Wow.

This isn’t the only example of unfair rating systems. I’ve seen cases where council rates for a 1 bedroom unit are the same as a 3 bedroom house in the same area. Meanwhile the local water authority will merrily charge the same service charges to a 1 bedroom unit as a 5 bedroom house. Given that in a 5 bedroom house you’re more likely to…[Read more]

Further to what Terry has already said, you might want to include time limits on your conditions, and an indication of the consequence if the condition is not met.

Interest only with offset. That way if you ever want to withdraw those funds (for a holiday, for a medical expense, or to fund deposits on further properties) you can whip that money out without asking anyone’s permission.

If you pay the loan down, to get your “equity” back out again you must apply to do so. This is a borrowing event. You will…[Read more]

… or you can attend the open for inspections for properties in the target area. You will observe current demand very quickly in this way. If you see queues of people at the front of the property (like the queue at the bbq at Bunnings) waiting for the open, and several people asking for application forms, that shows you demand. Go inside and…[Read more]

The rear pages of the Australian Property Investor Magazine, or via http://www.sqmresearch.com.au

When you decided the IP would become your PPOR, there was no conveyancer or solicitor involved (whereas there would be when you are acquiring a property).  As such, it would be your responsibility to contact the SRO.  I am sure your solicitor would happily do it for you, however there would of course be a fee for their time.  As this is so…[Read more]

I’ll send you a private message with my recommendation.

In Victoria, the exemption threshold is $250k worth of land.  If you look at the council rates notice for the IP and look for the land only valuation, you’ll probably find it is less than $250k, so you owe the SRO nothing in terms of landtax.
Normally it is the job of your solicitor/conveyancer to lodge details of your purchases with the SRO,…[Read more]

If you are after a precise figure, it might be worth including your other purchasing costs such as building and pest inspections, and solicitor/conveyancing fees

Hi Ben
If you are using exclusively natural equity growth (as opposed to the forced variety through value-adding such as renovation and subdivision) and your day job income to fund deposits etc on subsequent properties, then one way to maximize what you can do with your available equity is to keep your deposits low, and go a higher lend on the…[Read more]

He there, you will not be able to sell it to your SMSF.  Sales between a SMSF and its related parties is not permitted.

There would be an insurance policy for the shared driveway, so at some point the owners of the front and rear dwellings need to agree on the policy and pitch in their respective share of the policy price.  This would be quite problematic if one owner would not agree.  You’d then have a public liability risk on the common parts.  If a visitor tr…[Read more]

It doesn’t work like a margin loan in the world of shares.  That whole business about the bank ringing you to say you need to “top up” the difference the portfolio has lost.  You know, just magically fashion a spare $50k out of thin air over night.  Scary.
If you had used equity to fund the deposit of a second property, if the property/s went dow…[Read more]

Hi Solomon
With regards to property being the vehicle, if you bought it in your own names, then transferring/gifting it to your son would result in Capital Gains Tax for you, and Stamp Duty for him.  In this regard, a family trust may well be the way to go.  With a bit of luck Terry will pop in to say hi and contribute his thoughts on the m…[Read more]

Hi again Frank
Might be time to read those Terms and Conditions again (or for the first time as the case may be).  The moderators are pretty keen on jumping on you for suggesting people call you or email you.

Hi Frank
Good to see you seeking feedback on how best to operate on the forums :)
The forum is here for the purpose of knowledge-sharing.  It is of course the case that industry professionals are likely to have a lot of knowledge to offer in their field.  As such the knowledge is welcome… but not as the first post.  It is considered good ma…[Read more]

Wow.  Spam for the first post…

Hi Jamie,
I wonder if the poster is asking can a term-deposit be used as security?