Forum Replies Created
Hi to you all
Wilinvest – you wanted to know how I went.
Firstly the Agent didn’t turn up at the property as arranged.[
!] Rang him – agreed to met with him yesterday morning 9am. [] Extracted even more info. This deal is 3 D’s all in one. []The owner is deceased. The One of the 3 benficiaries is getting divorced and is desperate to sell. [] Plus is has already been to Auction and failed.[]Luck or Fate. Sooshie, what do you think!!!!!
Now have both feet in the door with the Agent. He won’t sell to anyone else I have 2 days to check out some important info. Have had meeting after meeting yesterday with Agent, Local Council, Architect, Bank Manager (not for finance approval – just to tell him what I am doing – will worry about this when it is time to settle) & Solicitor. Have to collect some more info from Local Council today and then met with Architect. If all is okay the offer will go in tomorrow. Agent has assured me that it is mine for the taking. [
]I’ll keep you posted.
Cheers
NessieWould love to hear your feed back Sooshie, it might be handy to know if I ever get an application from a tenant with 9 kids!!![
]Like 4walls I too am fired up.
Have rung 4 Agents and other authorities chasing information in the past 4 hours and am viewing a property after 5pm today.[
]Have followed Stuart’s tactic and it was so easy -asked lots and lots of questions and got all the info. So now I can put in a better offer than the rejected one sitting on the Agent’s table at present. Now I can’t wait for 5pm to come round.
If this comes off I stand to reap over $1m.[]
What a days wage !!! Now I have to do the unpaid stuff (housework).
If it doesn’t happen at least I have taken action today.Cheers to you all
NessieHello all,
What an awesome weekend yet again. This was my second time. A gigantic thank you to Steve, Dave and all their team for the endless hours of effort and energy that it takes to put together this fantastic event.
For those who are wondering why I went again – I was so motivated after last year I wanted to confirm the tactics I had used in the last 12 months. I went on to do some great things last year. Well I thought they were great until I heard what some of you have been doing. I am motivated to surge ahead even more from here on in.
It was fantastic to put faces to names from this forum, particularly AD and Sooshie. I feel priviledged to have had the opportunity to met so many of you.
I was so tired and felt brain dead by the end of yesterday. It was scary driving home afterwards but I made it home safely after stopping off in Edithvale (half way home) to check out the property Stuart O’N. mentioned to us all. Even too tired to turn on the computer to do this post when I got home.
Finally the weekend has highlighted to me(after meeting and chatting with Billy B.) that I must surge ahead more rapidly to achieve my ultimate goal. Like Sooshie said it is not the fear of finance, the money the numbers that hold me back. My fear is that I will have a reoccurance of illness (the Big C) that will prevent Hubby and I from completing our ultimate goal. We don’t have any trailers (kids)[
] and our ultimate aim is to help people in need. We are investing in property so we can eventually set up our own Charitable Trust and assist to improve some child or persons life – just like Billy B.It’s time for breakfast now and then I have get busy and run up a $1K phone bill [
]Cheers to all you lovely people
Nessie
Good Idea Michael
Perhaps Sooshie can set up an a dedicated Insurance Section (like the Useful Links) for everyone to post their infoI use RACV for Building Ins. get a discount because have been a member and had car ins. with them for 25+ years.
I use REI for Landlord Ins. REI reduce the premium to $250 per property from $265 once you have 2 or more properties. Had bad experience with BOM/WBC Bank. Refinanced Strata Unit and Bank insisted having Landlord Insurance cover with them. Was $40 cheaper []but when I compared the Bank’s policy with REI policy there were lots of gaps/loopholes not covered with the Bank’s policy [}] which I didn’t find out about until I finally got the policy doc. from the Bank 4 months later. [!]
Have had quotes from CGU a couple of years ago and they were always more expensive.Cheers
NessieI have received my Land Tax Notices for 2003. There is no land tax payable in Victoria if your Total unimproved value of all your properties is less than $149,999.
The Unimproved Value is arrived at by the Site Value on your Council Rate Notice X an Index Factor. The Index Factor used to be a flat figure of 1.0. However it now seems to vary from Council to Council. Ballarat is 1.13, Wangaratta is 1.04, Frankston is 1.17, Latrobe is 1.02 to name a few. I have a complete list if anyone wants to know others.
It seems that the Vic. Govt. have increased the Index Factor to catch more people for land tax. []It will make no difference whether you have a company/trust structure. The Unimproved Value is what catches you out, particularly if you have multiple properties in one name, be it your name or a company.
The Land Tax Rates are:
0 – $149,999 Nil$150K – $199,999 $150 plus 0.1 cents for every $1 that exceeds $150K
$200K – $539,999 $200 plus 0.2 cents for every $1 that exceeds $200K
$540K – $674,999 $880 plus 0.5 cents for every $1 that exceeds $540K
$675K – $809,999 $1555 plus 1 cent for every $1 that exceeds $675K
$810K – $1,079,999 $2095 plus 1.75 cents for every $1 that exceeds $810K
$1.08m – $1,619,999 $7630 plus 2.75 cents for every $1 that exceeds $1.08m
$1.62m – $2.699,999 $22480 plus 3 cents for every $1 that exceeds $1.62m
$2.7m and over $54880 plus 5 cents for every $1 that exceeds $2.7m
[
!]Cheers
Nessie
!] Rang him – agreed to met with him yesterday morning 9am. [
] Extracted even more info. This deal is 3 D’s all in one. [
]The owner is deceased. The One of the 3 benficiaries is getting divorced and is desperate to sell. [
] Plus is has already been to Auction and failed.[
]
