[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

February 7, 2013 - 11:37 pm

mjm2 wrote:

Apparently the vendor does not want to produce a section 32 until he gets an offer he is happy with…..

Isn't it illegal to advertise a property without a contract ready? 

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

January 4, 2013 - 5:26 am

Doesn’t seem like a rosy future ahead.

My FIL has a small engineering shop in outer Tokyo but is almost being forced to retire due to lack work coming in.

At the moment they are buying other currencies as their accountant has warned of a massive devaluation of the Yen to be coming soon.

My worry is that so many people believe that the government will be able to provide for them in retirement as they have paid the super tax during their working lives, but it just doesn’t seem sustainable with an ageing population and massive government debt.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

October 19, 2012 - 10:43 am

better to do this than use your own cash IMO as the whole IP loan(s) is tax deductable even though some of it is secured against your PPOR. just don't cross your IP and PPOR loans. best see a good broker

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

September 25, 2012 - 11:19 pm

Had this one sent to me when the stimulus package was first announced. thought it was pretty stupid then too.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

July 20, 2012 - 12:36 am

If its your first property, its definately worth talking to a broker.  Don't fall into the cross collateralisation trap as Richard mentions above.
been there done that, it's a nightmare to when it comes to number 2.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

July 19, 2012 - 2:11 am

bigmama wrote:

I asked this of my lending officer but she wasn't keen on IO for some reason but from what I can gather from these forums she might not be giving me good advice???? !

Never take the banks advise as to being in your interest, they look after their own not yours.
IO on the IP is a no brainer whilst you have non deductible debt

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

July 2, 2012 - 11:59 pm

Jpcashflow wrote:

Hi every one, We are in the process of selling our bussiness, unfortunately the bussiness has been for sales at 500k (this is what we owe) For about 6 months but in order to get a sale in this current climate we might need to take a 50k to 100k loss. Our bussiness is set up as family trust an my wife and I are only 28 so we can recover quickly. It's a bit hard to swallow but we have learnt allot, if we get a sale my PPOR loan will increase by the loss but our accountant has advised that the loss can be claimed for future ventures. Any one ever had a hard hit in bussiness

I read somewhere the other day that the rich will always loose at least once, the only people that never loose are the poor (except in the long run).
Good luck for your next venture.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

June 5, 2012 - 4:25 am

bricman wrote:

Hi

My creative project was at the end of last year and well not so creative as some suggestions on this forum, it was to me.
We bought a relocatable cabin for $16k along with all the costs involved to install on my IP site (TOTAL $36k) and we rent it out currently for $200 p/w along with the main house. A dual occupation project.

The creative part for us was getting the existing cabin onto the site as we had no side access and surrounded on three sides by neighbouring properties, we ended asking the back neighbour if we could drive an 18 tonne truck through his property in return we would erect a new fence at the back (falling over), mazingly he agreed and could not be more helpful.

Sometimes people are amazing when you give them a chance!

Cheers
Ian

Sounds awesome bricman. 
this is what we are looking at doing for our next project.
Do you mind me asking where you sourced the cabin from?

cheers,
Ben

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

June 4, 2012 - 7:32 am

yep,
my PM told me to stay away from Venetian and vertical blinds as they will never be cleaned by the tenants and are high maintenance.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

May 31, 2012 - 8:35 am

We just bought in Dubbo. getting about 6.5% gross return without doing any work. hopefully we can lift it with a bit of TLC if the tenant ever moves out.
The prospects look good with 1% rental vacancy and the prospect of 1000 new jobs in 2 new mines plus any indirect jobs over the next few years.

Long term Wellington to me doesn't seem to be a sustainable town. lots of boarded up shops and social problems, although the new jail was a windfall.
That being said, property generally sits on the market for longer.  So if you fancy yourself as a bit of a negotiator their may be some good deals to be found with good cash flow.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

May 28, 2012 - 10:56 am

Apparently it is possible if you are a politician, for the plebs it's possibly different.

Quote:

Of the 20 townhouses, built by developers Brian and Garry Boyd, the purchase price of only two apartments in the block was not disclosed to land titles department. They were Mr Arbib's and Mr Roozendaal's.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

May 4, 2012 - 5:17 am

Barry O'farrel tried to cut the tariff for existing installations but caved in to public pressure.  Cambell Newman might have more guts though .
we have a 1.5KW system cost us $400 in total ($9000 by the tax payer), and havent paid a power bill for 2 years.  Doubtful if it has added any value to the house although solar systems are in some RE adds.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

May 4, 2012 - 4:45 am

The problem is your income is only possible due to government subsidies and rebates. 
How long will these last?  Probably not long with a slowing economy and a general push back against green madness (thanks to the Carbon tax).
 
In NSW new installations only recieve 20c per KW tariff down from 60c.  this also applies if a connection changes.

also inverters need changing after 10 years, panels 20 years but loose some generation capacity over time.
 
Depending on the feed in Tariff and location your estimated income may be incorrect.
try this calculator

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

April 26, 2012 - 5:36 am

Also interested in the Renovation Toolbox or The Complete Renovation System. please PM me if anyone is interested in selling.

cheers,
Ben

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

April 4, 2012 - 11:30 pm

http://www.onthehouse.com.au/ is pretty good for sales and listing history, not complete but its free.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

April 3, 2012 - 12:05 am

jadamo76 wrote:

BMW thanks. Can I ask how much your paying in letting fee? and is there a re-let fee attached?

we haven't signed any contracts yet but two weeks rent is the norm in this area.
management fee is generally between 7-9% (so i have been told )

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April 2, 2012 - 11:26 pm

How many people with only 1 investment property get 5% plus GST for management fee?

we will be getting 5.5% at family rates also in a regional area

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

March 20, 2012 - 12:29 am

Yep, I was looking at property online in Dunedoo, a small town in central west NSW.

Was surprised the medium price was $220 000. Seemed a bit expensive, until I realised it was based on only one sale.

[BMWParticipant@bmwJoin Date: 2012Post Count: 25]

March 19, 2012 - 2:48 am

If the council is saying you can't build, then you most likely wont be able too.
if the sewer pipe is your internal line to the main council line, you may be able to move this at a cost.
if it is the council line, you have bucleys chance. 
The drainage diagram should indicate the location of these, but you can also check the location of the council line by looking for the manholes and join the dots between the two (they always run in straight lines).  the council will have a digital map of the location of it's mains but they are not always correct, and the advice you recieved from the council may have been relying on this.
I'd be ringing the council and asking what restrictions there are about building near sewer lines and asking for a map of the property with the sewer services. 

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March 10, 2012 - 10:14 am

3.       ANZ have been receiving allot of publicity about supporting coal power plants rather than green energy.

 

So ANZ don't like to throw money down the toilet?  if thats the case maybe i will give then some more thought next time.