Total Members: 158,668

JustAllan

  • JustAllan started the topic Splitting rent according to number of tenants in the forum Help Needed! 9 months ago

    I decided to revive my account here to ask a question.

    I’m currently a tenant renting a 3bd rental property.  I use 1 bedroom.  I’d like to reduce the rent I’m paying to save more $$$ sooner for a loan deposit, by having someone move into one or both spare rooms.   It won’t be a sublease but “a friend” that must be approved by the REA and add…[Read more]

  • JustAllan replied to the topic PPoR / IP / Bank / Centrelink – confused! in the forum Finance 8 years, 6 months ago

    Forgot to ask… I was trying to solve the missing 25% problem, and make it an IP from the start. Is there anything preventing me getting the extra 25% by using the savings as security for a personal loan?

  • JustAllan started the topic PPoR / IP / Bank / Centrelink – confused! in the forum Finance 8 years, 6 months ago

    Quick summary:

    * Pensioner
    * Have 50% deposit
    * Bank will lend 50% for PPoR
    * Bank will lend 25% for IP

    The problem:

    1. The 25% reduction for an IP – means I can’t purchase one. Even though…

    2. I’m paying cheap rent. So buying either PPoR or IP, makes me financially worse off. (Once my cash goes into a PPoR, I’m no longer earning…[Read more]

  • JustAllan replied to the topic Two 'closing costs' – or three !? in the forum Legal & Accounting 8 years, 7 months ago

    Glad the government keeps things nice and simple. I was going to ask what’s the point, but that’s just as pointless – LOL.

    Thanks.

    Is anyone aware of a website that lists ALL the costs in buying a (NSW) residential property? Just when I think I’ve covered every expense (in a spreadsheet), I find another site that mentions another expense.…[Read more]

  • JustAllan replied to the topic Two 'closing costs' – or three !? in the forum Legal & Accounting 8 years, 7 months ago

    Glad the government keeps things nice and simple. I was going to ask what’s the point, but that’s just as pointless – LOL.

    Thanks.

    Is anyone aware of a website that lists ALL the costs in buying a (NSW) residential property? Just when I think I’ve covered every expense (in a spreadsheet), I find another site that mentions another expense.…[Read more]

  • JustAllan started the topic Two 'closing costs' – or three !? in the forum Legal & Accounting 8 years, 7 months ago

    Thinking of buying my first PPoR. I was looking at two websites: one was CBA; the other just one of many that use the same NSW NSW stamp duty calcuation.

    The bank totals up ALL of the following:

    1. $110 – Registration of mortgage (register mortgage on title of property).
    2. $110 – Registration of discharge of mortgage (remove seller’s e…[Read more]

  • JustAllan started the topic Upcoming Joel Bauer events in the forum Opinionated! 8 years, 10 months ago

    I looked several times but couldn’t find the details. With only a start time provided, I wonder how many people are thinking similar:

    * How long the event goes for. i.e. When does it finish each day.

    * Whether parking is available – and if for example that requires coins, credit card, some kind of electronic pass, etc.

    * We don’t know if it’s…[Read more]

  • JustAllan started the topic Upcoming Joel Bauer events in the forum Opinionated! 8 years, 10 months ago

    I looked several times but couldn’t find the details. With only a start time provided, I wonder how many people are thinking similar:

    * How long the event goes for. i.e. When does it finish each day.

    * Whether parking is available – and if for example that requires coins, credit card, etc.

    * We don’t know if it’s a couple of hours, or several…[Read more]

  • JustAllan replied to the topic Build before subdivision or subvide before building in the forum Value Adding 9 years, 3 months ago

    I know of a guy who purchased a block of land along a highway, planning to build a petrol station/restaurant – based on a backroom handshake with council – regarding future development of the area. With $$$ in his eyes he purchased the land dirt cheap from a farmer, then waited. When development plans for the area were released, the off ramp…[Read more]

  • JustAllan replied to the topic Investors using RE Agents/Property Managers – beware! in the forum General Property 11 years, 6 months ago

    How do we still qualify for benefits?  Beyond me.  All I do know is, they assume you're earning x% (I think it's something like 4%) on any assets.  Centrelink then deducts 50 cents for every dollar they estimate you're earning – whether you are earning anything or not.  Payments continue to reduce until above a certain level of assets you get…[Read more]

  • JustAllan replied to the topic Investors using RE Agents/Property Managers – beware! in the forum General Property 11 years, 6 months ago

    I wasn't even aware of that – thank you.

  • JustAllan replied to the topic Investors using RE Agents/Property Managers – beware! in the forum General Property 11 years, 6 months ago

    We have indeed.  But there's two obstacles.  First, after costs, stamp duty, etc., we'll only have about $287,000 remaining.  There's mostly only hovels here for that price.  The second problem is time.  Several RE agents told us they'd "definitely be able to help us."  We asked them to be brutely honest – and they weren't.  Now we have a week…[Read more]

  • JustAllan replied to the topic Investors using RE Agents/Property Managers – beware! in the forum General Property 11 years, 6 months ago

    We really don't know what their problem is.  We are on Centrelink benefits, but we're far from the stereotype.  (We have ~$300,000 in savings, which they know because it's one of the documents we use to provide identity points.)

  • JustAllan replied to the topic Looking for broker/etc. in Newcastle NSW area in the forum Finance 11 years, 11 months ago

    Thanks… I have suggested that very thing to him. I’m trying to look into other options, in case he feels things are getting more complicated than he’d like.

  • JustAllan replied to the topic Looking for broker/etc. in Newcastle NSW area in the forum Finance 11 years, 11 months ago

    Hi Richard. I think you might have hit the nail on the head. (When you mentioned minimum loan amount, I think that may be the reason they can’t get a loan with a standard lender.) Also, I’m not sure – but it’s possible they are repaying a loan on the church building. With that in mind, I have two questions for you:

    1. If there IS a current…[Read more]

  • JustAllan replied to the topic New Certificate IV Course – Fee exemption!? in the forum Ok, I have been emailed 12 years, 2 months ago

    Ok, I have been emailed privately about this. Basic criteria is you need to be an Australian citizen, not completed a Certificate IV (or higher) in the past (only allowed one exemption by gov. it seems), employed full time, and your employer agrees you may do the course (as they are involved in the scheduling and payment process).

    I hope it was…[Read more]

  • JustAllan replied to the topic 1st investment for under 350k in the forum Help Needed! 12 years, 2 months ago

    Just read your price limit again… Have you considered the Central Coast, Port Stephens (I’m mainly thinking of Raymond Terrace), or possibly even Port Macquarie if you can get a bargain. Also Old Bar.

    For example, Raymond Terrace has two Woolworths 3 minutes walk apart. A BigW, Aldi, RTA, ten pin bowling, public pool, new police station, Dan…[Read more]

  • JustAllan replied to the topic 1st investment for under 350k in the forum Help Needed! 12 years, 2 months ago

    Yes – Aberglasslyn – that’s what I meant by Rutherford. I always forget it has a different name, because Aberglasslyn was once just a few farms and a dirt road. McKeachies run is new as well, but seems a little more expensive than Aberglasslyn. (Although I haven’t looked in detail. It’s just a personal conclusion drawn from the daily listings…[Read more]

  • JustAllan replied to the topic 1st investment for under 350k in the forum Help Needed! 12 years, 2 months ago

    The area south of Charlestown (Windale) has a large proportion of government housing tenants. The NSW Gov. has been selling them off for several years, but the area will take decades (if ever) to improve. i.e. If your neighbour is a drug-using, wife-slugging, foul mouth with a dog that never shuts up, children that always have swinging full…[Read more]

  • JustAllan replied to the topic So far out of the box… there’s no box. in the forum Help Needed! 14 years, 6 months ago

    Oh – and reading my question again, I realised someone may take me the wrong way…  I wouldn't be subdividing the block…  Just putting up a temporary fence.  Maybe it would turn out I'd only be there one, or two, years.  But if I *could* last four years, I'd certainly be way ahead.

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JustAllan

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