Hi,Also if you live in a strata complex you may need permision from the body corp.  As above if its just you working on your own – no probs, but extra visitors or parking and this will raise some concerns in some complexes.RegardsGibbo

Without knowing more…run

Hi,

Not a lot that can be done to enforce the contract with that clause. The main thing is to learn from it and not accept a clause like that in the future.

Regards

Gibbo

Hi Jaq,At best with a OTP, you may have a 7 day cooling off period but they do become pretty water tight once the offer has been accepted.RegardsGibbo

Hate it when when facts get in the way of a good story

Also what Terry has quoted is current regulations, not a bill that may or may not get passed in current form

Without a break fee, banks wouldn’t be able to offer fixed rates. Over a period of time the bank expects the fixed rate to balance out. If a consumer could get a cheaper fixed rate now and then change to a cheaper variable rate in the future without penalty…why would banks offer the cheaper fixed rate.

For some people fixed rates are an…[Read more]

Hi,

What a good broker will do is place your initial properties with lenders with tighter credit policies, as you borrow more then use other borrowers that have credit policies that allow more properties, take a higher amount of rental income into consideration, etc.

Regards

Gibbo

Hi,

As others have mentioned the broker will have to payback the commission. If you talk with the broker about what your aims are they can arrange a service fee to ensure they make money but a good broker should realise that you will become a regular customer in the future and help make it beneficial to both.

Regards

Gibbo

Hi,

Different properties will achieve different returns at different times through the property cycle. 8% rental yield is a great bench mark, but just because its not achieving that doesn’t mean its not a good investment. Definitely keep an eye on the property to see what you can do to be able to increase the rent charged but don’t try and cut…[Read more]

Hi,

If it is your PPOR then you want plenty of capital gain as you wont pay any CGT on it.

Regards

Gibbo

Hi,

This probably is the opposite to what I posted on the thread about defense force housing.

Once again it is risk / reward. Mining towns are giving some great returns…but there are risks. Julia and Swanny love mines so pay for endless cash handouts to by votes. Some mines may become unprofitable overnight with a tax increase. I used to…[Read more]

Hi,

What state are you in? I know of a labatory that tests for it in Perth.

Regards

Gibbo

Hi,

Like most investments it comes down to risk/reward. If you deposit $1000 in a savings account you will have $1001 in a years time. Someone on gumtree may offer to pay you 20% interest so potentially in a years time you will have $1200, but also possible to have nothing.

Defense force housing is the easy and safe option of property investing.…[Read more]

Can normally tell which posts are on the tablet. Terry maybe time for an iPad

Hi,With the various options1) you will loose some tax deductability, but not a bad option depending on various circumstances.2) BAD option, search the forums – plenty of comments3) Redrawing the money off the existing loan will then contaminate the loan as it mixes deductable and non deductable loans into one.  This is close to the option I list…[Read more]

BB2012 wrote:
I am not clear about the issue if the bank cross collaterise the new loan with the investment loan. Can you please explain a bit more?. Thanks for the help.BB2012

Hi,When they cross collaterise your loan they will give you 1 loan for 100% but secure it against two properties.  This can be avoided by having two seperate loans – 1…[Read more]

Plus he dug up a three year old thread so he could advertise on first post

Hi BB,

Welcome to the forum.

Drawing equity of $75k will take the LVR up to 91%, so you will then have to pay LMI for that as well. The ATO will look at what the purpose of the loan is for – being purchase of PPOR it would make the $75k non tax deductible. If you do go ahead with this ensure that they are seperate loans so not to mix…[Read more]

Unfortunately most OTP contracts are pretty water tight and aren’t subject to finance approval.

Hi,

You will find most likely the developer wont negotiate. I bought my current PPOR as a OTP during the property boom in Perth. Some little event called GFC happened between me putting ink on paper and settlement. I would of been down around $50k at settlement and it did continue to fall. There were a number of people who bought a $600k…[Read more]