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melbear
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@melbear
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June 20, 2004 - 11:21 am
ozstar, you could always offer the ‘developer’ the chance to buy your block!!
You never know, they may jump at the chance to be able to build another 8 townhouses on your block as well…….
Cheers
Mel
melbear
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@melbear
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June 20, 2004 - 11:14 am
Jaffa
How about:
Redwing’s 101 Ways topic
https://www.propertyinvesting.com/forum/topic/7089.html
Scott’s Inspection Tips for New houses
https://www.propertyinvesting.com/forum/topic/10956.html
An Acronym list
http://www.???
and a partridge in a pear tree!
Cheers
Mel
melbear
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@melbear
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June 20, 2004 - 11:05 am
Age
I don’t think any of us can tell you if you’re being too careful or not – that’s really a personal decision!!
If you are borrowing to build your new PPOR, I personally would wait til I have sold the old PPOR and paid off some debt before reborrowing – to me it just seems that it would make it a little tidier. Of course, you could sell your current PPOR now, and rent back for x months until your new one is ready, so you won’t be delayed whilst building.
Good luck with what you decide
Cheers
Mel
melbear
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@melbear
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June 18, 2004 - 12:18 pm
Come on guys – you gotta realise that was said tongue in cheek. However
This is the first time you or your spouse/ de facto will receive a grant under the First Home Owner Grant Act 2000 in any State or Territory of Australia.
You and your spouse/de facto have not owned before 1 July 2000 a residential property, jointly, separately or with some other person, in any State or Territory of Australia.
This to me suggests they are only asking about current spouse/de facto’s. Does not say anything about ‘ex’.
Rob, I lived with a guy for 4 years (or was it 6 – don’t know but it wasn’t much fun for most of it?). He owned his own house. We even moved house, and sold up and bought in the time I was with him, but title remained in his name. I still do not consider myself to have ever owned a PPOR!!
Not that I’m eligible for the FHOG anyway as I owned property in 93, but that’s not what my point is!!
Cheers
Mel
melbear
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@melbear
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June 17, 2004 - 1:06 am
Hey Simon, there would be a way to have two cracks….
If they got divorced, and were therefore no longer spouses!! However, it’s not really something I would recommend, unless you now dislike each other….
Cheers
Mel
melbear
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@melbear
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June 16, 2004 - 8:11 am
Hey Jo
Nope, am serious about the Tap Doctor. They claim to do it, and they DO.
We rang a local carpenter who was meant to go to my brothers place on Saturday at 9.30. My brother was home. The guy turned up, knocked softly, then left his card. Didn’t return my brothers call when he found the card a little later..
then was supposed to turn up at 4.30 today, but didn’t! What do you do? The majority are all the same…
Cheers
Mel
melbear
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June 16, 2004 - 7:57 am
Welcome back AD, hope to see you around the place more often – you have heaps to add for a lot of the newer people on here…[biggrin]
Cheers
Mel
melbear
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June 16, 2004 - 7:53 am
Marc, your point is noted, but I think you’ve missed mine.
Steph started this thread, briefly mentioning something that caused her to start thinking about other things. Instead of reading her post, you’ve jumped in on what you assumed the discussion was about. Perhaps Steph too, did not finish reading your post as she was no doubt riled up by your initial words?
Cheers
Mel
melbear
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@melbear
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June 16, 2004 - 7:44 am
Investment Books…
Repairs for some IPs..
I think to prepay interest on loans that are not fixed, you have to fix them for the year anyway. We’ve just asked the bank manager about the ones we want to do – but generally have to start in April to make sure they don’t stuff it up on us as they have before[baaa]
Cheers
Mel
melbear
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June 16, 2004 - 6:12 am
I got 5000 the first time I did it many years ago…[blush2]
Cheers
Mel
melbear
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@melbear
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June 16, 2004 - 6:10 am
agordon, suggest you contact an accountant, or the ATO, or do a search of these forums.
I’m sure that I saw somewhere that if you built within a certain period of time (ie 1-2 years) that you could claim the interest as a tax deduction if it was for investment….
Cheers
Mel
melbear
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June 16, 2004 - 5:59 am
fj, I have done the same as you are suggesting when having to get a ‘top up’ loan to fund some purchases last year.
As long as it’s IO, and all for investment, it works out well – plus it saves on having 7 lots of statements to file (I hate filing[baaa])
Cheers
Mel
melbear
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@melbear
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June 16, 2004 - 5:56 am
Hey PG, when you coming back?
We miss you[glum]
Cheers
Mel
melbear
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@melbear
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June 14, 2004 - 1:09 pm
Originally posted by g7:
Thanks guys, I’ve found this a very interesting topic. But what about first timers, do you think it’s better to rent and gather IP’s, or buy your first home (PPOR) and then gather IP’s?
I suppose Im not quite a ‘first timer’ as I lived at home (much cheaper) and bought IPs. I think if I were to move anywhere, I would get one of my rellies (or my family trust probably) to buy a house that I could rent from them. That way I can still have the same benefits as a renter, plus I don’t have to worry too much about getting permission to do anything….
Cheers
Mel
melbear
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June 14, 2004 - 12:55 pm
Big Bad Bill, if you’re back online where’s my email update!!!!????
I agree that banks can and do recall mortgages, but not ones that are not in default. They are also loathe to do it with owner occupier homes – which is obviously helped by the UCCC, but with IP loans it’s not such a drama. So for people who can continue to service their loans, a falling market shouldn’t be a problem.
First and Last post for a few weeks or so….
because I seem to get into an argument whenever I post.
That’s because you now seem to enjoy being a negative old bugger[], and coming on here to stir everyone up. Also because you have interests other than RE at the moment which are keeping you very busy (they better be!!!)
I’m inclined to agree with Rob. I can certainly remember the dark days of loan-calls from the early 1990’s.
Steve, I’m a little confused here. Remembering what loan calls? Margin loans? Property loans?
Bill, 2007 sounds great to me – I’ve got four OTP apartments that will be ready by 2008, so I’ll be in the next cycle! Cheering [specool]
Cheers
Mel
melbear
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@melbear
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June 14, 2004 - 12:39 pm
Originally posted by Brenda Irwin:
Mind you, the instructions say it is virtually impossible to go bankrupt, but I seem to be able to be able to make it a regular occurrance.[confused2]
Hey Brenda – me too[biggrin]
I usually remember to borrow however much I need to pay the bank on payday[whistle], but sometimes I forget and just hit Enter, not realising that I’m probably going to pass payday. Then they hit me with it, and I’m in trouble…[biggrin] Then if you do get out of it, they make you sit out three turns anyway[thumbsdownanim
Cheers
Mel
melbear
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June 14, 2004 - 12:33 pm
Devil, if the guy is on a lease, you can’t kick him out til the end of it.
Maybe have a chat to him and see what his plans are, he might be happy to stay on and pay a bit more for a renovated unit…
Cheers
Mel
melbear
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@melbear
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June 14, 2004 - 12:12 pm
Rusty, in answer to your original question, I don’t think there’s a limit to what you can have in your offset – it’s a transaction account. My parents currently have about $60K over the loan amount in theirs, so there’s no interest that will be charged (but none earned on the extra either)
Cheers
Mel
melbear
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@melbear
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June 14, 2004 - 12:08 pm
Hey Brenda, have you looked at Steve Navra’s cashbond strategy to enable more borrowings from the bank?
I read some of his stuff on the weekend, and it looked like an excellent way to raise ‘income’ such that the bank will lend on a full doc basis – LEGALLY[thumbsupanim]
Cheers
Mel
melbear
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@melbear
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June 14, 2004 - 11:50 am
I have used my Canberra solicitor for purchases in Sydney, and Coonabarabran. If necessary, they have contacts interstate that they use to do certain things that is easier for someone at hand….
Cheers
Mel