Forum Replies Created
Hi All,
Thanks for info. I am Australian, my PPOR is in Melbourne and my loan is with an Australian Bank. What got me thinking was a trip to Singapore. Reading a local newspaper I noticed that local banks in Singapore were advertising loans to buy Australian properties as investments and the loan rate was roughly 2% less than our rates in Australia. This made the investments loans more or less cash flow positive whereas for us in Australia, we would be negative geared for the same purchase.
I am not planning on getting a job overseas, so a foreign loan is out of the question. Just hoping that someone has found a way to get a loan from a bank overseas that is a couple of % lower than our current rates!!! Is this too much to hope for!!!
As I understand the "interest rate swap", this would be more short term and only 50% of difference between a fixed and variable rate???
Thanks
Luke…
Hi All,
Along with being a property investor, I also work for a REA, it helps with my investing to know what I am looking for and also what I am looking at.
To give you an example that you don’t have to pay agents big fees to get service, this is how our commission is setup.
House valued between 0-250k = $3,300 commission
House valued between 251-500k = $5,500 commission
House valued between 501-1Mil = $7,500 commission
House valued Over 1Mil= $12,500 commissionIf you have a 400K home and pay 3% +GST, you are up for $13,200 compared to our $5,500
An 800K home @ 3% +GST means you pay $26,400 compared to our $7,500 which add up to some good savings, which you can use for your next property or maybe a holiday!! Our service is different aswell, as you only have 1 person selling your house from start to finishSend me a PM if you would like to know more. I don’t normally push my REA on this forum, but this seemed a relevant topic.
Hi all,
How do you make application to council for a development when the property isn’t even in your name? Do you notify the seller of your intentions and then apply on their behalf. Also I assume the costs of applicatoin and planning are at your own expense.
Thanks
Luke
Email: [email protected]
Web: http://www.changingplaces.com.auHi Slumlord,
Do you put the 80K in an offset account of the property you borrowed from? Also the interest on the 80K you did borrow wouldn’t be tax deductible would it? The purpose of use was to pay of debt not create investment. Could you help clear this up for me or am I off track
Thanks
Luke
ChangingPlaces Real Estate.
Save up to 65% on Real Estate commissions.
Email: [email protected] Web: http://www.changingplaces.com.auHi Matt,
I work for a REA and without going into too much detail, I would say get a second opinion first from another REA. Also in Vic, a REA is required to sign a form, of which a copy is sent to a government department so that they are happy the sale price was fair and just.
Are you happy with the sale price?? Get a second opinion. My thoughts only, I am not giving advice as a REA.
Luke
ChangingPlaces Real Estate.
Save up to 65% on Real Estate commissions.
Email: [email protected] Web: http://www.changingplaces.com.auI have been happy with the way the John Howard has handled the economy and his time in parliament. Better the devil you now I think. Mark Latham is a bit of an unknown in my opinion and from what I can tell he had trouble just running a local council let alone a whole country!
Luke
ChangingPlaces Real Estate.
Save up to 65% on Real Estate commissions.
Email: [email protected] Web: http://www.changingplaces.com.auHere is a link to the media report
Luke
ChangingPlaces Real Estate.
Save up to 65% on Real Estate commissions.
Email:[email protected]I heard the company Bill (winner of apprentice) was employed to run went broke and the project for the building has gone down the tube.
Luke
ChangingPlaces Real Estate.
Save up to 65% on Real Estate commissions.
Mobile: 0421 224 696 Email:[email protected]Aceyducey,
I don’t know how old you are or what your plans are. But for me being in my 20’s, with a 3 and a 1 year old and another unborn. 80 years is bugger all in a plan for this generation. Throw in a couple of investment properties, and a farm. How do you expect the farm to be passed on if the trust expires in 80 years. To answer your question, no 80 years is not long enough. Maybe you don’t plan on being here in 20 years!
I found out that trusts only last for 80 years. How are you going to pass the trust to you kids when the trust expires and they have to transfer everything to a new trust and pay CGT or sell everything and pay CGT?????
How do you get around this??
Some agents offer a fixed fee for selling now.
This would seem to be more fair as the amount of money an agent would receive for selling your house for $10,000 more would be $200 (2% of $10,000), then take away 50% of the money retained by the company and the sales person gets $100 for selling your house for $10,000 more.
Some agents might not push the buyer for a better price, just get is sold. A fixed fee would be better from my point of view.In Vic, the consumer.vic.gov.au website has a form section with all the forms that agents use, they are free for personal use. Agents have to pay (I think). Tenancy agreement, notice to vacate, condition report etc etc.
Hi Misty,
You mentioned the cfa, Do you mean the Country Fire Authority? For what reason did you ask for the owners contact details.
Thanks
Luke…
Same thing with Simonds. All the advertising on radio and TV about how great they are doesn’t mean there builders are any good. We had a place built with crooked walls and because we had about 5 different site managers along the way no one would take responsibility. Since sold the house and moved on. Wouldn’t go near a big builder again.
If you still have an exclusive authority with your first agent and you liked them, then I would be telling the second agent with the buyer to approach you via your first agent. This way both agents would split the commission by whatever agreement they came to.
Hope this makes sense.
Luke…
Thanks 007,
Your answer makes sense if the land was vacant. Do you think there would be a different answer if one of the blocks had a house on it. Would you then need to take into account the land value and the house value to derive the percentage that would be accessable for CGT?
Luke…
Hi Ibuycashflow,
I do have the cash to pay for the pergola fully. I thought if I could do it, it would be more wise to pay some money of my ppor (not deductable) and then redraw via a LOC and then claim the interest. The one thing I wasn’t sure of was when using money from my LOC for a capital expenditure if I could claim the interest as a deduction
Thanks for your help
You can download all the forms you need from the Consumer Affairs Vic website
http://www.consumer.vic.gov.au/cbav/fairforms.nsf/consumer?OpenView&Start=1&Count=100
Hi Pisces
The property was advertised as a commercial premise. The business using it is a textile type company using it as a shop front. What do you think it should be classed as?
Luke…
Thanks for the replies,
Could anyone recommend a website or 2 that have some general commercial property for sale so that I can get a rough idea of how this property stacks up against others.
_se7en_ what sought of businesses do you general find are sold with the building included.
Thanks
Luke….
