1. Steve’s filter for determining if a property is likely to be cashflow positive. Halve rent, add three zeros – should be your buy price. Take three zeros off purchase price, double – should be the rental achieved. Then do further due diligence on other expenses etc.

2. Principal Place of Residence – your home that you own (with or without the…[Read more]

Celivia, I should do that. I’ve got lots and lots of teddy bears, so one more wouldn’t go astray! []

Cheers
Mel

I thought it was horrid until I spoke to a friend in Wodonga – it’s 47 degrees there today.

For the first time ever (30 odd years) my parents are seriously considering installing evap cooling or air con at home. We’ve never had the need before, summer used to only last about a week!!

Cheers
Mel

1. Steve’s filter for determining if a property is likely to be cashflow positive. Halve rent, add three zeros – should be your buy price. Take three zeros off purchase price, double – should be the rental achieved. Then do further due diligence on other expenses etc.

2. Principal Place of Residence – your home that you own (with or without…[Read more]

As crashy once pointed out to me, there is a way of buying ‘insurance’ for your shares. However, you are limited to the bigger stocks, and it could cost quite a lot.

If it sounded like I was suggesting you could protect yourself from every event that wasn’t my intention. As for the data that goes into the programs – that’s ASX data – and I…[Read more]

Pisces, Mini lives in Sydney!! In Paddington actually.

Julie, I’m intending to finance ‘my’ entire purch price of $600K. I’m expecting the repayments to be anywhere from $42-48K (ouch! [:9])depending on how I get the finance! I can easily cover the extra $20K I will need to fund though, so that ‘shouldn’t’ be a huge problem.

I love what you…[Read more]

Originally posted by Pisces:
>>tall, dark, handsome, in possession of a job and money in the bank.<<

Any age group ?

So how much would an introduction to someone like that be worth to you Mel ? []

Pisces

I forgot to mention fit also. If fit, then preferably under 45! Older than 20 though – very broad range!!![]

Have you got a candidate?…[Read more]

Hi venusgirl, welcome to the forum.

Am I right in thinking that you have purchased in this way? Basically, the ‘deposit’ be it cash, dep bond or bank guarantee doesn’t affect the onsale at all.

The contract is slightly different though. In the special conditions your solicitor basically spells out that you have bought off the plan, and that…[Read more]

Wow Muppet, you guys sure have weird and wonderful place names! There’s no way I would know how to pronounce 25% of that list. Esp with your funny Wh ones.

Cheers
Mel

I’m going to defend Bill on this one, as I believe this has gone a bit far.

Firstly, I too have seen this email that has been mentioned several times.

The forumite was told not to deal with somebody they had met over the internet. Bill specifically states that there are many issues to discuss, and this MUST be face to face.

He also said that…[Read more]

Oops, I think I meant to say ‘professional’ well versed in Hybrid Trusts.[:o)]

Cheers
Mel

Originally posted by Michael R:
But there is a “red flag” – the delay in completing the Clayton development. If the apartment was purchased OTP in January 2002 then this project is likely to have commenced Q2 2001.

Michael, why do you say this? I have purchased 15 OTP apartments in the last few years, and not one of them had been started before…[Read more]

CarLover

I think you’ll find that the catch with this unit is that it’s a serviced apartment. Historically there hasn’t been too much growth with them, the banks don’t like them – I saw a presentation from a NAB banker who said that 70% LVR is the highest they will go, and I think resales aren’t exactly easy because of the above…[Read more]

It’s

The Love of money is the root of all sorts of evil.

That distinction is fairly big I think. I don’t know of too many people who will ‘stop at nothing’ to get their hands on money, but there are a lot of people that will do the wrong thing in one way or another.

I believe there is a line of thought that says that most criminals have their…[Read more]

I would be wary of paying for their gas etc. especially as they can be constantly changing amounts.

Austar is possible as it is a fixed charge per month.

Surely the utilities companies could provide a direct debit facility to your tenant whereby they pay $x per week towards their bill, and are either in credit, or owe some more at each billing…[Read more]

[]Muppet.

I thought that it was sheep though[:X]

Cheers
Mel

Markpatric, did you ever attend a Henry seminar? Is that why you are so bitter?

I have attended several, as I have said several times before. I learnt a heck of a lot from him – both on existing property purchases, OTP, renos, commercial and businesses – and the one that ultimately got ASIC involved – mezzanine finance.

I have implemented a…[Read more]

Westan, I think you’ll find that Kerry Packer thought James was a mug in regards to One Tel. He quickly came back and took control back from him after that little debacle. James did not do his own ‘due diligence’ into the company – he merely believed what Jodi Rich and that other guy told him. I read somewhere that they all went to the same…[Read more]

The best bet for maximising tax benefits for a rental is to sell your current PPOR, buy new PPOR, and then buy new IP. However, selling and buying costs will definitely negate that.

If you still have a loan on your current PPOR, I would see if you can change it to Interest Only – or refinance it. Then pay the interest on that, and put all other…[Read more]

When I last claimed my weekly refund (it was still the 221D form then) I kept it in a separate account, and used that account to pay all property expenses. it worked out well then (I only had two properties).

I think I should submit it again, as it’s February now, and I still haven’t done last years tax return! I’m expecting a refund of $11K,…[Read more]