Debra

I saw that son in law (well close) had an IP, but that would not necessarily stop him having another one would it?

Another option that could work short term is that they move in, and pay the mortgage (Interest only until the Personal Loan is paid off) and all other expenses. This way you break even, and they can still have a ‘home’. You could then continue with this until your daughter has a full time permanent income, and look at her buying it off you then.

The boyfriend sounds like he has some equity in his property (80% of 210K is 168K less loan of 130K = 38K) Could even refinance (separate loan to keep accounting simple, unless personal loan was to purchase house) personal loan, although 5.97% is an awesome rate for a personal loan. Any extra the he could pull out could be set aside to help mortgage payments if necessary.

Cheers
Mel

[][] ACTAndy.

Funny how that still seems to fit in with what Shaun is saying regarding criteria and his time in the Navy[]

Hey, look at me – 500 posts and a (few) gold star![][8D][][][]

Cheers
Mel

I think you can get title deeds from the council? For a fee of course – althoug some might be free. I have not done this, so I am going on vague recollection of what others have posted regarding this topic.

If you do a quick search you might be able to find the posts.

As for the negotiations, I think initially a letter, but face to face would have to be the best bet – as long as you know what you are offering, and have a good presentation/manner.

Cheers
Mel

Sorry, that should probably read ‘name on title’ rather than ‘title deeds’

Property may be poisoned []. Oh no, a doctor, quick, my house is dying[]

I’m guessing that this term refers to the not being able to buy real estate from superfund members? Why would a family trust be any different, surely that would still be seen not to be at arms length?

Anyone [?]

Cheers
Mel

sorry to break it to you Shaun, Phil was the only one looking for you, the rest of us are just nosey, and it sort of took off from there.[]

Cheers
Mel

Hi Simon

The 11 sec rule that Steve outlines in his book is used as a filter to determine the likelihood of a property being cashflow positive. It is not, and wasn’t meant to be, all things to all people.

Basically it will tell you if a property you are looking at returns a rental of 10.4%. With rising rates, this may not be enough of a rental when you factor in Body Corp, rates etc.

If you are prepared to run all the numbers more accurately, you might find that in some properties, a more or less rental will provide positive cashflow – it all depends on the expenses.

It also depends if you want them to stand on their own, or you have some tax that you’d like to offset by claiming some depreciation etc.

Also there are some people (some on this forum even) who think that that return is too low, and need a higher rental for them to be interested. It all comes down to your individual strategy and needs.

Cheers
Mel

Thanks Simon and Bill

Cheers
Mel

Wow Terry, that is a massive difference.

When I was young and naive (still am though[]) I refinanced a citibank loan, and paid about $3k. I thought I had to do it really quickly, so pushed it through. Then when they finally sent me their brochure on how to calculate it, I realised i would have been better if I had NOT been in such a hurry![|)]

Cheers
Mel

Sue [}][] and Westan []

Cheers
Mel

Richard, I don’t want you to give away trade secrets or anything, but could you tell me what LMR and RB3/4 are please?

Cheers
Mel