From ‘The Daily reckoning’ a daily newsletter dedicated to shares and the economy and in this case talking about Greenspan and deflation : “As they used to say in the Soviet Union: ‘nothing is to be believed until it is officially denied.’”

Pisces

>>However, this may open you (and your client) up to attack by the authorities if they make a decision that the rental assistance monies were to be only for rent and not to assist in purchase. <<

I see it in the light of someone saving towards an eventual purchase.

Even the government eventually wins as that person eventually will get off the…[Read more]

Aliens ? You mean immigrants ?

Nah, the Italian and Chinese marketgardeners are no longer working nor are their children prepared to do back breaking work.

Pisces

One way to reduce the risk is to make sure the property is strata titled rather than all of the units being on the one title.

I bet right now, sight unseen, that the building doesn’t comply with fire regulations.

Probably an older style building with timber floors.

Pisces

Well, one certainly couldn’t build a unit for
80 K.

Kay suggested the following :

>>Re your last question, if you see something you consider a good deal, why not go for it? 400k is a reasonable investment for 5 properties <<

However, a commitment of $ 400 K is a large commitment in anyone’s book so what if one were wrong and it is a white…[Read more]

What would it cost me? Extra legal fees, extra running around and the general nuisance of it all. I’ve no intention to put myself out (especially out of pocket), for anyone – and I wouldn’t expect anyone to do that for me. There have already been extra solicitor hours that I can’t recoup. Would you really do that just to keep a buyer happy? Why…[Read more]

Well, I’ve been informed through my solicitor that the buyer has no wish to split the difference – so I’ve told him to proceed with the original contract – meaning the buyer has to pay the full stamp duty amount. Talk about cutting your nose off to spite your face…!! [biggrin]

Cheers,

Just remember, don’t trust anyone – get everything in writng.

One needs to take it one step further i.e. read
and understand the agreement – before, not after.

It stands to reason that interest is due for the money which is drawn.

That can be capitalised provided there is some undrawn money left in the overdraft account.

I am not pro banks but…[Read more]

The link doesn’t work Stuart

Pisces

Wrappack, it will take the best part of six months (if you are lucky) for you to have council consent in your hands.

Say one month for a surveyor and an architect to do their task, and four months to get council approval. That takes care of five months.

Then you need to spent some time to get quotes from builders so there goes at least another…[Read more]

The problem that I see is that by putting the property in a wrappee’s name whilst that wrappee may barely have just put down a token amount as deposit, if he were to default then the wrapper would have to pay another lot of stampduty to get the property back in his name.

The facts are that to protect both the wrappee and the wrapper the following…[Read more]

Don’t you know that this yellow card business is a serious proposal, Celivia.

I must have been eating too many eggs during Easter, Celivia. Perhaps that is the reason I am pisced off.

However, I really feel under threat and intimidated by people like aussierogue and _Se7en_ who want me off the site [lmao]

I am however waiting for both these…[Read more]

Is he promoting it other than by having a photo in his window ?

Perhaps you ought to offer to pay for the advertisements ?

Also, sometimes an agent may, naughty, naughty naughty, use a particular house to make another house look more attractive.

Does your property look attractive from the street ?

If he has taken just the one person though…[Read more]

Wrappack, I would still go full steam ahead with that duplex if I were you.

Just buy it in two names, yours and your wife’s (or mother or girlfriend).

By living in one you at least will avoid tax on at least one of them if it becomes your personal residence at first.

Sorry, I just realise that I didn’t suggest for you to consider to also have…[Read more]

I basically said so, Mysta, because in a small town the number of prospective buyers is a lot smaller, tradespeople may be harder to get and the cost of building a lot dearer (both from a material and a labour – i.e. tradespeople – point of view).

But, hey, if you think you can do most of the work yourself, go for it.

I’ve recently seen a house…[Read more]

That was a marvelous contribution Celivia.
You do like yellow cards but chose to turn a suggestion of attaching a charitable contribution to a yellow card into some smart arse joke.

You may have noticed that the only time I did express a strong opinion was when someone spouted outright nonsense or was abusive.

This thread is about turning an…[Read more]

What about ………. ?

‘Politicians are corrupt and, if they are not, they soon will be.’

Pisces

I would attend except that the trains are cancelled that day.

Just in case I can hitch a lift how much is a standby ticket ? [biggrin]

Pisces

Here is another bit of wise observation, uttered elsewhere by Kinks :

In theory, there is no difference between practice and theory, in practice, there is….

Pisces

Geo, all you need to do is to change the topic name which you can do by editing the post.

Pisces