Forum Replies Created
If you “redrew” your equity then I’d count that as Cash you put in for the deal.
However, if you left your equity in your other property and used simply used it as security then I wouldn’t count it as it wasn’t cash you put into the deal, your loan would have been for the full amount plus fees on the new propoerty in this case.
PK
Not all Morgagee sales are auctions, check you papers regularly and you’ll see them advertised from time to time.
Good Luck.
You could consider having the seaside ones managed by a PM, they are making money so why sell. The 6K spare should cover a PM and still leave you with some left over.
Do consider trying a different plumber. We had a plumber out every second month at one of our IP’s as the toilet kept backing up. Then it happened one evening and when I couldn’t get the normal plumber I rang a different one, and guess what, we’ve never needed a plumber since (6 months later). Whether it means this one fixed the actaul problem or whether it was just a conincidence I don’t know but it’s worth trying someone different, sometimes different people have different levels of expertise or had experience in different areas.
Try doing a search in this forum. i htnk people have asked similar questions before so you might find the answer that way.
Sorry I can’t help in any other way, don’t live in Sydney,
I think at lot state if it’s vacant more than 30 days. Can you stay overnight every second weekend or something like that. Check if something like that will suffice.
PK
Have confidence in yourself.
Dani,
I’d suggest you have a meeting with your broker and find out the requirements of your bank in relation to LVR adn DSR levels. Until you know what levels they expect you won’t know if “any figures you work out” will fit their requirements.
Secondly, if you go through one bank and you want to revalue then find out which valuers your bank accepts valuations from, it’s pointless getting a high valuation from a valuer they just won’t look at. Your broker should be able to tell you who they are.
I only revalue when I think a property has increased enough ie: from watching the genenral market I think the value should be there.
Regards
PKGood news, i went and checked the lease that one of our PM’s sent and sure enough, no stamp duty stamp on it. Hadn’t even noticed until you mentioned it.
PK
I agree, I only look at the Nett income as being my passive income too as that’s all I’d have available to live off.
PK
Playing Santa [xmas]at Chrsitmas is enough for me, I have no intentions of becoming the Easter bunny as well.
They are your tenants though, so do what you like or what you feel is right.
You could try the ABS site for employement statisitcs, they will be quoted as at the last census.
Council plans may indicate what is planned for the area ie: if a major road is going to put put in alongside the property you wish to buy, you may then change your mind about buying it if you don’t like major roads.
Regards
PKGood Luck Risky, lets us all know the outcome.
PK
As far as I’m aware it is normally the solicitor/ settlement agent that does this. Well, that’s what happened in my case anyway.
PK
Thanks Milkmanjnr, at least someone else admits to not knowing this!
I’ve just gone back and read our last contract and it’s not in that unless it’s part of “The 2002 General Conditions” as the offer and acceptance states that these general conditions form part of this contract so perhaps that is the case. (This is a standard REIWA offer and acceptance form).
Anyway, main thing is that a lesson is learnt at minimal cost. In future I will get insurance as soon as offer is accepted just to be on the safe side.
Must admit though, if I was selling my home, I wouldn’t cancel insurance when an offer is accepted, I’d wait until settlement had occurred. Would play it safe both ways.
The documents are under “regional services”
If you can’t find it on-line then contact Tim Banfield, his email is [email protected]
Regards
PKMelbear,
90 days!!! Wow, I think we better all read our leases closer before signing. 30 days is too long to put up with them if they are no good, but 90! I think it’s easy for us to overlook this section of a lease as we’ve asked our questions and assume we’ve picked the best, but I’ve discovered I’m not good at picking PM’s at all.
PK.
and the great thing is that properties become like a second income, except without the overtimeLOL, I seem to be doing plenty of overtime at present, with the reading, searching, driving etc. But at least this is something I like doing and perhaps as time goes buy less research is need as you know your areas better etc.
I’m interested to know what peoples average time between obtaining ip’s is…I reckon we’ll do 2, maybe 3 this year, depends on funds.
Shushar,
I get Personal Investor too and had missed the article (I don’t read all of the mag, only the property sections) so I’d overlooked this.
Thanks for mentioning it, and although her plan isn’t one I’d be happy with, it’s good when something makes you think ourside the box and consider what will and won’t work for each of us.
PK
Thanks everyone, appreciate your time and ideas with this.
