The reason I ask is that some lenders ignore default payments under $500 if they are paid, although they sometimes need to be at least 6 months old.

With an outstanding debt, I think you will find it difficult. The MB’s on this site can confirm that a non-conforming lender may be able to assist. Although I would have thought, you would need to…[Read more]

Retire40,

How much are we talking about?

Is your agreement with the financial institution that issued the CC in writing and implemented?

I heard a rumour that wages were going up across the board so that people can afford to buy overpriced shoe boxes.

Because they might be able to, doesn’t mean they will……There are too many other more significant influences in the current market that clearly over shadow any potential rise in wages/salaries.

Few friends call Fox News, the real Comedy Channel. It is good for a laugh.

Funnily enough tonight, they were expousing the triumph of the Iraqi elections and analysing the reaction of foreign press headlines and whether they were pro or anti Coalition/US.

The last time I was up there (November), most of the subdivision (except for townhouse development) for houses were in Coomera Waters, which were a pretty penny.

Despite the amount of development, I think it is a solid area to invest in. (I need to disclose that I do have a 3br townhouse in Coomera as well!)

John,

Currently own a 2br apartment IP in South Melbourne (bordering Southbank) and rent a 1br apartment in the same area.

From a prospective purchaser, I think you could do better elsewhere for the moment. Although most media & other investors lump CBD, Docklands, Southbank & St Kilda Rd as one homogeneous group. Which is definitely…[Read more]

HG,

I think it might to wise to look at diversifying your investments. So maybe shares & property.

With regards to an IP purchase(s), I actually think time is on your side and don’t believe you should rush. You have time to do your due diligence without worrying that the bargains will vanish.

Alternatively, I think development or renovating…[Read more]

Initially, I would consider at least, setting up a LOC against your PPOR with an offset account and park at least initially, the money in the account, which effectively reduces your non-deductible payments to zero.

The LOC then can be utilised to purchase shares, property etc and the interest is then deductible.

James

Philip10,

Photographic misrepresentation is a practice that has definitely occurred, however with both the ACCC & REIA involved to address this and other issues, any breach is now potentially subject to breaches under the Trade Practices Act
for misleading & deceptive conduct as well as code of conduct breaches under the state RE…[Read more]

Thanks Michael, will head down to the newsagency this afternoon.

In the instances where you purchased (on behalf of your clients), how long is it envisioned before the vendors actually commence construction of their development sites?

Hard to add value to a storage unit. Can do that to other property through reno or re-development.

A caveat could be placed on title to protect your interests (in addition to the contract between yourself and the purchaser), as many banks do not give permission for registered 2nd mortgages.

Is this a residential property?
Is there a current lease on the property?

Michael,

These sites in Frankston are they for development within the next 12-18 months? Or are they intended for a longer hold period before development?

Have heard some commentary that whilst good size blocks are available in Frankston in the price range you mention, the numbers re development do not quite stack up in the next 18 months given…[Read more]

Jamie1au,

Should we set up a trust, if so what type?

A unit trust allows each individual to purchase units in line with the % ownership you have all decided upon.

Are you planning to invest togther in the future or is this just a one-off?

Should we all put in the same amount equally

Are you aware of the detailed financial position of each of…[Read more]

Great idea.. Thanks Hutch.

Andycasey,

http://www.ato.gov.au/individuals/content.asp?doc=/content/43486.htm&page=19#P2951_293192

If a CGT asset, including a share of a jointly owned asset, was transferred to you because of the breakdown of your marriage and it was acquired by the transferor before 20 September 1985, you are also taken to have acquired the asset before that…[Read more]

Giddo,
This doesn’t answer your question directly, however I think you will find that the mortgage insurers have a significant influence on bank’s lending policies regarding small towns.

The link will give you a guide as to what PMI (one of the MI’s) deems what location is eligible for mortgage insurance and therefore what LVR ratios can be…[Read more]

1. Are you happy with your family living in a rented premises instead of owning your own home? This is mroe a lifestyle/philiosphical judgement, which IMO, there is no right or wrong answer.

2. If you have no objections to renting, then is this premises ie rent costing you less than that premises you would consider purchasing ie loan…[Read more]

Matt,

Focus your time on creating value. Don’t sweat on the small stuff.

I think you would soon come to the realisation if you were to have a few issues, that a PM is definitely worth having. In addition there is a requirement to have a solid knowledge of the relevant legislation. Sometimes, an inadvertant error can cost you.

On the whole,…[Read more]