Hello joelc

I don’t think you need to panic.

Stamp duty is not a charge by the bank …. like valuation fees or loan establishment fees… which you would have to pay since, by signing the contract, you had agreed to do so.

It is a charge by the SRO and the amount is fixed based on their rules. It does not matter what the bank wrote. It matters…[Read more]

Hello vyaw2003

To answer a couple of your questions that you won’t actually “see” at the auctions.

Yes, it would be very smart to have pre approval.

Yes, you need to bring your cheque book though you don’t actually need to have the money in the cheque account loosing you interest. Just ask the agent to delay depositing the cheque for a day or…[Read more]

Hello pauldwilson

This question has been covered many times in the forum and I think it’s fair to say that most people don’t like this as an investment.

If you use the search function (in forum drop down list above) and search for hotel rooms you will find many interesting threads.

To start you off here is one I found for…[Read more]

Hello

When I was a kid in primary school someone from the ANZ bank came and gave us a little talk on money and saving. He also opened up a saving account pass book for each of us. Every Thursday my mother used to give me 2 shillings to put into my savings account. It was the start of a great saving habit.

Not a bad investment for the ANZ bank…[Read more]

Hello summersky

Here is a link to an investment calculator which may help you calculate what rate of return you need to achieve for x years to get you to the income you want to have at retirement.

http://www.landausecurities.com/calculator.asp

Maybe it will help you calculate how aggresively you need to invest to reach your goals.

I am…[Read more]

Is there an approximate start date when asbestos came into use?

Thanks
Elka

Were you ever in doubt?

Who was it that once said that the first million was the hardest.
I think we now have to up that to 2 or 3 million. Inflation you know. [cigar]

Hello Rob

I don’t know of any CD’s but someone on this forum once posted a link to the site below. Of cause they sell commercial property but there is some very interesting educational material on their site.

If you join (free) they will send you seven lessons about commercial investing. Not a bad place to start…[Read more]

Hello trajik

I think summersky (nice name) means that she/he pays an overall rate of 27% (i.e some at 0%, some at 16.5% and some at 31.5%).
That’s possible. [smiling]

I am struggling with the question of to Super or not to Super myself. I am even closer to 60 than you Simon [thumbsdownanim and don’t have any Super at the moment..

I have…[Read more]

Hello Ana

You certainly don’t give anyone much to work on. [smiling]

Seeing as you have already bought the property maybe you could tell us a bit more about it. Maybe someone on the forum has a property in the area.

Rent will depend on location and number of bedrooms/bathrooms/ modern or dilapidated, nice garden etc.

As stated, you should…[Read more]

“I await the blatantly obvious to be pointed out to me, but looks like a good deal.”

Hello d_robb21

The problem is that the rent is $100 per MONTH not per week.

Unimaginable to us here so it’s very easy to miss.

Cheers [smiling]
Elka

Hello ogilvy

Have you had any success with leasing your shop. If so can you please share which strategy you used that worked?

Cheers
Elka

Hello CT

I can’t find the post but if I remember correctly, not so long ago someone posted that there has been a ruling from the ATO that you can not use income from an IP to reduce personal debt instead of paying off loan against an IP and still claim full tax deduction of interest for that loan. In other words you first have to use the…[Read more]

Hello Snowflake

Don’t be discouraged from reading or posting on the forum.

I think that most people work on the principle that no advice is better than bad advice so if they don’t have experience in an area they don’t post an answer.

To answer your second two questions you can get a valuation without refinancing. I would ring up your lender and…[Read more]

This what you mean Grossrealisation?

http://www.somersoft.com/forums/showthread.php?t=28825&highlight=sitloti

Cheers

Hello Munno

I’m a great believer in DIY but not in this situation. The first thing I would do is ring my solicitor. You have a lot of your time and money invested in the property. I assume you had written permission to start reno before settlement?

Good luck
Elka

Hello Snowflake

Had a girl friend who was in the same situation as you and your husband. She was the main income earner by a long shot. When they had a baby, he stayed home with the baby and she worked.

It was certainly a solution outside the box for those days as she is a baby boomer.

Just an added option ?

Cheers
Elka

Hello as41

That would be 5% of the annual rent.

I don’t know where you are in Victoria but it seems high if in Melbourne. I pay 3% letting fee and 7% of monthly rental as management fee. This is all inclusive. No extras for inspections etc. etc.

Hope this helps [smiling]
Elka

Hello Col

There is a thread on this very question that has been going for awhile.
Here is the link. It’s called where to find CF+ deals.

https://www.propertyinvesting.com/forum/topic/22508.html

Hope this helps [smiling]

Elka

Hello

I thought that for a lodoc loan the maximum LVR was 60% (without LMI) At least that is what I was told by my lender, the ANZ bank.

Are they non competative in this area?

Thanks
Elka