Forum Replies Created
Hi kenzel,
I don't beleive you would be eligible for the bonus grant on this property if it is already established, regardless of whose occupied it. The bonus grant is for the person who builds the property as long as they are a First Home Buyer.
For further clarification view the State Revenu Offices website http://www.sro.vic.gov.au
Regards
Robert Crick
Hi Pos,
I would be more than happy to have a discussion with you regarding the pro's and con's of what you are talking about confidentialy. Please feel free to contact me on the details below at anytime to discuss.
In a nutshell though, I have to say that I totally agree with Terryw's comment;
"not mix business and pleasure with your loans", as many accountants or like minded people would agree, it can get very tricky when you have to apportion interest, and is a lot easy if there is a clear distinction between the 2.
Kind Regards
Robert Crick
Commonwealth Bank
Robert Crick
Manager Personal Lending
Ballarat Branch1 Lydiard Street South
Ballarat VIC 3350
M: 0420 304 532
P: 03 5337 7564
F: 03 5332 1262
E: [email protected]Our vision is to be Australia’s finest financial services organisation through excelling in customer service.
Hi PochPoch,
I have a IP that i brought in Woodridge about 20 months ago, and have not had any trouble with it at all. I have had more trouble with the Real Estate Agent than anything!!
The property has increased in value by about $20k, i have increased the rent twice now, and i have had an excellent tenant who came to me 6 months before her last lease was due to expire asking to sign a new 12 months!!!
I know this may sound like a extreme case, but i did my due diligence when i was buying and it certainly paid off in the long run. Don’t be put of by other people talking down on so called “dodgy areas”, becasue investing is a financial decision and not a emotional one, and having this mindset when i purchased certainly paid of for me.
Cheers
rcrick
[hmm]Richard,
If i was in a situation where i was considering transferring the ownership of a property from persoanl name to a trust what would it cost me? If the property is currently worth about $150k. Could u please provide me with some sort of indication of how i would calculate this.
Thanks heaps Richard,
rcrick[biggrin]
Hi,
Just a quick note on buying blocks of units. I know from experience that some major lenders are funny about lending money to buy blocks of units where there is the same owner for all the units. Something to do with overexposure i guess?
I am looking into buying a small block of units myself at the moment (2 units), and the figures stack up excellent!
I am not sure if i read the comment correctly that was placed above, but there is definetley individual rates notices for each unit (in my case anyway).
I see the benefits though as being excellent; maintenance and general gardening upkeep would be lower than usual (per property) because you could split the cost between two and you would be getting the power of added volume.
Like anything, do your due diligence, and let the figures speak for themselves!!!
Robert Crick
[biggrin]
