As a rule, never buy someone elses problems. Unless you know how to deal with them better than they do and can profit from it.My guess is you don't know how to deal with it better than the previous owner. And the deal is not a bargain, or you would have stated it as such.Walk away, there will always be another one.

I still say give it a go for a few weeks. They are using you, make sure you use them. Ask lots of questions, milk the training, talk to as many potential clients as possible. Hassle the Directors and other sales folks for information, constantly. Hell, be a nuisance, treat the place like your own personal library or university. Most importantly,…[Read more]

I went to C&N a few years back for one of these expensive assessments. IT was interesting, but I really got little out of it that I could use. They were pushing the HDT as a "PIT – Property Investment Trust" that had special terms that only they knew about. I never really believed, so didn't do it. I spent $395 with C&N to learn what I didn't want…[Read more]

Consulted with my broker at length and I have a way forward I am comfortable with. I have two options, neither come with a guarantee, just a degree of probability based on the private valuation I get;Once the strata title is accepted and processes by the bank I can;1) Apply to create a new LOC account. This triggers a bank valuation on each of the…[Read more]

Thanks Marjac. Your experience helps.I am doing this exercise to make equity available in the property. If the valuation shows that the 3 villas I own (single title) are worth more on the market as 3 separate, strata titled units, I can make an assessment about if the exercise is worth doing.However, one thing remains unclear to me. Will the bank…[Read more]

A related question – Is the private valuation expense tax deductible?Perhaps as a borrowing expense?

Thanks guys. I found a similar piece of advice by Terry on another thread. Basically ask for the "what if" valuation and ask the valuer which lenders they can value for. My broker is a Flame Dragon broker. Puts them at the top of the broker list AFAIK. Region is Shoalhaven. Not huge. Probably 4-5 main valuation firms. 3 of which I am pretty sure…[Read more]

Minor detail – Positive gearing (post heading) and positive cashflow (first post content) are two different things. Although, the latter can certainly turn into the former over time. Which many of us hope.You listed Margaret Lomas, so I assume you are referring to positive cashflow.I guess it depends on how you define "top 10". The "top 10" by…[Read more]

I would take a very close look at the fine print of that contract to see exactly when and under what circumstances your commission would be paid. Perhaps also what liability you have if a deal goes bad. Just in case the company is dodgy. (Note: I am not saying it is, but forewarned is forearmed.)If it seems remotely reasonable, take the job and…[Read more]

With that attitude, I say, "Go for it mate!". Take your big risks early, while you are young, and don't be afraid to fail catastrophically. You haven't got much to lose, so you may as well lose it now or win big. (I know this sounds totally irresponsible, but I am hoping that doesn't matter to you.) Apparently Edison failed with his first 300…[Read more]

Thanks folks, your info has helped me greatly.I spoke to the planning and development folks at the council yesterday. They couldn't be more helpful. They checked the past DA's on my property and found that almost everything needed for the strata (or torrens, if I had 50m2 more land). The cost for the remaining council approvals is $500-1000 in…[Read more]

No takers? I am genuinely surprised.

I am hedging my bets. Across both property and equities. But I don't consider currency gain/loss as a primary focus in my portfolio. More as a secondary consideration next to buying quality assets, which I treat as businesses.Equities only in the U.S. For three reasons;1) I have a good employee share plan and my company is in a growth industry…[Read more]

Interesting stuff. I think this warrants further investigation. You guys are great. Just can't believe the willingness to share advice and help others move to greater success. I am humbled.I did some trawling through older threads on similar topics and I found a couple of people that seem to have used a hybrid approach with great success.…[Read more]

Thanks for the advice guys.No need for the math. If you read carefully, I did mention that I understand this part That said, no harm putting it in for other readers.The simple process you described is essentially the one my broker is proposing. I will wait a couple of months before proceeding as I have a reasonably large tax bill to address…[Read more]

Are you being funny?Essentially want to get the house protected to stop any "potential" termites from getting into the house and eating it.None in there now that we know of. So this is purely proactive maintenance where there is known to be a high risk of termite infestation in the local area as per a pest inspection report.

All phone conversations are recorded now unless you (the customer) choose to opt out.If you know the day and approximate time, they can dig it up and verify. How do I know? Worked for one of the big fellas and help them architect the IT solution behind it.

Variation on this question if I may?I am building my PPOR right now, due to be finished EOY09.Keen to purchase investment property before PPOR is finished building.IO Loan expected to be $500k. (~$210k paid off right now, expect to be up to $230k by EOY09  based on conservative budget estimates)Highest tax rate and enough cashflow to fund the IP…[Read more]

I have a rather simple question;For PPOR loan, any reason why you would choose a redraw facility over a 100% offset? {Or are these effectively the same thing under some circumstances?}Main reason I ask is that this is exactly what I have done and it seems to be working perfectly. Loan is with the CBA under the full wealth package so I am free to…[Read more]