gips wrote:
hi all, After years of saving we have finally bought our first business and we are now looking to invest in property. We both have never bought property before so might qualify for the first home buyers. We live in a country town in Victoria and we don't feel the need to splash out on a big property to live in. What would be best…[Read more]

I disagree Jamie. I don't see the $7.5K as a cost rather as a 'saving' – a little obtuse I know.Using the numbers above the investor has paid a one off fee of $7.5K. This is tax deductible over 5 yrs, or the life of the loan, whichever is shorter. Don't think for one minute I am advocating making decisions based on tax deductions – to me tax…[Read more]

investhut wrote:
here the forum members suggested i use my equity to manage 20% borrowing cost using my home.i went to 2 banks. they both are like yes u can borrow 400k no issue.

Now I am not a broker nor advisor so take what I say with a grain of salt.Why haven't you considered 10% deposit instead of 20%?On $400K purchase you will need to find…[Read more]

HI Luci,Most long term OTP very risky in my opinion without suitable 'out clauses' for purchaser and when the market has recently performed quite well, which Melbourne generally has.A few questions for you to consider;1. why are you specifically looking at those areas?2. how long before the properties are completed? 3. what percentage of the…[Read more]

rb2011 wrote:
Hi,My mother has recently acquired half of her family home and wishes to buy out her sisters half of it. The propety is valued at $260,00 at the present time. She has no credit history at all and the bank has refused to lend her the remaining $130,000 due to her income. Is their any financing in Australia that would allow her to…[Read more]

Pretty rough maths here people but for a new townhouse you are looking at approximately 66% of purchase price as being depreciable. Is it worth spending ~$500+ damn right it is.

Another thread with a few commentshttps://www.propertyinvesting.com/forums/getting-technical/finance/4335330

We bought our first HOUSE when we were working in the bush – rented it for a year, then moved into it for two years before reletting it for a further 10 years. Sure it wasn't as good as it was when we left and I spent 7 weeks doing some renovations and general tidying up on it and then we relet it again for a further 9 months. Looking back we had…[Read more]

Hi Intrigue,A buy and hold on a 60's property means the property will have to have something special for me. If you are worried about the cracks get a full inspection done and consider a structural inspection as part of your due diligence. I would also check all lights, electrical fittings and fixtures all work properly. Oven, all burners,…[Read more]

Fees & conditions are negotiable despite some agents suggesting otherwise.

Terryw wrote:
(ps welcome back Derek!)

Thanks Terry – been awhile.

PS many of the bigger QS/depreciation companies work closely with the ATO so they are on the same page. Your accountant basically only needs to open the report up and transfer the figures from one piece of paper to another. Makes life pretty simple.

Hi Frank,I recommend you call a Quantity Surveyor – for around $500 +- they will provide you with a report detailing your claims for 40 years. This report will be more comprehensive than the builders report.Money well spent.

Hi Fword,

That is pretty standard for most (all?) banks.

They do want proof of sufficient building coverage before they pass funds onto the purchaser. On top of this they also want their financial interest declared on the insurance policy.

Not that different to cars where finance is involved.

The key issue here is that in most states it is…[Read more]

Hi Fword,

That is pretty standard for most (all?) banks.

They do want proof of sufficient building coverage before they pass funds onto the purchaser. On top of this they also want their financial interest declared on the insurance policy.

Not that different to cars where finance is involved.

The key issue here is that in most states it is…[Read more]

Hi Fword,

That is pretty standard for most (all?) banks.

They do want proof of sufficient building coverage before they pass funds onto the purchaser. On top of this they also want their financial interest declared on the insurance policy.

Not that different to cars where finance is involved.

The key issue here is that in most states it is…[Read more]

Hi Fword,That is pretty standard for most (all?) banks. They do want proof of sufficient building coverage before they pass funds onto the purchaser. On top of this they also want their financial interest declared on the insurance policy.Not that different to cars where finance is involved. The key issue here is that in most states it is advisable…[Read more]

Yet definitely need it in Vic after unconditional stage has been reached. Also recommended to have as soon as contracts have been signed by both parties. Might be a bit early but……………………<moderator: delete language>

True Scott – certainly an angle I hadn't considered. Like most decisions we make they should always align themselves with the preferred strategy.

stoj wrote:
Aim is to reduce strata costs on general maintenance costs like getting washers changed on taps in common areas. thank you for your help

Seems to me your focus is wrong and some re-thinking is required. Sure strata costs can be a PITA but provided they are not excessive there are significant all round benefits to keeping the…[Read more]