I wouldn't dream of asking a mortgage broker to rebate fees/commissions.   If they've gone to the trouble of sourcing a loan and used their expertise to structure it properly I think it's worth far more than you can put in simplistic $ commissions.    

god_of_money wrote:
If I am the vendor on above clauses of contract.. I will run miles away or offer it to another buyer (despite lower price)

Me too.    Talk about overlawyered.  

mattnz wrote:
. The covenants state one dwelling per block.

Can covenants be changed?   Can that guy in front just go to council and ask for a change?

sapphire101 wrote:
Singer why would you buy a rent controlled property? ( And Wikipedia is not the best resource). There are thousands upon thousands of alternative properties where you control what rent you charge.

This is true, but the concept of rent control is just not on most Australian investor's radars.  I was just pointing it out as…[Read more]

Hi JacM No, I don't believe that is correct.  Your link is for immediate payment only. Here is the schedule for assets you are allowed to have.    http://www.centrelink.gov.au/internet/internet.nsf/payments/chartab.htm#bIf a person has that amount ($307,000), then they have to wait 12-13 weeks for benefits to kick in. Feel free to correct me if…[Read more]

You need to go through the appeals process with Centrelink STARTING TODAY.    This is intolerable.   Of course people can have money and property to get benefits – you may have to wait 13 weeks but you are still eligible.   Our tax dollars are meant to help people like you get your life back in order.   The staff in your local office are fobbing…[Read more]

Sorry to hear about all this.   If you are ill your doctor should issue you with a statement to give to Centrelink.   I don't understand what you are saying about social security and unemployment.   Something doesn't make sense.    If Centrelink has decided that you can work, you should be on the Newstart Allowance.   Why on earth would you drop t…[Read more]

dreamtobelieve wrote:
It was almost harder to rent a place than it was to buy.

Dead right.    I don't know why the industry attracts such silly and disorganised people.

Definitely leave it in – a bath, even a small one, is essential for families.   I wouldn't consider a property as an IP without a bath, because as S-N-Mates said, it cuts out families from your market.   

We are seriously regretting going the renting route thinking that we could do this and just buy IP's instead of another PPOR (which we stupidly sold).    If we'd known that renting is such a short term concept here in Australia (i.e. landlords seem to sell constantly unlike in Europe and the USA where long term leases are more the norm) we  wou…[Read more]

 Always wondered how fools and their money were so easily parted.

tonyy21692 wrote:
  If you are inexperienced you will be financially bled as quickly as possible. 

You hit the nail on the head.    From someone who lived there for many years, I hope your post is widely read.

Reeks of fraud.

I think you may be worrying needlessly.    It costs  $$ to put tenants on TICA and I think your agent would have informed you by email if there had been problems.   Once you get to know some PM's in your search for a rental they can easily just look it up for you if you are still concerned.      Good luck today.

Cash on cash return.  If you put COCR in the search box in the top right corner, some other posts come up explaining it.

Thanks for that.   It's because I've been reading Richard's and Terry's posts that made the light bulb go off, but it seems that there are only advantages and I was thinking that surely there'd have to be some disadvantages.      Good to know there isn't.        I'll go for it. 

DWolfe wrote:
Start at odd numbers

Just a slight disagreement here: as a recent vendor, this use of odd numbers was very irritating.    It just indicated a silly round of  game playing coming up.   As a buyer, I have one price, my highest, which the seller needs to take or leave within a few hours.      If it's rejected I am willing to negotia…[Read more]

Is it possible to structure these wraps or lease options so that the wrappee can accelerate the deal and own the property outright sooner than originally planned?      For instance, if they suddenly inherit enough to pay off the whole thing in one hit?

Beware: investing in NY can be hazardous to your income: http://en.wikipedia.org/wiki/Rent_control_in_New_YorkThe concept of a city council controlling how much rent a LL can collect is probably a little foreign to most Aussie investors.

Can I just interrupt the proceedings to say thank you to Richard and Terry for giving valuable and helpful information?     I never cease to be amazed at  their generosity in sharing their knowledge and really appreciate it.