PropertyInvesting.com | Colin Rice | Activity https://www.propertyinvesting.com/members/fms/activity/ Activity feed for Colin Rice. Fri, 10 Apr 2026 22:55:18 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 b4bbb67c28594e191af2cb71fc2f32ec Colin Rice replied to the topic Landlord's insurance in the forum General Property https://www.propertyinvesting.com/topic/4371772-landlords-insurance-5/#post-5076420 Thu, 05 Aug 2021 06:30:24 +0000 Yep, read your PDS people before committing.

I had Comminsure and went to make a claim after someone tried to burn one of my properties down and was building another house out the back so left the front property vacant until the project was complete. Drove by one day to check progress on the rear build and saw the damage to the front property,…[Read more]

]]> dedbb1d72a46b121d6614fc92db99418 Colin Rice replied to the topic Landlord's insurance in the forum General Property https://www.propertyinvesting.com/topic/4371772-landlords-insurance-5/#post-5076420 Thu, 05 Aug 2021 06:30:24 +0000 Yep, read your PDS people before committing.

I had Comminsure and went to make a claim after someone tried to burn one of my properties down and was building another house out the back so left the front property vacant until the project was complete. Drove by one day to check progress on the rear build and saw the damage to the front property,…[Read more]

]]> 474e10cb9f57a5b2c006f197a350bf99 Colin Rice replied to the topic What is a sleepout? in the forum Help Needed! https://www.propertyinvesting.com/topic/4377314-what-is-a-sleepout/#post-5076417 Thu, 05 Aug 2021 06:02:46 +0000 As a child, we had an enclosed patio out the back and a part of it was made into a room (sleepout) that became mine as it was a better alternative to sharing with my sister. Hot in summer and cold in winter, I loved it though as had my own space and redbacks under the bed and crickets chirping to keep me company.

]]> 8f54b878fdd59980ea3a1684c3d2f9b1 Colin Rice replied to the topic Debt recycling in the forum Finance https://www.propertyinvesting.com/topic/5076364-debt-recycling/#post-5076416 Thu, 05 Aug 2021 05:57:47 +0000 If you are intending to remain in the property as an owner-occupier then it makes sense as you are converting (recycling) non-deductable debt to deductible debt.

You don’t need a LOC as per the reasons mentioned above and a term loan will work as long as you pay the debt down and then redraw the funds back into offset.

]]> bfafa5faaded4202a47d043336e25ad5 Colin Rice replied to the topic Debt recycling in the forum Finance https://www.propertyinvesting.com/topic/5076364-debt-recycling/#post-5076416 Thu, 05 Aug 2021 05:57:47 +0000 If you are intending to remain in the property as an owner-occupier then it makes sense as you are converting (recycling) non-deductable debt to deductible debt.

You don’t need a LOC as per the reasons mentioned above and a term loan will work as long as you pay the debt down and then redraw the funds back into offset.

]]> e90e61b83cfa74a9cd5b8eea2cbc9e70 Colin Rice replied to the topic Financial Freedom Plan work out in the forum Opinionated! https://www.propertyinvesting.com/topic/5067339-financial-freedom-plan-work-out/#post-5076005 Tue, 27 Jul 2021 05:24:50 +0000 As @Geofront already stated why not double down on what you are good at already which is running profitable bakeries.

Is franchising an option and/or expanding your current store location footprint as sounds like you have a sound business model ready to duplicate.

]]> e3b373ac441320c3d81338d39be9c7ab Colin Rice replied to the topic Financial Freedom Plan work out in the forum Opinionated! https://www.propertyinvesting.com/topic/5067339-financial-freedom-plan-work-out/#post-5076005 Tue, 27 Jul 2021 05:24:50 +0000 As @Geofront already stated why not double down on what you are good at already which is running profitable bakeries.

Is franchising an option and/or expanding your current store location footprint as sounds like you have a sound business model ready to dupliccate.

]]> 2041e7680327bc1ad6f4c9f8f0958005 Colin Rice replied to the topic what type of separate title can be done when council and WAPC refuse green title in the forum Help Needed! https://www.propertyinvesting.com/topic/5075775-what-type-of-separate-title-can-be-done-when-council-and-wapc-refuse-green-title/#post-5075976 Tue, 27 Jul 2021 05:05:43 +0000 As mentioned you need to seek professional guidance and not be afraid to pay for it, some good pointers above already.

]]> b8c65377a45971ee4301c34f929cb915 Colin Rice replied to the topic Housing Prices Up in the forum Overseas Deals https://www.propertyinvesting.com/topic/5073912-housing-prices-up/#post-5075965 Tue, 27 Jul 2021 04:55:17 +0000 We got a ways to go I think, especially in the “cheaper” regions of the country.

]]> 1e48605eae3645f9e2b9ef54a4c39682 Colin Rice replied to the topic 32 and planning for retirement what next? in the forum Help Needed! https://www.propertyinvesting.com/topic/5069989-32-and-planning-for-retirement-what-next/#post-5075964 Tue, 27 Jul 2021 04:51:02 +0000 I would consider keeping the Penrith property and borrow against it as @terryw suggested.

Speak with a broker who understands property investment loan structuring first up to see whats possible.

]]> fc26bbddb7c0cdff944bf4a5fb6b3b0a Colin Rice replied to the topic Low credit score finance fell in the forum Help Needed! https://www.propertyinvesting.com/topic/5068957-low-credit-score-finance-fell/#post-5073798 Mon, 28 Jun 2021 04:41:04 +0000 A mortgage broker can get a copy of your file for free IF you engage their services.

This will reveal all and you can then find a suitable lender and if none available you can look at getting it repaired by a reputable credit repair company.

]]> b641b762ec87b96ae1c2f86736d51d80 Colin Rice replied to the topic Low credit score finance fell in the forum Help Needed! https://www.propertyinvesting.com/topic/5068957-low-credit-score-finance-fell/#post-5073798 Mon, 28 Jun 2021 04:41:04 +0000 A mortgage broker can get a copy of your file for free IF you engage their services.

This will reveal all and you can then find a suitable lender and if none available you can look at getting it repaired by a reputable credit repair company.

]]> f1d9783edb2e949ec0ce89fe9c81dca0 Colin Rice replied to the topic Finding a builder / contract management in the forum Help Needed! https://www.propertyinvesting.com/topic/5073765-finding-a-builder-contract-management/#post-5073793 Mon, 28 Jun 2021 04:31:20 +0000 There are building brokers that use the same principle as mortgage brokers where they have a panel of builders to tender that will best suit your project.

Always bear in mind when choosing a professional service 60% are average,  20% are dangerous and 20% are experts, perhaps visit a few to get a feel for the right one.

]]> 7d634013555ce63b8c631cdf829ddef5 Colin Rice replied to the topic Starting to look at QLD in the forum General Property https://www.propertyinvesting.com/topic/5073773-starting-to-look-at-qld/#post-5073791 Mon, 28 Jun 2021 04:25:35 +0000 Check for flood zones and also the cost of insurance.

QLD is currently booming atm and will probably do so for a while yet so don’t leave it too long if you want to get some potential uplift in the value.

]]> 0e585c7e472a6701779a6f2ba8110841 Colin Rice replied to the topic Starting to look at QLD in the forum General Property https://www.propertyinvesting.com/topic/5073773-starting-to-look-at-qld/#post-5073791 Mon, 28 Jun 2021 04:25:35 +0000 Check for flood zones and also cost if insurance.

QLD is currently booming atm and will probably do so for a while yet so don’t leave it too long if you want to get some potential uplift in the value.

]]> ea2ec25ecce7c3fe9dcda2dd80214a61 Colin Rice replied to the topic Receiver in the forum Help Needed! https://www.propertyinvesting.com/topic/5073775-receiver/#post-5073790 Mon, 28 Jun 2021 04:22:55 +0000 I’m thinking in this current market they won’t be sold for an under-market price, could be wrong though?

]]> 532cd7a4758a87e9907dd197b9ba66bf Colin Rice replied to the topic How to use company business income to buy property in another company/Trust? in the forum Help Needed! https://www.propertyinvesting.com/topic/5072128-how-to-use-company-business-income-to-buy-property-in-another-companytrust/#post-5073642 Tue, 22 Jun 2021 09:12:36 +0000 Profits are just that, profits, and can be used for whatever you like.

]]> e007257e1f402f431cac4bc5dcc59e15 Colin Rice replied to the topic Switching ip to interest only assessment in the forum Finance https://www.propertyinvesting.com/topic/5071931-switching-ip-to-interest-only-assessment/#post-5072903 Tue, 15 Jun 2021 07:42:39 +0000 Pre APRA/ASIC was a simple process, now it requires a full-blown assessment equivalent to a brand new application.

Ask a broker to complete a preliminary assessment to see what’s possible and at the very least they can guide you in the right direction if you are not qualifying just yet due to the downturn and being self-employed.

Plenty of…[Read more]

]]> 0ba90bb3d8670ada2fe96d884ed396b3 Colin Rice replied to the topic Switching ip to interest only assessment in the forum Finance https://www.propertyinvesting.com/topic/5071931-switching-ip-to-interest-only-assessment/#post-5072903 Tue, 15 Jun 2021 07:42:39 +0000 Pre APRA/ASIC was a simple process, now it requires a full-blown assessment equivalent to a brand new application.

Ask a broker to complete a preliminary assessment to see what’s possible and at the very least they can guide you in the right direction if you are not qualifying just yet due to the downturn and being self-employed.

Plenty of…[Read more]

]]> bd532f6f12bd7d18d412eb24445d76ca Colin Rice replied to the topic Rentrepreneur in the forum Creative Investing https://www.propertyinvesting.com/topic/5072893-rentrepreneur/#post-5072901 Tue, 15 Jun 2021 07:37:05 +0000 Cant say I have ever heard of it, I do have cash flow properties that are also increasing in value (the golden goose) so I will claim the title :)

]]> f3d8fb572d6c565a43420be7779f30d8 Colin Rice replied to the topic Rentrepreneur in the forum Creative Investing https://www.propertyinvesting.com/topic/5072893-rentrepreneur/#post-5072901 Tue, 15 Jun 2021 07:37:05 +0000 Can t say I have ever heard of it, I do have cash flow properties that are also increasing in value (the golden goose) so I will claim the title :)

]]> 1ac68899b060e372344980a7bb8c5da6 Colin Rice replied to the topic Trust & Accountant - Melbourne in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5072898-trust-accountant-melbourne/#post-5072899 Tue, 15 Jun 2021 07:34:19 +0000 TerryW is your man, assuming he is still taking on clients?

]]> 1ac68899b060e372344980a7bb8c5da6 Colin Rice replied to the topic Trust & Accountant - Melbourne in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5072898-trust-accountant-melbourne/#post-5072899 Tue, 15 Jun 2021 07:34:19 +0000 TerryW is your man, assuming he is still taking on clients?

]]> 177562091941130d95554ed98c8d235c Colin Rice replied to the topic Trust & Accountant - Melbourne in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5072898-trust-accountant-melbourne/#post-5072899 Tue, 15 Jun 2021 07:34:19 +0000 Terry W is your man, assuming he is still taking on clients?

]]> 73e10d4e3f2aa5d962946795e998ff3c Colin Rice replied to the topic Land purchase in the forum Finance https://www.propertyinvesting.com/topic/5046629-land-purchase/#post-5072844 Tue, 08 Jun 2021 11:07:16 +0000 Do you not qualify for a bank loan?

What you are offering is light on as Richard stated and no one will accept those conditions. If you came with an unencumbered piece of land and wanted to construct would be far more realistic, at least you are trying though.

]]> 3d880ad028bd2e2775a264ce167e0261 Colin Rice replied to the topic What are the best investment options? in the forum Finance https://www.propertyinvesting.com/topic/5071742-what-are-the-best-investment-options/#post-5072843 Tue, 08 Jun 2021 11:01:59 +0000 There are three basic investment vehicles;

1. Property
2. Shares
3. Term deposits

Best to start educating yourself around these vehicles and how to drive them.

]]> 97ebd399a96ce32095748069a7f4b475 Colin Rice replied to the topic Loan reducer tool in the forum Finance https://www.propertyinvesting.com/topic/5023428-loan-reducer-tool/#post-5072842 Tue, 08 Jun 2021 10:59:43 +0000 Crown offers a service where they manage your money as well.

]]> eac9a82329899b53573d9116a1c62a2b Colin Rice replied to the topic For ppl just starting property investing in the forum Help Needed! https://www.propertyinvesting.com/topic/5072358-for-ppl-just-starting-property-investing/#post-5072841 Tue, 08 Jun 2021 10:55:14 +0000 Sadly, most of us investors learn that one the hard way, it is possible to avoid altogether with the right guidance from a reputable mentor.

Soundpost for a newb to read, digest and apply.

]]> 0142f1aa3c8fc9898a5deadd094dbe49 Colin Rice replied to the topic For ppl just starting property investing in the forum Help Needed! https://www.propertyinvesting.com/topic/5072358-for-ppl-just-starting-property-investing/#post-5072841 Tue, 08 Jun 2021 10:55:14 +0000 Sadly, most of us investors learn that one the hard way, it is possible to avoid altogether with the right guidance from a reputable mentor.

Soundpost for a newb to read, digest and apply.

]]> f7a697f5f664e3a95b68bd3e1f28b9c5 Colin Rice replied to the topic 65 irregular income, 200K equity in the forum Help Needed! https://www.propertyinvesting.com/topic/5069968-65-irregular-income-200k-equity/#post-5072338 Mon, 31 May 2021 07:03:36 +0000 My thoughts are to consult a reputable and experienced mortgage broker in your area and let them do their thing so you can do yours, or not?

]]> 5054f2b4bcfe3552d6d1bf8c8d283d05 Colin Rice replied to the topic Rates notices - are your payments showing on your bill?.... in the forum Help Needed! https://www.propertyinvesting.com/topic/5072005-rates-notices-and-your-payments/#post-5072337 Mon, 31 May 2021 06:58:57 +0000 It’s itemized in WA and they give you an option of paying 100% upfront for a small premium they let you pay it off in installments.

My property manager does this all for me, so no need to stress about it personally.

]]> 58b82b1a41e7e3a8134b497f4eb93e59 Colin Rice replied to the topic Open space contribution & Subdivision question in the forum General Property https://www.propertyinvesting.com/topic/5072318-problem-about-open-space-contribution-subdivision/#post-5072336 Mon, 31 May 2021 06:47:01 +0000 If you are not planning on selling for 12 months and won’t be able to title for 6 months due to paying off the OSC then it gives you 6 months to get titles ready in order to sell the units individually, cant see anything obvious that will prevent this happening?

]]> b885755806ec79f52c203967f0a3e75d Colin Rice replied to the topic Buyers agent for development property in the forum Help Needed! https://www.propertyinvesting.com/topic/5072328-buyers-agent-for-development-property/#post-5072335 Mon, 31 May 2021 06:42:54 +0000 What area/s are you looking in as this will determine a local BA to recommend?

]]> 0b0ee9c5d299286f7c38bb85fe4dbf45 Colin Rice replied to the topic Bank assessment, question about stress testing in the forum General Property https://www.propertyinvesting.com/topic/5072017-bank-assessment-question-about-stress-testing/#post-5072273 Fri, 28 May 2021 05:18:28 +0000 You have the rate offered to you and then the assessment rate that varies between 5 to 8% so choosing a lender/product with a lower assessment rate can bump up borrowing capacity somewhat.

]]> 62e86a7106c361537a110f15572b5cf5 Colin Rice replied to the topic Motel Purchase, Advice Please in the forum Commercial Property https://www.propertyinvesting.com/topic/5026168-motel-purchase-advice-please/#post-5072272 Fri, 28 May 2021 05:12:57 +0000 That’s a nice result, kudos.

]]> 9e1616f29984da96a69f0b3bf8821f6d Colin Rice replied to the topic Buying property without building inspection in the forum Help Needed! https://www.propertyinvesting.com/topic/5061755-buying-property-without-building-inspection/#post-5072271 Fri, 28 May 2021 05:10:39 +0000 The agent will know what the reason is, whether he will disclose or not  (doesn’t sound that way) is the test. Go back and ask him/her why the seller doesn’t allow a building inspection.

]]> aba9d2e4a1af1c9be5f888a6b6e25296 Colin Rice replied to the topic Development Lending help in the forum Finance https://www.propertyinvesting.com/topic/5071724-development-lending-help/#post-5072269 Fri, 28 May 2021 05:05:31 +0000 @Chief Wigam Try Peter Trusteeg from Sage Finance

]]> aba9d2e4a1af1c9be5f888a6b6e25296 Colin Rice replied to the topic Development Lending help in the forum Finance https://www.propertyinvesting.com/topic/5071724-development-lending-help/#post-5072269 Fri, 28 May 2021 05:05:31 +0000 @Chief Wigam Try Peter Trusteeg from Sage Finance

]]> 0f4de766c39f246494ec735ff9201522 Colin Rice replied to the topic Expert Bust #23 rent money - dead money in the forum General Property https://www.propertyinvesting.com/topic/5072124-expert-bust-23-rent-money-dead-money/#post-5072266 Fri, 28 May 2021 04:59:14 +0000 Put property in a discretionary trust, live there and sign a lease and pay rent to the trust, run a business from home and the rent becomes a deductible business expense as a bonus.

Seek advice from an accountant first, as always.

]]> 0f4de766c39f246494ec735ff9201522 Colin Rice replied to the topic Expert Bust #23 rent money - dead money in the forum General Property https://www.propertyinvesting.com/topic/5072124-expert-bust-23-rent-money-dead-money/#post-5072266 Fri, 28 May 2021 04:59:14 +0000 Put property in a discretionary trust, live there and sign a lease and pay rent to the trust, run a business from home and the rent becomes a deductible business expense as a bonus.

Seek advice from an accountant first, as always.

]]> 9235d319c5f74e1c447ce735dc7184fe Colin Rice replied to the topic Expert Bust #23 rent money - dead money in the forum General Property https://www.propertyinvesting.com/topic/5072124-expert-bust-23-rent-money-dead-money/#post-5072266 Fri, 28 May 2021 04:59:14 +0000 Put property in a discretionary trust, live there and sign a lease and pay rent to the trust, run a business from home and the rent becomes a deductable business expense as a bonus.

]]> 78b74917f555fcf38f79163a9761f459 Colin Rice replied to the topic Expert Bust #23 rent money - dead money in the forum General Property https://www.propertyinvesting.com/topic/5072124-expert-bust-23-rent-money-dead-money/#post-5072266 Fri, 28 May 2021 04:59:14 +0000 Put property in a discretionary trust, live there and sign a lease and pay rent to the trust, run a business from home and the rent becomes tax deductable as well.

]]> e0adc4a440c0ad4c0c1356b81e178850 Colin Rice replied to the topic Anyone using social media / website to promote their bizz? in the forum Creative Investing https://www.propertyinvesting.com/topic/5062077-anyone-using-social-media-website-to-promote-their-bizz/#post-5072265 Fri, 28 May 2021 04:49:18 +0000 I use it to create interest and develop a personal brand, to me every bit of visibility you can attain will leave an impression on your followers/lurkers’ minds, and when someone mentions a need for your service you get a mention. It seems the best approach is to be indirect and show that you have an active and interesting life to garner a…[Read more]

]]> e267b290bbeebadf3a719dfd5e33030e Colin Rice replied to the topic Is this the catalyst that will cause a property crash? in the forum General Property https://www.propertyinvesting.com/topic/5072136-is-this-the-catalyst-that-will-cause-a-property-crash/#post-5072263 Thu, 27 May 2021 07:02:51 +0000 Went to a seminar last night and Perth people pay 24% of nett wages to rent/mortgage repayments, Sydney is closer to 44% so it will be relative to the geographic location of the impact that is felt.

I would say we will get into stress, without anything else changing such as unemployment or hyperinflation, around the 6% mark which historically is…[Read more]

]]> 8e9f028799f77511a5e160f4e02f0bd8 Colin Rice replied to the topic Is this the catalyst that will cause a property crash? in the forum General Property https://www.propertyinvesting.com/topic/5072136-is-this-the-catalyst-that-will-cause-a-property-crash/#post-5072263 Thu, 27 May 2021 07:02:51 +0000 Went to a seminar last night and Perth people pay 24% of nett wages to rent/mortgage repayments, Sydney is closer to 44% so it will be relative to the geographic location of the impact that is felt.

I would say we will get into stress, without anything else changing such as unemployment or hyperinflation, around the 7% mark which historically is…[Read more]

]]> e85d70aafa7eaca3c5c2839a2cf900d1 Colin Rice replied to the topic Questions about building inspection condition in the forum General Property https://www.propertyinvesting.com/topic/5072099-questions-about-building-inspection-condition/#post-5072262 Thu, 27 May 2021 06:29:34 +0000 These issues are open to negotiation and if you don’t ask you don’t get.

Remember, in hot markets things like this will put you at the bottom of the list.

]]> e68b68a12b85dccb485bc2bf7a8cdbcc Colin Rice replied to the topic Finding a consistent job within the industry. in the forum Finance https://www.propertyinvesting.com/topic/5048569-finding-a-consistent-job-within-the-industry/#post-5072261 Thu, 27 May 2021 06:23:46 +0000 Consider what you like to do, what you are passionate about and work out a way to monetize it.

]]> ec62bf54065786053168ba376acd248a Colin Rice replied to the topic Cash buyer in the forum Help Needed! https://www.propertyinvesting.com/topic/5072069-cash-buyer/#post-5072260 Thu, 27 May 2021 06:18:42 +0000 The valuer will makes notes in the report and the bank will decline to approve unless you can show funds available to complete the necessary repairs and upgrades. If you get into structural changes then they will likely decline. There are still options available for finance, in this case, you won’t be paying retail rates though.

]]> 06e896cb50bc235b059c60c6aaaa4c41 Colin Rice replied to the topic Problem about Switching ip to interest only assessment in the forum Finance https://www.propertyinvesting.com/topic/5072206-problem-about-switching-ip-to-interest-only-assessment/#post-5072258 Thu, 27 May 2021 06:10:10 +0000 Pre royal commission this was a relatively easy fix, now, as @terryw has already stated it will require a full application to assess serviceability under the new repayment schedule. Being self-employed, depending on your scenario can also complicate matters.

]]> 545e310bc95f972d0bdf8b1603c3413c Colin Rice replied to the topic Problem about Switching ip to interest only assessment in the forum Finance https://www.propertyinvesting.com/topic/5072206-problem-about-switching-ip-to-interest-only-assessment/#post-5072258 Thu, 27 May 2021 06:10:10 +0000 Pre royal commission this was a relatively easy fix, now, as @terryw has already stated it will require a full application to asses serviceability under the new repayment schedule.

]]>