DeanCollins replied to the topic Kitchen reno – Bunnings or Ikea in the forum Value Adding 5 years, 6 months ago
We have a Ikea kitchen here in NY…..its from 2009…..here we are in 2019 and looks as good as new-would totally use them again.
DeanCollins replied to the topic Kitchen reno – Bunnings or Ikea in the forum Value Adding 5 years, 6 months ago
We have a Ikea kitchen here in NY…..its from 2009…..here we are in 2019 and looks as good as new-would totally use them again.
DeanCollins replied to the topic American Foreigner Investing in Australia? in the forum Overseas Deals 5 years, 6 months ago
It also charges expats/non residents 38%-45% LTCG tax on property…..makes it a non starter for consideration now as far as im concerned.
We haven’t sold our Sydney IP’s…….but we haven’t bought any more either since they removed the 50% LTCG tax discount for expats either.
DeanCollins started the topic Sydney painter reccomendation in the forum Value Adding 5 years, 6 months ago
Just a quick recommendation for a painter we hired to do an internal paint job at our Narwee IP.
2Bd/1Bth/Kit/Laun/Combined Living and dining room with 2 coats low-sheen white on the walls (3 in the bathroom as was changing from blue) and semi gloss white on doors and trim $1850+gst
Nick and his team at Love and Care Painting went above and…[Read more]
DeanCollins replied to the topic Back from living/investing in USA for past 7 years. Ask Me Anything in the forum Overseas Deals 5 years, 8 months ago
Property in the USA is cheaper because they have more tier2 cities.
I’ve said it before multiple times until its just as cool to live in Nowra, Orange, Port Macquarie as it is Sydney, housing=expensive in Australia.
This said regarding property taxes……you have to remember property taxes in USA is different to council rates in…[Read more]
DeanCollins replied to the topic Back from living/investing in USA for past 7 years. Ask Me Anything in the forum Overseas Deals 5 years, 8 months ago
Property in the USA is cheaper because they have more tier2 cities.
I’ve said it before multiple times until its just as cool to live in Nowra, Orange, Port Macquarie as it is Sydney, housing=expensive in Australia.
This said regarding property taxes……you have to remember property taxes in USA is different to council rates in…[Read more]
DeanCollins replied to the topic Residential IP fractional ownership insights? in the forum Creative Investing 6 years, 7 months ago
Hi Jack,
Sorry for the delayed response.
Yes I bought a brick (well I bought it for my nephew to try and open his eyes about who delayed gratification works etc and makes money while you sleep).
What do you want to know?
You buy….you collect rent. If you decide you want to sell….you sell on their platform (they take a cut) and you get the…[Read more]
DeanCollins replied to the topic Looking for JV partner to execute splitter block deals. in the forum Creative Investing 7 years, 7 months ago
Hi Karan,
If you don’t have the ability to borrow from the bank you are basically asking someone to hire you just for labor only?
How many property development deals have you completed?
How many block split deals have you completed?
Why would someone hire you to do this labor with no experience??
Hope you understand my questions are trying to…[Read more]
DeanCollins replied to the topic Looking for JV partner to execute splitter block deals. in the forum Creative Investing 7 years, 7 months ago
Hi Karan,
If you don’t have the ability to borrow from the bank you are basically asking someone to hire you just for labor only?
How many property development deals have you completed?
How many block split deals have you completed?
Why would someone hire you to do this labor with no experience??
Hope you understand trying to be helpful.
DeanCollins replied to the topic Please share experience landlord & building insurance in the forum Help Needed! 7 years, 8 months ago
we have all ours with Honan who sell Chubb insurance, never had a claim but read online good reviews and easy to do renewals etc.
DeanCollins replied to the topic Back from living/investing in USA for past 7 years. Ask Me Anything in the forum Overseas Deals 7 years, 8 months ago
Loans that are a Fannie or Freddie 30 year fixed can still not have pre-payment penalty
Likewise a Freddie or Fannie loan from any of the major banks should still be non-recourse.
Non-recourse means you can walk away from the loan by giving up the property in a short sale and not owe anymore, obviously you lose your equity but most loans in the…[Read more]
DeanCollins replied to the topic Back from living/investing in USA for past 7 years. Ask Me Anything in the forum Overseas Deals 7 years, 8 months ago
Loans that are a Fannie or Freddie 30 year fixed can still not have pre-payment penalty
Likewise a Freddie or Fannie loan from any of the major banks should still be non-recourse.
Non-recourse means you can walk away from the loan by giving up the property in a short sale and not owe anymore, obviously you lose your equity but most loans in the…[Read more]
DeanCollins replied to the topic Back from living/investing in USA for past 7 years. Ask Me Anything in the forum Overseas Deals 7 years, 8 months ago
Loans that are a Fannie or Freddie 30 year fixed can still not have pre-payment penalty
Likewise a Freddie or Fannie loan from any of the major banks should still be non-recourse.
Non-recourse means you can walk away from the loan by giving up the property in a short sale and not owe anymore, obviously you lose your equity but most loans in the…[Read more]
DeanCollins replied to the topic Aussie investor living overseas interested in buying apartment in Sydney in the forum Help Needed! 7 years, 8 months ago
Hi Mani,
Yes Amanda from Elan Legal handled everything we needed as far as conveyancing remotely.
No we didn’t need to visit Australia.
Stewart Noble from MyLoanExpert was the mortgage broker we used for our last purchase in Dec 2016 which was financed through Westpac (the Narwee apartment I mentioned in 2015 above was through St George) and…[Read more]
DeanCollins replied to the topic Steves overseas USA fund in the forum Overseas Deals 7 years, 8 months ago
Interesting, I always assumed it was tax driven……. :)
Don’t get me wrong no one would be upset about winding up the fund, considering how awesome the returns have been based on the $A move. I’m sure some people would be happy with selling the assets and returning funds ahead of time.
Cheers.
DeanCollins replied to the topic Back from living/investing in USA for past 7 years. Ask Me Anything in the forum Overseas Deals 7 years, 9 months ago
I always thought it had to have something to do with securitization.
This said…..who did you borrow 30 year fixed where you had a fee for pre-payment?
We originally were with Citi, then Chase and now BOA…..when we refinanced the first 2 no penalty for prepayment (and nothing in the BOA docs as far as I know…..).
We were with Citi and…[Read more]
DeanCollins replied to the topic Back from living/investing in USA for past 7 years. Ask Me Anything in the forum Overseas Deals 7 years, 9 months ago
Why do you think USA banks are able to offer 30 year fixed loans but ALSO have no issue in you paying back the debt at any time you chose.
I’ve never understood why paying back fixed loans to Aussie banks result in hug penalties….but in the USA they don’t care?
DeanCollins started the topic Steves overseas USA fund in the forum Overseas Deals 7 years, 9 months ago
I just read this article
https://www.propertyinvesting.com/wise-words-unexpected-source
Curious is anyone who is invested in the fund aware with Steve moving back to Australia take it as an indication they are closing the fund (or closing out his personal position?)
DeanCollins replied to the topic Ampac addressable smoke detectors in the forum General Property 7 years, 9 months ago
Was this in Sydney? do you have a name/number I can call.
Like I said $195+gst seems to be expensive to me :(DeanCollins started the topic Ampac addressable smoke detectors in the forum General Property 7 years, 9 months ago
Anyone in this forum use Ampac addressable smoke detectors in their strata complex?
– http://www.ampac.net/au/products/detection-and-mcps/xp95-intelligent-detection
We have some faulty ones that are “triggering” in our complex and astounded at the costs in replacing these.
eg “Arnlew” quoted $1,716 for replacing 8 detectors at $195 each +10…[Read more]
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