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  • Profile photo of Scott No MatesScott No Mates
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    dgirl wrote:

    Are there any other situations (other than buying a going concern) where GST may not be payable? 

    If the property that you are purchasing is zoned/has existing use rights as residential.

    Profile photo of Scott No MatesScott No Mates
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    In your case the desktop valuation is worthless as you don’t have a cookie cutter block. Get a real valuer rather than an extrapolated computer model.

    Profile photo of Scott No MatesScott No Mates
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    Something else to overlay is the median rent graph. Some bright spark was spruiking their +ve cashflow strategy saying there has been super rent growth due to demand outstripping supply over the past 5 years. Did someone forget about tight liquidity, falling house prices & a gfc?

    Profile photo of Scott No MatesScott No Mates
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    check the security of payments legislation – it will provide protection if it is an ip. you will need to notify the other party of the dispute within the timeframe though .

    Profile photo of Scott No MatesScott No Mates
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    If that is your main beef with super, change funds to an industry fund which has lower fees.

    Profile photo of Scott No MatesScott No Mates
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    The thread had me going too….

    At first, I thought it was a happy rainbow day type thing.

    Then, the big house.

    or … the dog house.

    But alas, nothing so sinister.

    You lost your posting rights – good to see you're back on deck Frecks.

    Profile photo of Scott No MatesScott No Mates
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    Generally, if both parties have signed the sales contract (ie exchanged), the vendor cannot retract their acceptance. If exchange has not occurred (and the contract has not been signed by the vendor), then the vendor is still open to offers.

    Profile photo of Scott No MatesScott No Mates
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    I got an email from a broker earlier today offering a 3 year fixed rate of 4.99%

    Looks like things are moving in our favour when returns are higher than the interest rate even in the capital cities.

    Profile photo of Scott No MatesScott No Mates
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    I didn't know you could get  a doggie bag that big.

    Profile photo of Scott No MatesScott No Mates
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    Beg to differ there Nigel, in the stratum developments that I have seen, the stratum does come first but the owner of the stratum has the rights to further develop their stratum eg a multi-use development may contain 2 or more stratum eg carpark, retail, commercial and residential stratum. If stage 1 & 2 eg carpark and commercial are built, the remaining stratum can be sold off to another developer who can then build and undertake strata subdivision of the residential component or retal components etc.

    (Not sure what happens in States other than NSW).

    Profile photo of Scott No MatesScott No Mates
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    If they have gone into the floor joists ask yourself how did they get there? ie through the bearers/over ant caps etc? Where else did they go? ie what is missing – walls, roof space?

    There may be a lot more damage that isn't evident to the inexperienced.

    Profile photo of Scott No MatesScott No Mates
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    Trading income – income derived in the course of doing business

    CGT – capital gains tax, a one-off profit derived from a capital transaction

    Profile photo of Scott No MatesScott No Mates
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    Why you want to keep the house when it will probably yield another 2-3 ? Check your numbers carefully as going down this path may not be the optimal use of the site or give the best bang for your buck.

    Profile photo of Scott No MatesScott No Mates
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    With regards to the rest of your fence, this is your/other neighbour's fence so YOU will need to get the quotes & contact the other adjoining neighbour – I would suggest contacting the same 3 fencers who have provided the quotes (since they have been to site and it would be cheaper to use one of these guys than another contractor.

    Profile photo of Scott No MatesScott No Mates
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    I use Austbrokers (North Sydney) – Angela O'neill

    Profile photo of Scott No MatesScott No Mates
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    Maintenance is a rarely defined item in a lease however it will largely depend on the construction of the lease as to what it may mean and to what extent each party is responsible.

    I have seen plenty of leases where the lessor is required to keep the exterior of the building/grounds in a similar condition to the commencement of the lease but also net leases where the tenant essentially pays for all maintenance and repairs (eg replacement of major components of air conditioning systems, replacement of fixtures & fittings when broken etc).

    There is no single answer.

    Profile photo of Scott No MatesScott No Mates
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    You may be better off getting in contact with a quantity surveyor than a valuer – the old chestnut: cost vs value.

    Profile photo of Scott No MatesScott No Mates
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    Query it. Ask for the comparables which they have used.

    Profile photo of Scott No MatesScott No Mates
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    It would depend on the terms of the loans & whether they were adequately documented (pure speculation).

    Profile photo of Scott No MatesScott No Mates
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    Check with the supplier regards burn marks from cigarettes & also flamability of each carpet.

    Wool carpet is too high quality for the location.

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