Total Members: 159,080

tom1000000

  • 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.

  • tom1000000 replied to the topic Water Useage – Who pays – tenants or landlords? in the forum Help Needed! 17 years, 3 months ago

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

  • tom1000000 replied to the topic Water Electricity Gas Question in the forum General Property 17 years, 6 months ago

    Hmmmm no answers :(

  • tom1000000 replied to the topic Home Loan Hints & Tips in the forum Finance 17 years, 7 months ago

    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]

  • tom1000000 replied to the topic BIG trouble with finance in the forum Finance 17 years, 7 months ago

    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]

  • tom1000000 replied to the topic EFM-equity finance mortgage? in the forum Help Needed! 17 years, 8 months ago

    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.

    B) 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]

  • tom1000000 replied to the topic EFM-equity finance mortgage? in the forum No Subject 17 years, 8 months ago

    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????

  • tom1000000 replied to the topic Help please – building permit problems in the forum Help Needed! 17 years, 8 months ago

    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!

  • tom1000000 replied to the topic Difference from shelf trusts??? in the forum Legal & Accounting 17 years, 8 months ago

    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]

  • tom1000000 replied to the topic Dodgy Extension! in the forum Help Needed! 17 years, 10 months ago

    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

  • tom1000000 replied to the topic Dodgy Extension! in the forum Help Needed! 17 years, 10 months ago

    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!

  • tom1000000 replied to the topic Great deal but need help to make it work in the forum Help Needed! 17 years, 11 months ago

    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]

  • tom1000000 replied to the topic HDT Accountant – in Canberra? in the forum Help Needed! 18 years, 3 months ago

    Thanks Terry

  • tom1000000 replied to the topic HDT Accountant – in Canberra? in the forum Help Needed! 18 years, 3 months ago

    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]

  • tom1000000 replied to the topic Canberra property investors – thoughts sought in the forum Help Needed! 18 years, 4 months ago

    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]

  • tom1000000 replied to the topic 2 months of research= 2 new IP’s in the forum Help Needed! 18 years, 4 months ago

    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]

  • tom1000000 replied to the topic Interest Rates Up! in the forum General Property 18 years, 6 months ago

    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?

  • tom1000000 replied to the topic Parents own too much land for pension in the forum Help Needed! 18 years, 7 months ago

    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.

  • tom1000000 replied to the topic HELP – bank has lost the title deed! in the forum Help Needed! 18 years, 8 months ago

    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]

  • tom1000000 replied to the topic A.Bank 6.60% in the forum No Subject 18 years, 9 months ago

    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.”????

  • Load More

tom1000000

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