Any news on what our 4 best friends (the banks) are doing as yet?

D'oh!Thanks for the advice Richard!

Thanks Richard, I appreciate the advice.  Why is it that my wife qualifies and I don't?

Good point Richard – have you had any wins you've had lately in regards to your wraps in the other states?

If they paid for it, why would you not let them take it??  I makes sense to me that if they paid for it, it's theirs…

I've had to do his before – but the other way around (I had only my name on the contract and it needed my wife's name also).  My solicitor took care of it.  I wasn't a big deal at all, so talk to your solicitor.

Sorry Wobbles,We just couldn't find a reason for you that it would be a bad investement good luck in your future ventures though!

Under investor HQ on this website, check ou "Wraps" and "Lease-Options".  They are both types of vendor finance.  I have 2 properties wrapped at the moment and it works well.  The best place to get a contract drawn up is from/by a solicitor who is an expert in this type of deal.

Hi Wobbles,On the surface, this looks like a property I would buy if I didn't live so far away (I'm in QLD).  Of course more due diligence than just looking at photos would be required, but if it were to pass a building and pest inspection, it seems like a sound investment.  Strictly from looking at the photos you might spend $10k to tidy it up (…[Read more]

Wow!  We've just seen another 1% come off interest rates today.  Who else is excited by this?!

I'd take positive gear over negative gear any day!

Hi Darth,Interest rates have dropped to encourage spending because no-one is.  How can spending be curved when it's already at it's lowest point for a long time?As far as our dollar goes, our economy thrived for over a decade when our dollar was downaround the 50-70 US cents mark.  It was only when our dollar jumped to almost $1 US that our e…[Read more]

nab announced 0.62% decrease

jphlau wrote:
real clever strategy by CBA to cut only part of the variable rate so that other banks would not reduce it further.

 I was thinking the exact same thing – they were reluctant to come down the extra .2% last month (I think they were the last to do so), and I think they now want to set the trend, rather than reply to one.

I say "here here" to your comments bardon.  All this fear and hype is unneccessary.  The whole financial "crisis"  is due to fear – so rather than being responsible and easing the fear, and in turn easing the "crisis", the media is feeding it.  Shares are down because people are selling.  People are selling because they are scared of losing mone…[Read more]

No, they can use any reason.

It basically means that they want 14 days to check things out (check something with the council, do some numbers etc) and if as a result of their investigations the property doesn't stack up, then yes, it's a get out of contract free clause.  Usually the clause is placed there with the best intentions (I have used one in the past when buying),…[Read more]

I have to defend socialists here – socialists are not communists (Jesus was/is a socialist).I believe you can be a capitaist and a socialist at the same time – it's basically enterprise without greed, doing business with the greater good in mind, the win-win solution.  Unmester isn't attacking capitalists (I hope), he's attacking greed.I'm a…[Read more]

I am not an accountant, but if you are borrowing against your investment property and using the money to inrpove the investment property, then yes the interest is tax deductible.

you might be able pull out of the contract, but there will be a penalty fee if you do seeing as you've gone unconditional.  Look over the contract to see what that fee might be, and get some legal advice.  You will then have to weigh up whether it's better to pay that penalty fee or just go through with the contract….