Have you looked at realestate.com.au

I just did, and saw some in Mount Morgan (no idea where that is), and a few other places under $50K

Cheers
Mel

Sam

drop me an email at melbear7(at)tpg.com.au

Also, to check out the current rentals available, have a look at http://www.allhomes.com.au, then choose your suburb. If you advertise that you’re happy for pets, you could ask a higher rent, and would get it too. I know my brother has just been looking for somewhere that will let him have his dogs, and…[Read more]

Hi kay

A deposit bond is the same as your cash deposit, so it helps you out to secure the property without any cash. However, you still have to exchange contracts the usual way, so would have to pay all costs like stamp duty.

Cheers
Mel

Hi Prop

You can wait until the end of they FY (or even into the next – but before you do your tax return) for your QS report. I still have not had one done for a property I settled last December (I need to pull my finger out!).

I would not rely on the schedule you get from the vendor, they won’t be quite as specific as a QS, so you could be…[Read more]

Hi Westan

That’s true about the purchaser knowing your price. I think there are some ways around that (although I don’t know if they are easy/legal to do). You could get the vendor to rescind the contract with you, and draw up a new one with your buyer at the higher price, and he would pay you (as a disbursement to make sure you got your money)…[Read more]

Richardo

An option would be where you approach the vendor, outline what you plan to do, and offer to split profits with them when they do onsell. This way, you are not buying it, you are merely ‘carrying out the business of renovating’, and will reap the reward on sale. Perhaps less money for you, but if you take out stamp duty, CGT, and sale…[Read more]

fullout, one way is via the Option contract. I believe another involves putting ‘and/or nominee’, but there are specific rules (I think) about how this works, and whether or not you have to have the purchaser lined up beforehand.

Cheers
Mel

Shane, check out this post on somersoft:

http://www.somersoft.com/forums/showthread.php?s=&threadid=12669&goto=nextnewest

Cheers
Mel

Hi Wilandel

I know that that’s a good place for the topic, but it’s just that the same questions are asked all the time. I just think that if there were a more specific area, then people would be more inclined to have a look and a read and find their answers to their questions.

I’m not saying that it has to be an accountant running the show,…[Read more]

Bronny, definitely check out all the costs of running multiple loc accounts.

My strategy which I’m about to implement is to refinance all IP’s, up to 80%, and have the extra $$ sitting in only one LOC. Saves on costs, and is easier to transfer/write cheque from one account than from multiple. It also gives me the option of fixing some of the IP…[Read more]

Had to have a bit of thinking time before coming back to post.

1) What was the prime motivating event in your life that created a focus on the need to invest?

My grandparents split after 51 years of marriage (that’s chapter 10 for all those reading my ‘book’) and Grandad wanted to sell their townhouse. At 18 I didn’t want to see it have to be…[Read more]

Hey Westan, now look what you’ve done. You’ve gone and caused LuckyPhil to use an emoticon!! In over 200 odd posts he held strong, and I was thinking of getting one of the moderators or Poltergeist to edit his post to put one there, but he’s gone and went and done it of his own accord[]

I noticed when I had posted, and gone back into that…[Read more]

No Poltergeist, it was more along the lines of, I don’t think I am thinking that straight, and so don’t want to try to answer Poltergeist’s very important question until I am thinking clearly.

Re a tax and accounting area in the forum I was just thinking along the same lines myself, and going to suggest it in the Tell us what you think forum. It…[Read more]

Thanks for admitting that Westan, I went away and stewed, and was being all upset, and about to come back and say OUCH!![]

And say that I was just trying to have some fun, and that if I really cared about how many posts I had I would have way more than Arty and Poltergeist, cos I’ve worked out that even if you delete your post, it still counts…[Read more]

What can I say with no more info, but check out the many thousands of posts that are on this forum. There is a goldmine of information that has been posted, and a few people willing to meet up in your neck of the woods.

I spent my first month on here reading through the old posts in the Treasure Chest before even looking at the current ones.

Cheers
Mel

Although it is American, it covers this concept in great detail, and I would suggest reading ‘No Money Down for the 90s’ by Robert Allen.

Cheers
Mel

How do you “wrap” a lolly ?

Um, I don’t know. If you buy a Mintie you are buying a ‘wrapped’ lolly? My lollies are Skittles, MM’s, MM Peanuts, Jaffas, Jelly Beans, StrongMints, Kool Fuits, Mini Fruits.

Do you resist eating the profits ?

No, but it’s amazing how when you go to the shop and buy a bag of M&M’s, you eat the whole bag (I used to…[Read more]

Monkey Magic

In a word – yes. Talk to your accountant, or better still, visit http://www.gatherumgoss.com and check out the Trust Magic manual – $99. Or go to the Dale Gatherum Goss speech thingy in Balwyn, Vic if you live near there. Advertising on this board somewhere. Free (well $4) info from the man himself.

Cheers
Mel

Thanks for joining in Terry and supplying good mortgage broker type advice.[]

James, ask everybody. In a booming market, such as we have had, the vendor can generally get their price the standard way, so probably would not be interested. It’s a common practice in America where they’ve had not so good times for a long time, and generally do…[Read more]

Hey riffraff, your next star is only 18 posts away I think. Have a conversation with yourself in Forum Fun, or get on your SoapBox a few times, or just generally join in Forum Fun. You’ll get there!!

Cheers
Mel