The final inspection before settlement is there to ensure that everything is in place as per your initial viewing when you put the offer in, to verify the appliances are in working order and have not gone missing, etc.

Unless you have included a clause regarding the place having to be clean or cleaned, and rubbish / junk removed, then you really…[Read more]

Whoa Kwaka boy…..
The first thing you can do is learn some net etiquette.
When you write in caps, it is the equivalent of SHOUTING !!!

Try using lower case writing…its also easier to read.

What you are suggesting sounds interesting.
It can be win/win for both parties but it is very important that you document everything in the form of an…[Read more]

Sounds a bit strange…
Are you saying that you are managing to borrow 86 to 89% of the purchase price ?
You are usually struggling to get 80% lvr for a commercial property.
Can you explain what you mean by your 86 to 89% ??

kp

babu,
you have presented a lot of suppositions and allegations.
Sounds like most are hard to prove.

Best thing for you to do is move on and find something else.
No sense getting hot and bothered over something you have no control over.

kp

I’m not trying to advertise the property…
Was just adding some numbers to clarify the situation.

These properties tend to sell to the local market anyway as there is more demand than available properties at the moment.

Kay does have a point….based on the market price its a bit touch and go. Depends what interest rate you are paying I guess.

kp

HEY !!
Thats my property…
So I can post the figures right??
Using typical lvr of 80% would allow loan of $340k
Interest at 7% would be $23.8k
Rent at 600pw would be $31.2k
Rates, taxes, management, insurance should be approx $5k
So there will be a surplus (pos geared)of approx $2.4k

Depreciation may make it slightly negative on paper, hence…[Read more]

Sure Kiwi,
The simple solution is for you as the individual to guarantee the loan.
We have just completed two such applications, one for a unit trust with a corporate trustee, and another for a hybrid discretionary trust with a corporate trustee.
Both were approved but they wanted the financials of the individual director to the trustee companies,…[Read more]

Maybe if they were paying market rate for the house and market rates for the finance ????

If you purchased the property for under market then you can quite successfully offer it under a wrap at the market price.

And it is not inconceivable to offer below market finance rates ( honeymoon rate period) and still have a successful ( profitable)…[Read more]

Try this….

http://www.prosolution.com.au/articles/partner.pdf

Not necessarily Terry,
StuartW wrote an interesting article ( it was posted on the other forum) that was published in API which detailed how a number of investors can joint venture via a unit trust where each investor is only liable for their percentage of the borrowings.
It was acceptable to the lender as they still had first mortgage security…[Read more]

Oh dear,
The amount of misinformation masquerading as fact being spread around here is staggering!!

Antonio is correct in that if you defer the sale of a property till after June 30 you will effectively end up paying less tax ( assumeing that you have sold for a profit and are liable for CGT)

Misty is also on the right track in that if you sell…[Read more]

Good stuff Rob.
Lots of useful links on the one site.

Hey Pelican!
I thought you were on your way home this year.
What are you still doing up there?

Hold back their payments. Money talks all languages.

Self defeating…
Gives them another excuse to take longer…and your holding costs are still accumulating.
Keep hassling them with phone calls, emails, etc.
Give them the opportunity to do the right thing before issueing the ultimatum that if they dont perform, the “advise you have been given…[Read more]

Good one lifeX……lol

And then waving to them with a big cheesy grin when they pass you and give you the inevitable ‘finger’.
As in ‘have a nice day’

I always do that when someone does the “road rage” thing to me…
Wave back in a friendly way ( albeit with a pronounced and prolonged wave)….seems to make them even madder…..all that wasted…[Read more]

Originally posted by Mad-Cat:
if i had a block that was two small to sub devide could i build two houses on it to rent out if i kept everything in my name?

No Probs JHopper!!
At least you tried…[biggrin]

But MC specifically said the block was too small to sub divide…hence it has to be No.

The only way around this, or to confirm this, is to…[Read more]

The short and definitive answer is ‘NO’ !!

You can’t add another home or house…without approval or a building licence…and council would simply reject such an application.
Its based on the zoning of the land / block…and if it not zoned for subdivision ( either strata or green title) then you cannot add another dwelling.

The only way around…[Read more]

Nice one Ozi….
Very helpful too…………

You can do a search of the title through the Department of Natural Resources and Mines, where title details are recorded in Queensland.

You will have to pay for it.
It would be best to query this direct with them.

Alternatively, if you have a friendly RE agent in your team, or a conveyancing agent,…[Read more]

WOW!!
Thats a good point Julia…

What happens if you demolish….and say, build two residences.
Then…sell one,,and claim it as your PPOR,,,how would you go with CGT in this instance ?

This is on the basis that the original residence that you demolished was your PPOR previously…

KP

Yesssss Shaun,

That says it all……………