If you have already signed the contracts and want to change the buyer’s name, you will have to pay stamp duty again. An option would be to ask the vendor if they will allow you to sign a new contract in the new name and just cancel the old one. They should not have a problem with this as they will still get the same result.

An interest only loan…[Read more]

The credit file does not have to say whether you were declined or not. When you apply for further finance, there is an assets and liabilities section. If you do not state any liabilities but you have 6 enquiries on your credit history, they know you were declined or that you are a compulsive applicant for finance. Either way, they will not like…[Read more]

Thanks Wayne,

Happy to have a look at any hosting packages. Just flick them to me in email.

About the digital printin, I have been informed that the equipment is very expensive for a minimal return so I am still looking at the viability of providing this service.

The Mortgage Adviser
http://www.themortgageadviser.com.au

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What is that supposed to mean?

The Mortgage Adviser
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It means that you applied for a credit card on May this year and they did a credit history check on you.

The reason you may be getting rejected for a loan may be due to serviceability issues (ie: your ability to repay the level of debt you seek may not be sufficient) or that you have not disclosed a credit card on your application form but they…[Read more]

Thank you westinvest. I agree that WA is certainly the gentleman’s (gentleperson’s) State when it comes to property investing but in Sydney, I believe it is essential to protect yourself when it comes to property dealings. The best way to do this as a vendor is by holding a decent deposit.

Anyway, congratulations on your successes to date.

The…[Read more]

See what I mean Luke?

And Luci is polite!!!

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A simple solution would be to buy the new property in a company or trust name and then rent it from the company or trust. That way, every cent would be deductible.

Your problem is the perfect example as to why I always recommend using an interest only loan with offset account on your PPOR. Most people will always move PPOR at some point in their…[Read more]

Planing, nice find. I did not even know there were posts there about Derivex.

Jason, I don’t think anyone is a ‘Derivex’ advocate as Derivex is just a company name. As an Interest Free Loan Product ‘researcher’, I would say that that person has really no idea how it all works although the 20 to 1 gearing is part of the overall structure.

As I…[Read more]

I would hate this as it would make the forum very difficult to read. All you have to do is scroll to the bottom of a thread to read the last post and click on the last page number to go to the last page.

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I can see exactly how to buy and sell without deposit. I just think it is a ridiculous idea. You suggest I have a lot to learn, but I think it is you who needs an education regarding basic contract law and the cost of litigation should things fall over.

You ignored a scenario I put to you. I will offer another…

Say someone offered to buy your…[Read more]

There was really only two problems. One was an issue of control without the know-how to undertake what was required to get the business operational and the other was aggressiveness. The only way to overcome these was to get someone else to run the company. I can’t say much more.

The Mortgage Adviser
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How do ipod parties work??? Don’t they just play music? Do you mean download parties to promote theft of music over the net??? [blink]

I got the business name registered today and registered a few URLs. I hope management does not mind me posting this here but it is a retail business which I do not expect to be frequented by members of this site…[Read more]

What is the LVR against the new property?

How much is being borrowed from the friend’s equity?

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Whatever!!! <—- A very intelligent response!!!

The Mortgage Adviser
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Apostle, I agree. But you are referring to some amount being paid even though nominal. It is a lot different to no deposit at all.

As for WA, I am familiar with purchasing there. I have a place in Queens Park WA and one in Geraldton. Both of these had no ‘subject to clauses’ as I offered to remove them as a negotiating point. Also, the deposit on…[Read more]

There are pretty diagrams with colours explaining this in my computer. As I keep repeating, there were management problems and the release of information was controlled in a way I considered inappropriate.

As for how it all works, there is an easy to follow layman’s explanation of this as well. Any detail will not be released for obvious reasons.…[Read more]

Sarcasm is the predominant tool of the uneducated.

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So Terry, having said that, which is what I expected westinvest would say in response to my question, you agree that it would be far cheaper and more secure to take a deposit right?

It seems westinvest is under the impression the deposit cannot be kept if the deal falls over.

As for not paying a deposit, as a vendor, if I did not receive a…[Read more]

Surrey, I can assure you there is no shortage of willing participants to undertake this venture. The problem is accessing all the information and structures to support it. If the structure works as it was described to me, then this will happen. Just give everyone time to put the pieces together and it should all resurface in the near future. There…[Read more]