Check with the OFT regarding 'or nominee' clause'I understand (not 100% sure) replacing am 'or nominee' with a real name can trigger a second stamp duty calculation in some states dependent upon when the change occurs. In some case the simple change may be seen as a separate sale. Worth a phone call.

Posted this elsewhere My thoughts; 1. Maybe/maybe not depending upon the individual broker – property investing is more than just 'interest rates' as there are far more important things to worry about. You also need to consider such issues as capacity to maximise borrowing but even more important loan structuring. To me these last two items…[Read more]

4jojo wrote:
Wondering-  1. Do mortgage brokers get better rates etc? 2. But I'm wondering whether I am better off going directly to a variety of different banks myself (yes, I'm aware it can be time consuming but so can dealing with a mortgage broker).  In the end will I end up getting the same result?3. I would be happy to use a mortgage b…[Read more]

michaelandre70 wrote:
Darek – agree with you on the classic saying – sometimes you just have to take a chance. but i think taking some precaution so that the risk is minimized, would be better.

Without a doubt. Due diligence should always be undertaken – they key is trying to determine what and how much should be done. Trouble is I have seen…[Read more]

Hi Dave,OK – so you have ticked off a few of my original questions. Without knowing the numbers (and you don't have to tell me) I still wonder about your capacity to service the grand plan through the next 6 – 12 months. That is will you be able to get the additional funds (assuming your wife's work is fully recognised) to do what you want to? Is…[Read more]

You gotta do what you gotta do.If owning a place to live in is very important to you and you are prepared to 'sacrifice' what you are currently doing to move to a smaller town then this would all make sense from a home ownership perspective. It seems securing finance is currently presenting problems for you – and this is where your intentions may…[Read more]

Kagen327 wrote:
(granted I get approval from the historic area association)

If this property is under any form of heritage listing you may have a struggle to get approval for car parking – particularly if the size of the parking area exceeds what would be considered normal. In effect it seems as if you are buying a place to live with a net…[Read more]

g0biin wrote:
Apparently you flip your mortgage over to interest only and pay the pricable on a property that they find you that has a growth of 10% a year. At the end of 10 years you pay them $45 000s and you pay off your mortgage

Why pay P & I on an investment property. If buying an IP and then selling it some stage in the future I would go P…[Read more]

Ignore Part 4A at your own peril.

Try a search of the various uni websites Curtin Uni (WA) has a few. Haven't done the course so don't know. http://courses.curtin.edu.au/course_overview/all-courses-search.cfm?cFinderSearch=Property&cFinderSearchSubmit=&search=1&type=Go

rainydaze wrote:
I prefer email in these situations, because I can have everything in writing if I need to refer to it, and it gives me time to really explain myself.

Hi Rd,That is good to hear – I should have qualified my comment about email as follows:Have the conversation on the phone (allows qualifying/clarifying questions etc to be ask)…[Read more]

Raindayze – GO back and read XDrew's comments. Without knowing the ins and outs of Tas contracts relating to property purchase my opinion is exactly the same as X's. I reckon your conveyancer needs to be a little more supportive of you (their client) in this situation.While there is nothing to stop the purchaser from undertaking the inspections…[Read more]

As Kenny Rogers said (I know showing my age) know when to walk away.It would seem to me you are being played here and your enthusiasm is making you vulnerable to manipulation. Consider the following the property has been in the market for 6 months, your original offer was in the asking range and there is no tenant in situ. On this basis alone I…[Read more]

They're low.

When doing calcs in my head I allow 2% of borrowings. The actual figure will depend on final LVR – higher the LVR = the higher the LMI premium. On top of this you also need to allow around 5% of purchase price for stamp duty, solicitors fees, bank fees etc etc etc. Numbers are rough but they work for me. 

gregorsky wrote:
I am 20 and new at this,

Mate – if I were you I would be patting myself on the back. Most 20 yr olds I know are still working out which pub or nightclub to go to. You're on your way to a very solid future provided you go steady, steady. 

gregorsky wrote:
We currently have a house worth $360000, owing $300000. We want to sell and with the profit, buy a block of land worth 170000, We plan to rent for at least a year and pay of the existing 110000 on the land, then build our house at approx 220000, so all we have is a 220000 mortgage, then look at buying a property to rent out e…[Read more]

The obvious questions is why – I would hazard a guess as this is being contemplated for tax minimisation/avoidance purposes.. Think carefully about the answer because Part IV of the tax act will have some bearing on this.Part IV deals with tax avoidance and reasons for taking certain actions. If your reasons are other than to avoid paying tax you…[Read more]

Was the settlement process past the unconditional stage?

orangestreet wrote:
We have decided to buy a PPoR first (want a place to call home) and then be disciplined enough through proper loan structures to leverage that into my first IP in a year or two after that and then build on that.

HI OS,A very newsy introduction and welcome. Seems to me you have made some great initial steps that should set…[Read more]