Hi Shahin  sorry went with Heritage as our other investments with them under a professional package plus did have our home loan with them until we recently paid it all off. We don't pay the package fee it is waved as we have above a level of borrowing with them and no on going or establishment fee's either

TheFinanceShop wrote:
Hi Jean,

I just had a look and wow seriously. Are you sure the builder has a licence to build?

Do you know how expensive it would be to fix the storm water pipe and they didn't put drainage on the balcony?

People that do not understand NRAS will generally knock it. General stock (particularly those in Brisbane) are…[Read more]

Shape wrote:

JPS25 wrote:
Got past the solicitor who was against NRAS on the grounds that it was social housing

*slaps forehead* NRAS is NOT social housing…

To be eligible for NRAS, the tenant NEEDS to be working….

I know Michael its laughable

Not looking forward to him finding out we are pulling out unless the builders can give…[Read more]

Hi Shahin just copied and pasted what was wrong into an email for you it was a list of 16 and that didn't include real minor ones that you expect.

Jamie I am Heritage Bank

I did mention when picking up loan docs about reviewing it in light of report and that we were getting a friend in the building business to look at the report for us and…[Read more]

Well I jumped through hoops getting this one
Solicitor didn't like it because it was Nras or social housing as he called it
I made the contract subject to finance and also subject to both the valuation and building inspection being satisfactory to Paul and 28 days on everything
Our bank asked question after question but the 2 loans did get…[Read more]

IP 3 all approved just waiting on loan docs

Holiday to Penang for 2 weeks all booked for March we are looking forward to meeting up with my sister and brother in law from England there I haven't seen them for 3 years be 8 years for Paul

Lots of great company sun food and drink what could be better

Great advice from JacM

PPOR recently paid off first 2 IP's doing well, they will be cash flow positive after tax. In the middle of applying for finance for IP3 hopefully it will be off the ground in January. This one will also be cash flow positive after tax. Will be getting low on equity so will have to wait a bit for IP4

Yes I have been checking the for sale, sold and for rent in the area for a while now and also the past rentals on another site.

Its a nice quiet area or seems it as I have gone for a general walk around a few times. There is a mixture of old and new about but yes happy with the area from what I have seen on foot and from driving around when Paul…[Read more]

Thanks Derek

Having our solicitor insert the conditions on Tuesday and witness signing of the contract

So glad I got a stamp made a few months back as I would be in there all day if I had to hand write the Power of Attorney stuff over and over

Thanks everyone for your help

Hi Scott

I think I understand what each amount is set for.

I am more interested in whether the level for the Insurance is set right, that everything is fully covered, plus enough going into the sinking funds 

I did speak to the Mark from Ernst who are going to be in charge of the insurance side of things and he said that it was just a guide at…[Read more]

Hi Richard and JacM

Seeing him again on Tuesday as I told him I wanted to put subject to valuation satisfactory to Paul in along with a building inspection one too. After Paul sent him an email and followed through with a call to him he is finally going to do it for me, I want to be covered in case it does fall short.
Purchasing direct from the…[Read more]

Hi Scott

I don't think we are as the high rise have at least 2 extra columns of costs that the townhouses don't have they are looking at $3300 and above depending on buy in and size the townhouses are $1850 up depending on size. Certainly hope not I know it did cross my mind but with the units having at least two extra costs added I thought that…[Read more]

Hi Derek

No Pool glad to say. There are lifts in both the 3 and 4 story unit buildings they have been slugged extra charges compared to the townhouses.

Our BC fees are set as $1726.56 plus allowing $128.26 for insurance so we will be up for approximate $1854.82

BC's for the whole 69 units is set at $182,320.14 of which $6875.12 of it is the…[Read more]

Hi Richard

Thanks for bringing this post up again

I went to our solicitors with a contract in hubby's name for our 3rd IP (I have POA) and he was very critical of it

I know it was an Nras one and he openly admits he knows nothing about Nras and just assumes its social housing which it isn't.

We have found a decent one only 12km out of the city…[Read more]

Wandoan is probably a good hour past Miles about 2.5 hrs in from Dalby at a guess

Short leases probably need to be done this way but should have been in your lease that you signed with the agent. They shouldn't be able to change it to suit them when they feel like it if it is not already there.

You need to check your lease

No point changing…[Read more]

Definitely in your offset as will will help reduce the interest added to your mortgage

We started investing in properties end of 2009 and have now paid out our PPOR

Everything extra now goes into an online savings in my name ( I am not earning so no tax) and Investments in hubby's name

We do have an offset with IP accounts but choose to use it…[Read more]

Thanks Richard and Scott

I will definitely do a building inspection best to know know than a few years down the track

Body Corps Management is going to be through Ernst but are not signed up until buildings are officially finished and cleared by council mid Jan. I spoke to Mark who will be managing the insurance for the complex of 13 Town…[Read more]

We built our first house in Chinchilla, handover was in June 2010. We had it valued in Augest this year as we are in the process of building a second there, almost complete, and it has gone up by $50,000 just on the banks valuation. So I agree with ALF there has been a lot of capital gains over the recent years. Rents are moving slowly upwards to…[Read more]

Hi Ok the $2000 was on top of the already fixed price contract for a new investment property, so this is what they said we would need to pay above our already agreed contract price. This is why it seems low as stated above the type of brick used wouldn't have to be factored in they could use anything. They are also the developers of the estate and…[Read more]