Forum Replies Created
thanks for the details…
I would be interested in the fact sheet.
you can send to:
[email protected]As for the question about Katherine..
We just returned from a 6 week holiday up in the NT (we drove). Initally we had planned to stay 4 nights in Katherine in the end we only stayed 2 as there wasn’t that much to see.
The main tourist attraction is Katherine gorge, and thats a 30min drive out of town.
The town itself was looking a bit run down, but it had a supermarket.
My advice for anybody after property up there would be first to go see it for yourself. Personally I thought that there were to many local aboriginals who think that its a good idea to set the town park alight. (it happened when we were there)
Nigel.
quote:
Hi,I am buying a niche unit in Mitchell St, right in the main drag. Positively geared, 8% net, lessee assumes all operating costs including vacancy, insurance, rates, and body c. NAB guarantee for the first 5 yearts. There were 12 left last I heard. They have commenced construction and completion is scheduled for June next year.
I have the info sheets if anyones interested. I lived in the NT for 7 years and absolutely loved it. mmmm Barra fishing !
Well I think there is a LOT of growth to be realised in Darwin. For a start the Australasia Railway is completed which links Darwin to the rest of Oz, that is predicted to bring 30000 visitors a year to the NT. Theres the 600 Million Waterfront Upgrade right in Darwin which is commencing shortly. The Indo Gas pipeline work has started which means Darwin will be the hub for Asia. Tourism is one of the biggest industries in the NT and the Government has realised how important backpackers are and is injecting time and money to bring and retain there skills to Darwin. Darwin is very Multicultural as anyone who has been there will tell you that. There also building a University, a large Exhibition centre, Tourist Precinct, and theres a proposed Chinatown area.
I think Darwin is set for some descent growth !
Cheers
J
“Success comes from having the proper aim as well as the right ammunition”
All,
I would be very careful before attempting to make use of this loophole. Things like this have happened in the past where the courts have ruled against the ATO and the investor has won… in the short term. However the ATO will publicly announce that they don’t agree. Then the government will realise how much money they will be loosing in lost tax. Then new legislation will be passed to close the loophole, however it won’t just be for future cases they will back date it to when the ATO first publicly announced their disapproval.
Hence if you do flaunt this loophole now and legislation is passed in the future then you will be up for a fair sum in back taxes… be warned.
regards,
Nigel.
Gav,
I have found that regardless of who you get to do the valuation the bank (one of the major ones anyway) will insist on doing there own. Typically they won’t rely on a real-estate agents view because they know that they over inflate anyway.
Maybe you could contact someone from the Australian Property Institute (Valuers Institute). The bank may respect there result more.
I would be very wary on trying to overvalue the property to begin with as its adding greater risk overall.
Another think to note is that the bank will typically not include the full amount at which it is valued in the calculation as to how much you can borrow. For example if you had a house valued at $100,000 the bank could likely only say its worth $90,000.
The reason for this is because if you were to do a runner or go bankrupt the bank estimates that there will be approx $10,000 in fees and other charges.
Hope this isn’t too much info,
Nigel.
Thanks for the comments on question 1.
Does anyone know anthing about the UCCC question though?
If this isn’t done correctly I could be stuck in law suits until the cows come home.
regards,
Nigel.
