If you use the equity in your current PPoR as a deposit on the new PPoR, and then get a loan for the balance of the purchase price, the interest on that loan is NOT tax deductible as it is not being used for investment purposes. You will be up for repayments on $550k plus costs (usually around 5-6% of purchase price). Total loan of approx…[Read more]

Looks like a "secret for BoB Proctor " to get rich to me. What would I know; I'm just old and cynical and have seen too many slick cons before by guys with perfect hair in tailored suits.Another money making scheme targeting the weak of mind?

Daryl wrote:
Hi Xenia: The clause specifically states… 'indicates within 7 days of receiving a contract'.

I often here from people about the wordings of contracts they are presented with in r/e deals, and how they are unfair, or restrictive etc. There is nothing wrong with simply crossing out any terms and/or phrases that you don't like on…[Read more]

Good work F;as I read that last post I thought I was listening to myself talk. We are definitely the minority  you and I and most of the forum – sad, I know.Over here we buy as much of our shopping at the 99c store as we can, and whatever else is left on the list we go to the local supermarket with the rewards schemes. We are not cheap though;…[Read more]

This sort of falls into the old cliche of "a dollar saved is a dollar earned" and a concept my economics teacher in year 11 (a hundred years ago) called an "opportunity cost".If your PPoR is never used for investment purposes then the interest you pay on the loan is money down the drain – a bit like rent I suppose. The more you can pay off your…[Read more]

meatgroup wrote:
Hi There,Well we think we have finally found our first home….. very exciting. Did it through a letter box drop and out of approximately 250 houses targetted – this has been the one and only response and we've struck a deal. My question lies in the payment of the deposit. On the contract they have put the name of the vendor as…[Read more]

edwardc2 wrote:
Hi and thanks for that reply L.A. Aussie. Just give me a few days to absorb what uve written [smiling] Just got myself into a negatively geared property recently – guess ill be broke for a while. By the way how does one access equity for their next deposit? Cheers Ed

To access the equity, you need to restructure your housing…[Read more]

From my recollection most banks will class the deal as commercial when it goes over 4 dwellings (units etc) and thus will offer a lower LVR. 4 and under is classed residential and they'll go up to 80% (or higher with LMI)

We bought a unit a few years ago which we wanted early access to for the same reasons as possumpal. We included in our 'conditions' on our offer early access on XYZ date. The vendor said yes and away we went.

Originally posted by rejoice:
Interesting reading. The reef at Nias is now above the water due to the Tsunamis.

Get 7 Free Lessons from the Teachers of “The Secret” http://rejoice.theofficialsecretseminar.com

Hang on – the reef is now “ABOVE” the water due to the Tsunamis? Was the reef above the water before them, or only since? Where did the…[Read more]

Hey Julie;
I think you’ll find that if you purchase at auction it is unconditional (may differe in some states) with no cooling off period. Another reason why agents like them.

Kim;
Have a look at the Neil Jenman site and read what he has to say about auctions; he was an agent himself.

The reason why the Public Trustees have auctions is because…[Read more]

Originally posted by rejoice:
One of the best surf breaks in the world “Nias” is now no longer surfable which brings tears to most surfers with any idea as this used to be the one of the best waves in the world before the tsunamis. If the sea level rose, it could once again be or maybe there are bigger and better breaks now? I guess I’ll have to…[Read more]

O.K….he TALKS a lot; but what has he DONE?

In one year he will have DONE this – used 12 times more energy than my household (not including his air travel in those pollution-free jumbos).

He has also made a lot of money from his film. He didn’t need the money before the film. Is he using all the profits for the Good Fight?

My evidence of water…[Read more]

Hi Ed, welcome to the forum.

The money you put into a property has not gone forever; it is sitting in the property in some form – usually as a deposit. Of course, you can’t get at it all that easily unless you have a loan with a re-draw facility or if you sell.

The purpose of a CoCR is to find out what your investment return would be when…[Read more]

Originally posted by micheled:
Hi Everyone

This is my first form, so please bare with me. Does anyone know how to calculate the Median House Price for a two-bedroom unit, as the average seems to be three-bedrooms.

Looking forward to increasing my knowledge.

Cheers

Michele[biggrin]

Welcome to the forum Michele.

The calculation for a median…[Read more]

This product, or a similar version of it, has been widely used in the USA since I’ve been here. It is, in my opinion, a very dangerous product. Many people here took these loans because they couldn’t afford to buy using traditional, safe options.

Some took them to take advantage of the booming market here in L.A; which ended about a year ago. Now…[Read more]

Originally posted by banked:
This is interesting LA Aussie….
I noticed last night that the agent has increased the adverstised (+) price by $20,000. Seems to me that they’re just after some hype around the property, they’ve advertised it for a low price, got people interested and want a bidding war at auction. Surely this can’t be legal?
I was…[Read more]

Originally posted by blogs:
Originally posted by dacium:
How close is it to auction? If it is within a month then the seller usually has to go through with it no matter what now.

Never heard of this before? I myself bought a house just a couple of weeks ago 4 days prior to auction!!! What are you basing this comment on?

From my experience the…[Read more]

Originally posted by banked:
The agent is now stalling with the section 32 which adds to the thought that he’s just trying to get the house to auction. Does anyone know how long the section 32s usually take to prepare? I understand that it would vary a lot, but is there an average time?

Thanks guys.

If the conveyancer is on the ball; about 3…[Read more]

Landlords are responsible for the maintenance and repairs to the property. Termites will affect the property, so this is a repair and/or maintenance pest.

All other Pests are not related to the above.

I have heard of white cockatoos eating cedar windows, but this doesn’t affect the tenant’s lifstyle especially – just the ugliness of where they…[Read more]