Members & Visitors Online Right Now: 71
  • DeanCollins replied to the topic Non APRA rating guidline lenders in the forum Finance 2 days, 6 hours ago

    I checked these two links out

    http://www.rba.gov.au/fin-stability/fin-inst/main-types-of-financial-institutions.html
    http://www.apra.gov.au/ADI/Pages/Default.aspx

    is it just that “banks are govt insured” and “finance companies are not”? or is there something else that differs?

    eg
    “Finance companies raise funds using debentures and…[Read more]

  • DeanCollins replied to the topic Non APRA rating guidline lenders in the forum Finance 3 days, 5 hours ago

    Thanks Richard

    Why does APRA require the big 4 banks to calculate serviceability at 7.5% BUT Latrobe/Pepper Group/Liberty etc don’t need to follow these guidelines?

    TIA,
    Dean

  • DeanCollins started the topic Non APRA rating guidline lenders in the forum Finance 4 days, 7 hours ago

    Which lenders in Australia DO NOT have to follow APRA rating requirements (eg. don’t calculate your lvr based on 7.5%).

    We are in a situation where St George wouldn’t lend on our last property purchase (even though our negative gearing is only around $10k per annum and last year we paid down our loans at approx. $10k per month off the principal)…[Read more]

  • DeanCollins started the topic Capital gains tax changes? in the forum General Property 5 days, 7 hours ago

    Reading this article – https://pfh007.com/2017/02/16/budget-2017-plans-to-cut-the-cgt-concession-not-likely/comment-page-1/#comment-651

    Anyone think if they remove or reduce the 50% discount on housing……that they will still apply the 50% discount for shares and investments other than property?
    (eg only 25% discount on property investments…[Read more]

  • DeanCollins replied to the topic tenant hasnt paid last two gas bills – what to do? in the forum Help Needed! 2 weeks, 4 days ago

    Agree Ethan, we pay good money for PM…..they work for us not the other way around.

  • DeanCollins started the topic Callaghan, Newcastle in the forum General Property 3 weeks, 2 days ago

    Just a heads up that my nephew is starting at University of Newcastle in Callaghan, NSW this month……but that’s not why I’m posting, the reason I’m posting is just been having a chat with him about how hard its been for them to find student accommodation……

    Was really surprised to hear that they are looking at around $180 minimum per week/…[Read more]

  • DeanCollins started the topic Perfect example of why removing Stamp Duty is a terrible idea in the forum General Property 1 month ago

    I noticed that YIPmagazine is pushing the idea of removing stamp duty again……

    Came across this article on NZ and retweeted back to them why its a terrible idea and thought more than a few of you here might agree
    https://twitter.com/deancollins/status/824341625476435975

  • DeanCollins replied to the topic NYC city taxes in the forum Overseas Deals 1 month, 2 weeks ago

    Hi Benny,

    nope….yields in property just plain suck here (though this is my PPOR), because NY City sees property as a cash cow (which is why a lot of people are commuting from bedroom suburbs like NJ and CT etc (think Gosford etc)

    our particular unit is the largest due to combinations of smaller apartments but most of the apartments in the…[Read more]

  • DeanCollins started the topic NYC city taxes in the forum Overseas Deals 1 month, 2 weeks ago

    BTW thought some of you investors in Australia would get a kick out of this and make you feel better about some of your council fees.

    We just completed our New York coop’s expenses spreadsheet for 2016 to send to the accountant. (a coop is like a strata…..but over here the strata pays for city taxes…eg. Council rates not the individual…[Read more]

  • DeanCollins started the topic NYC city taxes in the forum Overseas Deals 1 month, 2 weeks ago

    BTW thought some of you investors in Australia would get a kick out of this and make you feel better about some of your council fees.

    We just completed our New York coop’s expenses spreadsheet for 2016 to send to the accountant. (a coop is like a strata…..but over here the strata pays for city taxes…eg. Council taxes not the individual…[Read more]

  • DeanCollins replied to the topic land tax NSW double taxation? in the forum Legal & Accounting 1 month, 2 weeks ago

    Awesome response Terry.

    Thanks for confirming.

  • DeanCollins started the topic Big end of town get efficient at property management in the forum General Property 1 month, 3 weeks ago

    wow 14% eviction rate per annum…..

    https://www.bloomberg.com/news/articles/2017-01-03/wall-street-america-s-new-landlord-kicks-tenants-to-the-curb

    I know BrickX and other Australian versions of “big end of town SFH property investment” hasn’t penetrated much in Australia but would be interesting to see how this went down in Australia.

  • DeanCollins started the topic New China FX controls in the forum Help Needed! 1 month, 3 weeks ago

    Anyone have any more info about this?
    https://www.bloomberg.com/news/articles/2017-01-03/china-drills-down-into-forex-transactions-as-money-exits-abroad

    Would be great to get some local Chinese news sites with google translations on what people are saying about their decisions.

    Will this finally mark the top of Chinese investment in Sydney and…[Read more]

  • DeanCollins replied to the topic I own a Negative Geared property, what now? in the forum Help Needed! 2 months, 2 weeks ago

    Selling the property now is terrible advice.

    You will just end up paying entry and exit costs twice.

    Firstly, are you getting market rent?
    Secondly, are there any small and cheap renovations you can to do the property to increase the rent? (dishwasher/new paint etc)
    Thirdly, if I knew what you know now at 22……I’d be ecstatic, you are way way…[Read more]

  • DeanCollins started the topic Westpac profit gouging in the forum Finance 2 months, 4 weeks ago

    Wow talk about profit gouging.

    5 year fixed from Westpac went from 3.99% last week to 4.59% today???

    Seriously a 0.6% move??

    I’d be super pissed if we weren’t already locked in, that’s crazy talk and a ridiculous profit gouging move? Cant believe they are going to be selling much business in the next few months at this rate.

  • DeanCollins started the topic Bank of mum and dad in the forum General Property 3 months ago

    Only going to end in tears…..

    http://www.smh.com.au/business/banking-and-finance/nab-and-westpac-say-more-parents-guaranteeing-kids-loans-20161122-gsut7a.html

    I cant understand how people aren’t needing to cut back on spending on holidays/tv’s/new cars etc based on how expensive Sydney properties are getting.

    Unless while i wasn’t looking…[Read more]

  • DeanCollins replied to the topic Residential IP fractional ownership insights? in the forum Creative Investing 3 months, 1 week ago

    I can only talk about BrickX as its the only one I’ve looking into.

    Seems like a well run group however a things I cant get past……
    1/ Their PM fees seem very high
    2/ Their “pre-purchase” structure seems prone to abuse
    3/ their entry and exit costs are high’ish’ (though no worse than stampduty/agents fees etc etc BUT bricks and mortar…[Read more]

  • DeanCollins replied to the topic How will a Trump Presidency affect Australian real estate values? in the forum General Property 3 months, 1 week ago

    Depends on what you think he does with Chinese and the threat of tariffs (this is going to have the biggest affect on Australian economy).

    This said money is getting a lot more expensive here in the USA, some people are saying bonds are oversold on the rapid move….but I’m not sure, I expect to see a lot of inflation here in the USA over the…[Read more]

  • DeanCollins replied to the topic Strata Records? in the forum Help Needed! 3 months, 2 weeks ago

    Thanks for the link to the regulations Terry.

    Unfortunately they seem to tell you about the “apartment” but not really where the money is going and why the strata fees are high.

    But next time I get a strata manager tell me they don’t want to provide any info i’ll send them a form letter asking for the minimal amount and quote the regs just so…[Read more]

  • DeanCollins started the topic Strata Records? in the forum Help Needed! 3 months, 3 weeks ago

    Do Strata Managers have to give access to records to prospective purchasers?

    I’ve had a situation where I am about to bid on a property but am concerned as to why the strata fees are about $200pq higher than they should be for a building of this size/age.

    When I asked for a copy of the last two years records the strata manager has refused to…[Read more]

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