My mortgage broker said the bank was ok about the vendor financing….yee-ha!!!

He argued that it would simply increase the total income on the property and that I was still just as liable for mortgage.

It was a good win, as this property was on a joint loan with another property and cross collateralised with 2 others.

So I would recomend that…[Read more]

….

I can’t quite put my finger on it, but there seems to be a core issue to be resolved with regard to an investment path.

What if…More important than equity, more important than market or strategy or goal… and that is “how you choose your path”..

it’s almost like defining yourself…

Does anyone sort of know what i’m blabbing…[Read more]

Woops,

TPG.com.au

Check it

lifexperience

Nice thread LifeX, you always get the masses talking. sic

No probs….myself.

But I disagree, I have just read about win/win situations.

Oh.. you have a point, I guess I will be continually looking for the perfect attitude, even though perfect may mean dynamic.

[curtain]he he

lifexperience

Yeah… actually I find I get a bigger response from airports when I levitate in the air and connect to the web via ESP, humming wooooooo oooooooo woooooooooooooo ooooooooooo wooooooooooo oooooooooooo.

Hasnt Bluetooth only got a range of 15m ?

[drummer]

lifexperience

Hi jaffasoft,
I also use laptop. I can dial up from any landline, use my mobile phone via infra red (gprs costs 1c per 1kb) ok for emails and bank checks.

There is also some wireless thingy card available to magically connect from anywhere at any time (wireless). I don’t use it though.

If you are thinking about a laptop check TGP website, they…[Read more]

Millsy,
If you cant find a PM at all,Consider if you are prepared to travel up there 4 or so hours when needed.

Is there a stable long term tenant in there, or do you have to find one. Interview – One trip, hand over keys – another trip. Problem tenant that needs to be served breach of duty notice – another trip(s) (maybe or mail that takes 3…[Read more]

Hi, I am sure it is only S.A. that [cowboy2]prohibits individuals to wrap.

In Victoria, I just filled out application and mailed it. Free.

It was approved in 7 days, no probs.

Just have to follow CCC reporting requirements to stay current.

Don’t let it stop you.

lifexperience

OK..From the Real Estate Agents Act 1980. definitions Part 1. Introduction, Act no.9428/1980,
s.4.
“estate agent” or “agent” means any person (whether or not he carries on any other business) who exercises or carries on or advertises or notifies or states that he exercises or carries on or that he is willing to exercise or carry on or in any way…[Read more]

The wording “any other person” is opened up to sidestepping in the case of a company/trust/partnership you own is collecting rents for you. But a straight cut sub-let, when you do not live in the house yourself, seems to me to be in clear breach.

It comes from Real Estate Act….I will hunt up the exact clause and wording. And see if anyone can…[Read more]

Choosing between uni and a trade, it can easily be argued that the uni path is a continuation of an inefficient education path that hides from the real world.

Uni students pop out the end of their years with a hecs debt and in a lot of cases “what do i do now” problem. Employers want experience.

Tradesman pop out the end with four years…[Read more]

I had an insurance broker source CGU for me, they said they get bulk rates and charged me no commission.

They were almost half of insurance price quoted by one of the banks.[cowboy2]

lifexperience

Hi kay,
This thread discussed a lot of asbestos questions.

https://www.propertyinvesting.com/forum/topic/10887.html?SearchTerms=asbestos

Home renovators in old houses are treading on a minefield wrt asbestos.[cowboy2]

lifexperience

The Real Estate Institute of Victoria deems it is illegal to collect rent for or sublet a property without a real estate agents licence for any other person. You might want to check NSW laws.

Share housing also requires that you have to individually meter gas/electricity for each student (Good luck!) or pay the bills yourself (international…[Read more]

Acey,

Acey, why wouldn’t you ever distribute to a company? What if you had no other beneficiaries left under a 30% tax rate. ie: single high income earners. (is it because of the difficulty of getting money out of a company without being taxed?)

Do you think that the risk mitigation benefits you mention will remain long term? Are the government…[Read more]

LCP, cool.

I mailed my credit provider application yesterday in companies name.Did you have any trouble being approved?

Separate companies: one purely as trustee of trust with property (not created yet). and one company handles all the daily going onerings of running IPs. I have some co-housing set ups, and i have already had one tenant threaten…[Read more]

What is a relocation company? What were the names of the ones you contacted? Where did you find their numbers?

Sounds like ideal system to find tenants, whats the catch? Big commissions, short leases?

lifexperience

I think ATO tend to closely scrutinise rent that is below market rent in some circumstances.

Check with your accountant.

Maybe you could simply rent her one room, which would be cheaper than market rent while you do renovations.[daisy]

lifexperience

Wallflower,
I havent set trust up yet. I may have current company as trustee temporarily, BUT ideally i have been advised it is better to have a company trustee that is separate to the company that may be operating which could be sued itself. Thats another $1500 to set up of course.

LCP, whats that?

In what name is your property? A trust,…[Read more]

Elika

I will be setting up a trust for future IPs and joint ventures and here are my thoughts on trusts.

As far as I know you need to pay for :

1. Setting up a trust (accountant can charge up to $2000) or (do it yourself online for as little as $135)

2. A separate tax return each year for each trust (if accountant does it)

3. Possibly extra…[Read more]