Well! The owner must be right so there! Beware….. I would run a mile with my barge pole dragging behind me if they had no proof, no proof was obtainable and there looked like major structural infestation. Are you able to tell or find out from the general era the house was built as to whether they would have used steel? Just for more info for you…[Read more]

Hahaha 3 dollars!!! Sorry I'm still laughing! Wow I could think of about a million ways I could get $3 Hell I reckon I could walk up and down the street and get more than that! What a waste of really everything!D

Hi,I don't think you are displaying poor form. Any reasonable person would have the expectation of the vendor either repairing the damage or if they choose not to then discounting the property to offset the cost of repairs. It is your first purchase and it is a pretty steep learning curve. Remember if you don't ask you don't get. If the vendor…[Read more]

Cop that! What BS! Hope they stooge you on your payment you eel!D

Hi,Can you delay settlement? You may have to pay the vendor but this may save you many dollars later. If your accountant is any good they should be able to set something up for you reasonably quickly (week or 2) If you search on the forum you will find other posts on transferring between u and a trust/co/etc and it will cost you a bomb! Good Luck, D

Great job Mike! The great thing is that you have thought it through and have made a decision to buy, which is more than most people do ever! I hope you keep us posted in your progress to hardcore property investor. D

Hi Andrew, Have to say they sure do suck! I could tell you stories about the NAB that would make your hair curl but yet again I will go cap in hand to them or anyone else who will lend me money. By the way you cannot actually transfer (via direct debit) to the NAB from any other bank (no you cant I really have tried and wasted part of my life…[Read more]

Hi Karen,I like the house of cards bit! If you have done the worst case scenario, written it down and figured out how you would cope, if you would cope and you can live with it then go for it. Most people are going to be conservative, especially with houses, money, women who choose to stay at home and do whats best for their kids etc. If the…[Read more]

Hi,Ron Forlee has two books about property development. There are some others on businessmall.com.au. API small development guide is ok too. It is worth googling architects and development companies to get more information. You can always call them and start getting estimates for drawings etc. Hope this helps.D

If you are not subdividing then I can't see why they would have a problem especially since you would be moving in well and truly after all loan settlement would take place. D

Hi,Have you checked with the local council as to if this is something that they allow/are happy with? I thought local council generally frowned on people living in a caravans etc behind houses. But if they don't care and the tenants are fully aware that you (the landlord) lives within sight over the back fence then hey if it works for you go with…[Read more]

Chloe,Plenty on here and plenty of great information too!D

Yeah I think the problem is there is no problem. The economy really is fine so there is no reason to keep rates low. This was the economic slowdown that only happened because the government wanted it to, and the banks caused it. So thanks banks and thanks K-RUDD for fixing something that wasn't really broken. (just my 2 cents oh wait 1.55 cents)D

Hi,Got Foxtel? Margaret Lomas LOVED Melton on this weeks Your Money Your call. Was that you "Michael"? So how many properties does you FP have? 5? 10? 20? 1? You do not need to sell to use capital gain if you structure correctly. You have a company, you lease your PPOR off your company. Market rent, deductions etc. (This is what I have understood…[Read more]

Oh MY GOD! So do I and aren't they totally a piece of B*&^%H&T! Used to have a mortgage with them, almost partied when we went through ST George then they bought ST George ARRGGHH! Ahh banks they just do suck! D

Yeah Richard  I think we'll give you a bell next time we are up for more money, even just as a comparison coz I think we have reached the limit of our current MB's knowledge. I started using the words commercial and medium density development and her voice got just a touch nervous! It's good to see there are brokers who have their own investments…[Read more]

Yeah tell me about it! The good part about the broker is they do pretty much everything but sign for you once it is all set up.D

I think the more the better with paperwork. 6 mths should be ok. If you get paid into both accounts take both statements. BTW start keeping everything! You will need to start keeping all documents for when you have your IP. Hope this helps.D

Well how inconsiderate of you TheBish! How are THE BANKS supposed to get filthy rich? Have you considered their needs at all? They had some sort of financial crisis y'know (of their own causing)! How are they supposed to post billions of dollars in profit if we don't support them? Well I plan to do my part and fork over as much as I can in hidden…[Read more]

Yeah the idea behind gaining equity is to not sell and use the equity as a deposit on the next one, meaning no cash upfront. Do you need to pay out other loans or something?