I know I won’t be spending a cent on RE in NSW. The tax laws are pretty bad in Australia already, but this just takes the icing on the cake. Saying that though, people who rent out properties owned in NSW, be prepared to start charging alot more rent, as rental housing stock will go down dramatically, and so there will be higher demand [].

The…[Read more]

Very little on the investing side (except get your houses on TodayTonight!!!), but good to see what are market expectations for presenting.

As I said before, a tad disappointing for the investor (it was 100% on the seminar sie of his business).

Rgds.
Lucifer_au

The chief of the Mortgage Industry Association of Australia, Phil Naylor, noted that 74 per cent of the consumers enlisted for the investigation were reasonably confident or very confident with the broker they dealt with.

Non-disclosure of fees represents only 5 per cent of the complaints made against mortgage brokers to the Credit Ombudsman…[Read more]

This arguement is in some ways rediculous. It all boils down to what Steve McKnight said Vrs what Channel 7 said…. But in the end who cares? The closest example I can find is NATO in the Balkins, part of it’s mandate/goals is to arrest suspected war crimnals, it hasn’t got all of them – but would you deem it a waste of time? NO. Because it has…[Read more]

“Who would you choose, good tenants with great history OR potential risky tenants in desperate circumstances?”

Well theres two points to consider here. The fiirst is risk control – are the risky tenants likly to stop payting rent and you have to carry the house for a month? Do they trash places? If they do the above then you have to factor that…[Read more]

“Firstly he claims that Garantors are no longer the done thing. Apparenlty the banks just aren’t into them anymore.”

>This is true. Banks don’t want the bad publicity of trying to take a Garantors house or other assets. banks will accept them (gladly), but it makes little difference if your loan is approved or not (unless the Garantor is kerry…[Read more]

As I suggested write it in a Diary. That can be presented as evidence; You can give a letter, but compared to a Diary it is very poor (and wil mostly likly be ignored)

You didn’t memtion their own internal complaints department. Did you use them or not? If you didn’t perhaps ring them up and tell them very nicely that you want to talk about it,…[Read more]

Yes wraps are real BAD! And I will tell you why….

Purchased prop. in Tasmania for $15K, sold on 30yr contract, with extra $5K on the price. Now within 1 yr all the property prices had risen to $50K!!! How bad a deal is that for the wrap buyers!! – terrible!!!! Not only did they get a house (which the bank refused to lend them the money), but…[Read more]

Well theres equity in your other 4 IPs that you could use, as for saving it, you don’t need to save it all at once, you can get your properties revalued every 6 months, so buy 5 now, get them revalued, then use that equity and what you have saved to buy 5 more.

Of course it is alot harder that the market is going cold (so you don’t get the rapid…[Read more]

L0L,

Good to see humor still in abundance!! Well just re-wrap ’em (and get that glowing feeling of getting another $7K FHOG).

Rgds.
Lucifer_au

I’ve herd it’s mortgage insurers, as well as PR section of the banks (public relations).

As for 90% loans, work out total up front costs for each scenario, and figure out which one is cheaper.

As for banks and wraps, what are you currently doing at the moment???? Even at 80% lend, you still have to inform the banks if there are any material…[Read more]

I would start to pull together a team for this. You need to discuss this with a lawyer. In fact I would go to a lawyer ASAP to fnd out what your rights are. Also create a time line of when events that have happened (remmember names and as much detail as possible).

Also, did you use the banks on internal complaints department??? Perhaps it would…[Read more]

Banks like Garantors but in the end you won’t be rejected because you didn’t have one. Rather it will be LVR as well as income level.

Due to the short history of your employment in SA, you might be required to come up with a higher deposit (perhaps a broker can help…).

Rgds.
Lucifer_au

Commercial is differnet because the price is determined by a big part on wether there is a paying tennant, as well as how long their option on the premises is (as well as how rent increases are worked out (specified in the contract)); so there is no real formula – you have to crunch the numbers.

Rgds.
Lucifer_au

George1 doesn’t the gov. regulate us enough as it is?????

Taxes: Stamp duty, Land tax, CGT, GST, PAYG, FID, payroll, etc, etc…

And thats just with taxes – I would hate to see them try to regulate, well anything …. But maybe I become a capitalist…

Rgds.
Lucifer_au

His book as one of rich dads advisor wasn’t ment to teach you how to invest in RE, but why RE is one of the best ways of creating and making wealth.

As for the other book… which one????

Rgds.
Lucifer_au

Wraps is simply trading stock – just this time your stock is property, rathyer than another item.

Steve is 100% correct, so 0% CGT.

Rgds.
Lucifer_au

Specify it in the contract then. “Vendor is responsible for insurnace untill settlement”. Quite easy…

Rgds.
Lucifer_au

I make 50% CoCR for Residential property, but commercial does have certain benefits (higher “return”) and drawbacks (the biggest is if you can’t find a tennant, due to something outside your control – like Westfield opens up near your little shop, also higher deposits are req.).

Rgds.
Lucifer_au

Sorry I should of said pay them off and get rid of them – go get a LOC or something instead, or ReadyCredit (quite high int rates but it has certain,… benfits…).

Also a soon as you pay of a credit card, you have a ROI of that amount (so if your credit card is say 14%, you’ve made 14%, by not having to pay it off on easy monthly payments.

If…[Read more]