Hi,

It is not advisable to buy appreciating assets in a company structure. You will lose the CGT discount. A discretionary trust is the way that I have gone also.

Sounds like you would benefit from reading Steve McKnight’s “Wealth Guardian”, which is all about different structures for asset protection etc.

Good luck,
Del

Hi Leigh me again,

The more that I think about it, it may be worth ringing the agent again, and asking “has the contract of sale been signed by the vendor yet??”. If the S32 is still not available for some reason, you might still be in with a chance.

The other purchaser could have just said verbally “they will buy it”, which isn’t legal, or…[Read more]

Hi Enjo,

Hope things are going well with your wrap.[]

That’s bad luck about missing out.[] It is very hard to make decisions in that much of a hurry.

A purchaser cannot sign a contract without having a current S32, so I guess an offer is just that, an offer, not a sale.

Dont worry, the next one will be better!!!!![][]

Talk to you…[Read more]

Hi Matt,

We recently did a reno. on a house in a large regional town. The house come up great, but it still took 4-5 weeks to tenant even though it was priced fairly.

The prospective tenants were all inspecting, but when they did, the nextdoor neighbour was playing his BLARING MUSIC[}][}] and scaring them all away. He was the neighbour from…[Read more]

ChocolatE,

Sounds like you will make a big “BOO-BOO” if you buy this property, if it is just to get the R/E Agent to notice you.[]

What is your goal?? Why do you want this property?? Are you looking for positive cashflow or capital growth??? How many neg. geared ppty’s can you afford? Will buying this house be a great start to your property…[Read more]

Hi 111111,

Big differences aren’t they??

Perhaps try an insurance broker. They may be able to tell you better if there are differences in these policies. It’s so hard for the average person to understand the FINE PRINT!!!

Stuart from Pro Solution (mortgage broker) gives on-line quotations for insurance at http://www.prosolution.com. I have not used…[Read more]

Vindaman,

Don’t do it!! Don’t go.. There’s no such thing as a free flight. These type of people don’t like taking NO for an answer.[][][]

My advice (for what it’s worth)… Keep reading this forum for a month or two, and learn enough to do it on your own. [][][] It will save you THOUSANDS!!!!

If you do go and sign up, PLEASE make sure you…[Read more]

Hey Fullout,

Congrat’s on your first I.P.[8D]

If your IP is a long distance away, you probably won’t get any keys, unless you specifically request a copy from the RE letting agent.

Assuming you have a loan for this, the title will be held by the bank that has mortgage over the property. You won’t get it until loan is paid off.

All you really…[Read more]

Terryw,

Yes, our offset a/c is set up against our PPOR. (At least we did that right)!![]

I’d be happy to change our prev. I.P’s to I.O. however, they are at fixed rates. Can you still do it, or does that change things?[?]

Thanks,
Del

Thanks Guru’s,

I.O. it is now! []

Sometimes it’s easy to forget the BIG PICTURE !![]

We should repay our PPOR debt before our I.P’s.

I will leave our loans that we already have as P&I, but for the ones under contract, they’ll now be I.O. until our mortgage is paid. That will give us a good mix also.

This forum is great to reassure you of…[Read more]

Hello Xenia,

Since Sooshie and A.D. have gone on holidays[8D], AT THE SAME TIME!!!!! [](who authorsed this[?][?]), I just wanted to say congratulations, and good on’ you. Was it a hard decision to leave medicine, or are you like me, and find that dealing in property is the best medicine of all!!!![^][^][^]

I’m not from SA, (Vic), but please…[Read more]

Hi 111111,

It’s a bit difficult to judge when you don’t know all the details, as tom100000 said. Is it pos. or neg. geared? How long has it been on the market? Is it a bargain as it is, or does it just pass the criteria?

I’d DEFINATELY use it as leverage to reduce the price, and say you’re prepared to walk.

I guess in the end, I would go…[Read more]

Hi Fullout,

Our solicitor in Vic. charges us approx $600 to $650 on most conveyancing work. We get great, personal, prompt & friendly service, WITH NO STUFF UPS.

If anyone is interested, I am happy to give you their name & phone no., just email me.

Our email is wilandel@bigpond.com
Good luck,

Del

Hi mfm69cairns, (wow that’s a mouthful)

The only thing that I could add, would be when building a new house it’s very easy to get carried away with “little extras”. In building a new house for an IP, or doing a reno for an IP, I feel the most important thing is set a strict budget, and DO NOT go over it, (unless something unforseen…[Read more]

Morning everyone,

I hope you all went to bed last night, and didn’t sit up on the forum till your eyes went slanty![|)]

Scott – Good game apparently!! Sorry I missed it.

Stuart & Terry – thanks for the info. I will definately be making some BIG changes very soon!![]

Enjo – will ring you later.[]

Have a wonderful day,
Remember the early bird…[Read more]

That’s OK Scott,

Lucky we’ve had half a bottle of red wine too, we ca n re ad you ju st fin e !!!!![][]

WIL AN DEL

Thanks Scott,

That’s quite a good saving isn’t it!!

I will be asking questions of my bank tomorrow morning. Naturally the bank’s wouldn’t tell you about it, would they??

Have a good nite,

WIL AN DEL

Hi Dianne,

We have done 2 reno’s which incl. painting whole house, and we also obtained quotes for the painting. We were quoted $3000 – $4500 for inside of one average 3BR house. I think it depends whether the painter has a lot of jobs on at the time or not! After doing it ourselves, I think that $2500 is reasonable!!!!

We did it ourselves,…[Read more]

Hi Stu,

The thing that we (and I think others) really want to know is:

When you set up a trust structure, what info do the banks require about prev. loans in the guarantor’s names.

We have just set up a new trust structure, and are applying for finance, and the banks seem to want to know EVERYTHING applied in my name, our businesses name etc…[Read more]

Hi ENJOLady, STEVE & DAVE & Crew,

I’ve got to say that I totally agree 100% with what you just said.

Last weekend we managed to purchase a block of 5 units at a great price, even though other “big investors” were in town looking to buy. (The agent handled the sale by the book, however, if he wanted, he could have held our offer until the other…[Read more]