No rates and no water. The only fee is a small GST management fee. But just FYI I have managed to contact Steve and he has mentioned that there are some alarm bells over here. If you are thinking of it, pls tread carefully.

Best regards,
PatLow

PS sorry for the late reply but was out of town and thank you Steve for your insight and time. I do…[Read more]

TQ for the ctc for Heritage BS. Will try them however yours was not a service apt while mine is so….

Best regards,
PatLow

quote:
Hi Pat,

I’ve bought an Apartment similar like the one you mentioned (mine is a 2BRM of the plan). Settlement day will be in January 2004.

The developer is going to place the Caretaker of the building in the A…

[Read more]

Dear Tim,

Thks for all the input. It was great and answered some questions I had too.

Best regards,
PatLow

quote:
Hi PatLow,

You may find that the room must be refit with new carpet, paint, etc every five or so years. The management gets the work done and the bill often goes to the investors. This should be in the contract.

I looked at a…

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TQ guys for the input.
David: there’s nothing in the contract to say the rental has to be in place if sold.
They do arrange finance but give only 70%. I had hope for higher to spread my equity, know what I mean.
Nic: vendor’s – Austpac PRD. I had a bank rep give me a conditional approval for 90% after going through my docs but not for service…[Read more]

Hi Chris,

IS there a quick formula to calculate the LVR??

quote:
Blowie, you might also struggle with a loan dependant on the m2 of the unit.
Several banks would require a higher LVR if the unit is below 50m2 thus increasing your deposit to purchase.

Chris

Hi Steve,

Just got online with you after reading your book which I bought a while ago but could not get to until now. Thks a million. It was an eye opener. I just need a little advice for the moment.

To make it short, I put a down on a high end property in Sydney b’cos they offered me a 10yr guaranteed rental which made money in the first month…[Read more]