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  • Profile photo of Robbie BRobbie B
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    @robbie-b
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    What circumstances would they be?

    I was under the impression that the unit value will incur stamp duty.

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    Profile photo of Robbie BRobbie B
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    Yes you will if she earns an income from it.

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    Profile photo of Robbie BRobbie B
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    What do you call the “cheaper end”. What dollar value?

    I have property in Wyee Point and I find the next point (Mannering Park) to be cheap but there is not much money around from tenants. There is a lot of unemployment on the Central Coast.

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    Profile photo of Robbie BRobbie B
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    Thank you JPG, much appreciated.

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    Profile photo of Robbie BRobbie B
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    Are you sure about how much ‘useable’ equity you have?

    It would be better to tell us how much your property is worth and how much is outstanding on your loan.

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    Profile photo of Robbie BRobbie B
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    I don’t think they would do anything like this unless someone was living beyond their means… ie: had 6 houses, 3 cars, a yacht, etc and were declaring $20,000 gross income per annum.

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    Profile photo of Robbie BRobbie B
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    Most sensible thing I have heard you say Terry. I would also reduce my offer!

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    Profile photo of Robbie BRobbie B
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    Terry, how can he take action against an agent that was not a party to the transaction?

    I am also wondering how an agent who was not yours could force you to sell cheaply?

    It is all your choice. You did not have to sell unless you set a low reserve and the auction reached that price.

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    Profile photo of Robbie BRobbie B
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    Thanks Terry,

    I did not say Securitise = Collateralise though!

    Your lack of knowledge in this industry amazes me. We are discussing “Securitising”, not ‘Security’. They are totally different things! I provided definitions so you might work it out but that is obviously not going to happen.

    There is no such thing as “CROSS-SECURITISING”.

    Securitising is a process as outlined in the above definition. Collateralising is a method of releasing funds.

    As long as you feel the need to continue to show me no professional courtesy and make attempts at belittling me in the public forums, I will happily return the favour, It is too easy with you Terry!

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    It could also indicate that rents are affordable. An increase may see this drop off quickly. Current demand may also indicate lack of affordability to purchase a property or inability to obtain finance.

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    Profile photo of Robbie BRobbie B
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    2nd mortgages are usually restricted to 80% LVR anyway. Why not just get an increase from an existing lender. Alternatively, some lenders will just use a caveat which does not require approval.

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    Profile photo of Robbie BRobbie B
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    Try The Investment Detective from this website. It is a great tool and it is not costly!

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    Now that knowledge would be worth a fortune! I have never heard of it happening except with inter-family transfers in specific situtions and a private ruling.

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    It is no big secret… you either use equity in existing properties (where you may need to pay mortgage insurance), negotiate settlement terms that do not require large amounts of money to be put in or get the money from someone else.

    Personally, I think unless you have family or close friends willing to give you the money when seeking money from someone else, I would be worried about the person who agrees to give you the funds. An investor would have to be pretty silly to give money to an inexperienced investor or an individual who is not an established, licensed and insured property investor.

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    It is always about marketing. Whoever has the most media coverage gets all the business. Take Aussie for example… when I was there, they only had a panel of 17. 3 of those were Westpac and their different names and two of those were funders for Aussie Branded Products. That effectively meant they had a panel of 14.

    They heavily marketed themselves as independent and having all the right loans under one roof etc. They even said they had the time to find you the best loan. Well, from a panel of 14, they have buckleys!

    Anyway, the funny thing is Mortgage Choice got in trouble for saying similar things and they had a panel of 26. I never heard a bad thing said about Aussie. I believe the above comments in the media have since stopped by Aussie. I guess money thrown at the media helps a lot!

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    Always a please WQ (Wrap Queen!).

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    Profile photo of Robbie BRobbie B
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    Forget the union. Commence an action for harrassment in the work place. Send the documents to her bosses. At least the problems will cease immediately and management will be quick to agree to what you want otherwise they will have to pay. They can’t sack you as then they will be open to unfair dismissal issues. You do not have to go through with the action as you can withdraw prior to attending court dates when things are sorted out.

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    My position regarding Caravan Parks is pretty clear. In case anyone missed it, I think they are CRAP investments for those starting out. I would also NEVER touch one if I had millions to spare.

    Any manager of a Caravan Park could easily buy all the sites. They sell them for a reason. They can maipulate the tenancies in those sites they do not own. Why wouldn’t they keep their own sites full and only rent yours out when there is nothing else left? There are quiet times in tourist areas as well!

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    The poster formally known as The Mortgage Adviser

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    What are you trying to say Yack???

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    Cut you losses and move on.

    If you think $4,000 in back rent is a lot, wait to see how much you lose if you do not rent it out now and how much a private investigator or legal action will cost you.

    This is why you should take a bond and jump on late payers!

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    The poster formally known as The Mortgage Adviser

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