Well Bruce, based on the facts as you presented them it really looks to me as if you are going to lose this one.

You have already won two court cases so I would guess that two out of three isn’t bad.

The amount you received is irrelevant as you agreed to the arrangement on that basis and you are now the one who chose to break it.

The emotional…[Read more]

I know it is an old story by now Rowan but I am just curious whether you signed an agreement with the second real estate office or whether they merely got a conjunction.

I guess you’ve had legal advice at the time.

BTW if we don’t report bad experiences then those people will continue to rip off others.

Pisces133

Oops, forgot to add the follwoing words at the end of my previous post :

‘RIGHT NOW’

Pisces133

It doesn’t matter what someone else has or hasn’t done.

The real question is whether there is something of value in any of the profferred ideas and whether we can use any of them to increase our bottom line.

The next question we have to ask ourselves is whether we want to theorise and dream or perhaps criticise and condemn or whether we want to…[Read more]

I guess a good idea would be to reduce one’s personal mortgage to nil (as it isn’t tax deductable) and thence borrow on your own house
to invest elsewhere (the interest rate in that case being tax deductable).

It may be a good idea as well to set up a line (or lines) of credit (or to have an ofset account) in order to have access to cash for…[Read more]

A good question to ponder about and which everyone should be busy with.

Some of the possible ways of protecting oneself are :

1. Don’t be overgeared to the point where you cannot sleep at night

2. Make sure you have access to a line of credit you can call on (so don’t sail too close to the wind by having a large debt without having moneys in…[Read more]

Stanford, your feeling of security shouldn’t lie in having a long term tenant so much as in the location of the property.

Secondly, to get a positive cashflow the location is probably second or third rate which sometimes doesn’t make for a peaceful sleep.

Better to create a +ve cashflow by improving a property.

For example by recycling an…[Read more]

>> Solicitor doesn’t have anything to do with you disclosing.<<

It is however a reasonable assumption to make that you have in mind to mislead the bank.

But, I agree Terry that it is in fact a good point to make to convince your solicitor that there isn’t any problem in him co-operating.

This then leaves only the vendor’s solicitor to deal with…[Read more]

Get a second opinion.

I understand that Steve McKnight has written a booklet about trust. Consider buying it, well worth it.

Thence get a second accountant’s opinion as your present one doesn’t appear to be much on the ball.

If you quoted your present accountant correctly it appears as if he hasn’t got a clue about the difference between tax…[Read more]

Melay has hit the nail right on its head, it is difficult (but not impossible) to obtain finance for a one bedroom unit under 45 sq. metres.

Also, some lenders would see problems with a serviced apartment. So if it can be rented out privately you may overcome this lender’s objections in this regard.

Often you are able to buy such a serviced…[Read more]

Hi Marek,

Here are some comments.

Firstly, a zoning like 2A or 2B doesn’t necesarily mean the same thing for two different councils.

And yes, there are pitfalls. Too many to mention in this post.

It is essential that you get hold of the council’s guidelines (or code) so that you know whether or not you can do what you think you can…[Read more]

You can always get a second valuation.

Some lenders are O.K. with the broker nominating the valuer as long as such a valuer is on the lender’s panel.
(Just this morning I was asked by the lender whether I have got a preferred valuer)

And yes, the broker can indeed question the valuer’s figure by coming up with comparable sales and pointing out…[Read more]

Clinton if you are going to do some spotting for other people I would like to suggest you approach it in a businesslike fashion by having an agreement signed by the investor beforehand which in essence says that from time to time you will introduce the investor to certain properties and in the event he or any company he is associated with or any…[Read more]

>>Why would there be 2 lots of stamp duty?<<

Dan have you actually done this ?

The fact is that there is double stampduty involved.. Phone the stampduties office and ask them the question.

I believe that there IS a way around this provided you know the name of your endbuyer
before you enter into the contract to purchase.
(One’s name should be…[Read more]

If you have an existing loan use your existing cash to partly repay the existing loan – provided there is a redraw facility.

And if there isn’t or if that isn’t possible, consider switching to a loan with a redraw type of facility.

And what about paying off your credit card temporarily or permanently ?

Pisces133

I suggest you also have a look at this site :

http://www.bis.com.au/

Pisces133

quote:
doogs-
i got samples of the whole darn orchestra…whaddya need?
mini

Just the Last Post Mini! pretty corny I know.
J.

Hi all, I’m an electronics engineer. I design microwave video & data links, well I used to ’till I got sucked into this forum. Better make this my last post for a while (how are you with the bugle MiniMogul?). I get to design & make all sorts of interesting little gizmos, like the StumpCam transmitter. You’ve probably used them Richmond! My hobby…[Read more]

Mum2boys, I’m sure you’ve sunk a lot more into the principal than you realise. The technique of the con jobs is to disguise the fact that a lot of your income is disappearing into the principal. It’s just pure maths really, not rocket science.
Melanie, I think the best combination is the offset on a smaller LOC loan and the bulk of your loans in a…[Read more]

Hi everyone, here are my promised formulas. Sorry it’s a bit long winded. They mightn’t be strictly accurate from a purist economist point of view, but I’m sure they are a reasonable approximation. Hopefully I haven’t miscued the calculator again.

Define the following variables:
A = repayment Amount per compounding period
P = Present worth
F =…[Read more]