I am only guessing….You could get a second power line and meter installed on your property.Then the solar panels would be hooked up to the second meter. As there is zero usage on the meter you would earn the money from solar.The problem is you have the monthly access charge for a power connection, I don't know what the numbers are.

Hello ElkamIf possible would you mind stating the approximate cost of getting a second water meter installed?ThanksTom

Hmmmm no answers

HelloBe careful if you decide to go for a "cheaper" loan. The smaller companies often have c$#$#p service and if you have a 30 day settlement you end up into forced delays due to the incompetence of the bank (this has happened to me in the past). In some ways you are better off getting a loan through the big banks because they generally get the…[Read more]

Unfortunately you have made one of the stupidist mistakes when buying a house. Next time you sign a contract you may want to be a bit more careful.  Would you care to provide a reason why you did NOT put a finance clause in the contract?You can delay settlement by a few weeks, maybe a month. In that time you have to raise the missing $20,000 plus…[Read more]

Hello Richard,

A) That is obvious, I should have been clearer. I was only referring to the $50,000 EFM portion of the loan. Of course the remainder is a standard loan.

Could you please clarify the EFM / Rismark portion. Say I buy a house and never sell it???? What happens then??? Does Rismark force you to sell the property 25 years after the…[Read more]

Hello,

I would like to know how Adelaide Bank or Rismark profit from this?

From their point of view they give you say $50,000 and then have to cop all the interest on top of that.

I could buy a property and sell it 50 years later. The loan will sit idly on their books for all that time.

So whats in it for them????

This shows you that councils are useless and can’t be trusted. I would get the council to put all their “rules” in writing, relying on the word of one employee is not a good idea!

Originally posted by Terryw:
yes, there are many different deeds so the accountant can help decide if you need a unit or discretionary or hybrid etc. Also the accountant can help decide who does what role. eg if you put your son as appointor you will never be able to distribute to him = one of my clients did this!

Terry,

I think this is a rare…[Read more]

Thanks for your tips LA Aussie. Regarding rebuilding I would also have to factor in demolition costs as well as loss of rent. I will put in an low offer and hopefully the vendor gives in and sells it cheap.

If not there are plenty of fish in the sea.

Cheers

Hello,

Yes the building inspection was a condition of the contract. That is property purchasing 101. So I can legally stop the contract easily.

Does anyone have any experiences with this sort of issue?

Thanks!

Hi,

Unfortunately if a person goes bankrupt the any transaction he/she did in the last 2 years can be reversed by the bankruptcy court. (I think its 2 years, might even be 5). This is to stop Christopher Skase selling everything to his distant relative two days before official bankruptcy, leaving nothing to the creditors. Well thats the…[Read more]

Thanks Terry

In my un-expert opinion its a lot nicer if you can walk into the accountant’s office with all the paperwork and get it all done in one hour or so.

If I go to Melb or Syd I will have to post the info and hope the accountant doesn’t leave it sitting around for a year or so. I have heard bad stories of that happening!

Anyway at this rate it looks…[Read more]

Hello David,

“No Land” is actually wrong. For example you may have 10 units on 800sqm of land. So your unit has 80sqm of “real” land. Units do have some land content, obviously not nearly as good as a house though.

If you look at historical data units have gone up in price (thats a gross generalisation – specific places have their own…[Read more]

Originally posted by peter-reebok:
And now I have taken possession!
Settled on Friday, tenants moved in on Saturday – at a rent above rent estimate
Quantity surveyor also had good news for me re depreciation schedules and what I can claim this year, so It is all Systems GO.

Congratulations Peter. Now that it has settled and you own the property…[Read more]

No one has noticed the GLARING mistake????

.025% is NOT one quarter of a percent.

It should be .25% (or 0.25%).

Just to add to the intrigue of this message. Who really wrote it??? Surely Steve wouldn’t make such an obvious error?

Have you heard of a “Reverse Mortgage”? They allow your parents to borrow money against the property very easily.

The only catch is the interest accrues and they will have to sell the property when they pass away. I guess they can give their children “first option” to buy the property, but I’m not really sure.

Thanks for your advice its good to know that other people have had the same problem.

I do want the title deed in my grubby hands with no mortgage over it. Then I can apply for a line of credit at a different bank; permanently ensuring the properties are never cross-collaterised again.

I have mailed a written complaint hopefully they provide a…[Read more]

It seems taking the loan off another lender would be the best deal for Adelaide Bank.

If that is the case…. why do they say “NO external refinances.”????