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  • DeanCollins replied to the topic NYC city taxes in the forum Overseas Deals 1 week, 1 day 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 week, 2 days 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 week, 2 days 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 week, 2 days 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 2 weeks, 2 days 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! 2 weeks, 2 days 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! 1 month, 1 week 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 1 month, 3 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 1 month, 4 weeks 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 2 months 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 2 months 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! 2 months, 1 week 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! 2 months, 2 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]

  • DeanCollins replied to the topic Would lenders consider equity from investments abroad? in the forum Finance 3 months ago

    lol try telling CBA about 3.5%+20% exchange……and that’s why they didn’t get my business. :)

    Likewise you are right about St George not knowing what they want and no allowing us to increase our portfolio loan……and that’s why they don’t get our business either. :)

    Westpac took forever to get approved and came back twice to make sure we…[Read more]

  • DeanCollins replied to the topic Would lenders consider equity from investments abroad? in the forum Finance 3 months ago

    @Corey, lol try telling CBA about 3.5%+20% exchange……and that’s why they didn’t get our business. :)

    Likewise you are right about St George not knowing what they want and no allowing us to increase our portfolio loan……and that’s why they don’t get our business either. :)

    Westpac took forever to get approved and came back twice to make…[Read more]

  • DeanCollins replied to the topic Would lenders consider equity from investments abroad? in the forum Finance 3 months ago

    @Colin, Yep we weren’t asking for the Australian banks to take into account our NYC PPOR in anyway apart from repayments which like I said CBA screwed up by insisting on calculating the interest rate at 7.25% when our PPOR loan is a 30 year fixed at 3.5% and no matter what we did to explain that the loan was fixed for the next 28 years and 10…[Read more]

  • DeanCollins replied to the topic Would lenders consider equity from investments abroad? in the forum Finance 3 months ago

    Yep we weren’t asking for the Australian banks to take into account our NYC PPOR in anyway apart from repayments which like I said CBA screwed up by insisting on calculating the interest rate at 7.25% when our PPOR loan is a 30 year fixed at 3.5% and no matter what we did to explain that the loan was fixed for the next 28 years and 10…[Read more]

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

    renovation/repair fees of 1% if a unit, 2% if a house (you actually pay 2% for a unit but the other 1% is sinking fees etc to the body corporate etc).

    I’m assuming this is your first property so under the land tax threshold but also adding in annual land tax payments.

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

    renovation fees of 1% if a unit, 2% if a house (you actually pay 2% for a unit but the other 1% is sinking fees etc to the body corporate etc).

    I’m assuming this is your first property so under the land tax threshold but also adding in annual land tax payments.

  • DeanCollins replied to the topic Poll: Where do you expect the RBA’s cash rate to be in 12 months? in the forum Opinionated! 3 months, 3 weeks ago

    What sort of “Apra” help are you proposing?

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