That sounds quite good then in terms of what you are able to purchase the property for – The only problem will be finance, but I will address that below. WIth regards to the valuation:Who is the valuer? Can the vendor provide you with a copy of the report? If you work out who the valuer is, you can then ask your bank if the same valuer is on their…[Read more]

hence I was a little worried about the "current" bank valuation. I fear it may be the agent or the vendor advising the bank's "most recent" valuation which may not be recent at all…

rtsapstead, Has the bank valuation been done by YOUR bank in the last couple of weeks, or is it one conducted by the existing vendor's bank? As a general rule, the bank will not value a property for you that you dont own (unless you can present a signed contract of sale), so I will assume it is the existing vendor's bank that has valued the…[Read more]

Hi Chiz, I am not an accountant or tax advisor, so I will certainly allow for any revision of my comments by more qualified people, but here goes: If the shares have now been delisted/closed from the market, then you may claim the capital loss in this tax year. The problem for you will be that, as you pointed out, it can only be claimed against a…[Read more]

I actually saw an article on Lateline (or Lateline Business, cant remember!?) regarding that issue. Apparently a couple of law firms are gathering together companies who have been affected by the sudden change and are now going to litigate!

I remember you mentioning something about a failed business attempt – Just wondered whether the superannuation investment stuff was as an advisor/broker (ie: self employed), or working for a business…. but that was before i googled cbpd

I have spoken to four principals of different real estate agencies in the last couple of weeks, and all have commented that the current Melbourne market conditions "can not be sustained". This is the obvious comment one would have thought, with the real question being WHEN will it slow down? Steve Mc's last e-mail newsletter stated something along…[Read more]

Very handsome property BC, and nice work with the kitchen deal!Do you work from home by the way?

If you can afford the additional leverage then why not go for growth? If you fund a shortfall of lets say $5k per year for 10 years, but then are able to sell one or two properties after that time and have 6 unencumbered properties left over, wasn't it worth the cash flow shortfall? Now I understand that if you are 65 or 70 years old then this may…[Read more]

I would need to read the contract to determine whether you are entitled to receive the deposit back, however you can always threaten to take your experience to another level, which might entice them to give it back willingly. You'd be surprised how quickly they are willing to assist when you mentioned taking them to small claims or going on Today…[Read more]

They are an interest free product for anyone with a full balance direct debit option (assuming you don't go over the limit!)All mine does it pay utility bills etc so I can leave the cash sitting in my offset account for an extra 30 days or so – And apparently I receive reward points for using the bank's money to save myself interest?Used correctly…[Read more]

Who is the Mortgage Detective? He sounds smart

Hi Banker, I wasn't having a go at the X Coll discussion, just making a comment. I often get finance arranged for clients within a couple of days, so I agree with your point on relationship management.Once in a blue moon I actually attend a settlement myself depending on the client and the urgency!

If I'm not mistaken, someone already took care of that on your behalf in another forum

Hi J.W, Whilst I am a property investor myself, I generally sit on the other side of the finance desk with one of the banks. For this reason, I will let some of the Mortgage Brokers who deal with all the banks lend their expertise on this one

I'm already number 3 – Wesley ranks slightly ahead of me in the household rankings (our dog!)

I just had another thought – Perhaps purchasing some of the units through different lenders might get you a higher LVR?

RIch, If you now make one as well, then I forecast the property market to crash at least 20% by the end of the year…

Well, in all honesty I don't mind whether we do a rehearsal or not – It's the honeymoon I'm looking forward to!6 weeks off from the banking world may just prove too tempting by the way… Anyone got any bright ideas for an alternative career path where I can get back up to 6 figures with a couple of years? (And yes, I will accept property investor…[Read more]

Hi Sonya, Try searching in a few towns in North West Vic.If you don't have much luck then please PM me.