Forum Replies Created

Viewing 20 posts - 141 through 160 (of 271 total)
  • Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    4 years, apparently they cleaned everything out each time they came for an inspection.we only found out via a google search on the address.

    Hmmm I find that really really hard to believe you would empty all out each time. Does your agent take photos each year?

    I’d keep on pursuing the civil suit.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    in addition why not contact them about a property they have for sale….and see how they handle your enquiry eg responsive/professional/ask questions as if you were a buyer and see what your reaction is.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    how long were the tenants there eg would the property managers have even done an inspection yet?

    Why is it that you aren’t going after the tenants to sue them for damages?

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    why cant your dad sell you the block with a balloon payment eg you have the rights to buy the block anytime between now and 10 years from now until then you pay “peppercorn rent” but in 10 years from now you buy the block for $700k + the projected increase.

    it sounds like the people you need to consult are your brothers eg to show that you are paying “going market rate” and the reason you want to do this is cut down on commute times to when you are driving to the farm for “farm work”.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    It’s a great result but a large percentage of that is currency related. Unless you liquidate and get out of the fund when the $A is at its lowest (eg well before the fund is scheduled to close in another 6 years).

    By my calculations the at the time was of fund setup in June 2012 the $A was around $1.03 now its around $0.70 so just over 30% of the return is currency swing, that if picked in 2012……was genius on its own.

    The fund itself is currently $1.575 or 57% return so even on its own its delivered a 27% or there abouts return just on the investments in a little over 3 years.

    It’s a great return, the question I posted is will China still be in a funk 6 years from now eg will the $A still suck in 2022

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    you realize by selling with a 12 month settlement…….you probably just gave the buyer a 10%+ discount right?

    and yes….its too late to do anything about this.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    credit card the closing costs? especially if you will possibly have most of the costs by settlement time eg 6 weeks

    The only question I have though is if you have this many issues coming up with closing costs + 20% deposit……maybe you aren’t quite ready to buy your own place?

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    BTW through another channel I’ve just been told that this is one of 4 “group sales” that is happening in this street, eg there was a 3 block area that has all been recently “high rise” approved.

    Will be interesting to see if more opportunities like this can solve Sydney’s over crowding issue eg whereas there was 9 domiciles before….now to be 50-70’ish’ in the same location.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Link to roll-overs for people who want to read up, was interesting to see a crown lease and mining rights exchange…..would have been covered.
    https://www.ato.gov.au/General/capital-gains-tax/cgt-exemptions,-rollovers-and-concessions/rollovers/

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    can he build a house on it and then sell it tax free?

    how big is the land btw? eg I read in one of the forum posts that anything over 100 acres different rules apply.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Why was it that Budget Direct denied your claim?

    Was it they denied or there were “un recognized limits” that you didn’t understand when you took out the policy.

    As per this post
    https://www.propertyinvesting.com/topic/5006038-chu-landlords-insurance/

    We have CHU insurance that we got via their broker Honan for $340each property. Was surprised how cheap the coverage was compared to what we had been paying elsewhere but have never had to make a claim yet so….a little concerned but we’ll see what happens when it happens 

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Holger, houses like this are generally less than 15k to get done professionally. Onc its done you don’t need to worry about every little picture hook, cable run drill whole etc you want to make for the rest of your life.

    Sheetrocking after its gone is cheap, and you get to do upgrades at the same time eg insulation for temp and sound, data/video/speaker cable runs at the same time while the walls are open.

    Of all the jobs you can do in an older house no more expensive than a pool and people install these all the time.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Rip and put in new sheetrock (at the same time taking advantage to put in insulation for sound and heat purposes).

    Cheapest and best solution.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    So basically if you can prove (via valuation) that the price you are selling it is TODAYS market value then you are ok…….but if you “INFLATE” the price above market value……you are providing illegal credit.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Having lived in the USA for a while now I don’t think Australians understand how screwed up the American financial system is and ‘should’ the world ever turn against the greenback and demand the risk premium for buying US Treasury bonds that they should be asking for…..that the USA would have massive issues in meeting its commitments.

    My real concern is this is an identifiable and calculable risk eg…..could well happen within our lifetimes.

    If it does happen……my concern is how the USA will handle it. I don’t see them going quietly into the night the way the UK, Spanish and Dutch empires did. I’ve said it before and I’ll say it again the way that USA handles the fall of its empire is the biggest risk to global peace the world currently faces (would make the middle east look like a family squabble).

    The path Australia plots its future on has ramifications for us all, currently however Australians aren’t having this discussion eg. When did we have the public referendum about allowing 20,000 marines to be stationed in Darwin? Heck I bet that 9 out of 10 people in Australia don’t even understand that Australia has been invaded and what the ramifications of this means.

    May be a little bit heavy a discussion for a property investing website but its food for thought.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Nice job Shame they aren’t in Sydney am going to need 2 kitchen replacements in next 12-18 months.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Does anyone think the $A is still going to be lower than $US in 2022…….seems for someone to be buying in today will be taking upside risk of the $A rising between 2016-2022.

    Interesting no more purchases in Tx….you would think given headroom of 7 years that Oil will be up between now and there and give you a good capital return.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Agree Benny, this whole APRA 10% investor limit is being used as a rort by the banks to push up their profit margins.

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    $2.5k for the cabinets only or $2.5k for everything inc backsplash/appliances/installation etc?

    Profile photo of DeanCollinsDeanCollins
    Participant
    @deancollins
    Join Date: 2015
    Post Count: 376

    Tell them to you intend to close and have instructed your solicitor to do so and if they fail to comply you’ll be seeking legal advice.

    Probably hoping you are going to go away etc.

    Be sure to update us with the outcome 

Viewing 20 posts - 141 through 160 (of 271 total)