The Federal Treasurer was queried over this issue this morning on ABC Radio – said a great deal about nothing. When pushed about controlling the banks or the abilty to stop the banks from making excessive profits he continued to push that borrowers should vote with their feet if they don't like what the banks are doing.

Geoff, although you are paying for this 'service', like all other services provided by the bank (at your cost), you do not own this information – eg you pay the banks legal fees but are not entitled to their lawyers opinion.The type of valuation provided to the banks is generally the 'short form' valuation, which is not a valuation which would…[Read more]

Faith,What field -commercial, industrial, residential (single house, multi unit), multi storey)?What Specialty? New/RefurbishmentWhat area?What type of work? (repairs, maintenance, single trade works)Sorry about all the questions but you'll need to be able to answer these to find the right sort of builder?Contact the Master Builders Association htt…[Read more]

Google trusts – you should find a diy for under $500 (once you know what you require)

Thanks Richard, I transferred  as per #2 at minimal cost. Geez, they keep cutting out the lurks.

These are at two totally different ends of the spectrum Jason.The first option – buy a developed investment (house/unit) and have the benefits of rent, neg gearing losses etc & payment of outgoings, interest & the like. It is easy to get into this market, returns are reasonably secure (ie you can reqsonably accurately quantify your yield, ex…[Read more]

Will the following work? Buy it in your name, wife as guarantor. You get all income/deductions/pay all costs. In 3 years, move into the property transferring 50% ownership to your wife (at nil price). Upon eventual sale, no cgt on her proportion but you will pay 3/x * MRT * 50% (discount)  for the period which you didn't reside in the…[Read more]

With regards to the pool use – contact the secretary of the BC and request a copy of the rules of the use of the pool. You are paying for the pool, unless it is out of commission (signposted/locked off) you should be able to use it. Use it anyway, if someone asks, plead ignorant.As far as having to pay to additional fees to make up for other unit…[Read more]

Try your luck in the North Shore TImes – I know that I have actually found a few gems in there over the years, including a bricky whos advert appeared in the wrong section. (Possibly the roofing professionals at Artarmon – or contact Plumbers Supply Co-op or Reece at Artarmon they might help you out).

Reneeshen, the reason why we point out that you are going in the wrong direction is highlighted by the example below. Before you read it, how are you going to pay for (take advantage of) any negative gearing ie additional capital if you are only on benefits?Wrapper – buys @ $80k, 8% interest, $1400 insurance/rates/o.g, rent = $80 pw ($4k) – this…[Read more]

Reneeshen, the reason why we point out that you are going in the wrong direction is highlighted by the example below. Before you read it, how are you going to pay for (take advantage of) any negative gearing ie additional capital if you are only on benefits?Wrapper – buys @ $80k, 8% interest, $1400 insurance/rates/o.g, rent = $80 pw ($4k) – this…[Read more]

I'm just giving my 2 c worth – being 'wrapped' isn't a technique being used by investors – there are better ways of financing and getting security.

Richard, what would you do with the losses which are retained within the Trust? I can't see the advantage of shifting this property at this stage as it is generating a considerable loss.

It pays to have health cover & visit the dentist bi-annually for a check up (or put the same amount into an investment). But ignoring that, I'd run with Trent and try to avoid breaking your current lower fixed rate loan, why pay more than you have to? If it is a lower rate fixed loan, discuss whether or not the bank will pay you to break the loan…[Read more]

Pretty much as marc points out, pay IO on the IP (Perth), get a dep'n schedule for Perth (you won't need one for kalgoorlie until you start to rent it out). Consider moving into rental accommodation paying less than you will get from your PPOR.Pay down as much of the principal as possible on the PPOR (Kalg) as this interest is non-deductible (or…[Read more]

Domain – research. Then once you know what you are missing, contact the rea. Keep your eye on (& copies of) recent sales in the local & national newspapers & property sections. Otherwise data is generally 12 months rolling averages – not much more in the way of freebies. Due to the slow nature of real estate transactions this will be the most…[Read more]

Reneeshen, why go into a wrap if it will be cheaper, less risky and more cost effective to do it on your own ie work/save a deposit then invest. As a law student you should understand risk/reward. Wraps are high risk for no reward if you are at the pointy end of the stick. A wrap will not give you any tenure to borrow against, no recognised credit…[Read more]

RM, median house prices in Chatswood are about $1M (slightly cheaper is Lane Cove but with better access to motorways). There are a few 1950's /60's brick houses in Lane Cove West in the $800's.Some good buys around Epping, North or East Ryde but must be accessible to the new railway station (to open late 08-09 ish, like everything NSW it gets de…[Read more]

Work generally involves using a floor grinder – both noisy & messy (lots of dust) and may also require 3 phase power.There are plenty of epoxy floor finishes which can be applied over the polished concrete. Depending upon the type of wear properties required 'hydropoxy' is a less volatile/waterbased epoxy. All epoxy treatments are quite pricey…[Read more]

James, there is no special requirements to set up TIC, it is simply a nomination on the contract of sale – speak to your solicitor BEFORE signing the contract of sale.WRT determining land value – review all recent sales in the area (say within 1-1.5km radius), select the comparable results ie all 3 bedroom houses, then cull out the non-comparables…[Read more]