I’ve just negotiated a deal for my brother from a private seller.

6 month settlement, can do whatever we like to the property, and I can move in at exchange, and pay a much lower rent than the going rate. At settlement time, my older brother will probably move back into his house, kicking out my younger brother who’ll then most likely kick me out []. Hopefully by then one of my parents tenants won’t have liked their rent increase, and I can move in there – or anybody else want to offer me cheap rental (must have high fences for my puppy dogs, oh yeah, you need to allow me to have pets)[biggrin][thumbsupanim]

Cheers
Mel

Hey! I resemble that remark[biggrin]

Cheers
Mel

Hey guys

For info – Prime Property have an office located in the Waldorf hotel in the city. They advocate a LOT (perhaps only?) of serviced apartments (Quest run ones etc.), and one of the ‘recent’ developments I saw them promoting heavily was the Aurora apartments in Brisbane – some massive tower with 100’s of apartments. They used to advertise a bit, don’t know if they do now….

Cheers
Mel

I love debt! []

So much so that I’m about to take on another $840K. This will still keep my equity at about 30%, maybe drop it to 25% (I haven’t worked out the maths yet), so I’m comfortable that I have enough ‘spare’ equity if something bad were to happen.

I’m also not only relying on the rents as my cashflow to pay for the debt, so I’ve got it covered a couple of ways.

Cheers
Mel

misty/Misty1/all

misty’s story is similar to something I read in one of the Tax Guides (nope – I don’t have a life []), where if you own a holiday house, and don’t rent it out at all, you are liable for CGT, BUT, you can claim all interest expenses, rates etc. off your taxable gain! [specool]

Cheers
Mel

Hey Derek

Not only did they ‘try’ to bill us – they did. As they were doing our settlement, they just deducted their fees anyway, and gave us a ‘receipt’. When I reconciled their ‘receipt’ with our deposit receipt, and the settlement statement, I saw that they charged us an extra $100 per property (and it was 5 properties).

since then they’ve sent a further bill to my current solicitor for work they had done on another purchase that hadn’t settled at the time we sacked them (about 8 months later too!). Thus far I’ve ignored their letter. If I get another one, I think I’ll go back to them with all my facts, and see what happens!

Cheers
Mel

Hi Mathon

why don’t you contact Tasman Property, Westan, MiniMogul, wilandel etc. about them finding a property for you in NZ? They can be at the lower end of the scale, and CF+, so that will help your earnings etc………

Cheers
Mel

Yack, definitely agree with Terry re the ‘break’ costs.

We’ve just gone/going with RAMS (cos they’re about the only ones that would touch us) for a $640K loan, which my broker told me will have fees in the order of what Terry said to get out of it in the next two years!!

Cheers
Mel

What about API Mag?

I’m not sure how well it covers Tassie though – hopefully better than the once a year coverage the ACT gets!

Cheers
Mel

Hi Nic

Not sure, but you might be after bangitup.com ?

Cheers
Mel