Total Members: 159,074

J-lou

  • J-lou replied to the topic Subdivision approval – What’s next? in the forum Value Adding 12 years, 9 months ago

    The approvals are in place so it would be a waste to not subdivide before the expiry, add to that the LG regulations have changed since it was approved and we wouldn't get approvals to do it now.We've made a decision re the front block now, we are going to build on it.  Thanks for the advice re planner, I am going to ring the council on monday.  I…[Read more]

  • J-lou replied to the topic Your Questions to Steve McKnight in the forum Help Needed! 12 years, 11 months ago

    What are the common traps and pitfalls we should be aware of as first-time developers when subdividing a property?

  • J-lou replied to the topic Account management help in the forum Help Needed! 14 years, 3 months ago

    If your worried about spending the balance, why don't you divert what currently goes into Acct 2 into a seperate account, and leave acct 1 and 3 in your offset?  That way you won't be tempted to spend your savings on luxuries, and still have the majority of your income offsetting your mortgage.Jess

  • J-lou replied to the topic Do I have to pay GST? in the forum Legal & Accounting 14 years, 4 months ago

    Thanks so much for your responses!  It seems there are just no hard and fast rules with the ATO, so it pays to see a few educated opinions. 

  • J-lou replied to the topic Renovating from a distance in the forum Value Adding 14 years, 4 months ago

    Thank you so much for your responses!  You have raised some excellent points that I will definitely be taking on board.  I have 6 months to set up my 'system', and I will definitely be providing all my contracters with a comprehensive document outlining the whole project – thanks for that insight Jane!Ana – I agree that communication is p…[Read more]

  • J-lou replied to the topic Renovating from a distance in the forum Value Adding 14 years, 4 months ago

    Thanks so much for your comments!  For my first one, I am planning on personally inspecting the property before buying, so the costing up hopefully won't be too much of an issue.  This will also have the advantage of personally meeting the tradies before they start, which I'm hoping will that take away a bit if the anonamousness (!) and make t…[Read more]

  • J-lou replied to the topic Closing an option deal. in the forum Creative Investing 14 years, 6 months ago

    Thanks Terry and Matt,Re – the norm – my baby-strategy isn't exactly the 'norm', either…. ;)   There will be enough incentive to the owner that they will be happy to give me a $1 option, if it all works out!   Still lots of formulating and work to do though – I appreciate your advice guys.  Thanks heaps!

  • J-lou replied to the topic Closing an option deal. in the forum Creative Investing 14 years, 6 months ago

    That's interesting about NSW – in my plan the option fee would be literally $1.00, so that opens up another new area to look into.  Where is the best place to look / contact to keep on top of these regulations?   

  • J-lou replied to the topic Closing an option deal. in the forum Creative Investing 14 years, 6 months ago

    I've heard that in some states Stamp Duty is payable, but not others.    Thanks for your response! 

  • J-lou replied to the topic Closing an option deal. in the forum Creative Investing 14 years, 6 months ago

    Thanks so much for your responses!The way I intend it to work is that I would add value to the property before onselling, so there 'should' be considerable gain on the option.  I'm very familiar with share/equity options, and can see so much potential with the equivalent property options but I need to know every detail about the ways to…[Read more]

  • J-lou replied to the topic Closing an option deal. in the forum Creative Investing 14 years, 6 months ago

    That's what I hoped to hear!  Are there any challenges in selling a property that you don't hold title for in the traditional way?  ie through an agent?   Are most agents willing to do this?

  • J-lou replied to the topic Finance – this seems odd! in the forum Help Needed! 14 years, 10 months ago

    ktastrphe wrote:
    if you want to borrow more, you will need to use your LOC as a 20%deposit  (or 10% if you are prepared to pay LMI) and go through a different lender. KT

    That is exactly what I'm trying to do :)   I don't want ot be cross-collaterised.

  • J-lou replied to the topic Finance – this seems odd! in the forum Help Needed! 14 years, 10 months ago

    Cheers, will PM Richard.

  • J-lou replied to the topic Finance – this seems odd! in the forum Help Needed! 14 years, 10 months ago

    Has anyone heard of Nooo Commissions before?  I just found them on the internet.  I am perfectly happy to go for a non-bank lender, I have found them in the past to be way better than the big 4.  'My Rate' has been really good, but don't offer offset account, which i need this time.

  • J-lou replied to the topic Finance – this seems odd! in the forum Help Needed! 14 years, 10 months ago

    It still seems really low…. I want to borrow about $340!!   then use part of the the LOC to renovate it, then rent out.We can easily repay both mortgages with the house leased out, we have such low expenses, good income and no debt  that needs our income to repay it.  Plus a great savings/repayment history.  A broker will be the way to go for sure. 

  • Hey Mike,Can you do these reports for WA?Cheers,Jess

  • Thanks Mike, a very interesting report!  Funnily though, the report gave a value $100k less than my recent bank valuation which is odd?!The only reason i can think of is the street rating – there aren't many houses on the street and I don't know how mine compares to them, porbably better (closer) views, but not sure about the standard of the…[Read more]

  • J-lou replied to the topic Lease to Buy question in the forum Creative Investing 14 years, 10 months ago

    Okay.  Thanks for your response!

  • J-lou replied to the topic Home equity for share investment loan. in the forum Hi,
    I recently did the very
    14 years, 10 months ago

    Hi,I recently did the very thing you're speaking of – I found it difficult to get another bank to loan me the money without refinancing my entire loan.  I am happy with my current lender, so I ended up getting a LOC for my sharetrading with them.It seems that the banks are a little skittish about giving out a second mortgage.

J-lou

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
159,074

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!