PropertyInvesting.com | cmason | Activity https://www.propertyinvesting.com/members/cmason/activity/ Activity feed for cmason. Sun, 12 Apr 2026 05:26:20 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 9669fe444363c52faa656cde469aabd8 cmason replied to the topic Launceston Investment Market in the forum General Property https://www.propertyinvesting.com/topic/4402463-launceston-investment-market/#post-4639679 Thu, 13 Jan 2011 23:17:55 +0000 Elders Launceston is one definitely to steer clear of we had endless problems with them. Peter Lees who we are currently with are very professional and would reccommend them for property management.

Ravenswood is split by the main road which you use coming from Launceston CBD and leads to the IGA and splits in two. If coming from Launceston CBD…[Read more]

]]> eac91d8a40659b832bc8b0c7dbc61684 cmason replied to the topic Launceston Investment Market in the forum General Property https://www.propertyinvesting.com/topic/4402463-launceston-investment-market/#post-4639677 Thu, 13 Jan 2011 22:25:56 +0000 As with a lot of areas at the moment the Launceston market is flat and if there is a good time to buy there it would be now. We bought a property in Ravenswood(the good side) 18 months ago it has experienced minimal growth in that time but we are in for the long haul. Rent is reasonable giving us a yield of just over 6% currently. If you do decide…[Read more]

]]> e85a520075178c9d513c1849193cdae5 cmason replied to the topic Advice on investment property which has been paid off! in the forum Want2invest wrote: Hi https://www.propertyinvesting.com/topic/4402432-advice-on-investment-property-which-has-been-paid-off/#post-4639521 Thu, 13 Jan 2011 01:29:51 +0000 Want2invest wrote:
Hi Terryw,Thank you for your reply.I would ideally like to pay off my PPOR. I am trying to investigate if its possible to re finance and pay off my loan on our PPOR and transfer the loan over to the IP? This would obviously help with tax reasons and would be debt free with our PPOR. I would rather not sell the IP we have as…[Read more]

]]> 8e0343ebb5f9e5145da7061e2e3e48d4 cmason replied to the topic No tenants in the forum Help Needed! https://www.propertyinvesting.com/topic/4401927-no-tenants/#post-4636456 Thu, 18 Nov 2010 22:29:16 +0000 god_of_money wrote:
Looks OKbut why not advertise with domain.com.auor realestate.com.au

Looks like it is on both:

http://www.realestate.com.au/property-house-vic-st+albans-404831736
http://www.domain.com.au/Property/For-Rent/House/VIC/St-Albans/?adid=6773976

]]> d4211e0265a97012078f9b7b0e2bc622 cmason replied to the topic No tenants in the forum Help Needed! https://www.propertyinvesting.com/topic/4401927-no-tenants/#post-4636441 Thu, 18 Nov 2010 04:19:37 +0000 SQM suggests vacancy rates in St Albans are around 1.6%

http://www.sqmresearch.com.au/graph_vacancy.php?mode=p&postcode=3021&t=1

]]> 7a2b3f01096b7db49ccd54b4b575dcd4 cmason replied to the topic What website is it? Please help. in the forum Help Needed! https://www.propertyinvesting.com/topic/4401882-what-website-is-it-please-help/#post-4636159 Sun, 14 Nov 2010 22:54:49 +0000 This website does both of those:

http://www.refindhouseprices.com/

]]> 6b89118988f50ab085fa72c045b69bee cmason replied to the topic Downside of Cross Collateralised Loan in the forum Yes there are problems if https://www.propertyinvesting.com/topic/4401769-downside-of-cross-collateralised-loan-2/#post-4635492 Thu, 04 Nov 2010 21:09:14 +0000 Yes there are problems if the loan defaults both properties are in the mix also if you want to sell the original property you might have difficulty refinancing the 2nd property to stand alone or be up for LMI if the equity of the first property was used as a deposit.

]]> af1efe3f311989e6881f12e73beba808 cmason replied to the topic Benefits of buying a property through a Family Trust in the forum Help Needed! https://www.propertyinvesting.com/topic/4401005-benefits-of-buying-a-property-through-a-family-trust/#post-4630677 Thu, 26 Aug 2010 05:24:21 +0000 JacM wrote:
I think you'll find that to avoid the CGT, you will have to be living in the house when you sell it.  The 6 year rule merely means you have 6 years to move back in to do this tax dodge.  However if you've moved to another house and declared it your PPOR, and turned the first house into an IP, then you will not be selling CGT f…[Read more]

]]> 4294b71c20a0927b71e37ce2a1eb6f36 cmason replied to the topic Line Of Credit in the forum Finance https://www.propertyinvesting.com/topic/4400921-line-of-credit-17/#post-4630113 Tue, 24 Aug 2010 22:37:11 +0000 House Call wrote:
Now that bit I do not understand.  I thought rent going into the LOC was a good thing because my interest bill goes down as balance falls (effectively "parking" money there).  Can you explain an offset account, then?  I thought it is a positive bank balance account where the interest earned goes against your loan interest, bu…[Read more]

]]> 42fd16aa2d8343f75563708bad211caf cmason replied to the topic Line Of Credit in the forum Finance https://www.propertyinvesting.com/topic/4400921-line-of-credit-17/#post-4630111 Tue, 24 Aug 2010 21:22:28 +0000 House Call wrote:
good thing there is not all that much "spare money"! lol  (lots of kids and cars and o/s holidays takes care of that)

Think Terry was refering to the rent should be going into your offset and not into the LOC

]]> 490d0335c39b6bdfca4c815a235d4d11 cmason replied to the topic CGT 6 year absence exemption in the forum Help Needed! https://www.propertyinvesting.com/topic/4400973-cgt-6-year-absence-exemption/#post-4630551 Tue, 24 Aug 2010 01:47:06 +0000 Thanks for the replies, clears up what I was thinking

]]> b50d4b299f8ca84e0dc49fef0d9c7d4f cmason replied to the topic CGT on IP if you are not working in the forum If your gain after the 50% https://www.propertyinvesting.com/topic/4400959-cgt-on-ip-if-you-are-not-working/#post-4630339 Tue, 24 Aug 2010 01:45:25 +0000 If your gain after the 50% discount is $50K then you would be taxed the amount a person earning $50K would, which would be about $8550 – 15c in the dollar from $6K to $37K then 30c up to your $50K

]]> 9340b15948c91523527abfc3f63350a7 cmason replied to the topic CGT on IP if you are not working in the forum Yep you would still have to https://www.propertyinvesting.com/topic/4400959-cgt-on-ip-if-you-are-not-working/#post-4630335 Mon, 23 Aug 2010 03:14:20 +0000 Yep you would still have to pay CGT but it would be the best time to sell as your gain would be taxed at the lowest rate

]]> 449cb23cc160242b9ff6e3946e20ac3d cmason replied to the topic Tax Question on IP in the forum Help Needed! https://www.propertyinvesting.com/topic/4400927-tax-question-on-ip/#post-4630151 Fri, 20 Aug 2010 05:32:52 +0000 No Stamp duty when transferred between spouses in Victoria

]]> 17d8db844cd3b8c080e8a20aeea8bccf cmason replied to the topic Am I in a position to buy our first investment property? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400912-am-i-in-a-position-to-buy-our-first-investment-property/#post-4630052 Wed, 18 Aug 2010 22:18:57 +0000 Capital growth is slower in regional Vic but you can buy a near new/or new 3-4 Bedroom house for around $300-350K which will give you high depreciation. Also there are a fair few properties where the rental yield is pretty good and the vacancy rates are below 2%, we are currently looking in Bendigo, Ballarat, Wodonga and Geelong probably just…[Read more]

]]> 6623ec4715cc3bb2a6674f64c691ef05 cmason replied to the topic Investing Interstate - Exaggerated Stamp duty ?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400896-investing-interstate-exaggerated-stamp-duty/#post-4629978 Tue, 17 Aug 2010 01:11:34 +0000 Not sure about NSW but certainly with Vic investors pay more Stamp duty because of the PPOR concession

]]> d40915f6bf07d0500e828dfaf5e9c75b cmason replied to the topic Do i need a deposit? in the forum Help Needed! https://www.propertyinvesting.com/topic/4400857-do-i-need-a-deposit/#post-4629759 Fri, 13 Aug 2010 01:17:25 +0000 To avoid Lenders Mortgage Insurance(LMI) a state which the Lender is happier releasing equity you need to be at or below 80% Loan to Value Ratio(LVR). Currently if your property is estimated to be worth $320K and you owe $240K then your LVR is 75% meaning you could comfortably use around $16K of your equity without going over the 80% and incurring…[Read more]

]]> ea9b4b3eb1f3d92a58d7ada870633057 cmason replied to the topic Deposit Finance in the forum Finance https://www.propertyinvesting.com/topic/4400834-deposit-finance/#post-4629624 Wed, 11 Aug 2010 00:42:41 +0000 Was discussing this with my lender yesterday, they don't have the concept of a Line Of Credit, for investors like myself what they do is create a standard IO loan draw down the funds and dump it in the redraw for you to use as you need, would this situation be different because the funds are put in the redraw instead of an offset?

]]> 7346170fdb4554ffa9d52f51f873cb75 cmason replied to the topic Depreciation in the forum Help Needed! https://www.propertyinvesting.com/topic/4400775-depreciation-25/#post-4629356 Wed, 04 Aug 2010 21:45:24 +0000 best to get a depreciation report done by a depreciator they will go trough the whole property and determine what is depreciable and for what length of time and put together a report of depreciable assets for the coming 7 or so years

]]> f5d31eb1d22322eecafaacd38909b8c3 cmason replied to the topic Buying/Selling without using a Real Estate Agent in the forum Help Needed! https://www.propertyinvesting.com/topic/4400774-buyingselling-without-using-a-real-estate-agent/#post-4629350 Wed, 04 Aug 2010 21:41:30 +0000 Hi JoshDefinitely no need for an agent if there is already a buyer. I sold my own property a couple of years back and the hardest part was getting people to your property and negotiating. So the first of these is done you just need to do the second. I'd suggest you offer asking price minus half of agents fees so that the buyer and the seller…[Read more]

]]> a6683bcff35eb2e00734e2afb693d6af cmason replied to the topic LOC verses Interest only with offset in the forum Finance https://www.propertyinvesting.com/topic/4400749-loc-verses-interest-only-with-offset/#post-4629206 Tue, 03 Aug 2010 22:33:54 +0000 Thanks Terryquestion with the LOC, how do the repayments work I see some places saying no regular repayments are required as long as it doesn't go over the facility limit, but other places saying a minimum repayment is required. Also in the case no regular repayment is required I'm assuming the interest just gets deducted from whatever credit is…[Read more]

]]> d1fb1c19a76b3f2f8863bb21dd952986 cmason replied to the topic LOC verses Interest only with offset in the forum Finance https://www.propertyinvesting.com/topic/4400749-loc-verses-interest-only-with-offset/#post-4629204 Tue, 03 Aug 2010 09:27:22 +0000 I think I might be mis-understanding the concept. The 2 scenarios were:1. setup an LOC lets say for example $100K2. take out an interest only loan of $100K using equity and put that $100K into an offset account attached to the new interest only loan until the funds are needed and withdraw from the offset account when required.In both scenarios…[Read more]

]]> ff28fa6de34e4dbf0cb8618595da731f cmason replied to the topic LOC verses Interest only with offset in the forum Finance https://www.propertyinvesting.com/topic/4400749-loc-verses-interest-only-with-offset/#post-4629202 Tue, 03 Aug 2010 06:57:48 +0000 Thanks TerryMy broker was mentioning an Interest Only investment loan with an offset account to access the equity as opposed to using an LOC so just wondering what the difference/benefit isfor each.

]]> 839dbcf3357e9b31944bda654a0ee263 cmason replied to the topic LOC for maintainence and repayment surplus in the forum Finance https://www.propertyinvesting.com/topic/4400682-loc-for-maintainence-and-repayment-surplus/page/2/#post-4628780 Tue, 03 Aug 2010 03:27:44 +0000 Intrigue wrote:
Stupid question. If I have 10,000 sitting in an offsett account for a loan of $300,000 @ 6.54.How much interest am I saving as a result of having this 10k sit there? Is it as simple as 6.54% of $10k equals my savings each month?

My understanding would be that your monthly savings would be 1/12 of 6.54% of 10K

]]> 1fd5754da096d1845219a60cbee9a68e cmason replied to the topic LOC for maintainence and repayment surplus in the forum Finance https://www.propertyinvesting.com/topic/4400682-loc-for-maintainence-and-repayment-surplus/#post-4628762 Wed, 28 Jul 2010 05:28:49 +0000 OK, we plan on living in this house for the next 20 odd years(until the kids leave) and hopefully will pay the loan off within 10-12 years(quicker the better) and have no plans in renting it out, will it still be a problem?My lender had this on thier website:An offset account is a feature of some mortgages. It is a savings account attached to the…[Read more]

]]> a77dc40bd8ba4dd05382609c86498954 cmason replied to the topic LOC for maintainence and repayment surplus in the forum Finance https://www.propertyinvesting.com/topic/4400682-loc-for-maintainence-and-repayment-surplus/#post-4628760 Wed, 28 Jul 2010 05:11:14 +0000 Thanks Terry for your advice. At first we didn't quite understand too much about cross colaterallising so certainly will not be crossing anymore just hope we can sort out what we have at the moment to allow us to proceed with obtaining our next IP.Thanks for the idea regarding the offset. Our lender doesn't have an offset as such but the y have…[Read more]

]]> 6509a381d4f055b03f89d44e22f7c893 cmason replied to the topic Real Estate Agents Fees in the forum General Property https://www.propertyinvesting.com/topic/4400632-real-estate-agents-fees/#post-4628471 Wed, 28 Jul 2010 05:02:37 +0000 Hi LobsterWe self manage one of our IP's as it is within close proximity of where we live. We have managed this property for 7 years now had a couple of issues ealier on but have had the current tenant for 5 years and she would go close in my books to the perfect tenant. In the end if the IP is within close proximity I think it is worth self…[Read more]

]]> 93b5051fa89d1096cc3cf9cba35a5a80 cmason replied to the topic LOC for maintainence and repayment surplus in the forum Finance https://www.propertyinvesting.com/topic/4400682-loc-for-maintainence-and-repayment-surplus/#post-4628758 Wed, 28 Jul 2010 03:31:52 +0000 Thanks TerryMy thinking would be that rent would be piad into the LOC and interest payments from our Interest only investment loan would also be taken from the LOC. Might have to read a bit more about the concept, would like to see if I could use the same LOC for multiple investments.Starting to undestand this cross collateralising more, my…[Read more]

]]> d28d06ad7766cdd28e612e844ce65899 cmason replied to the topic LOC for maintainence and repayment surplus in the forum Finance https://www.propertyinvesting.com/topic/4400682-loc-for-maintainence-and-repayment-surplus/#post-4628756 Tue, 27 Jul 2010 23:12:26 +0000 Thanks karen will buy the API and have a lookHave been doing a little bit more reading of threads on this forum and it seems our loans are cross collaterallised as recommended by our Mortgage broker to reduce the LVR to 80% and avoid LMIMy question now is what is the alternative to this and if we want to buy another IP are we going to have problems?

]]> e35f20fc951b08e7acbb49afc0207eab cmason replied to the topic Lump Sum over Extra Repayment in the forum Thanks RichardJust another https://www.propertyinvesting.com/topic/4399178-lump-sum-over-extra-repayment/#post-4619712 Wed, 17 Mar 2010 23:25:05 +0000 Thanks RichardJust another question, always hear about paying fortnightly is a lot better than paying monthly. Reading up about it a fair few sites say the only benefit is if you divide your monthly repayment by 2 and pay that fortnightly effectively forcing you to make extra repayments(approximately an extra month's payment over the year).My…[Read more]

]]> 1c00fd2a448fb66e0b4bf355bfbaa760 cmason replied to the topic Renting a property from the vendor before settlement date? in the forum Help Needed! https://www.propertyinvesting.com/topic/4397919-renting-a-property-from-the-vendor-before-settlement-date/#post-4611955 Fri, 27 Nov 2009 05:09:00 +0000 Yeah my Mum done the same thing. I believe she had it written up in the contract that for a certain period before settlement she would rent the property for a certain amount of dollars per week

]]> 9839375e294df3cdaf12c30cb1e0dc2c cmason replied to the topic Claiming pest inspection cost when not purchasing. in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4397249-claiming-pest-inspection-cost-when-not-purchasing/#post-4609075 Tue, 17 Nov 2009 00:21:29 +0000 My thinking was that building/pest inspections were not tax deductible whether you end up purchasing the property or not, WJ Hooker are you saying you are able to claim inspection costs in you purchase the IP??

]]> 6c3dc2593cacc44444b6018654798ab9 cmason replied to the topic Water Usage - Getting Tenants to Pay in the forum General Property https://www.propertyinvesting.com/topic/4397666-water-usage-getting-tenants-to-pay/#post-4610958 Mon, 09 Nov 2009 02:29:58 +0000 deirdre browne wrote:
anybody know who pays water usage and rates in melbourne rental properties – is it the landlord or tenant?

In Victoria in a set of flats/units/town houses where there is not a separate water meter per unit the landlord is responsible for paying for rates/service charges/usage. If there is a separate water meter per unit or…[Read more]

]]> 79ac8a2324b9ffc4343d1671672abce1 cmason replied to the topic Bad neighbours in the forum Help Needed! https://www.propertyinvesting.com/topic/4397639-bad-neighbours/#post-4610845 Tue, 27 Oct 2009 22:12:18 +0000 Do you have a body corporate if so you should be able to find out from them if the unit is owner occupied or rented. If it is rented you should also be able to find out the Real estate agent then you can submit a complaint with them. I think thats all you can really do it is up to the agent/landlord whether they kick them out, if they are owners…[Read more]

]]> 0d018ab458c121b37ad9f41422979fcf cmason replied to the topic Tenant / Landlord Issue in the forum Help Needed! https://www.propertyinvesting.com/topic/4397567-tenant-landlord-issue/#post-4610454 Tue, 20 Oct 2009 00:48:20 +0000 Section 213 and 213A of the RTA seem most relevant to your situation:http://www.austlii.edu.au/au/legis/vic/consol_act/rta1997207/index.html#s86Was the security deposit submitted to the Bond authority? If so(as it should) I believe you need to submit an application for some of that bond to come to you for rent in arrears

]]> b4a99443f33a5d56bb227832b2b601ab cmason replied to the topic Landlord question - is a verbal agreement and one months rent binding? in the forum Help Needed! https://www.propertyinvesting.com/topic/4397461-landlord-question-is-a-verbal-agreement-and-one-months-rent-binding/#post-4610039 Thu, 08 Oct 2009 01:00:14 +0000 My guess is that it is not binding until the tenancy agreement is signed, I would have thought that would be signed with the collection of the bond.Best place to look would be the RTA which you can find here:http://www.austlii.edu.au/au/legis/vic/consol_act/rta1997207/index.html

]]> 11e4f4187dce0ae004ef4fdb5203fdd7 cmason replied to the topic The Inspiration/Motivation Thread - Tell your story! in the forum Opinionated! https://www.propertyinvesting.com/topic/4397430-the-inspirationmotivation-thread-tell-your-story/#post-4609932 Tue, 06 Oct 2009 05:51:53 +0000 Hi, am also a new poster and have found some very useful tips and hints on this site.My wife and I bought our first property in 2001 a 2 Bedroom townhouse for $100K as our PPOR. We lived in it for 2 years then it was getting too small so bought a 2nd property a 3 Bedroom house for $260K. We moved into this property and rented out the…[Read more]

]]> 68a6a27e311c28a742fc5662c9ece9bf cmason replied to the topic Newby Investor - Finance Structure Confusing in the forum Finance https://www.propertyinvesting.com/topic/4397444-newby-investor-finance-structure-confusing/#post-4609983 Tue, 06 Oct 2009 05:17:20 +0000 My guess would be that it would be 4 loans:1. Std P&I (with offset) for PPOR, 2. Other Equity Manager for deposit and costs & 3. Equity Manager which is used for deposit of IP 4. IP loan (Interest only)The interest on loan 4 is tax deductible.I done something similar to this except I didn't want to have the Equity loan hanging about after purchase…[Read more]

]]> 10a40e29b03d3ab4e29d63e3b8b02f51 cmason replied to the topic The other side in the forum Help Needed! https://www.propertyinvesting.com/topic/4397431-the-other-side/#post-4609945 Mon, 05 Oct 2009 23:31:20 +0000 This just doesn't seem right, firstly that the rent increase was given during a lease period, secondly that it was 30% that seem's a lot and lastly that when you pointed her to the RTA she issues a notice to vacate.Just wondering if anyone knows much about this section 263 "notice to vacate for no specified reason"? I find it interesting that they…[Read more]

]]> 6d370cf0397908923d501e4de874b7ef cmason replied to the topic Any no monthly fee Business Bank Accounts? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4397419-any-no-monthly-fee-business-bank-accounts/#post-4609889 Mon, 05 Oct 2009 23:10:14 +0000 Does it need to have the tag "Business Account"? NAB have eBanking account which if you deposit at least $2,500 a month there is no monthly fee

]]> 256933d30631177bf98cb7814910f3dc cmason replied to the topic Gum Trees in the forum Help Needed! https://www.propertyinvesting.com/topic/4397418-gum-trees/#post-4609887 Fri, 02 Oct 2009 05:51:27 +0000 Not too sure who is responsible to remove a fallen tree, sensibly I would think the owner of the tree but legally it could be different

]]> acf655e624424df09691ebf1f02d6dd0 cmason replied to the topic Gum Trees in the forum Help Needed! https://www.propertyinvesting.com/topic/4397418-gum-trees/#post-4609885 Fri, 02 Oct 2009 05:40:51 +0000 I would contact the local council to find out who own's the block the tree is on. Also I believe they would need to approve it being cut down anyway.

]]> b670d58abe995fe230e1b4f380b94706 cmason replied to the topic Depreciation Schedules in the forum Help Needed! https://www.propertyinvesting.com/topic/4397414-depreciation-schedules-3/#post-4609874 Fri, 02 Oct 2009 05:07:34 +0000 I recently had a depreciation report done for a property which we bought in Launceston by Washington Brown. As we had just bought the place we had nothing to provide them with in regard to receipts or dates of purchase of items. 3 or 4 weeks later we recieved a comprehensive 14 page document with 11 or 12 depreciating items(which I thought was…[Read more]

]]> 2ceeaf11c287b552661d18ed59d7ea5f cmason replied to the topic FREE Residex Property Reports for VICTORIAN, TASMANIAN, and SOUTH AUSTRALIAN properties - Investment or Owner Occupied in the forum Value Adding https://www.propertyinvesting.com/topic/4396010-free-residex-property-reports-for-victorian-tasmanian-and-south-australian-properties-investment-or-owner-occupied/page/8/#post-4602651 Thu, 01 Oct 2009 00:29:40 +0000 Hi MikeThanks for those reports very informative.ThanksChris

]]> c23800ea54fc0a2c3077abe971372dfb cmason replied to the topic Raising rent in the forum General Property https://www.propertyinvesting.com/topic/4397336-raising-rent-2/#post-4609416 Wed, 30 Sep 2009 05:59:02 +0000 My view is if you find a good tenant then look after them with rent as it is very difficult to find good tenants these days, that pay thier rent on time consistently, not trashing the place, not having massive parties.One tenant I have has been in the property for 5 years has not missed a rental payment, rarely calls me for anything I have to call…[Read more]

]]> 588b3fdd2fa730de179e3c232cedb682 cmason replied to the topic Analyst tips back to back rate rises in the forum General Property https://www.propertyinvesting.com/topic/4397393-analyst-tips-back-to-back-rate-rises/#post-4609805 Wed, 30 Sep 2009 03:48:13 +0000 Yep its looking more and more likely that they will rise before the end of the year. We have had it pretty good for the past 12 months or so with the last rise I think in July last year. Not everyone is able to but one thing I tried to do(knowing they would come back up eventually) is keep my repayments the same each time the rates went down.…[Read more]

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