Kay, a rough, very rough, rule of thumb is that the interest needs to be covered three times by your income.

As far as rental income is concerned, with St George for example 80% of rental income is taken into consideration.

Other lenders may use a different percentage.

The reason the whole of the rental income isn’t accepted as income is so as…[Read more]

>>In your offer put down that the drawing of the cheque indicates the acceptance of the offer.

Not sure if it will stand up but it should be enough to stop them cashing it unless they are serious.<<

I once tendered to the liquidator/receiver for a property and at the same time I supplied a cheque for 10% of my offered price as a deposit.

I…[Read more]

>>we have Bert Newton and the panel

take that!!!<<

Aussierogue, I cannot for the life of me understand why you bring this awfull person in the conversation.

I have to admit that he is very quick on the uptake, very quick to come back with a suitable repartee.

However, to me he comes accross so insincere (that I couldn’t possibly stomach…[Read more]

what about landlord’s insurance? is that relevant? how may that be of any advantage?

sang-froid

I have found some very interesting deals indeed… Just a matter of putting theory into practice. Anyone familiar with NSW? I’m keen to invest but am struggling for finance. Once started, then set. Anyone looking for a venture?

sang-froid

Bec, what are you saying ?

>>And make a note in the agreement that no commission will be due if the house sells for less.<<

I would hardly think that the agent will bother to bring a buyer along if he (the agent) knows he wouldn’t earn anything out of doing it.

So what is the aim actually ? To have the house sold as quickly as possible (at a…[Read more]

Oh what the hell am I complaining about ? If it wasn’t for the fact that so many agents are dumbwits it would be a lot harder to find bargains.

Most agents are actually working very hard trying to make a living and are just too busy to make life easier for people like us.

I find time and time again that they haven’t got a clue about what exa…[Read more]

I stopped at the first two.

(The first one) : A rent of $ 215 per week and council rates and Body Corporate levies totalling some $ 4,000 per year.

Thus the $ 215 per week rent is reduced by $ 80 outgoings thus giving a net rental of $ 135 per week.

Oh, I have made a mistake. What about the management fees ?

Cashflow +ve ?

Not by a long…[Read more]

Often financial advisors are driven by motives other than giving you the best advice possible because they are either employed by an institution (and thus biased towards their funds) or else they will (try to ) place you with the fund which gives them the largest fee.

There are however financial advisors around who charge you a fee and at the…[Read more]

Hi Shaun,

From what you have told us it wouldn’t be so difficult to progress towards a multi level marketing group.

Or for that matter, what about selling some franchises ?

I think Steve McKnight mentioned that he wouldn’t mind some diversication so I think he is looking for another opportunity to put some of his money to work
in another kind…[Read more]

>>That’s it. I’m selling my IPs and going into spam.<<

Very funny, Rubbachook.

Pisces

>>Julie and I are going too.

Dave<<

>>Guess we’re not invited Property Guru
Judi<<

I guess Judi, if your name had been Julie instead of Judi, Dave may well have invited YOU instead of the other Julie. []

Pisces

Manofaction you said : “I’d find somebody who needed $50-.

I’d lend the $50 to them on 2 conditions that must be rigidly enforced…..

1) They must never repay the money back to ME.
2) When they are in a position to be able to repay the $50- in full, they must find somebody else who needs $50 and lend it to them on these same 2 rigid…[Read more]

>>Chan are you having the same probs ?<<

Ginamarree, I would think that 80% to 90% of people have got SPAM problems – unfortunately.

Pisces

Celivia, if the property is 30 years old I wouldn’t be very concerned as it likely won’t get much worse than it is now.

If it were a couple of years old who knows where it would finish.

I don’t think that the suggestion to cover up the cracks when selling is a good idea without getting some legal advice first (you may need to cover it with a…[Read more]

Is it an option for one of you to retain the house ?

Taking that course a fair amount of expenses (stampduty, agent’s fees, replacing furnishings etc) can be avoided.

Yes, I realise the possible (emotional) drawback of staying put in the same place but then again, murdering money, your money, isn’t a good option either.

BTW selling a house…[Read more]

Tanya, is it an option for one of you two to retain the house and buy the other party out ?

Selling (and buying elsewhere) will bring with it additional costs which can be avoided by ‘staying put’

Pisces

Possibly 25 %

Be aware that there are other factors which decide
whether a lender is interested in lending (things like length of the commercial leases, etc.).

Pisces

Oh, there is something else guys. There is a facility in Outlook Express which one can use to automatically reject emails from certain people or emails which have a particular word (nominated by you) in the email.

Pisces

>>I got similar problems, please help.<<

Often the reason for getting SPAMS from sex sites is because one may be curious and go and visit such a site and one may thence subscribe to obtain free access by supplying them with your email address. [] []

Well Chan, you should know by now that nothing is free, there is always a price to pay.

I just…[Read more]