HI Redspida,

Without meaning to sound harsh I think your parents have got this back to front entriely.

They have a million dollar asset that they are wanting to ‘deal with’ in order to get the pension which currently runs at a maximum of $420 each/couple.

It seems to me they would be better off looking at ways to leverage off their asset so…[Read more]

Hi Don,

The difficulty with median prices is that different companies have different data sources and comparisons which can lead to slight variations in percentage change rates.

Having said that the differences seem about right and consistent with the trends in numbers I have seen.

John Edwards (Residex) made a great comment in a recent article…[Read more]

Hi Toolkit,

If you are endeavouring to wrap in WA – (excuse me if I am incorrect, I know bugger all about wrapping and that is my excuse [exhappy]) – but you will need a finance providers licence otherwise you will be operating outside the law in WA.

Check out
http://www.docep.wa.gov.au/media/media/2004/April/Mortga.html

If I am on the right…[Read more]

Hi Giddo,

It was moved yesterday – if my eyes weren’t playing tricks on me.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113

Originally posted by Just Learning:

Quote:
they miss out on the rumoured cold beers that are supposed to be in the fridge in Simon’s office.

Tis only a rumour[biggrin]

If you go to Simon’s for the cold beer you will be disappointed.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113

I believe Terryw is Sydney based.

Mortgage Hunter is in Newcastle and then there are others who are further afield. In today’s world it is possible to ‘do business’ from afar.

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113

Originally posted by ptn:
To answer your question, I believe the conveyancer normally contact the water authority to see if there is any outstanding bill rather than a direct check to see any easement unless instructed to.

That does seem strange.

When we purchased our current block which we have since built on we were required to sign a clause…[Read more]

Hi Jon,

Have been meaning to come back to you with a comprehensive answer. However someone has provided some specific deatils which made it easier to explain (partially).

See this thread https://www.propertyinvesting.com/forum/topic/23083.html

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113

Originally posted by carpe_diem:

Quote:
Originally posted by Derek:
I thought I was in a position of not being able to borrow with no employment but you seem to be saying this is not an issue. Lots of stuff in your note that I’ll have to digest as its different thinking. It may well work out that I can’t go back to work while at the same time…[Read more]

Originally posted by michael76:
Anyway i have managed to convince him if i can find us a 100-200k investment which is +CP i will use my savings (25k) for the deposit and use his investment as equity

At $200K you father will only need to provide a further $25K (assume 80% lend and you provide all of your savings)

I would also suggest very…[Read more]

Hi CD,

Thanks for the offline details.

I’ll post an approach here that will. in all likelihood, provide some debate.

As it currently stands you are asset rich and cashflow poor so an option may be a reverse mortgage or modification thereof.

Currently your debt level is 23% of your overall property portfolio – own home included.

Breakdown each…[Read more]

HI Carpe Diem,

Not a guru but will have a crack at answering your question.

Couple of details will be useful.

Loan debt on IP no 1? 530K value.

Expected years before an income will be coming in again.

How much per annum do you want now?

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113

Hi Teedee,

I wonder why you are selling this property when by your admission it has performed very well and you have an underperforming St Kilda property.

It seems to me that you are selling the wrong property.

You also indicate that you are experiencing some cashflow issues. Have you taken steps to minimise your outgoings and maximise your…[Read more]

Originally posted by mja:
The goal is to reduce non-deductable debt.

My wife and I currently live in our apartment, which has a mortgage of 72.8% LVR and is our primary place of residence. We’re building a house that should be ready in the May-June time period this year, that we will be moving into. Thus, our apartment will then be rented out and…[Read more]

Originally posted by ptn:
The bank has granted us the funds to build the 2 units BUT the water (Melbourne water) authority rejected our building request and refused to grant us a PIC. The reason being is that there is an EASEMENT running across our property. This easement is NOT shown on our certificate of title. According to the water…[Read more]

Originally posted by nellandtony:
We are considering buying our first investment property – the house next door! The vendor will sell privately. What traps should we look out for in regards to private sales?

First potential trap – don’t be seduced by the need to see your property. Make sure this decision to buy (or not) this property is on sound…[Read more]

Hi Steve,

I have a simple spreadsheet which does the basic calculations (totals interest over 12 months etc) but to all intents and purposes is really only a recording tool.

It serves me well and my aco<edited>ant is happy with it.

You (and anyone else) is welcome to a copy.

Just email me with subject spreadsheet and I’ll send one back by…[Read more]

Originally posted by AmandaBS:
I think Derek was putting together a list of books

Eeek – hey Amanda I enjoy a read and read widely (just finished ATO legal database reports on Harts case and related matters) but not making a list. [biggrin]

Derek
derekjones1@bigpond.com
http://www.pis.theinvestorsclub.com.au
0409 882 958
Skype – derekjones2113

Hi Sarah,

Bugger the FBT thing.

As for ITWV – keep your eyes peeled on the ATO website from late April when they will post the forms for the 06/07 financial year.

I try to get my ITWV in as soon as possible after they are posted on the website and generally do all of the preparatory work beforehand.

An accountant will generally do these for a…[Read more]

Hi Sarah,

I don’t believe this is correct.

As I understand it there is capacity for an individual to declare that the vehicle was not used (repairs etc) for an extended period of time and that this is taken into consideration when determining FBT liability.

However, in saying all of that, I would suggest that you contact the group who manages…[Read more]