more about your situation scarecrow, how leveraged are you? are you using equity to service debt?

Benjamin this is all beside the point!      at the end of the day any landlord can experience unfortunate incidents, we could also get run over on the street and you have little chance to stop either really apart from not walking on the road or not owning an investment property!!

AS I understand the CGT he would only pay if he sells the house to you for a profit on what he bought it (a capital gain) If he sells it to you for the same price i don't believe there will be any CGT on the hand over.  Just like if someone sells a house undervalued, he doesn't pay extra tax because the value in effect might be higher. Does this s…[Read more]

what he's saying is that the valuation came in 25k less than the price he offered, which will affect what he can borrow as the bank will lend you either the purchase price or the valuation WHICHEVER IS LOWER.   when a valuater looks at the property they base it on comparable sales, as well as cosmetic improvements but it is not uncommon for pu…[Read more]

all services will be on when you get there, just ring when you settle and let them know you are moving properties

At the end of the day, is buying ex housing commisson houses really worth it? I can understand looking for good cheap yielding properties but when the maintenance goes through the roof due to vandalism etc. is  it worth it?  please discuss further

Would cost you an absolute mint to develop the 4 blocks (full acre) is there a market for it in holbrook? (sorry i dont know much about the area) don't want to move too early on something that size because when it comes time to sell you want to be maximising profits for the project.  if your desperate for money you could sell it to a developer o…[Read more]

http://www.ironwood.com.au (formerly known as roselle recycled woods)

try paying for it like the rest of us

Could you share the course information vicgirl please ? I am interested in this also THANKS

With the tightening of lending criterior in the lo-doc tier it will be very hard to get finance for any more then 60% Definitely not with prime lenders, you could try no-doc but i don't think it would be allowed.

Definitely agree with linar. Have you spoken to other REA about your property ? I can't imagine why it would take 7mths to sell unless they are not doing their job properly or its just too expensive!I may be looking at purchasing can you forward me the details? Maybe you can drop the agent and we can sell privately and we can halve the sale cost…[Read more]

What area is it in? If you are worried about it find someone to buy you out for the 10 grand you put in and to take over the contract.

Where abouts is the property if I may ask ? what price range

Trail commissions are lost on refinancing too!

you can do that ?

I think our next growth cycles will be more of a steady growth rather then the crazy boom we experienced last time. Booms tend to alternate, you usually see a high ramping boom, followed by a slow steady boom; but as time goes on and people grow older and the next generation come into play then people jump on the wagon and we experience another…[Read more]

if you were successful last time why wouldn't you??  to me its a no brainerp.s you dont have to sell it! borrow the money to renovate and re-finance and rent it for some more to help cover the interest costs!   ((assuming you have another income to facilitate the loan)) use the extra money you have gained to renovate another property p.p.s if yo…[Read more]

nvme8 wrote:
Tax deductions on redrawn interest. . . If I decide to draw down 50k from one of my IP's equity, can I still get a tax deduction on the additional interest that is attracted? If not my positive cash flow position could be turned negative very quickly and in extreme cases I could get stuck in a downward spiral of redrawing to…[Read more]

Does that count as a form of income Marc? Is there a need to pay tax on this draw down? Also  keeping in mind that any equity you draw against will incur extra interest so if you are using that strategy to get out of working then you would need to be in a better position then cashflow neutral ? Sorry if I'm confusing the situation