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  • Profile photo of jacqui_03jacqui_03
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    @jacqui_03
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    March 4, 2011 - 3:16 am

    Pink boy do you include stamp duty when u calculate net yield?

    Thanks,

    Jacqui

    Profile photo of jacqui_03jacqui_03
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    February 21, 2011 - 8:05 am

    I have to agree with Corie.

    I do negotiate higher concessions with the banks however I find it more important to get a lender who can turn deals around quickly and who is willing to lend you the money to continue to build your portfolio.

    I have loans with CBA and Westpac and I find it frustrating that Westpac takes 2 weeks to get it unconditionally approved when all info and docs are provided on day 1 where CBA has it unconditional in 1-2 days.

    The discounts I get with CBA are currently better than Westpac but it’s purely based on holdings. We chose Westpac due to flexibility with their offset account

    I like the idea of building strong relationships with a couple of major lenders so you can take the best loan at the time and if one bank says no you always have the other to turn too.

    Profile photo of jacqui_03jacqui_03
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    February 14, 2011 - 6:29 pm

    I was signing up loan contracts last night with Westpac and in the documents it request a copy of building cover prior to proceeding to settlement. I havent been asked this before from other Banks so I will need to arrange prior to settlement.

    Cheers,
    Jacqui

    Profile photo of jacqui_03jacqui_03
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    February 13, 2011 - 4:08 am

    I thought CBA only were lending 95% for owner occupied not investment?

    Profile photo of jacqui_03jacqui_03
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    February 9, 2011 - 4:45 am

    BMT offered a similar discount of $65.

    They were cheaper than Washington Brown.

    Tried calling Corpred and phone was disconnected and every time I have tried getting onto them goes to a third party message bank service?

    Wonder if they have closed? Seems dodgey to me!

    Profile photo of jacqui_03jacqui_03
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    February 8, 2011 - 7:36 am

    Hi NOS1,

    What percentage or $ discount did they offer you?

    Which company do you use Scott No Mates?

    Cheers

    Jacqui

    Profile photo of jacqui_03jacqui_03
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    February 8, 2011 - 7:07 am

    How did you go with your accountant?

    Profile photo of jacqui_03jacqui_03
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    February 7, 2011 - 8:56 pm

    Haha that’s very nice of you Jamie!

    I look forward to seeing it. I should put the $50 towards a course in excel!

    Thankyou Jamie!!! :)

    Profile photo of jacqui_03jacqui_03
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    February 7, 2011 - 8:06 pm

    Catalyst and Jamie,

    Did u create your spreadsheets yourself or did your accountant provide them?

    I’m hopeless creating excel spreadsheets so I was considering buying one off bantac accountants for $50?

    It’s meant to make it easier come tax time and supposely reduce your accounting fees.

    Thoughts?

    Jacqui

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    February 7, 2011 - 10:54 am

    MrLasVegas,

    Thanks for starting this thread as I am in the process of organising a better filing system and this has been very helpful.

    Cheers,

    Jacqui

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    February 6, 2011 - 2:06 am

    Is a QS report similar to like a pest and building where they have all the disclaimers in there to say they take no responsibility etc?

    Which company do you use and what price is reasonable to pay for a full inspection , QS and scrapping report?

    Does anyone get any discount vouchers with BMT?

    Profile photo of jacqui_03jacqui_03
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    February 4, 2011 - 9:19 pm

    I know CBA offer a 10 year Interest Only term, I have always been a little worried about going in that long though as I heard it can have a negative impact when the Banks use their servicability calculators as they work out a much higher P&I payment after the IO?? I know with CBA if you are switching back to any term above 5 years IO it will have to be referred to credit for assessment.

    Can you clarify this for me Jamie?

    Cheers,

    Jac

    Profile photo of jacqui_03jacqui_03
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    February 4, 2011 - 9:09 pm

    Hi Dr Spock,

    The way I was told to go by was bathroom, kitchen, laundry, paint, light fittings, carpet/flooring, blinds/curtins.

    I guess it depends on what work needs doing.

    Cheers,

    Jacqui

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    February 4, 2011 - 1:08 am

    Ok good luck!

    I hope it’s ok with the ATO.

    Profile photo of jacqui_03jacqui_03
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    February 3, 2011 - 7:56 pm

    LowRentRacket, let us know how u go with your accountant and the private ruling. I was considering the same set up to maximize the up to 55 days interest free and award points.

    Cheers,

    jacqui

    Profile photo of jacqui_03jacqui_03
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    February 2, 2011 - 6:20 pm

    Thanks so much for your help Terry.

    I do pay the CC in full every month so never pay interest so hopefully it will be ok.

    To be on the safe side the next renovation I do I will have all drawings from the LOC.

    Cheers

    Jacqui

    Profile photo of jacqui_03jacqui_03
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    February 2, 2011 - 7:38 am

    I’m a little confused so will clarify a few details with you.

    CC has been used for investment and personal however only investment purchases have been paid with LOC.

    Eg. If I spend $204.95 I would pay exactly $204.95 back from LOC and put a description in to marry up what’s been paid.

    I haven’t ever paid for personal expenses using the LOC. I don’t pay the total closing balance using the LOC only the amounts used for investment.

    I want to know whether the interest I’m being charged on the LOC will still be deductible?

    Profile photo of jacqui_03jacqui_03
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    January 30, 2011 - 3:56 am

    I should probably check with an accountant to see what they recommend?

    Is your accountant based in Sydney?

    I was thinking of trying bantacs accountant, I think they have an office in burwood.

    Profile photo of jacqui_03jacqui_03
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    January 29, 2011 - 11:09 am

    Can anyone who regularly renovates advise whether I am best to get cash jobs so it’s cheaper or should I always get receipts for work carried out. Eg materials and labour

    I am a little unsure of what can be claimed and what can’t.

    If I have a depreciation report do I still need receipts?

    Cheers

    Jacqui

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    January 26, 2011 - 5:31 am

    All the best with the reno Jamie.

    I would be keen on buying in Canberra or Queanbeyan.

    Can you recommend any suburbs in Canberra which are worth investing in for cap growth and yield?

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