Billy,

The info you seek about stamp duty rates for title transfer within WA is located in many places.

Your first port of call should be the State Revenue Office (they have a website, but I am not clever enough to know how to link it into here.

reiwa.com also has the rates on their website…with a calculator so you can play around with…[Read more]

Zyleth,

By your own admission you are on above average wages. I think you are tackling your overall game from the wrong end.
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It appears like your “offense game” – bringing money in – it just fine…congratulations. I think improving this side of your financial game has limited upside, what with…[Read more]

Hi Brett,

We’ve done this loop twice in the past. Regardless of the cost, in the long term it has been well worth it. We did it for asset protection – winking and nodding – had nothing to do with improving the cashflow substantially…

It was in WA so cannot answer specifically for Qld.

1. OK.
2. ???
3. Probably not – but you might be up for…[Read more]

Missy79,

I’m totally confused by your post.

Firstly, unless the wording on the contract is very unusual, the normal Building Report clause is a “walk or delete” clause. If the Buyers are not happy with what they find…they walk…if they are satisfied…the clause is deleted from the contract. Normally, nowhere does it say they can come back…[Read more]

Hi Nathan,

Sounds to me like you’ve got pretty OK neighbours. If they were prepared to call you and discuss the situation, and then agree to run around and get quotes…that can’t be too bad – surely. I don’t understand why you didn’t grab their phone number then ??

Maybe they are just on a different timeframe to what you are on. They might…[Read more]

Lisa,

The answer depends entirely on what the exact wording on the sales contract says.

Typically for res. property, it’ll say something like “The Buyer reserves the right to conduct a building inspection at his expense within 14 days blah blah….and then some action based on the findings…usually if the Buyer isn’t happy has the opportunity…[Read more]

Dropping a clause in the offer about placing the onus on the vendor to clean up the hovel, that’s all well and good…we went down that path…and it was the very first thing scratched out by the vendors on the counter offer. Messy people will not clean up mess.

You can load the offer with as many fantastic tips and “out” clauses that you pick…[Read more]

Rob – no I’m not.

Richard – no sorry…I gather you would value my free help or free direction commensurately with what you paid for it.

Not being from NZ, I presume snow bunnies are not a splinter faction from the mongrel mob.

These mongrel mob types would be absolutely flat out back in Oz…what an extremely valuable service they provide…far better (time and money wise) than fluffing around with courts / lawyers / bailiffs / orders / police / lying tenants etc etc…[Read more]

Elodie – so what did you do ??

I agree with APerry.

No it’s not difficult.

Hiya Richard and Rob,

Richard – you were correct on the Bank but woefully inaccurate on the other details. As posted previously…the one to which you refer…I have absolutely no intention in posting real banking documents onto a public website. Never have – never will.

If that sounds familiar to you and/or is a source of frustration – tough…[Read more]

Hi Jason,

I have previously worked overseas full time, and currently work overseas but rotate back to Oz on a regular basis.

In the past the losses generated on -CF props are simply lumped into the “Loss Carried Forward” pot, and when you are back in Oz and earning a taxable income, these are simply offset against that income. Works nicely…I…[Read more]

Battleships,

I think # 2 is excellent if possible…you’ll definitely get the real picture if you can actually get access to them…they could be out the back in a normal office structure – where this won’t work. Unless they are right out the front where you are standing – you wont know.

In regards to # 1 – who exactly are you asking for…[Read more]

Heya Big Al,

I’d be wanting satisfactory answers to the following two questions before going any further with your due diligence process ;

1. What has been the capital gain of the prop, compounded annually over the past 10 years ??

2. What are you expecting the capital gain of the prop, compounded annually over the next 10 years to be…[Read more]

Thanks Rob,

Doesn’t matter…any that you felt confident with, after having carried out the usual thorough Due Diligence on the specific property in question.

I’ve found it’s not relevant using sweeping categories like each city – you need to get down in the weeds and get way more specific than that…

Cheers,

Dazzling

“No point having a cake…[Read more]

Hiya Darren and Kerri,

I think you are significantly exposed at the moment in your current situation w.r.t. choosing a good PM. Having travelled down this road before, my comments are meant to be realistic…not to fluff you up.

I believe this question of locating a “good” PM as opposed to “an also ran, or bottom feeder”, to be identical to…[Read more]

I’d use it as a deposit on a +CF office complex in the CBD.

Luci,

That sounds very typical, and therefore stressful to you as a customer. Your underlying assumption that you are the customer and therefore should be treated with respect and prompt service is fundamentally flawed.

The Banks are primarily looking after their own business as best they can – ultimately for their shareholders. If you are not…[Read more]