http://www.tradingpost.com.au is a pretty popular site for advertising houses for removal.

Mal

Getting out of your comfort zone, can help you become comfortable

There is no point putting in a low ball offer unless you can substantiate the offer with verifiable facts or other data. Otherwise it’s just a punch in the guts, insult.

If you really want a property and other may be interested, don’t muck around, make your first offer count. The agent is interested in finding out how much you are prepared to…[Read more]

Paul, I definitely was not refering to you as a clown.
There are just those people that do things to tick others off, doing stupid things like you say, blocking intersections, causing riots, venting their spleen at someone only trying to help… the list goes on. Just a bunch of clowns really.

Mal

Getting out of your comfort zone, can help…[Read more]

Skills shortage, maybe !!

But definitely, “Too many clowns , not enough circuses”, I’d say.

Mal

Getting out of your comfort zone, can help you become comfortable

Hi Anita,

The grass is always greener on the other side !! until you get there.
You may be unhappy with ANZ, but I can guarantee that you will be just as unhappy with Wizard.

In a post recently I described my structure, and said that I was planning on leaving my lender where I have set up what you are proposing, (except that I only have a lend…[Read more]

If you are unable to settle, and you are not even in the position to move the settlement date, then don’t be expecting any change from your deposit. And depending on subsequent costs to the seller and if they are unable to get the same price that you had offered, then they have every right so sue you for those costs and difference in the sale…[Read more]

I asked a similar question at work recently but was unable to get an answer, so I’ll throw it out here.
If I subscribe to shares in an IPO, using borrowed money, say $50,000. If at allotment time recieve no shares in the IPO and subsequently get my $50,000 cheque back 2 months later, can I claim the interest on the loan for an investment that…[Read more]

Subscribe to AFR Smart Investor and BRW, and quite often buy API and Your Mortgage mags. Haven’t picked up a book as such in a while, but have read numerous, motivational, property, superannaution and other Investment books. Having recently finished 6 years of uni I’m pretty happy not to be picking up books for a while. Kind of miss Stephen…[Read more]

C@34,

Yep, I’ve never had a valuation done on new purchases of IP’s. As all my IP’s are interstate, I’m simply required to sign an “Out of Region Form”. Which basically says that yes I’m aware of the possibility of 2 tier marketing interstate, but I’ve done my homework.
Stamp – Loan Approved.

Mal

Getting out of your comfort zone, can help you…[Read more]

alex,

That is a pretty standard clause in a residential insurance policy. You are required to inform the insurer if the property is going to be left vacant for an extended period. This even appies to you PPOR if you plan to go overseas for a couple of months.

A landlord insurance policy can include all of the components you mentioned. It’s just…[Read more]

natwayne,
Derek’s question is pretty valid , if this looks like a problem tenant, put it in the contract that is to be vacant posession. It much easier to get rid of them now rather than later.

JVT,
I’m from Sydney, and have an IP in Perth [biggrin]. I don’t think that Perth will come to a screaming halt just yet. And before there is any 8-10%…[Read more]

It really depends on the current accessability to the property.
If accessability is steep, then yes it can have a hugh impact on the price.
Check out this property – stick a driveway in and it would sell for more than the asking price. Price has actually dropped 30k over the last couple of weeks. 7-10K on a driveway would be well worth the…[Read more]

Worst case scenario, you will no doubt get more than 1 offer from a financial institution over then next couple of months to take up an offer on their new and inproved credit card.
Take up the offer, cash advance the interest required while on holidays. Hell of a lot cheaper than selling.

Mal

Getting out of your comfort zone, can help you…[Read more]

Originally posted by APerry:
Hi Mal,

Your structure sounds good, apart from a couple of things. If you have multiple loans with one institution you are often able to negotiate higher discounts, I can’t see a good reason for using multiple lenders unless they refuse to keep lending to you.

I would also have some concerns re the deductability of…[Read more]

As I have a mortgage over my PPOR, my strategy is to reduce that personal debt. I have 2 account withing my mortgage over my PPOR. 1 personal, 2 Investment.

All my IP’s have seperate loans with a different institution to that of my PPOR. All but 1 IP loan is Interest Only, (The 1 P&I will be changing soon to IO, after a revaluation) . I try and…[Read more]

The Cooling off period is unrelated to the Pest & Building and Finance conditions. Your can waive the cooling off period but still have the P&B and Finance approval conditions.

Have you had the place valued.

If the contract has Pest & Building and Finance conditions, and they know that these 2 conditions will be met, but you have offered a price…[Read more]

Hi Insan3,

No one in their right mind should look at a -CF of -N Geared property if they do not take into consideration the expectation of Capital appreciation.

It’s not about getting a tax break, -N Gearing is just more tax effective if you are in a higher tax bracket. The Strategy of negative gearing or having a negative cash flow should…[Read more]

Originally posted by redwing:
They say a fool and his money are soon parted..

I always wondered how a fool and his money got together in the first place??

They usually get together through an undeserved windfall.

Mal

Getting out of your comfort zone, can help you become comfortable

Terry,

What you are describing is Taxable Income. I agree with you, that for tax purposes that there is no change.
Assessable Income however is not net of allowable deductions.

Assessable income
Less Allowable Deductions
= Taxable income

Scenario 1 –
salary = $30000
Rental income = 26000 (tenant not paying expenses)

Rental…[Read more]

Terry ,
You are right that for tax purposes the effect is the same, however I suspect there are other financial implications in this scenario.
By making the tenant pay for expenses and reducing the rental income that you recieve, you are effectively reducing your assessable income. Your assessable income is not what you pay tax on. It is simply…[Read more]