While each and every person has a different situation, if you are going to sell a house that is your primary place of residence (PPOR) then you will not pay any capital gains tax on the sale, subject to a few criteria.  No trusts required for that step, however if you're going to keep it, that's another matter.  You have many many variables h…[Read more]

Some lenders will look at your earnings history (more than the last few payslips) and potentially lend to you on your merits, however you have to be able to show that you have been, and will likely continue to, earn a similar amount of money.  Casual employees are less secure than full timers, therefore the banks will tend to take a more cautious…[Read more]

By the looks of things, you would be making about 5% profit on the gross investment over a period of 6+ months – if you could find a way to lock in the profit, then maybe, otherwise I would say that $18k profit for the level of effort and risk may not be worth it for you.  Not sure if it's my warped sense of money (open to comments here!).  D…[Read more]

It's important to get the title particulars correct – you mentioned that the land was in your fiance's name before the subdivision – am I right in saying that's still the case now?How did her mother contribute the $90,000?  Was it a cash contribution or did she borrow it?  If she borrowed it, was she joint on a loan, or did she use other equity i…[Read more]

Yup, very relevant here….

Mathematically, it works out the same as either way, you have money sitting off a mortgage.  Where it matters is what you do with that money, and the tax treatment of that.I'd stick with the Offset account as it gives you the greatest amount of flexibility.  Most loans that we've set up for clients have both offset and redraw, so if you need to p…[Read more]

Hi Jacksson,To fix or not to fix… that is always the question that will never have a complete and accurate answer.  The best to time fix is when it does not seem like the best time to fix – ie, when there is still downwards momentum in interest rates.  As soon as anyone gets a whif that rates may go up, long term fixed rates start climing.  An…[Read more]

If you have a fixed price building contract that the bank and valuer can see, they will potentially give you a percentage of the costs to build the property.  They will look at what the end value of the property would be and asses it based on that.  So if you're going to spend $200k building, but it only adds $180k of value, then you'll get l…[Read more]

Hi Jack,The main difference, from my perspective, between a solicitor and a conveyancer is the duty of care that they operate under.  A solicitor has a higher duty of care to their client than a conveyancer and will usually charge a litle more.  A great conveyancer is just as good as a Solicitor, and definately better than a bad Solicitor.Just s…[Read more]

Dave is spot on, you need to allocate some of your income to rental management fees.  Also, don't forget to allow for:- Maintenance, you mentioned that they are rennovating the lobby, so it can't be a new building.  A little bit of pumbing or electrical can add up over time.- Bank fees – you may have some bank fees on you mortgage- Potential i…[Read more]

Would love to help – not quite sure what we can do however, so let me know.  I'm not a broker, but we have brokers working here.

Try contacting this guy… great source of up to date and accurate information – I use him a lot:Stefan DeffertGroup Director Level 5, 34 Queen StreetMelbourne  Victoria  3000 T  +61 3 8610 3900F  +61 3 8610 3999http://www.structuredco.com.au  For reference, I have no association with this company other than I am also a client.

Ah, the old days.In the past, before we were in the mess that we find ourselves today, there were a very small amount of people that could get access to the kind of money that you were talking about.  However, with things the way they, it just does not exist I'm afraid.  Even those that used to have it can't get it any more.  Keep in mind ho…[Read more]

Well done Chris – great step towards a great future.  Just be careful not to over extend yourself.  I think you'll find most people on here will advocate a conservative approach – keeping yourself safe is very important.Just keep reading through the posts and topics on here, there is sufficient information on here to learn just about ev…[Read more]

Got someone good in St Kilda (Queens Rd, nr the city actually).Would that work?

Hi Jake,It call comes down to the maths really.  If you can't find the property that you want in your own town, then find one that will get you as close to possible for what you want.  Then, sit down and do the sums.  Weigh up what it will cost you, add in the FHOG etc.  Then compare it to a property that you would like to buy (providing such a p…[Read more]

You mentioned you had picked Brisbane or Melbourne – any particular reason for those two cities?  Is it cost or your bestion opinion based on research?

Will you require immediate cash flow (ie, rent as soon as you buy the property) or can you sustain mortgage payments for a period of time (which means you can either build or renovate a property t…[Read more]

You mentioned you had picked Brisbane or Melbourne – any particular reason for those two cities?  Is it cost or your bestion opinion based on research?Will you require immediate cash flow (ie, rent as soon as you buy the property) or can you sustain mortgage payments for a period of time (which means you can either build or rennovate a property t…[Read more]

If you're still interested in what they have to offer, hear them out and then post the details back here – you're certain to get solid feedback from other posters here who have as good as or more experience than the people you are talking to.  Additionally, property is always about research, research research.Then, you can base you decisions…[Read more]

PosEnterprises wrote:
Thanks DiggerJust not sure how to buy over East – don't know how the settlement process works over there compared to WA. 

What state are you looking to buy in?  Then we can let you know the settlement process Some buying groups or buyers agents are good to buy through, however it's best to do heaps of research and talk t…[Read more]