[][] ACTAndy.

Funny how that still seems to fit in with what Shaun is saying regarding criteria and his time in the Navy[]

Hey, look at me – 500 posts and a (few) gold star![][8D][][][]

Cheers
Mel

Glenn, I think what you said is correct. If you listen to all the American seminar presenters (Burley, Kiyosaki, Allen) you see that there is a huge market for foreclosure buying in the States, in fact you buy them ‘on the courthouse steps’.

In Aust, with the privacy laws, and the fact that Banks have to auction the properties to get ‘fair…[Read more]

I think you can get title deeds from the council? For a fee of course – althoug some might be free. I have not done this, so I am going on vague recollection of what others have posted regarding this topic.

If you do a quick search you might be able to find the posts.

As for the negotiations, I think initially a letter, but face to face would…[Read more]

Debra

Would not an option be to rent it to your daughter and son in law, and to perhaps help them to purchase an investment property?

This way you can retain any tax benefits etc. of an investment, and they can have a ‘home’ but also have an investment property, and any tax benefits etc. etc.?

I looked at a property that my brother wants to…[Read more]

Property may be poisoned []. Oh no, a doctor, quick, my house is dying[]

I’m guessing that this term refers to the not being able to buy real estate from superfund members? Why would a family trust be any different, surely that would still be seen not to be at arms length?

Anyone [?]

Cheers
Mel

Anytime I can be of assistance[]

Besides, I want to get to 500 posts.[]

Cheers
Mel

sorry to break it to you Shaun, Phil was the only one looking for you, the rest of us are just nosey, and it sort of took off from there.[]

Cheers
Mel

You two are absolutely hopeless![][]

The quicker you pack, the quicker, nope, it’s going to take forever. Have fun you guys. Hurry back, it gets lonely in here without you.[]

Cheers
Mel

Hi Simon

The 11 sec rule that Steve outlines in his book is used as a filter to determine the likelihood of a property being cashflow positive. It is not, and wasn’t meant to be, all things to all people.

Basically it will tell you if a property you are looking at returns a rental of 10.4%. With rising rates, this may not be enough of a rental…[Read more]

HI Newbie

I am guessing that you lived in this property prior to it becoming an investment?

If so, and you have not moved into another home that you are also buying, you could probably still sell it and be CGT exempt.

Even if you have moved into another home, you could still be CGT exempt, but your home that you are in now would not be for the…[Read more]

Thanks Simon and Bill

Cheers
Mel

Doesn’t company title mean you don’t actually own an individual unit? I think that’s why the banks (some anyway, going on Simon’s post) have a bit of a problem, as they can’t pinpoint exactly what they are mortgaging [?]

Cheers
Mel

Wow Terry, that is a massive difference.

When I was young and naive (still am though[]) I refinanced a citibank loan, and paid about $3k. I thought I had to do it really quickly, so pushed it through. Then when they finally sent me their brochure on how to calculate it, I realised i would have been better if I had NOT been in such a…[Read more]

Hey Sue, it’s definitely worth the ask to find out the payout figure. If it’s good news, then refinance immediately.

If the news is not so good (which is possible, we are talking about banks here[]), evaluate if you’re going to gain more by the extra funds etc. or just have to wait it out.

From memory, the fees are also based on the length of…[Read more]

Sue [}][] and Westan []

Cheers
Mel

HI Sue

Break costs should be lower – the costs are based on what is being ‘lost’ by the bank letting you out of the loan. If you are refinancing to a higher rate, theoretically there should be no costs, but then how will the bank have billion dollar profits!?

Cheers
Mel

Richard, I don’t want you to give away trade secrets or anything, but could you tell me what LMR and RB3/4 are please?

Cheers
Mel

The contractors like ‘mend a bath’ and those that redo the tiles for you won’t guarantee the floors (they do the rest), but I think that’s only cos people walk on them etc. and they get a whole heap more ‘use’.

Peter Spann is heavily into the above practice, and recommends that you do the floors as well, as it still works really well.

Cheers
Mel

Hey Gengis, as you said, it’s better to be given $7K as a freebie towards your costs than not receiving any handout at all, which I think is the way the majority of us on this board started.

As for ‘affording’ it, it comes into our calculations when working out whether or not we can afford to invest. It is a ‘Cost of Doing Business’, and if we…[Read more]

Hey crashy, glad to see you’re still around (like your course too so far!!)

Would you not be better off, and certainly positively geared if you ‘build’ the bottom unit, and rent them both out? I have a place at the moment that has an upstairs and a downstairs two bed unit, and they do really well – much better than what a single house of same…[Read more]