I don't see anywhere on my ballot an option to select 'no confidence' against all of the running parties or the entire system of government as it currently stands… That is the real problem.

I call bullsh*t on the whole show, and vote Terryw for emperor! haha

There is the tax concern also.

If you are borrowing 550k for your new house and you have 550k equity in the investment property, then you may not be getting the best tax advantage.

There have been numerous threads on this topic also, so recommend you do a search on that topic.

Thought there was a min width too…. Had a valuer looking at only of my places where I'd made a room out of another space, and it wound up 4m long but only 2.7m wide … Valuer measured it and mumbled 'that's just wide enough' then carried on taking notes.

Investors are fine, but there is also the 'private lending' route if all others are tapped out. You will likely pay considerably higher interest, and may or may not need to put up some security still (depending on what you can negotiate with the lender), but can carry on working. If the numbers stack up, that is.

As with anything though, you…[Read more]

right, which is the date that the contract goes unconditional, not the 'cooling off' date. In my last experience the 'unconditional'  date was around 2 weeks into a 30 day settlement period.

So, Sam, looks like your folks have an out if they want it. Will still cost them a bit I am sure, but gives you something to talk to the solicitor…

Ok so correct me if I'm wrong guys, but if you have signed conditional on finance and have had issues with the finance then you should be able to void the contract…. What then would the penalties be?

Did they sign 'subject to' any conditions? and has the contract gone unconditional yet?

Oh and if you try this, don't forget to let us know how you go! : )

Sounds like a tough one…

Maybe talk to a property valuer, and see if you can get them to do a retrospective desktop valuation based on comparable sales, using data from 10 years ago.

It may be a long shot, but If yes then you'll get your valuation. If no, then you've only lost some time and the cost of a phone call.

*Double post, deleted*

Hi Tambo,

Communication is key.

It doesn't really matter where your solicitor is, provided they are communicating effectively with yourself and other parties and can make themselves available for face to face meetings if/when required at the location required. 

Even face to face meetings though don't always need to be held in your home town…[Read more]

Here is a link from a google search on the benefits of prepaying interest:

http://www.macquarie.com.au/mgl/au/advisers/keep-up-to-date/oxygen/may-2011/interest-in-advance

Looks to me like the only real benefits in paying in advance is being able to claim this year instead of next year, as terry has mentioned above, and that you can lock in a…[Read more]

Hi Tambo,

My understanding is:

Depreciation applies to things that are installed but can be picked up and removed or replaced, such as air conditioners, kitchens, hot water systems… etc.

Capital allowance relates to fixed items like a carport, window, or the whole shell of the property.

As Richard mentions above, 'depreciation' can be…[Read more]

Not to hijack this post, but if you wanted to do a development under your own name or some other structure for which you are the director or beneficiary, can your smsf invest in that trust or even just lend money to it or yourself at a particular rate of interest?

i guess what I am looking at here would be if you wanted to secure a deal outside…[Read more]

Is it a PPOR or an IP?

If an IP you may be able to submit a PAYG tax variation so that you get that part of your tax return related to the property back in your pocket each week, rather than at tax time. Something like that would improve your weekly cashflow without actually changing your mortgage repayment.

Accountant types on here will be able…[Read more]

Well the big one for me would be: to implement more short term goals!

I set a target 4 months ago to pay off my car loan by christmas. I Bought a camping trailer, and had someone run up the back of my parked car without leaving a note… but still managed to pull it off a fortnight earlier than my initial target. And a full 4 years ahead of the…[Read more]

Aloha wrote:

Richard, I'll do exactly that  – I'll be well below 80%. The rest (about 100K) I'll set aside for getting the DA and some more in reserve for the next stages.

Hi Aloha,

Just reading into your statement.  I think what Richard mentioned was borrowing 80% of the land value (400,000), using only a 20% deposit (100,000). Then put…[Read more]

A wise man once said "if it flies, floats, or ….. , rent it."p

… Not that I can talk, got married this year. Lol

Thanks all for your comments, that's great feedback. A few things I did not realise, like the council charging twice for rates even on the same title… so that is definitely something to investigate further!

For a bit of background on my specific situation: 

My PPOR was a bit of a rundown Queenslander in Ipswich QLD (about 40 mins west of…[Read more]

What about sliding the house into another location on the same block? I.e. move it 1  meter this way or 30 meters that way…