Forum Replies Created
Yes, I take this opportunity to show my gratitude as well.
Not only are these boards a wealth of invaluable information, but the forumites can provide entertainment as well, at times!
) [thumbsup2]Celivia
Too funnyyyyyyyyyyyyyy Rugby. [lmao] I think this thread ought to be moved to the Frolic forum![biggrin]
Celivia
How big is the balcony, Leigh?
I’m asking this because although I love a balcony, some people might prefer to close in the balcony and use it as an extra small living area, such as a study, or a sunroom, or guestroom, or something. SO perhaps if you could get a council permit or something that allows the buyer to close in the balcony with windows, and this permit came with the deal, it wouldn’t cost you that much, and could attract more buyers.
Celivia
Hi Pepper, I didn’t see the program, but I’ve had only good experiences with ebay.
Sedraash, if you’re not sure whether you should spend money on a seminar, maybe you could read a few different books by different authors first.
Different authors have different viewpoints and strategies. Do a search on here, there is a list with recommendable books somewhere on the boards. If you still feel you must go to a seminar, at least you’ll know a little about the strategies and maybe have developed a preference.
If you go to a seminar before you know about the different options, you’ll be spending a lot of money and getting only information from one ‘Guru’, which you may not even like to ‘follow’, after all.
Celivia
Thanks Scott and Jeff.
Jeff, could you give an example of chattels that tend to appreciate rather than depreciate? [blush2]
Celivia
As I still have a lot to learn, as many others do, I was hoping to follow an interesting conversation in this thread about taxes and negative gearing. WHat a shame that some people on here are turning a topic like this into some personal battle.
I think when people feel they have to resort to using smilies in a way to try to ridicule one of the most respected forumites and moderators, (who btw has been investing in property for a long time according to some past posts), and when these people even seem to conspire in PMs, it is a sad case of poisoning the discussion.
I can’t wait for the day that things on these boards can be discussed in an appropriate way in where people respect each other’s opinions without reacting with resentful aggression.
Celivia
Hi SHane, you may have seen it already, but there is a recent thread on Retirement villages in the General Property Forum, that you might find of some help.
Celivia
Hi Flanno,
try to do a search on this topic, it has been discussed a few times in the past as well.
About a year or so ago I did some research on these retirement units.I agree with Derek:
Most, if not, all lenders will treat it as a commercial loan and will only do 60% lends and at a higher interest rate.And read the contract carefully and thoroughly, there may be more costs than you initially think.
Also, you may find out that all the outgoings, e.g. management costs, laundry service will increase annually by either 3% or according to the CPI adjustments, whichever is the most.
An annual increase of income is not guaranteed.The success of the smooth running of such village depends very much on the management.
The ones I researched had management contracts for something like 20 years!If there are any particular questions you come up with, feel free to PM me and I could dig out some more info I collected at that time to see if I can help.
Celivia
Phew, luckily it’s not too late yet to wish you a happy birthday, Simon!
Are you having a [party] [upsidedown]?
I hope you won’t feel like [sick3] [tired] tomorrow.Celivia
As far as I know, bennido, one can only claim building depreciation for properties built post 1985.
Having a depreciation schedule done might still be worth it if there have been renovations done recently.
Celivia
Yes Newgen, I received my year-to-date statement free of charge, but my pm let me know that next year there will be a fee for this service.
Celivia
Originally posted by kay henry:I’m assuming that a line of credit is basically an account where you can access your equity without the fuss of having to officially do it by mortgage redraw. So basically, you have a card and can just go on a big equity spending spree?
Yes, we could go to the casino and blow it all, if we wanted that!
We were given 80% of the equity we had at the time of application- hence, we have that as our limit- 20% will stay put.
We pay interest only over what we have taken out, and these monthly interest payments are taken out of this LOC by the bank. It’s up to us if we want to pay the money back into the account, or let it build up.
What I am wondering is… if you have 100k LOC, and that 100k is your equity… so say you have a 400k mortgage (80%) and your 100k LOC (20%)… what happens if you buy a new car for 50k from your LOC? Doesn’t that make your LVR (say, specified in your loan at 80%) less than it should be? Do you have to justify what you spend your LOC on or does the bank control it at all?
Well with our LOC we don’t have to justify it, but I think if we’d apply for a loan again, lenders will take this LOC debt into account-looking at the interestpayments.
I know that with redraw, my bank keeps an eye on it, and it’s a bit of a drama to do, but is a LOC just a card that you can go and withdraw all your equity? And then the bank takes all your property away? hehe.
Yes you can use the card, cheques or internet banking to draw the money out of your LOC.
But you can only access 80% of your equity and as long as there is enough money in the account for the bank to take out their interest every month, there will be no problems or questions from the bank.
kay henry
Celivia
SOnja, I am just a bit concerned about the health hazards of utelising an unclean evaporative airconditioner.
I remember some time ago, reading an article in some health magazine about bacteria and mould growing in evaporative airconditioners.
These mould gases and spread of bacteria throughout the living areas can lead to infections and even asthma, especially in children.Regular servicing may be necessary to prevent growth of mould/bacteria.
I’m just wondering how frequently these airco units should be serviced.Celivia
Sonja, how frequently do evaporative airconditioners need servicing?
And is that a job that has to be done professionally or would it be quite easy to do that yourself?Celivia
Yeah I like many of the movies mentioned, but what about the old Blues Brothers movie- it cracks me up!
Especially the scene where they have this gig on a stage where they are protected by some wire gate, and people keep throwing bottles and crap at them… awww funny![lmao]Celivia
I pay 8% plus GST, (Dubbo NSW) and it includes:
2-3 condition reports p/a (2 is standard, but you can ask for one more if necessary),
monthly drive-bys,
an annual (value)appraisal,
monthly rental statements and
a year-to-date statement.
Re-letting fee is one weeks rent.
Not included is postage.So far, I’m happy with their service. They do expect landlords to keep their properties in a good state of repair, and they do not take on properties below their standards.
Celivia
I agree, Wilf and Noreen. Once a buyer’s offer has been accepted, that buyer often will proceed to have pest/building/bodycorp inspections organised, before the contract is signed, to speed things up.
To be gazumped causes hassle and upsets.[confused2]Celivia
Yes I would buy ‘sight unseen’ if a good opportunity came up.
About 6 months ago we almost bought a property (house/land) unseen, but the pest inspection report I had ordered told me termites had recently entered the house and that there were lots around in the garden and fences as well.
I didn’t want to go ahead and pulled out before signing the contract.Celivia
Yes, exercise.
It gives me more energy so I can do other things quicker and create more free time hehe.Sonja, I know what you mean. With young children you can only think of one thing…sleep![sleepy2]
Sheesh it’s hard when the adorable anklebiters wake zombie up every 3 hours for milk, milk, and more milk![sleepy2]
Babies are cute and fun, but I’m glad they’re older now!Celivia
Mine has just been.[party]
July 3rd.Celivia
) [thumbsup2]
