Forum Replies Created
>> so, um… Pisces, why don’t you have an avatar yet? <<
Good question. I’ll have to think of a good reason. (Don’t want you all to know that I don’t know how to go about getting one.)
Pisces
>>Do you like my new little cartoon dude?<<
Nah, looks too immature.
Better try again.Wouldn’t it be nicer if one could attach one’s actual photo instead ?
Pisces
At the risk of being seen as an ignoramus would someone please enlighten me what a mullet is (other than a fish) ?
Thanks,
Piaces
Gataga, you can still help your brother and obtain a share in the bouse but is it really necessary to commit your cash to the deal ?
Pisces
If you go for interest only then you can stil turn it into a P&I loan by making payments as if it was a P&I loan.
The advantage is that if at anyone time one runs into some financial trouble one will be able to redraw thw excess payments which have been made.
Sometimes a bit of breathing space can save the day.Another advantage is that one could utilise the
extra money, kept in one’s pockets because of the lower monthly payment of an Interest Only loan, to pay off other debt (like a credit card) which is at a higher rate than the home or investment debt.And of course in the case of an investment loan the interest on the loan is tax deductable whilst interest on one’s private credit card balance isn’t so it is to one’s advantage to reduce ‘bad’ kind of debts.
The disadvantage is the possibility that the extra payments one could have made one may fritter away on frivolous things
There is also always the possibility that the lender may possibly change the rules and the redraw facility may be withdrawn.
Or that the lender may ask for either a fresh valuation (which could spell trouble in a falling market) or an updated income statement (which may cause problems for people who may have lost their job).
Pisces
a Broker with solutions
[email protected]Originally posted by geo:just a quick note – I work at the university of RMIT and there currently, cleaning out all the asbestos. A student was found inside the lab during the cleaning and they immediately sent him to the hospital for a $2000 check-up. The head of security explained to me this morning that if someone breaths it in, they can die within 10 years so RMIT didn’t want to get sued and I don’t think you would want to get sued aswell.
Kind Regards,
George.Hi Geo
Scary stuff. I assume you’re saying that if the asbestos is DISTURBED whilst your employer is REMOVING it, and it is proven that RMIT did not take adequate precautions (ie., letting the student into the laboratory), they can be sued.
I think this is fair enough.
But Geo, do you have any info re what happens if I don’t disturb the asbestos, maybe just paint it while the tenant’s inside?
Or should I pay for the tenants to spend a week in a motel at my expense whilst the painting is happening?
And keep all the receipts as proof of the precautions I took?
Cheers
Greg
One obstacle is that (likely) part of the purchase price represents equipment.
If things don’t quite work out and it were to come to the point that the lender walks in and takes over the equipment will finish up being sold at firesale prices well below its bookvalue.
So it isn’t therefore so unreasonable that lenders look for something a bit more solid (like briks and mortar ?).
However, having said that, if the equipment isn’t all that old then you may possibly be able to
obtain some leasing finance.Alternatively, is it possible for any present lease arrangements to be taken over by you ?
Have you tried to see whether the vendor is interested in leaving some money in (to be repaid over a period ?).
If you care to provide some more details to me via a PM or an email I would be happy to see what exactly are the possibilities as far as bank finance is concerned.
However, as Terry already has pointed out most such finance is secured by supplying some property security.
Pisces
I don’t know how other people see the following :
If your owner occupied home becomes an investment property it may be a good idea to spend a couple of hundred dollars to establish, via a valuation, the value of the property at the time you switch its purpose from owner occupied to investment property.Anyone have any idea about this ?
Waste of money ?Pisces
Hey Kay, I found those ladies on that site
(www.feeder.co.uk) rather gross (no pun intended).However everyone to their own. As long as they aren’t forced into such behaviour by some male
manipulating chauvinistic pig ( is that what you would call them?) good luck to them if that is their way to happiness.However, I ran into a site this morning and would like to ask your opinion as to what you think about the way the following ladies look like.
Their names are Nancy Lewis, Fannie Barrios and
Beth Roberts.Go to http://www.australianmuscle.com.au/muscle_news/v7_i9_sept2002.htm which is an Australian site, scroll down to nearly the bottom and you will find them.
Pisces
Yes, Something like that Celivia.
I’ll ask my (French speaking) hairdresser today. I will be seeing him as I am writing a loan for him.
Pisces
Originally posted by Lucifer_au:Heres how the situation works, if your tennant contracts emphizema they make a claim aginst the manufacturers. There are special funds set up to pay this liability (one particular fund has recently been in the news for not havingenough asses to cover long term liabilities (10-15 yrs out). They do not claim aginst you unless you have ripped up and told them it is safe (and don’t worry about the dust!). From memory there are paints which have a stong bonding agent, I would suggest acouple of coats of those (I don’t actually own any asbestos houses, but it’s what I would do. I also would do what your son suggests.
In the end it comes down to a duty of care – did you take all resonable steps to ensure that the asbestos fibers become lose. All that means is just have to have a good think about it and take any steps to minimise damage.
Rgds. jackw_au (aka Lucifer_au)Hi Lucifer
And thank you SO MUCH. Clarity at last! [biggrin]
I figured it had to do with duty of care. Two thoughts:
1. To demonstrate my duty of care, when I get the the Building Inspection report (because I have been forewarned that asbestos exists), I will put in writing that I expect the Building Inspector to make specific written recommendations about the condition of the asbestos sheeting, and what specific steps I need to make, plus the timeframe it can safely be left in its present condition. (I will, of course, keep my letter plus the report, plus the actions I took on the report, plus all receipts, on file just in case)2. Is there a professional body that Building Inspectors have to belong to? If someone has a name etc, I’ll ring them and post their comments on the forum.
3. Has anyone got suggested wording of the specific clauses I would put in my leases? Again, there must be real estate agents out there who’ve dealt with this before.
Cheers
Greg F
One funny story about having a degree.
A friend of mine is an accountant.
I know pretty well what he is like so to send him up I asked him once how much is 7 X 8.He had some problems with that so he turned to his wife and said “Mary, quick, how much is 7 X 8.
Mary (not her real name), who has a PHD in mathematics, came up with the answer ’49’.
I have since been told that in ‘higher mathemathics’ one doesn’t necessarily work with
such calculations. [blink]So having an academic background is not a guarantee that one can do simple calculations.
Personally I wouldn’t employ someone just because they happen to have a degree. However, in the world out there that’s the starting point so (generally speaking) anyone who gets the opportunity to study would have to be pretty foolish to reject it.
Pisces
Celivia there is a saying in french (I don’t know how it goes exactly) that says that one person’s fish is someone else’s poision.
I think the words in french are very similar)
The point (I am trying to) make is that what looks nice, cuddly, and attractive to you (or, as in Marc’s case, wise and mysterious) may well give someone else the horrors. [exhappy]
Pisces
Well Kay, the fundamentals tell me that the trend is down.
As there is no way of telling when the bottom is reached until some time after the event.
Even then it may be just a flash in the pan and the trend may well re-assert itself after one has bought.
Nevertheless I’ll use my gutfeeling (how illogical isn’t it after what I said in my first post) and buy when ‘it feels good’.
I owuld like to think that I have processed
the fundamentals on a subconscious level.My one advantage is that I will be buying wholesale so even a further fall would hopefully still produce a profit.
Pisces
Derek, why do you suggest not to sell them all in the same financial year ?
As the Capital Gains Rule is used to calculate the tax the rate of tax will be identical so there doesn’t appear to be an advantage to sell in different years.
Dom, your question might produce a better result if you ask for the name of a good accountant in Queensland.
Pisces
A more important question, Liz, is whether one’s Avatar is chosen on an subconscious level rather than one just being picked in a nonchalant manner with no hidden meanings attached.
Pisces
>>How could anyone see opportunities with such a load of bias and aggression? People like that go to a seminar expecting the presenter to reinforce their own preconceived ideas and rather than being teachable dismisses the guru as a fraud if it does not fit into their rigid mould.<<
Marc’s remark, shown above, is confirmed by the following statement (which I believe to be spot on) :
So often when someone asks someone else for advice the advice is welcomed and embraced provided it conforms what we were thinking in the first place.
If it conflicts with what we were thinking it almost certainly will be rejected.
Another amazing phenomenon is that after someone has committed to a seminar and even though they, some time later, are well aware that ‘it’ didn’t change anything in their life, that very person will defend the guru to his last breath never mind what evidecne someone else brings forward.
Gee, people aren’t only complicated creatures but also rather illogical.
Pisces
Still nothing specific re asbestos legislation /case law etc specific to Oz/NZ
Have we got any lawyers on this forum who can help out?
[/quote]C’mon guys, are all the lawyers on holidays or something? Anyone would think it was the weekend![biggrin]
Seriously though, my son’s given me what I think is the best advice so far, but we need professional help to see whether his strategy stacks up. He suggests I could mention the asbestos in all my lease documents from the time I take over as the new owner, so the tenants could never say they were unaware. If I was to get a carefully worded paragraph/condition in the lease which forebad the tenant from doing any maintenance, painting, etc on the fibro roof, walls, ceilings, would that make my position watertight, or at least stronger? If so, has anyone got some suggested wording?
Apparently, asbestosis can only be caught from airborne particles, and if the tenants don’t go putting holes in the walls, or tearing walls down, or scraping off paint/sanding back paint WITHOUT MY EXPRESS, WRITTEN PERMISSION, then they are in breach of their lease. My son THINKS (and this is the operative word) that a carefully worded paragraph in the lease documents might be enough to cover my backside as a paranoid landlord.[fear]
Again, we’re hanging out for someone with legal knowledge specific to Oz/NZ to steer us in the right direction, or perhaps a RE agent or property manager who has had some experience of this problem. Can anyone help us out?
Cheers
GregWez, No offense but I would say that anyone who did that would be very foolish.
Pisces
I doubt the techniques will help you Kay as the aim is to buy the property as cheaply as possible.
However an email is coming your way.
Pisces
