I’m reading “Pooh’s Heffalump Movie” to my daughter. It’s far more interesting and eduactional than most investing books.

Hi Dr X,

I’m sorry the only town planning solicitor we have dealt with in SA has apparently since died. You should speak to John Stimson at Connor Holmes Consulting, he’s a top class town planning consultant his phone number is 8232 9088.

Gross, can you go direct to appeal in NSW, this is not possible in Victoria although often developers push…[Read more]

Dr X,

Unfortunately this is a common occurance. You have been bitten on the bum by local government poitics. Having received support from the council officers, you have a very strong chance of wining at appeal. I should be able to get a recommendation for a good solicitor for you, I’ll try and get back to you tomorrow with some…[Read more]

I use Andrew Goldberger and Morry Kalkopf at Guests Accounting in Caufield (www.guests.com.au). I have also referred them to a number of forum members before and all have been more than happy.

Regards
Alistair Perry

Hi Gross,

If you have a very high income you can get 85% no LMI through Westpac. This has been available for some time. Thee is also a smaller lender offering 90% LVR with no LMI.

Regards
Alistair Perry

Hi Learn&Share,

You can do it well for about $10,000. Your major cost will be the designer, then you have a town planning consultant and finally a surveyer. There is also the possibility of needing other consultants such as an aroborist or traffic engineer, although these are not always required.

It is important to understand that when you are…[Read more]

Hi Gabmar,

One of the great things about property is the amount of leverage it allows. This is not extended to properties such as retirement units. If you have a lot of equity and are just after cashflow then it may be ok, but if you are starting out and do not have a large equity base then buying such an asset will hinder you in moving forward,…[Read more]

Hi Mal,

That all makes a lot of sense. Personally I would use the one lender to maximise the IR discount, but having a different lender for your PPOR does give it a little more protection.

Regards
Alistair Perry

Hi Mal,

Your structure sounds good, apart from a couple of things. If you have multiple loans with one institution you are often able to negotiate higher discounts, I can’t see a good reason for using multiple lenders unless they refuse to keep lending to you.

I would also have some concerns re the deductability of some of the interest against…[Read more]

Hi Erik,

Its not from a private message, I wouldn’t have copied it if it was. But thanks for clearing it up.

Regards
Alistair

Erik,

You posted this elsewhere on the forum,

Something for you, I have a friend with a house in Minchinbury on 700sqm. House next door is going for sale and there are town houses in the street already.

Interested in looking at it or would you know somebody that is

Who owns the house, you or your friend?

Regards
Alistair

Hi Wazl,

$5,500 for plans and taking the application through to permit stage is pretty cheap. I would be concerned about the quality at that price.

As you wouldn’t need the extra money unless you received a permit anyway, you should not be too concerned about having to pay it out before you receive a finance approval. Your broker should be able…[Read more]

For some great free info on commercial property have a look at http://www.gal.com.au

Regards
Alistair Perry

Hi Lionheart,

There are several software packages that do this, taking into account your tax rate as well. PIA by Somersoft and POSH are two that I know of.

Regards
Alistair Perry

Good.

This is a significant change in there advertised policy. However, in actuality they have been able to do this for a number of years. I purchased my current PPOR on 85% LVR three years ago and paid no LMI.

Westpac will also likely be making some other major policy changes in coming weeks.

Regards
Alistair Perry

Hi Gerrit,

The First Home Owners Grant (and reduction in stamp duty in some states) is a compelling reason to purchase yourself a house first, even if you only live in it just long enough to qualify and then turn it into an IP.

Apart from this, it probably makes more financial sense to purchase IP’s and rent. Although purchasing a PPOR has less…[Read more]

Hi Karen,

Most lenders will not finance properties if they know it is for a wrap. Your first moves should be to get yourself a wrap savy solicitor and a lender who can assist you.

Regards
Alistair Perry

Hi Brizza,

They will value the titles seperately and will do residential contruction loans on each, no problem.

Regards
Alistair Perry

Hi Ozi,

If you are planning on developing in the future, I would suggest that you go through the planning stage as soon as possible as it is going to take anywhere from 6-12 months to get a permit. Once you have the permit it lasts for 2 years and can be extended for another year.

It is good that you will be in a position where you can choose to…[Read more]