Talking about company names….my wife and I recently went through this exact company naming process as we are in the process of buying a business.

We ended up with ….Jolly Jane Pty Ltd. We decided using our childrens names. KeLLY JO and Reanna JANE (we removed the Ke and put the JO to make JOLLY and added our other daughters second name…[Read more]

Hi Kiwi

I’m flaberghasted that this situation came about. More so that a bank can refuse to release a mortgage should the sale price (+fees) not cover the mortgage. I would have thought the bank would have no choice but to release the mortgage and go after the vendors for the difference post sale. Obviously this is not the case. Also that…[Read more]

Hey Ron

20 is young and you can recover pretty easily if things go wrong…but 30 grand is still a lot of money to risk so you do need to be careful. Plus if you borrow heavily and things go south you may actually end up owing more than your property is worth. It’s all very well to just say …go for it but you need to know your market prices…[Read more]

Hi Micasa

Buying a farm for lifestyle is great. The sight, smells and country hospitality is something to treasure…..HOWEVER….if you’re borrowing heavily to purchase and that level of debt is hanging over you for a fair period of time it can become very stressful very very quickly.

Just glancing over the basic numbers gives me reason for…[Read more]

Hi Andy

After reading many…many replies to this both unfortunate (negative equity…on paper) and uplifting (new baby etc) I thought I’d add my two bobs worth.

First off I agree wholeheartedly with one respondent who mentioned that you did buy the property for a reason @ $500k+. Think back to why you bought…does that still apply? Are you…[Read more]

Hi all

The forthcoming comments are not mine…I take no responsibilty for them…they are ficticious rubbish.

You don’t want to be found hey! An IBC is a good way…but difficult to get finance. Hey…if you’ve got such a big tax bill maybe you have enough money to buy your own bank and write your own mortgages. An internation restricted…[Read more]

Hi Dazzling

Wow…thanks for the detailed reply. Clause 1 I refer to is the first ‘special conditions’ clause that the vendor added to the contract that then said that clauses7.4(1)(d), 7.4(2), 7.6 & 7.7 of a standard REIQ contract were to be deleted from the contract.

They read:

7.4(1)(d) there will be no unsatified judgment, order or writ…[Read more]

Hi everyone

Thanks very much for your comments…I’m starting to look beyond realestate.com…and domain etc…by phoning agents and getting myself on their “buyer” list. OMG…do they try to sell me some crap but I suppose, and anticipated, they have their own agenda. So much time on the phone etc. I’m still not convinced buyers agents are…[Read more]

Springer

Some one some day will take a council to court to recover value degraded from a property due to it’s listing as heritage status.

One example is an old qlder on 1200+m3 (cnr of logan and miles platting rd eight mile plains.) This would surely be a near $1m commercial site but due to heritage listing sold at auction recently for 500k.…[Read more]

Hi Dreamer

Well done on finding and making the move on this deal back in Jan 04. They are good figures whichever way you look at them…but I’m with Mikala…Please explain why you would sell an asset putting money in your back pocket… every week…potentially for the rest of your life?

Ben

Hi Skippygirl

I have an idea what your thinking…the owners are getting desperate…price drops…agent changes…absentee ownership…I might be able to pick up this property for a lower price than what I think the property is really worth. The problem with this is that the property is only worth what the market will pay and do you really know…[Read more]

Hi Dan,

Well done, although I’m still unsure why you felt the need to sell these units. I’m sure you would have been able to refinance it to access the available equity (45k) you have created in this property (and to pay your father back – has he asked for a cut of the profits yet?..lol). And from the looks of it the income from the tenants…[Read more]