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great advice,cheers.
hi julie,
I havent read article you speak of,& not even sure if my answer is right,but my understanding is,that even if you have never applied to have your name on a title,but your partner has,that you are no longer eligable for grant.
I would like to know myself,too.Anyone know for sure??[confused2]thanx guys.i’m off to see accnt.[biggrin]
not sure i know what u mean…sorry[withstupid]!
What are u suggesting i negotiate? For current owners to rent? Or to shorten settlement??Oh my god,gatsby! i havent laughed that bloody hard in ages![biggrin] LOVE the dog’s name!
Well,i have had some “interesting” experiences with valuers that i could share:
A)One such Melb based co. sent out a guy that was just purely RUDE,for absolutly no reason.(Maybe he just had a bad day??)But,my instincts told me i was in trouble.Yep,val came in way under.Luckily i was using a savvy broker,who disputed it.No luck,so i switched banks,then no prob’s.
B)Another incident was a valuer increasing val,on the spot,after hearing of local real estate guy’s apprasal
c)Another val coming in WAY under local agents apprasal (yes,i know bank’s val’s are always lower,but not by this much: R/E val: 390-410, bank’s: 340!)
D)Another time i was charged for a val that wasn’t even done! & the only reason i knew was b/c broker told me it came in at X,which was the same as previous val (12mnths earlier),yet still tried to charge me $135!
E)I used to have a bank manager that just happened to need to go to the loo when the val’s were on his desk….[thumbsupanim]
So,i’m just learning it’s all a big game,& if u play by certain rules,u’ll get certain results!& i’m still learning![specs] Hope this helps.thanx everyone 4 great replies.
Thnx 4 such informative answers!
Can u pls give an eg scott? As i have just started claiming depreciation,but not sure of how it will affect me if i need/want to sell.
Thanx everyone for such brilliant replies! My situation is,that i got 3 local r/e val’s, of course using the highest to give to bank valuer as a “standard” price.The r/e’s was 390-low 400’s, but the bank’s only came in at 340! I knew it would come in lower than r/e,but not by that much! I was hoping to access more of it for new i.p. [ohno2] Do u’s reckon i should try another valuer? (Although that one was used anyway,as it still gave me enough equity to get what i wanted. But more would be nice![biggrin]
wowie! thanx lucifer,what a reply! U r oviously someone in the know! I need 2 absorb & act. cheers[confused2]
Good point! That’s the sort of info i need! Someone suggested i could start a trust,or company to be paid,but i am completely ignorant (but willing to learn!) with all these tax issue thingies.I wonder if it would work out financially better to be paid now (& could prob’ly claim other costs too? Eg petrol,power,etc) as opposed to paying upon sale? I’m reflecting on a young couple i used to know that used to buy old houses,do basic reno’s & sell them.He was a “handyman”,so i guess he was paying himself to work on his own houses (as that’s all he did,no other external work).All sounds a bit shonky,but maybe they’d worked out a legal & profitable loop-hole??
I have had such a huge dif. in val’s from the local r/e’s to the bank val’s, that i feel i cant rely on either! As for pumping more cash in to lower it,no can do-none to pump in! But,am trying 2 work out how 2 access any avail. equity without getting a lower valuation! Thanx.Any one with other comments??
Gee Monopoly,i dont think it was such a silly qu. that i needed ridiculing! Thanks Kay,that was a very informative & much appreciated answer.
Wow! (lifex) Sounds great! Maybe alot more work 4 u tho? But has given me some great ideas.What about if tenants steal/break your things??
well,as a beginner,i thought it was best to put in as much as possible 1st! So,mine have always been min20% deposit.(stupid me).Is it hard to now re-finance to access that 20% avail to purchase more i.p’s???
Cant say for sure,but it obviously depends on which state,as i just purchased my 1st i.p. in NSW & was astounded at how much MORE info was given in the transaction than in Vic. (about 20 pgs more) So,best to ask your solicitor,perhaps?
sorry,i’m off looking at a possible purchase this weekend.But pls keep me posted for further catch-ups!
Thanx so much 4 the feedback.All taken on board.
I feel i’m only a baby at this investing business, but still have learnt sooooo much,& yet, still soooo much more to learn…
1) Pace y’self,depending on your expectations,& your abilities.
2)Ask sooo many questions that you drive away only those that KNOW the answers & will help b/c it’s their joy to.
3) Learn 2 bite your tongue.99% of those u meet will be negative,non-productive,etc.& theirs no point gettin’ your knickers in a knot tryn’ to convince them.Save your energy for more investing!
Also,start practising an eccentric loud laugh now, that you will inevatably be able to throw at those sceptics when your figures start to work in your favour! Also practice that speech…u know the one….where u tell your asshole boss to stick his job….because u dont need it anymore![satan]
4)Study. Become a book nerd.While others at wk are reding “Womans day/Penthouse (yeh,sure,for the investment articles,right???) you could be reading “tax laws,invest strategies,growth charts” etc. & believe me,it becomes an addiction once u start 2 realise how/where u save/earn money[satan]
5)Go with your own feelings.(but,use an “educated guess”) As what suits your situation may not suit the next. But for some strange reason,instead of embracing your dif choices,most will try & change it!
6)Take time to relax,or u will burn out.
