Forgot to ask… I was trying to solve the missing 25% problem, and make it an IP from the start. Is there anything preventing me getting the extra 25% by using the savings as security for a personal loan?

Glad the government keeps things nice and simple. I was going to ask what’s the point, but that’s just as pointless – LOL.

Thanks.

Is anyone aware of a website that lists ALL the costs in buying a (NSW) residential property? Just when I think I’ve covered every expense (in a spreadsheet), I find another site that mentions another expense.…[Read more]

Glad the government keeps things nice and simple. I was going to ask what’s the point, but that’s just as pointless – LOL.

Thanks.

Is anyone aware of a website that lists ALL the costs in buying a (NSW) residential property? Just when I think I’ve covered every expense (in a spreadsheet), I find another site that mentions another expense.…[Read more]

I know of a guy who purchased a block of land along a highway, planning to build a petrol station/restaurant – based on a backroom handshake with council – regarding future development of the area. With $$$ in his eyes he purchased the land dirt cheap from a farmer, then waited. When development plans for the area were released, the off ramp…[Read more]

How do we still qualify for benefits?  Beyond me.  All I do know is, they assume you're earning x% (I think it's something like 4%) on any assets.  Centrelink then deducts 50 cents for every dollar they estimate you're earning – whether you are earning anything or not.  Payments continue to reduce until above a certain level of assets you get…[Read more]

I wasn't even aware of that – thank you.

We have indeed.  But there's two obstacles.  First, after costs, stamp duty, etc., we'll only have about $287,000 remaining.  There's mostly only hovels here for that price.  The second problem is time.  Several RE agents told us they'd "definitely be able to help us."  We asked them to be brutely honest – and they weren't.  Now we have a week…[Read more]

We really don't know what their problem is.  We are on Centrelink benefits, but we're far from the stereotype.  (We have ~$300,000 in savings, which they know because it's one of the documents we use to provide identity points.)

Thanks… I have suggested that very thing to him. I’m trying to look into other options, in case he feels things are getting more complicated than he’d like.

Hi Richard. I think you might have hit the nail on the head. (When you mentioned minimum loan amount, I think that may be the reason they can’t get a loan with a standard lender.) Also, I’m not sure – but it’s possible they are repaying a loan on the church building. With that in mind, I have two questions for you:

1. If there IS a current…[Read more]

Ok, I have been emailed privately about this. Basic criteria is you need to be an Australian citizen, not completed a Certificate IV (or higher) in the past (only allowed one exemption by gov. it seems), employed full time, and your employer agrees you may do the course (as they are involved in the scheduling and payment process).

I hope it was…[Read more]

Just read your price limit again… Have you considered the Central Coast, Port Stephens (I’m mainly thinking of Raymond Terrace), or possibly even Port Macquarie if you can get a bargain. Also Old Bar.

For example, Raymond Terrace has two Woolworths 3 minutes walk apart. A BigW, Aldi, RTA, ten pin bowling, public pool, new police station, Dan…[Read more]

Yes – Aberglasslyn – that’s what I meant by Rutherford. I always forget it has a different name, because Aberglasslyn was once just a few farms and a dirt road. McKeachies run is new as well, but seems a little more expensive than Aberglasslyn. (Although I haven’t looked in detail. It’s just a personal conclusion drawn from the daily listings…[Read more]

The area south of Charlestown (Windale) has a large proportion of government housing tenants. The NSW Gov. has been selling them off for several years, but the area will take decades (if ever) to improve. i.e. If your neighbour is a drug-using, wife-slugging, foul mouth with a dog that never shuts up, children that always have swinging full…[Read more]

Oh – and reading my question again, I realised someone may take me the wrong way…  I wouldn't be subdividing the block…  Just putting up a temporary fence.  Maybe it would turn out I'd only be there one, or two, years.  But if I *could* last four years, I'd certainly be way ahead.