DeanCollins started the topic Wespac screwing over investors by jacking up rates 0.28% in the forum Finance 7 years, 8 months ago
Time to shop around with other lenders folks.
Anyone staying with @Westpac deserves to get shafted after they raise investor rates 0.28% to pump up profits.
There was NO corresponding RBA move, this is just profit driven. and the RBA wanting to put a cap on “investor driven property prices” are too gutless to say anything.
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DeanCollins started the topic Wespac screwing over investors by jcking up rates 0.28% in the forum Finance 7 years, 8 months ago
Time to shop around with other lenders folks.
Anyone staying with @Westpac deserves to get shafted after they raise investor rates 0.28% to pump up profits.
There was NO corresponding RBA move, this is just profit driven. and the RBA wanting to put a cap on “investor driven property prices” are too gutless to say anything.
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DeanCollins replied to the topic NSW Strata legislation revision screwup in the forum Help Needed! 7 years, 8 months ago
Hi Ethan, I agree, especially when the most recent legislation update allows for Skype in agm’s etc….to have Clisdells insisting that they have an Australian postal address…..
Terry, its a screwup as the word “Australian” should have been removed in the last round of reviews.
1 in 20 Australians currently live/work overseas….and by pure…[Read more]
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DeanCollins started the topic NSW Strata legislation revision screwup in the forum Help Needed! 7 years, 8 months ago
Wow just been told by NSW Fair Trading someone screwed up Nov 2016 legislation update and left the word “Australian” for postal address requirement.
1 in 20 Australians currently live overseas and some of these would most likely be property owners so even though we can have “electronic communications” and attend AGM’s via skype or electronic…[Read more]
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DeanCollins replied to the topic RISING DAMP in the forum Value Adding 7 years, 8 months ago
Hi Jennifer,
We had rising damp in one of our IP’s about 8 years ago. We hired a professional company to come in remove the plaster from floor height to about 5ft up, they then inject silicon into the walls, then replastered after about 3 weeks then repainted.
Looks great and solved all the problems.
As for the person who said knock down the…[Read more]
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DeanCollins replied to the topic We offer funding at the rate of 5% interest rate in the forum Help Needed! 7 years, 8 months ago
Fixed 5-7 year loans? what LVR? Any BS setup/approval fees?
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DeanCollins started the topic Bathroom renovations in Sydney? in the forum Value Adding 7 years, 8 months ago
Looking for landlords who have hired builders/contractors for bathroom renovations on your properties.
Can you post some before and after photos and details on prices/who you used.
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DeanCollins replied to the topic Non APRA rating guidline lenders in the forum Finance 7 years, 9 months ago
I checked these two links out
– http://www.rba.gov.au/fin-stability/fin-inst/main-types-of-financial-institutions.html
– http://www.apra.gov.au/ADI/Pages/Default.aspxis it just that “banks are govt insured” and “finance companies are not”? or is there something else that differs?
eg
“Finance companies raise funds using debentures and…[Read more] -
DeanCollins replied to the topic Non APRA rating guidline lenders in the forum Finance 7 years, 9 months ago
Thanks Richard
Why does APRA require the big 4 banks to calculate serviceability at 7.5% BUT Latrobe/Pepper Group/Liberty etc don’t need to follow these guidelines?
TIA,
Dean -
DeanCollins started the topic Non APRA rating guidline lenders in the forum Finance 7 years, 9 months ago
Which lenders in Australia DO NOT have to follow APRA rating requirements (eg. don’t calculate your lvr based on 7.5%).
We are in a situation where St George wouldn’t lend on our last property purchase (even though our negative gearing is only around $10k per annum and last year we paid down our loans at approx. $10k per month off the principal)…[Read more]
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DeanCollins started the topic Capital gains tax changes? in the forum General Property 7 years, 9 months ago
Reading this article – https://pfh007.com/2017/02/16/budget-2017-plans-to-cut-the-cgt-concession-not-likely/comment-page-1/#comment-651
Anyone think if they remove or reduce the 50% discount on housing……that they will still apply the 50% discount for shares and investments other than property?
(eg only 25% discount on property investments…[Read more] -
DeanCollins replied to the topic tenant hasnt paid last two gas bills – what to do? in the forum Help Needed! 7 years, 9 months ago
Agree Ethan, we pay good money for PM…..they work for us not the other way around.
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DeanCollins started the topic Callaghan, Newcastle in the forum General Property 7 years, 9 months ago
Just a heads up that my nephew is starting at University of Newcastle in Callaghan, NSW this month……but that’s not why I’m posting, the reason I’m posting is just been having a chat with him about how hard its been for them to find student accommodation……
Was really surprised to hear that they are looking at around $180 minimum per week/…[Read more]
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DeanCollins started the topic Perfect example of why removing Stamp Duty is a terrible idea in the forum General Property 7 years, 10 months ago
I noticed that YIPmagazine is pushing the idea of removing stamp duty again……
Came across this article on NZ and retweeted back to them why its a terrible idea and thought more than a few of you here might agree
– https://twitter.com/deancollins/status/824341625476435975 -
DeanCollins replied to the topic NYC city taxes in the forum Overseas Deals 7 years, 10 months ago
Hi Benny,
nope….yields in property just plain suck here (though this is my PPOR), because NY City sees property as a cash cow (which is why a lot of people are commuting from bedroom suburbs like NJ and CT etc (think Gosford etc)
our particular unit is the largest due to combinations of smaller apartments but most of the apartments in the…[Read more]
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DeanCollins started the topic NYC city taxes in the forum Overseas Deals 7 years, 10 months ago
BTW thought some of you investors in Australia would get a kick out of this and make you feel better about some of your council fees.
We just completed our New York coop’s expenses spreadsheet for 2016 to send to the accountant. (a coop is like a strata…..but over here the strata pays for city taxes…eg. Council rates not the individual a…[Read more]
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DeanCollins started the topic NYC city taxes in the forum Overseas Deals 7 years, 10 months ago
BTW thought some of you investors in Australia would get a kick out of this and make you feel better about some of your council fees.
We just completed our New York coop’s expenses spreadsheet for 2016 to send to the accountant. (a coop is like a strata…..but over here the strata pays for city taxes…eg. Council taxes not the individual a…[Read more]
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DeanCollins replied to the topic land tax NSW double taxation? in the forum Legal & Accounting 7 years, 10 months ago
Awesome response Terry.
Thanks for confirming.
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DeanCollins started the topic Big end of town get efficient at property management in the forum General Property 7 years, 10 months ago
wow 14% eviction rate per annum…..
I know BrickX and other Australian versions of “big end of town SFH property investment” hasn’t penetrated much in Australia but would be interesting to see how this went down in Australia.
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DeanCollins started the topic New China FX controls in the forum Help Needed! 7 years, 10 months ago
Anyone have any more info about this?
– https://www.bloomberg.com/news/articles/2017-01-03/china-drills-down-into-forex-transactions-as-money-exits-abroadWould be great to get some local Chinese news sites with google translations on what people are saying about their decisions.
Will this finally mark the top of Chinese investment in Sydney and…[Read more]
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