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Thanks DT, good to hear that.
thanks Adrian. Will call u to find out more.
Hi all, I am facing similar situation in northern Brisbane where tenants were served eviction notice by COurt to vacate by today but my neighbours was telling me they are still there. The tenants were family of four, including a four and five year old. I have been advised by my property manager I would need to call police to evict them which could take another 2 weeks for the police to take action. So, do I have to opt for warrant for protection through court at the same time right now or…??? How long does the process that? At the same time, the tenants were owed $2000 plus rent which my property manager would go through another court procedures to claim that back. Any way to speed up the whole process to these tenants move out quicker and recoup my rent back? My pregnant wife is soon out of work for maternity leave and I am searching for job, certainly add some pressure on our financial situation. If any could advise us, that would be great help. THanks.
Thanks for clarifying the GST part, Richard.
Hi all,
Sorry if I ask a question on slightly different topic on block of units, just wondering why some of the sales requires buyers to pay GST? I happen to see an ad for 1 block of 4 units for sale here in Brisbane with tenants already in it. Had done some checks that the block was built in 1992. Could it be the current owner strata titled them and onselling them??
Thanks in advance for the answers.
Not sure if we are talking the same Logan city council. If so, the rates do include fixed water charges to the council rates.
thanks.
ok. Thanks, Terry.
I have a question quite similar to this situation: I would like to purchase a property in a traditional with an intention to onsell on vendor finance terms (hopefully) both happening by settlement date. Would the contracts in the traditional title transfer require just a clause which allow me to do so or do I need more complex paperworks to allow myself in doing so?
Thanks for the advice.
Hi all,
Thanks for all the answers. Have been trying to sort things out with the agent. Not to perfection, but this rental manager has been really understanding and systematic. Hope she would be there long to inculcate her system of management into the agency.
Have asked other agents from Miles. They are not interested in taking the management due to the distance. I shall leave with the present agency with the management.
Cheers.
It is somwhere in / around Miles area 30mins north… fairly close to Taroom, past Dalby area.
Yup. Note taken. Thanks, Terry.
Thanks Terry.
I will certainly discuss in more details with a few accountants how to rectify this situation, especially trustees issue.
About the same situation, I have purchased 2 properties under both me and my partners' names as the trustees to the trust. However, after the purchase, my accountant was telling us that if we were to be involved in legal cases under our own names, it would also involve these 2 properties under this trust. Our intention was to have asset protection with the use of trust, but it seems that we are using the wrong structure? If anyone could advise.
Thanks.
Terryw wrote:Have you cross collateralised the loans?Best way would be to set up a new loan on each property and use that as deposit. What LVR are they at atm?
I am not sure if cross-collateralisation occured. Seems like the chance is there since I made a mistake of going to the same bank to get equity off the IP A. But at the same time, I have a home loan account for IP A and a separate account for IP B. Would that still considered a cross-collateralisation? How do i find out? From recent loan document for IP B or…?
LVR- it is $596k/$685k, about 87% LVR.
