duckster replied to the topic Possible to use equity in my (unusual) situation to purchase second home in the forum Help Needed! 13 years, 6 months ago
Can you borrow money from this strange lender against any increase in equity that may have occurred.Like a small equity loan to use as a deposit for another lender?
duckster replied to the topic How to avoid a kick in the teeth in the forum Help Needed! 13 years, 6 months ago
A longer settlement time is the way to go next time. You get any property value increase and the purchase price stays the same.Have any item you value written in the terms of the contract .
duckster replied to the topic Subdividing in Narre Warren, Victoria – Builders or any helpful advice in the forum Help Needed! 13 years, 8 months ago
Have you heard of Metropole they advertise in Australian Property investor magazinethey may be what you are looking for – I have never used them so you would need to check them out yourselfhttp://www.metropole.com.au/develop-a-property/
duckster replied to the topic IS my accountant off the mark…??? in the forum Legal & Accounting 13 years, 8 months ago
Depends on the expenses you incur !You could be out of pocket by that much 475k mortgage at say 7% interest = $640 dollars a week Expenses like insurance, council rates, water rates = $2000 guessimate per year could be more ! $40 a weekNow up to $680 a week Rent was $475 a weekSo net income = 475 – 680 = minus 205 a week$205 * .30 = $61.50 back on…[Read more]
duckster replied to the topic Interest Payable for IP in the forum Legal & Accounting 13 years, 9 months ago
I.Prop wrote:
Gday everyone, It's a happy place to be when one can find a forum with like minded people! I have a question that could do with some answering please. Here's my scenario: I have a personal credit card with a high amount of credit available and I have been using this card for my personal expensesSo it has a private loan purpose…[Read more]
duckster replied to the topic What happens in a negative equity situation in the forum Help Needed! 13 years, 9 months ago
When you sell the 400k property you made a capital gain of 80k – 25k = 55k which may be liable to capital gains tax that you would be required to pay tax on. Also the sales agent may require a commission on the sale out of part of your 80k profit.Usually banks lend out to 80% of the LVR on equity meaning you will only be able to borrow to 320k…[Read more]
duckster replied to the topic Property investment in Reservoir Vic in the forum It has good public transport 13 years, 9 months ago
It has good public transport by train and by tram from west preston.
duckster replied to the topic New Member in the forum Help Needed! 13 years, 9 months ago
Property investing has an overseas deals forum area.This web site I found may suithttp://www.propertyshowrooms.com/forum/Forum37-1.aspxbut I have not used it and it seems to have a low number of members on it.
duckster replied to the topic I have a family trust, Can I use it buy property and rent back to myself for Negative Gear, And how about I pay off the mortgage in the forum Legal & Accounting 13 years, 9 months ago
I do not know anything about this scenario or how the tax office treats this setupbut the link below may be useful but I recommend you seek professional accounting advice before committing to any tax minimisation scheme.http://www.quinns.com.au/Editorials/YIP16-How-to-max-out-your-tax-benefits-through-negative-gearing.pdfTax ruling I found on the…[Read more]
duckster replied to the topic Reno starting point in the forum Help Needed! 13 years, 9 months ago
Garden Last
duckster replied to the topic Residential Tenancy Act 97 in Victoria does not apply to PPR? in the forum Learning to be a Landlord 13 years, 9 months ago
Learning to be a Landlord workshopThe workshop will be held at Carlton Baths Community Centre, 248 Rathdowne Street on Thursday February 10 from 6.00pm to 8.00pm. For bookings, please call Cindy (phone number is on web page below via link below) by Tuesday 8 February.…[Read more]
duckster replied to the topic Less Income – But Still Able to Invest? in the forum Finance 13 years, 9 months ago
One thing to mention. Once your income drops the lenders will lend a lot less or no loan at all . While you earn income the amount lent will be higher.I have been in this situation for 6 years as a stay at home dad and my borrowing capacity is a lot lower than when I worked full time.
duckster replied to the topic Buying a property from new owner before settlement in the forum if the property has settled 13 years, 9 months ago
if the property has settled with the builder then stamp duty would be payable twice when you buy from the builder.This can happen but I think the contract has nominee placed on it but varies from state to state see last link.read links below for more information on this…[Read more]
duckster replied to the topic Country homes for sale under$50,000: Search techniques? in the forum General Property 13 years, 10 months ago
Be really careful is it in a flood zone ? !!Jeparit looked good but it recently was flooding
duckster replied to the topic Dodgy Accomodation in the forum Legal & Accounting 13 years, 10 months ago
Bed bugs are a rising problem in Australia and are hard to treat as they live in mattresses and in carpets and floor cracks.Steaming the bugs or replacing the mattresses seems to be the only effective method.visit this site.http://www.consumer.vic.gov.au/and may behttp://www.vcat.vic.gov.au
duckster replied to the topic finance for investment property on centerlink pension? in the forum Help Needed! 13 years, 10 months ago
I recommend you have a read of Goodbye Welfare You may be able to relate to this author as she was in a similar situation like you are at.It may be in your local library that is where I came across it..http://www.goodbyewelfare.com/
duckster replied to the topic Fixed rate or variable on PPOR? in the forum Finance 13 years, 10 months ago
No one wants to predict how future interest rates are trending and if they advised someone incorrectly then they could be liable.If you fix your rate and lost employment and had to break the loan the break costs can be large.Are you likely to be able to make extra repayments ? If yes then this is when a split combination loan allows you to make…[Read more]
duckster replied to the topic portfolio sub-account or line of credit? in the forum General Property 13 years, 10 months ago
With a LOC you do not have to state the purpose and if you do it is not critical to you getting the LOC.With the break free you are charged a $375 yearly feeit is a professional package and may only be available to lenders with higher loan amounts.LOC is used to unlock equity that is usually being wasted and the owner has a lower loan. I am in…[Read more]
duckster replied to the topic sub floor to lay click clack wood floor in the forum Value Adding 13 years, 10 months ago
I have seen a product that evens up floors used by a lino tiler when my dad was renovating a house and employed a tiler.I would recommend laying a Masonite on the floor and then using this product to level the…[Read more]
duckster replied to the topic What is a good renovation/DIY book for ideas on how to keep costs down and also how-to do things with doing own reno? in the forum Value Adding 13 years, 10 months ago
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