Total Members: 159,424

bjb007

  • bjb007 replied to the topic Tenants & Garage Door Locks in the forum General Property 14 years, 2 months ago

    Thanks for the feedback guys.

    Yes I will chalk it up to another lesson in the investing game lol.

    Our Agent has in fact confirmed with Consumer Affairs that all outbuildings must have locks and keys supplied to tenants.

    It’s just a bummer on top of all the purchasing costs, waiting for a tenant, fixing a few other issues already and now this…[Read more]

  • Mike this is such an awesome offer and one that I availed myself of.The report is fabulous – the amazing speed with which you delivered it, even better.Thank you very, very much for your generosity.Cheers Bambi

  • bjb007 replied to the topic LOC for deposits question in the forum Finance 15 years, 8 months ago

    Thanks for that…I was afraid that might be the case. Appreciate your response.

  • bjb007 replied to the topic Buying a property with 3 friends in the forum Help Needed! 15 years, 9 months ago

    Hi, I've actually been down this road myself and let me tell you the pitfalls can be huge.Admittedly in my case the three of us got together to purely buy investments properties, not to live in.We meet constantly for a period of twelve months thrashing out every possible scenario we could think of arising. You have to consider disputes,…[Read more]

  • bjb007 replied to the topic Silver Gal Fence in the forum Value Adding 17 years, 5 months ago

    Yeah, it's ugly.Guess whilst it's a rental I'll put up with it. When I come to onsell I'll definately ditch it.

  • bjb007 replied to the topic Silver Gal Fence in the forum No it’s cyclone wire 17 years, 5 months ago

    No it's cyclone wire (checked with the man of the house)….;)

  • bjb007 replied to the topic Vinyl wrap vs two-pac vs aluminium framed glass doors in the forum Value Adding 17 years, 5 months ago

    Marvellous thread. I'm in the process of buying a flat pak kitchen for a rental and was tossing up between the vinyl wrap and the laminate wrap doors.You've just made a decision for me. Many Thanks. Laminate wrap doors, here I come!

  • bjb007 replied to the topic Finance Options For a Co/Trust in the forum Finance 17 years, 5 months ago

    They are self employed. We didn't want to go for a low doc loan because the fees, interest etc (I believe) would be higher.If you could share say just 2 of the most common alternatives I would be really grateful. I feel I have a lot to learn and I also suspect I haven't picked the most knowledgeable broker.Thanks.

  • bjb007 replied to the topic Best Place For Mortgage For Company/Trust Structure in the forum Finance 17 years, 5 months ago

    My understanding of a LOC is that we would use our respective PPOR as collateral for the LOC. We are three mums who have set up a Company and Unit Trust and want to keep our investing completely separate from our personal properties.

  • bjb007 replied to the topic Best Place For Mortgage For Company/Trust Structure in the forum Finance 17 years, 5 months ago

    Hmm, not sure I follow any of that myself, but many thanks for the suggestion. I will educate myself and get my head around all the options, in hindsight we should have nutted this out ages ago.We definitely don't want a line of credit, at this stage anyways. We wanted to achieve our first IP using only the IP as security and not having to use our…[Read more]

  • bjb007 replied to the topic Best Place For Mortgage For Company/Trust Structure in the forum Finance 17 years, 5 months ago

    Thanks for your feedback guys.What do you think of the MembersEquity loan of 7.59% fixed for 5 years IO? There are no fees. We thought by putting down 20% for our first purchase we create ourselves some automatic equity and with a bit of work on the property we have bought we believe we can create even more equity too. Something that we can then…[Read more]

  • bjb007 replied to the topic Inside Information on the Next Boom Area in the forum Heads Up! 17 years, 6 months ago

    Thanks Alison,I've in Victoria, so I'll have to give it a miss this time around. If you do the same thing again in Victoria I'd be interested.

  • bjb007 replied to the topic Inside Information on the Next Boom Area in the forum Heads Up! 17 years, 6 months ago

    What state is this in?

  • bjb007 replied to the topic Please recommend an accountant in Melbourne in the forum Legal & Accounting 17 years, 6 months ago

    Can't go past Dale Gatherum for my money.www.gatherumgoss.com

  • bjb007 replied to the topic Property Investment Advice in North West of Melbourne needed!!!! in the forum Help Needed! 17 years, 6 months ago

    You should grab yourself a copy of this months Property Investor Magazine. The cover story is "What you can buy for under $300K – affordable properties within 20km of capital cities"…….your request fits with this article.

  • bjb007 replied to the topic New home page – what do you think in the forum General Property 17 years, 6 months ago

    Heaps better Steve! Love that you can easily see the latest forum posts – great improvement

  • bjb007 replied to the topic And/or nominee and trusts in the forum Legal & Accounting 19 years ago

    Good question – one that I myself ran past our Mortgage Broker who said NO WAY should you buy as and/or nominee BEFORE your trust structure is in place BECAUSE two of his clients had done exactly this and been burned big time by the ATO and if memory serves me correctly they had to pay double stamp duty because it was deceptive.
    I may be foggy on…[Read more]

  • bjb007 replied to the topic Exit Clauses in the forum Legal & Accounting 19 years, 1 month ago

    Thank you very much for the brilliant feedback. At least now we have some ideas of exactly what we need to thrash out before we see a Solicitor.
    Superb![biggrin]
    P.S. I have absolutely nothing against Lawyers I used to work for them for 15 years.

  • bjb007 replied to the topic Guidence needed in the forum Legal & Accounting 19 years, 1 month ago

    In Victoria at least you can transfer your pricipal place of residence to your spouse without incurring stamp duty. I know because good friends of mine have just done exactly this to separate their business dealings from their home.

    Cheers BJ

  • bjb007 replied to the topic Guidence needed in the forum Legal & Accounting 19 years, 1 month ago

    Hi Bruce

    Recommended structure would be a Company and Hybrid Trust. This can be set up by an Accountant or Solicitor at a cost of about $2200.00 – $2700

    If your family home is in your name, you would have to transfer it into the trust which would have you paying stamp duty. Best to discuss this aspect with a Solicitor, you could just transfer it…[Read more]

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