Hi All,

Just a word on mortgage brokers…

Before I ever logged on to PI.com I was taken for a ride big time by a broker. Initally he had several lenders that I could go with. I just had to pay $750 (or thereabouts – it was a while ago now) and he’d get things happening for us. He then led me up and down the garden path for about six weeks…[Read more]

I’m hoping and praying it goes that way Robert. The whole situation is nothing short of tragic but I believe that a will would have been a good thing. I’m sure that a trustee could have been nominated in the will as well.

Cheers,
Sonja

BTW she was only ex by about 10 days when he died.

Beware if you don’t have a will and just assume that your estate will go to the next of kin. The person or persons who you define as next of kin may not be who the legal system names as next of kin. I am personally involved in a case where the status of “next of kin” is being contested via legal proceedings. Whoever wins the title of “next of…[Read more]

Hi All,

Personally I don’t care either way about the advertising links. I’m having trouble working out why this thread is so popular, seriously.

When I first noticed them I found it interesting that Steve and Dave had decided to work on promoting that side of their business. I couldn’t help but to speculate as to why…. Is there a message…[Read more]

Hi Kerri,

There is a fairly low limit imposed on additional income (not sure exactly how much) before they start to decrease your pension. This is not the problem because the amount of pension you loose is less than the amount of additional income you earn ie you have more $$$ p/w anyway. The problem as I understand it is that there is a limit…[Read more]

Hi Byronent,

After reading the council’s article I’m not altogether convinced I’d buy a house there but winning that raffle sounds pretty good to me – definitly +ve CF! I wonder if they are still going to run it…

Regards,
Sonja

There are times I have put my card in cedit for various reasons (never more than a few thousand though) and the points were awarded when purchases were made. I can’t see why this wouldn’t work on a larger scale if you have access to that amount of money. If you are borrowing to buy the house I’m not so sure that the financier would want to…[Read more]

I believe that Archicentre, http://www.archicentre.com.au offers pretty comprehensive and reliable pre-purchase inspection reports. I’m not sure exactly what they cover as I have only been made aware of them since my last purchase. I will be contacting them before my next purchase.

Regards,
Sonja

Hi rogrecog,

My thoughts are that you have done a lot of reading and thinking before making those 2 posts

Not sure how long it took me to realise for myself but I came to the same conclusion as you. There are countless ways to make money from real estate but just a few general rules that successful investors seem to follow. Some of these…[Read more]

Hi littlechook,

To answer to your questions:

1) You may or may not be setting yourself up for disaster by buying an IP with your aunt in mind. Does your aunt want/need to move? Were you going to ask her if she likes the property before you buy it for her to rent? Is she even interested in having you as a landlord?

Just personally I wouldn’t…[Read more]

Hi Kate,

I think you sound very brave. Although you are scared you sound as if you have already made the decision to change your live for the better. Don’t loose your focus – I believe that you already have a plan (you have repeated it several times on this thread) and you know your situation better than anyone else. Do your due dilligence…[Read more]

I made it inside the suitcase but exceeded the baggage allowance and got left at home…

Yep, ho hum…

Cheers
Sonja

And here’s me thinking that we were special because NAB now acknowledges that we have a “relationship” with them. We get a “relationship benifit” that seems to cover all of our transaction fees. Not quite a hamper with a hand written note though…

You must be very special Greg! Congratulations:)

Regards
Sonja

Hi Pat V,

I think you have a lot of insight for your age. I believe it is best to start good habits early so best of luck to you.

Hi All,

It is one thing to think you are financially prepared for a child and another to live the reality of paying for one. There are some events that you just can’t (or don’t want to) forsee. For example…[Read more]

Why limit yourself to banks when there are so many other finance providers? BTW which one treated you well IQ? It sounds like a novel experience to me. If you can’t tell… I am very unhappy with my bank right now. This is the 3rd and last bank I will deal with directly – IMO you can’t do better than a top class mortgage broker.

Kind Regards
Sonja

Hi all,

I have found that people who live in country areas are genarally friendly and willing to share their knowedge about their town. My advice is if you don’t already know a local or two then get to know them. If you are not familiar with the area then stay there for a while – the staff at the motel or caravan park will be a good place to…[Read more]

Hi KP1,

I’m sure there would be a low/no docs loan that you could use. Some of the mortgage brokers here will be able to give you more details. With 450k equity you should be able to do well. Good luck with it.

Regards
Sonja

Hi Michael,

Perhaps I heard it from you at the Reno Kings seminar in November? It’s not something I’ve personally used and I suspect that with your reputation as a frequent buyer you may have more luck getting it accepted than I would. It’s definitly worth being aware of though.

Cheers
Sonja

Hi Shackles Off,

I feel this is really a question that only you can answer… Just how nice is it to have that property? (vs how nice are the possible alternatives?).

If you decide to sell it though, I think it would be worth waiting for another couple of months as you will then qualify for 50% profit CGT free. You must hold the property for…[Read more]

I recently heard something along the lines of “subject to approval by purchasor’s solicitor” which I quite liked the sound of. It doesn’t sound too long winded or list lots of conditions that may make the vendor baulk but it gives VERY broad protection.

Regards
Sonja