Forum Replies Created
Hi okkamooie,
Thanks for the reply. Guess you're right there. Sometimes I like a little confirmation on my opinions. I am busting to get into something, but my figure just don't add up!! Hopefully, I will find something soon.
Cheers,
TinaIt really doesnt matter where you get the money from, the lender is taking all the risk. They are happy for you to use the money for this purpose on the promise that you will pay them back, because they know if you don't they can sell your property. I would recommend that you take the Letter of Offer to your solicitor and pay them to go over it with a fine tooth comb and advise you of any concerns they may have, before you sign. If they are happy, go for it.
I think most lenders have opened up their policies for this area. The main thing you will have to watch is the size of the apartment. May have some troubles under 40sqm.
PCFs – positive cash flow investment properties.
PPOR – principle place of residence
IMHO – I have no idea and I too would love to be enlightened.Thanks for your feedback everyone! It seems I need to talk to an accountant to crunch the numbers. My own accoutant is great for general tax/business stuff but I don't think property would be his forte!
Can anyone recommend a reasonably priced Sydney accountant /property specialist in this field? Thanks again.
Thank you so much for all your replies! I will have a look at the places you have recommended.
I am studying renovations and how it works. Never done it before so not confident with it.
I found this website: http://www.cashflowcapital.com.au/. Has anyone ever bought properties from here? Once in a while a property does meet the 11 second rule but I am not sure if they are good.
Thanks for all of your suggestions guys. Richard; I went to Steve with your referal and he was happy to see me in a few days, sounds pretty switched on (and on top of that a nice guy). Failing that, I will check out the other suggestions.
Really appreciate the contacts, would not have known where to start. [biggrin]
Good point, this is one of the concerns I have. Would like to try and avoid any bias if possible. I own one IP with over 100k equity and would like to sought out structures before going any further as I believe it can be costly if left to a later stage. Thanks for comment..
Thank you to all who answered my subdivision problem.
I sympathise with Leisa about her predicament near the water – ouch!![ohno2]
I will continue looking at the council website for documentation but I do believe that battleaxe applications are denied ( as told to me by the staff at the council). I appreciate the help guys,
Talk to you later [tongue]Hey Richard,
Good to know you have done a 10m frontage. I am a newbie at investing so how do I go about getting a town planner? Cheers, Tina
Thanks for replying AmandBS, Terryw and JFisher. I didn’t even think about going onto the Council website for explanation. You can tell a newbie PI can’t you [blush2]
Tina
Dmalicious posts not allowed. Further posts of this nature will result in banning.
S
Abuse of other members is not tolerated.
S
Whats the matter Scoott. Are you against freedom of speech? Are you afraid of the truth? Can’t you handle the competition?
You claim to be a quantity surveyor. Could you please tell the forum what or any qualifications in quantity surveying you or any member of your organisation has; and which university the qualification is from. I would suggest none. A business registered with AIQS does not make you a quantity surveyor and a business displaying the AIQS logo (unless associate member) breaches the by laws of the AIQS.I would suggest that the majority of your postings are nothing more than touting for business and improving your google rank.
I would suggest that if this posting is removed and you do not respond to the question that you are not prepared to admit your limitations. Besides is business so slow that you have time to waste on these types of forums. Be careful, you could be spammed from the AIQS. There are many real quantity surveyors who like to see this happen
Hi
In the sates they dont tell the bank they are doing it either.
It’s regarded by many in the us as a better way of doing a LO.
cheers eddie
Looks like a golfers’ paradise. Maybe even retirement living.
http://www.lookgoodforlife.com?2115
http://www.myspace.com/herbalifeoz‘Stay Happy and you’ll be Perfectly Fine’ – Jack
Hi Terry;
Could you please elaborate on “legally smart wrappees who may take you for a ride”. This sounds ominous. How would this happen. – thanks eddie
1. You kids create a trust (read up on these)
2. You kids as JOINT trustees. might be best if parents were trustees ( I Dont know but U find out)
3. Either or both parents as Settlor (both if desired and or possible or may you couldl be best, do research on this.- definatley not solicitor accoutant etc. (The settlor can fire the trustee)
4. Look into gifting rules for advantages
5. Trust or trustee company enters into an agreement with either one or both parents to buy their share of the house.
6. Purchase contract condition is to buy them out in small chunks at a time (re of centerlink, affordability etc) with option clauses to secure and buy the other chunks.
7. Trust to have rules about accessibility to purchased chunks by siblings to prevent it being ravaged by sibilings.
8. Trust to have rules about legitimate access by sibilings at some stage
– Dont ask legal people if it can be done., ask them HOW TO DO IT. Shop until you drop if needed to find the right legal advisor.- first conultations are usually free, use email etc.
– write out what has to be agreed on/rules in bullet points in an excerise book. Go over and over it to identify and write in every important point that is to go in the final document. When everyone happy with it take it to the legal people to write up.
Hope I’ve helped – eddie
Thanks for that people. I was just womdering wot the story was in terms of how the banking industry operates when it comes to pre-payment penalties.
The must be a lot of people who get a bit of windfall an want to pay their house and particualrly after they had to refiance earlier to pay school fees and so 4th.
Isnt it half naked greed on the part of the banks the way they go about giving you credit but give you a strong disincentive to pay it back in large amounts. Really starting to look like riff off merchansts these days. only one up from loan sharks.
eddie
Thanks to all of you knowledgeable people who replied to my posting about painting the laminate cupboards and benchtops. Your advice has been fantastic and gives me the confidence to know what can be done.
Cheers,
Tina[thumbsupanim]
