PropertyInvesting.com | hydramax | Activity

hydramax started the topic RE Agent & GST in the forum Help Needed!

Thu, 22 Nov 2018 06:00:48 +0000

I am just about to sign a management agreement for a RE Agency to manage 1 of my IPs.
It clearly states on the agreement that they are not registered for GST. Neither am I.
Are they able to charge GST on their management & administrative fees each month? I wouldn’t have thought so. Can anybody enlighten me? I have just noticed they have been…[Read more]

hydramax replied to the topic In a Family Trust Can you rollover current year loss to the future in the forum Help Needed!

Wed, 10 May 2017 02:21:53 +0000

I don’t think you can carry losses over in a trust.

hydramax started the topic Obtaining Valuation before Auction in the forum Help Needed!

Mon, 24 Apr 2017 02:30:58 +0000

Thankyou for allowing me to post this request for help. Recently I have been successful in obtaining bank funds to purchase another IP. The purchase is a house on the Nth Beaches of Sydney. However trying to arrange a valuation report has been difficult. I am being told by the Mort Managers who approved the finance that the bank panel valuers will…[Read more]

hydramax replied to the topic Think you have good insurance? Read This in the forum Heads Up!

Mon, 10 Oct 2016 20:26:02 +0000

I have mine with Allianz as well.

Hydramax

hydramax replied to the topic Off the plan property investment - questions in the forum Help Needed!

Fri, 07 Oct 2016 04:24:59 +0000

with OTP investing what guarantee do you have that the developer won’t go bust. Irrespective of how big or how small.
Huge risk unless you think it reasonable to lose the insurance premium for a Deposit Bond.

Hydramax

hydramax replied to the topic Think you have good insurance? Read This in the forum Heads Up!

Fri, 07 Oct 2016 04:11:09 +0000

Hi 5c1
Really sorry to hear about your unfortunate situation. Must be very upsetting. But my experience in the past with insurance companies now entails me before applying for any type of insurance asking for a copy of the PDS. I then print it out and take the time using a pen to scrutinise every paragraph on every page. It is a monumental…[Read more]

hydramax replied to the topic car leasing Vs buying it outright , impact on borrowing capacity. in the forum Finance

Thu, 08 Jan 2015 03:59:26 +0000

If you were to concentrate on buying your IP after a short while you would soon see the advantages, and how quickly you can create wealth by valuing and respecting the $$$. I know it’s harsh but once you reach that point you will soon forget about spending big on a motor car. Any vehicle lease would put a large dent in your serviceability. I know…[Read more]

hydramax replied to the topic Problem with First Home Owners Grant, I have not received it yet. in the forum Help Needed!

Wed, 23 Jun 2010 06:30:19 +0000

From my experience with the SRO you need to make at least 3 phone calls and speak to 3 different people re your problem to get an understanding as to whether any of them have any idea re your query. If 2 give you similar answers you may be able to move forward from there, but even then it doesn't mean they understand what's correct / not c…[Read more]

hydramax replied to the topic Interest Only loans in the forum Finance

Thu, 15 Oct 2009 09:23:23 +0000

Great advice Terry & Richard as always, well done. Just the support a newbie is looking for in this forum!Hydra

hydramax replied to the topic Extra Repayments with Redraw (Basic HomeLoan) vs Variable with Offset in the forum Finance

Sun, 11 Oct 2009 19:56:40 +0000

Is their a minimum amount for each redraw and have you checked if there is a fee attached each time?Hydra

hydramax replied to the topic Help Please - Have we lost the Main Residence Capital Gain Tax Exemption? in the forum Help Needed!

Sun, 11 Oct 2009 07:12:16 +0000

Jenny, Because it is a family member the ATO may consider it board and lodging and not being rented per se.I'm sure a forum member who knows for certain will answer your query shortly.Hydra

hydramax replied to the topic Potential first investment- do these numbers look ok? in the forum Help Needed!

Sun, 11 Oct 2009 03:12:05 +0000

Tuff-etMight want to find out from the bank if your pre-approval has passed the LMI's. This normally requires all documents including a street address. Just be careful, a pre-approval from the bank can still get knocked back from the LMI. I don't mean to be negative but you need to find out for sure before committing to borrowing 80%+.Hydra

hydramax replied to the topic AMP home loan in the forum Finance

Thu, 08 Oct 2009 22:33:24 +0000

AMP, are fairly tuned in to investors. Has a large Finnancial Planning arm. They have 2 good products for property investors one being I/O and another with an LOC.Hydra

hydramax replied to the topic Established Property Valuation in the forum Help Needed!

Thu, 08 Oct 2009 22:00:35 +0000

Hi Vitale,Has your bank done a valuation or did they just give you a guestimate? The others are correct in saying it is pointless in getting your own valuer. Also if your looking at borrowing against the equity it might be wise not to go over the 80 LVR incurring LMI as I believe the valuers are aware of the circumstances for the valuation and wi…[Read more]

hydramax replied to the topic Where to get started?? in the forum Help Needed!

Wed, 07 Oct 2009 03:40:59 +0000

Make sure you keep logging on to this forum, you will be amazed at the knowledge you pick up.Even trolling through the inactive posts for research will surprise you.But I would definately be starting with residential. Good Luck!Hydra

hydramax replied to the topic IP? in the forum Help Needed!

Tue, 06 Oct 2009 20:57:19 +0000

IP Investment PropertyPPOR Principle Place Of ResidenceLOC Line Of CreditIO Interest OnlyP&I Principal & InterestLVR Loan/Value RatioJust a few, log on regularly and you will soon pick up the lingoGood Luck.Hydra

hydramax replied to the topic Auction in the forum Help Needed!

Tue, 06 Oct 2009 00:29:03 +0000

Might be an idea to get one of Richard's property reports done, if your borrowing on a high LVR. That way you may avoid a nasty surprise if successful when the bank does their val.Hydra

hydramax replied to the topic Credit Checks in the forum Finance

Mon, 05 Oct 2009 22:38:57 +0000

The last time I asked for mine I paid $28 by cd and it arrived by fastmail within about 10 mins.Hydra

hydramax replied to the topic Analyst tips back to back rate rises in the forum I really don't believe rates

Sun, 04 Oct 2009 03:12:56 +0000

I really don't believe rates will rise before xmas. Remember the bank's economists have a self interest in promoting interest hikes as it pushes people into fixed rates-great for the banks. Rates are definately going to rise but I believe it will be early next year. People will stop spending as soon as the first hike even if it's only 25 points, I…[Read more]

hydramax replied to the topic Unit for under 400K in high growth area in the forum Help Needed!

Sat, 03 Oct 2009 21:47:08 +0000

daniel_73I know a property development / real estate group building at present in Essendon. they advertise a capital return of 28% over the initial 3 years. They produce a 40 page investment pack and units start at $375k. Email info@mortgageking.com.au for details.Hydra

hydramax replied to the topic Dee Why the poorer cousin of Manly? in the forum General Property

Wed, 30 Sep 2009 03:46:23 +0000

awsydney, I have some information that may interest you. I live in DY. Since 2000 DY has been in the top 20 postcodes in NSW for taking up the FHOG each year. Since May 2008 it has been in the top 10. Lots of unit development.Median unit prices in DY currently $413kMedian rents $400p.w. Rental yield ave. 5.1%.Rented properties make up 44% of h…[Read more]

hydramax replied to the topic Need help - property investment and mortgage insurance in the forum Legal & Accounting

Mon, 28 Sep 2009 12:15:15 +0000

Richard makes a great point about LMI thresholds and the need to spread your lenders.Well done!!Hydra

hydramax replied to the topic How do they check PPOR for FHOG? Anyone been checked? in the forum Legal & Accounting

Mon, 28 Sep 2009 12:07:35 +0000

In NSW if you are unable to move into your property within the first 12 months because you have work commitments preventing it, you can ask the OSR for an extension which can be granted if they see fit. But this would need to be done prior to the 12 months expiring and ideally as early as possible. Best idea is to ring the OSR in your state and…[Read more]

hydramax replied to the topic Experience with claiming FHOG but never moving into the place? in the forum Help Needed!

Mon, 14 Sep 2009 08:22:27 +0000

Hi everybody, I'm pretty sure the rule is you have to move in within the first 12 months and stay for a minimum of 6 months. You can then move and rent it out again and you will still be eligable for the FHOG.Hydra

hydramax replied to the topic 95% LVR is it still possible in the forum Help Needed!

Thu, 03 Sep 2009 10:00:21 +0000

Hi MacnattYou would also need to show you are able to reduce debt on your credit cd if you have one; meaning it is not maxed out and you are conscious of being able to comfortably reduce it.Numerous enquiries on your CRA wouldn't help. If your after 95% LVR you would need to have far less activity than someone after a lower LVR. EXCELLENT JOB,…[Read more]

hydramax replied to the topic advice on a good deal in the forum Help Needed!

Fri, 28 Aug 2009 01:45:36 +0000

Hi Jenny, you may find that the mortgage insurers may only lend at a very low LVR in your area. Sorry, but I may be wrong.Hydra

hydramax replied to the topic Investing in Frankston in the forum General Property

Thu, 27 Aug 2009 12:52:57 +0000

Yes it was Margaret Lomas.Her reasoning is mainly due to the impending infrastructure in the particular municipality. Apparently she physically makes appointments with various councils and flys all over Australia interviewing the manager for her research.Hydra

hydramax replied to the topic Investing in Frankston in the forum General Property

Thu, 27 Aug 2009 08:38:25 +0000

I went to a seminar the other night in Sydney and was told that Frankston council has earmarked $500M (thats 500 million) over the next 20 years in infrastructure development. The woman giving the talk, has written several books on real estate investing and chose Frankston as her No 1 pick in all of Australia followed by Werribee then Ipswich.Hydra

hydramax replied to the topic Finding the fair value for a property in the forum Help Needed!

Thu, 20 Aug 2009 10:35:46 +0000

Ask QLD007 for a property report and it will list about 40 comparable sales in the local area. Drive around and check them out doing your own roadside val.Hydra

hydramax replied to the topic Turning your PPOR into investment property in the forum Legal & Accounting

Wed, 19 Aug 2009 04:51:29 +0000

Qlds007Thank you Richard once again! Hydra

hydramax replied to the topic Does Pre-Approval mean nothing? in the forum 65ensIt may have had

Wed, 19 Aug 2009 04:41:36 +0000

65ensIt may have had something to do with the postcode. It may help to check what LVR your'e allowed in that particular postcode.Hydra

hydramax replied to the topic Turning your PPOR into investment property in the forum Legal & Accounting

Wed, 19 Aug 2009 03:18:13 +0000

Sorry, gentlmen to get off road, but need some advice from people far cleverer than I.2 people purchase IP, both on title and mortgage documents. Can the highest salary earner claim all 100% of neg. gearing benefit.? Presuming married couple.Hydra

hydramax replied to the topic St George - 'Negotiated Basic Home Loan' & 'Basic Home Loan'' in the forum Nitro All new customers with

Wed, 19 Aug 2009 01:13:25 +0000

NitroAll new customers with St George are able to apply for Negotiated Basic Home Loan. The idea is to attract new customers to the bank.The 2 loans are exactly the same. The 09% discount is for the life of the loan. For current customers to be able to apply they need to increase their lending and then they can convert to the Neg. rate. Just r…[Read more]

hydramax replied to the topic FREE Residex Report Australia wide in the forum General Property

Mon, 17 Aug 2009 08:05:44 +0000

The upgraded sales price in the residex reports refers to the capital growth for that particular suburb per year added to the last sale price for the property. This may not carry over to your particular property because of the 5 variables. The value estimate of any particular property is the residex value on the front page. Hydra

hydramax replied to the topic Best way to start Ip in the forum Help Needed!

Fri, 31 Jul 2009 03:17:57 +0000

Hi Richard, Thankyou also from me.As always your advice is very informative and professional. I appreciate your great support to this forum.I have not been a member for long and I along with others really look forward to the help you provideHydra

hydramax replied to the topic Best way to start Ip in the forum Help Needed!

Fri, 31 Jul 2009 00:47:03 +0000

Richard,If separate 100% IP loan would that mean security for PPOR would need to be involved as well? ie IP loan would need to be taken out with same lender. RegardsHydra

hydramax replied to the topic Best way to start Ip in the forum Help Needed!

Thu, 30 Jul 2009 23:21:50 +0000

Richard, would this help Mimi or not?PPOR loan would be P/I with offset and 1 split20% deposit placed in split, this money to come from PPOR loan account not offset.Borrow 80% for IP at I/OAll 100% of IP purchase is identified, no problem with ATO and interest for all 100% of purchase tax deductible.Rent from IP deposited straight into offset to…[Read more]

hydramax replied to the topic Have we made a mess of our loan structure? in the forum Finance

Mon, 06 Jul 2009 10:10:34 +0000

Thanks,Terryw, very positive.Hydramax

hydramax replied to the topic Have we made a mess of our loan structure? in the forum Finance

Mon, 06 Jul 2009 08:28:23 +0000

Terry would investor sponge need the LOC if he had the 3 IO loans and an offset with the PPOR?Would he and his wife be better to pour their salaries and all their rental incomes into the offset?Would that maximise their deductions on non ded. debt and at the same time maximise the deductible benefit of the IO loans?I value your input, and I may b…[Read more]

hydramax replied to the topic Looking for a new apartment in the forum Help Needed!

Wed, 01 Jul 2009 10:00:59 +0000

for info on new block being built in Brunswick, 24 x 2 b'room, 2 bath email info@mortgageking.com.au Catalogue available

hydramax replied to the topic Help please :) Unsure of options in the forum Help Needed!

Tue, 30 Jun 2009 10:42:14 +0000

You could both apply and be on title, and just use his income for serviceability. Problem you will face is the large c/c limit.The bank will automatically take 3% ie $400 per month from your serviceability which means you may not pass. You may also be up for LMI. If your credit cd limit is not maxed out have them reduced by ringing the bank, this…[Read more]

hydramax replied to the topic Legalities on rent in the forum Legal & Accounting

Fri, 26 Jun 2009 23:16:54 +0000

So long as the 2 of you do not have a signed agreement which could pop up if there is a fallout then Terryw has got it right.

hydramax replied to the topic FHOG- renting before living there in the forum General Property

Fri, 26 Jun 2009 10:13:37 +0000

if the home your buying is not new you can rent it out for the 10 month period and still qualify

hydramax replied to the topic FHOG- renting before living there in the forum General Property

Fri, 26 Jun 2009 09:31:41 +0000

You are required to move into your home within 12 months of settlement to be eligable for the FHOG.Once you have moved in you are required to stay for minimum 6 mths. If you don't require FHOG for settlement you have up to 12 months post settlement to apply and still qualify.

hydramax replied to the topic First Home Buyers Grant in the forum I do know that if the

Fri, 26 Jun 2009 03:42:46 +0000

I do know that if the applicant has a good enough reason the OST will grant an extension. If your son is on a contract then i think you would have a good chance. There is lots of information on the OST website

hydramax replied to the topic SUB DIVIDE in the forum Value Adding

Thu, 25 Jun 2009 23:38:20 +0000

Scott No Mates wrote:
Once you have identified a suburb (and preferably a house with the contract in hand, so that you aren't wasting council's time) visit the town planner. It will pay to download a copy of the LEP and the zoning map for the suburb.Thanks Scott No Mates, your help is very much appreciatedGeoff