hahahahahahaha…. I lost that title in 1998 after leaving the Gold Coast. It has been down hill ever since!

TMA

I noticed you had a neutrally geared property. I must assume that you have some equity in this property for it to be neutral. Even though you would lose an income that matches a liability, you should receive a good chunk from the equity to pay down other debt. The net result would be a lower ongoing liability.

TMA

Jerzy, I read your post just fine and my response was adequate. It seems you missed my comment about my post not being directed at you. I am over it.

If you think my above post was emotive in any way, you do not know me very well. I like to think of many of my posts as blunt and to the point. It is also interesting you consider my comments as ‘stroppy’. Is this because you disagree with my comments so find the need for name calling?

Regarding your question, I never got ‘stroppy’ with clients. It only leads you to a situation of not receiving referral business which is very important to a broker.

TMA

There is nothing wrong with multiple applications if they are for different purposes. I used to do this all the time. Full disclosure on the application avoids any questions when the lender does their checks.

You have to remember that there is really only one company holding credit information about everyone and only two companies holding most information about mortgage finance. They just type in a name and, when multiple hits come back, alarm bells go off if it is not explained prior.

I think many people also do not realise how important their credit history is to them. It can both help or hinder you a lot when it comes to investment and finance.

TMA

There is also nothing ‘SECRET’ about the AusTrac database. It has been common knowledge for many years. The funniest thing about it is that, as Terry pointed out, people seem to think it only applies to transactions of 10k or more. It actually applies to any suspicious transaction. It can be for any amount.

TMA

So Hellman, please tell me the point of the whole exercise if not an attempt to defraud???

TMA

Sounds like fraud to me!

TMA

Anyone who advocates a hard and fast rule regarding investing should be considered lacking in knowledge. The ‘never sell’ advocates are so 10-20 years ago where views were very different.

I don’t know about anyone else, but when I buy assets, I like to profit from them as much as I can. If that means selling a current holding and taking a smaller profit (or even a loss) today to be able to buy a better performing or more profitable asset for tomorrow, I would happily do it. In fact, I have done it many times.

As an example, I bought a CBD unit in 1998 for 400k. In 1999, I found out before it was announced in the media that 15,000 units would come onto the CBD market within the next few years. I sold my unit for 500k and can now buy it back for 380k. Surely the ‘never sell’ adocates would approve????

TMA

Unfortunately, it looks like the OSR website is down at the moment. I do not want to answer on stamp duty concessions until I check it out more. I guess your decision will come down to how much you expect to lose with a property decreasing in value compared to selling pre-settlement and buying something else.

TMA

Inner city units are the road to disaster. They have been pretty useless since 1999-2000. I would not waste my time even looking at any size unit any more even though there is the rare deal here and there.

TMA