Akuma99 replied to the topic Who to see re: bad investment prop decision in the forum SteveMcKnight wrote:If you 13 years, 2 months ago
SteveMcKnight wrote:
If you can, give me a call in the office during business hours and let's have a quick chat. 03 8892 3800.- Stev
Oops missed this offer Steve, very kind, I will be sure to give you a buzz tomorrow
Akuma99 replied to the topic Who to see re: bad investment prop decision in the forum Thanks TC! I have sent him 13 years, 2 months ago
Thanks TC! I have sent him an email this morning.
Akuma99 replied to the topic Who to see re: bad investment prop decision in the forum Help Needed! 13 years, 2 months ago
TC62 wrote:
You also may have civil claims for Tort breaches.
Hi TC,
Thanks a bunch for the suggestion, it is something we should address further, as Steve above mentioned, the emotional journey it took us through over the past year or so made it hard to imagine a trip through the courts, but, with a fresher state of mind now it is something…[Read more]
Akuma99 replied to the topic Who to see re: bad investment prop decision in the forum Hi Paul, Steve and Terry and 13 years, 2 months ago
Hi Paul, Steve and Terry and thanks for your replies.
We have been having a good think about it over the weekend, and everyone’s replies were a great help, and your replies pretty much sum up where we see our options.
1. Personal loan to cover the shortfall: This is a definite option, however I am not so sure we would be very loan worthy…[Read more]
Akuma99 replied to the topic Who to see re: bad investment prop decision in the forum Scott No Mates wrote:that’s 13 years, 2 months ago
Scott No Mates wrote:
that's why I'm suggesting an unsecured personal loan to cover the bank's shortfall after you sell.
Yeah definitely an option, although with how the books look, getting approved for the size of loan needed could be a concern, but worth looking into for sure.
god_of_money wrote:
Who did you go for the lender? I am sure that…[Read more]
Akuma99 replied to the topic Who to see re: bad investment prop decision in the forum Help Needed! 13 years, 2 months ago
god_of_money wrote:
The bank must have full valuation ordered on the property prior to lending ?How can u borrow 360k with 290k valuation? who inflate the price?
The exact question I had for them, and to this day have not got an answer. At the time there were some shonky valuers tied up in QLD property scams, but no proof it had anything to…[Read more]
Akuma99 replied to the topic Who to see re: bad investment prop decision in the forum Help Needed! 13 years, 2 months ago
Scott No Mates wrote:
A dud investment is just that. Your best bet may well be debt reduction. Bite the bullet & sell at market value, wear the shortfall & pay it off asap. Your accountant would be able to advise if the debt would continue to be tax deductible.
The upside is that the capital loss can be carried forward & offset against future…[Read more]