amazingjeffery wrote:
Hi, Wouldnt you only be able to get access to 80k not 320k. So they 80k would effectively become the new deposit for whatever property you buy next.  If the person sold for 400k and made the 80k -25k profit, if it was their place of residence isnt it CGT exempt??

The $320k figure from Duckster was the amount the original…[Read more]

He certainly does get a lot of kudos around the forums. I’ve never dealt with him directly but I have heard nothing but good things.

Best of luck

Jamie

Hi Pks

The main question you need to ask yourself is “will it add value?” – you’ve mentioned that you’re going to sell it in a couple of years – have you considered other ways of improving the value at less cost? This doesn’t sound like an affordable renovation – and at the end of the day, if you’re left with a 3 bedroom townhouse (albeit with…[Read more]

g0biin wrote:
They were saying they use 78 steps to find the real estate and it the same steps that Mcdonalds use for their resturants.

It’s an interesting sales pitch – I’ll give them that. Any chance of getting that list of 78 steps? Why not just knock out the middle man and start racking up IPs next to McDonald restaurants

Cheers

Jamie

Same here in Canberra. It seemed that the market made a bit of a jump in January but has slowed down a little since. In fact, Herron Todd White have categorised the stage of the property cycle in Canberra as ‘declining’ – this is a contrast to the “rising market” status it has been granted over the last few months. The most recent HTW report is…[Read more]

Gmoney336 wrote:
i think i will increase my offer to $330k, if thats not accepted i'll walk.330k is still a reasonable price to pay for the house. It meets all our needs and is in the location that we want, and below the average price for that area.Just have to word a good offer now and see what happens!

Gmoney, how did you with your offer?…[Read more]

luke86 wrote:
How do they know that the property will grow by 10% per year? Are they God?Luke.

My thoughts as well. It’s impossible to predict. What happens if growth goes backwards or stagnates? I recall seeing a story about something similar on one of the rubbish current affairs shows.

Carry out your due diligence and tread carefully.

Cheers

Jamie

Hi Noddy

Welcome to the forum.

If you’re willing to look further afield then those postcodes, there’s been a few posts on here asking for recommendations for Melbourne accountants. If you do a quick search you’ll find a number of responses.

Cheers

Jamie

duckster wrote:
Usually banks lend out to 80% of the LVR on equity meaning you will only be able to borrow to 320k max so as to protect them from an equity valuation decrease.

Depending on the lender you can generally go up to 90% LVR – some LMI would be payable.

Cheers

Jamie

Thanks for sharing Andrew. Could be some interesting times ahead – not a bad time to be a buyer IMO.

Cheers

Jamie

If it’s valued around the same as the other properties and comes with the extra living space – then it sounds good. How was the workmanship on the extensions? Do they look professional? Can that study be converted into a 4th bedroom? This could result in higher rent.

Cheers

Jamie

Hi Rainydaze

Have contracts exchanged? If so, a deposit of 5% or 10% should have been paid up by the buyer. If they were to not follow through with the purchase, I’d think they’d have to compensate you in some way (ie. forfeit the deposit). I’m not a lawyer but I know that not going ahead with a purchase after exchanging contacts is not simply…[Read more]

Gmoney336 wrote:
Agent said i can but will need to wait another 4 days as the boss is not in and only he can issue a refund.

The boss may be the only person with authority to operate the trust account. In any case, it’s rubbish – call them today and demand your refund – it’s extremely unprofessional on their behalf.

Best of luck.

Jamie

Sebastian Shauw wrote:
Port St. Johns on the Transkei Wild Coast, the exquisite Garden Route, and Cape St. Francis close to Port Elizabeth, Durban and the West Coast of South Africa are all options that one should look at when searching for that perfect house for sale.

Hi Sebastian

Thanks for the reply.

The Transkei is a beautiful place – I’m…[Read more]

maxipes76 wrote:
Just to give an idea, let's say you have your current loan with anz. They initially did their valuation on your property before they gave you the loan. After you did your reno and if they sort of refuse to do the value assessment again (for whatever reason) call another lender and have them to do it for you. Just remember that…[Read more]

Derek wrote:

gregorsky wrote:
I am 20 and new at this,

Mate – if I were you I would be patting myself on the back. Most 20 yr olds I know are still working out which pub or nightclub to go to. You're on your way to a very solid future provided you go steady, steady. 

Agree with Derek. That’s hugely impressive!

Cheers

Jamie

It means it can be used for different things. What that “thing” is – I have no idea.

jacqui_03 wrote:
I have loans with CBA and Westpac and I find it frustrating that Westpac takes 2 weeks to get it unconditionally approved when all info and docs are provided on day 1 where CBA has it unconditional in 1-2 days.

I guess it depends on the lender at the time – I had a Westpac deal go unconditional within four days just last…[Read more]

mrmonopoly wrote:
The only slightly negative thing I would say is that her philosophy on property investing is such that she doesn’t really write or comment enough on properties/areas within 10-15km of the major CBD’s often enough. Which is a shame although understandable when you read her books etc.

I agree, she is a fantastic commentator on…[Read more]

ChristopherLee wrote:
I think the majority of people in that suburb have a car as there is nothing within walking distance (besides the beach and an outdoor 50m swimming pool).

Hi Chris

Welcome to the forum.

It sounds like you might have answered your own question. If most people in the area own cars – then you’re restricting yourselves to a…[Read more]