Total Members: 158,199

Scottsdale

  • Scottsdale changed their profile picture 6 years, 8 months ago

  • Scottsdale started the topic FHO PPoR to IP… Questions! in the forum Help Needed! 6 years, 8 months ago

    Good morning all, long time no posty. Hope you’re all well :)

    My partner and I are looking to buy a house with Granny Flat as FHO’s to save on Stamps (and potentially use the 6 Year Rule) but then turn the house part into an IP and live in the GF so we can pay extra into the mortgage/offset.

    The one we’re looking at is $750k but we only have…[Read more]

  • Yes, 100% avoid. Have heard and read many bad things about Zaki Ameer and Dream Design Do. I questioned their figures that they posted on Facebook and was ignored many times. Overstating equity gains by 50% is pretty risky :/

  • Scottsdale replied to the topic Binvested Buyers Agent in the forum Help Needed! 8 years, 3 months ago

    Be wary is all I can say… have heard stories of their bank valuer guy overvalue properties significantly http://australianpropertyforum.com/topic/10077322/1/ and providing a cookie cutter approach to buying for all their clients. There’s a good few threads on other property forums you could find with a quick Google search ;)

  • Scottsdale replied to the topic Selling Off The Plan apartment before completion in QLD ? in the forum Help Needed! 8 years, 3 months ago

    Wow… this is the exact same situation I’m in too! 1br in FV through Ironfish and only realizing the mistake now… Guessing it’s the Elenberg Fraser/Gurner Flat Iron building.

    Due to visa restrictions I can only buy brand new for the next two years and was shown this one as a good option and while it would be better stock than other similar 1br…[Read more]

  • Scottsdale replied to the topic Legal Obligation to Provide Contract? in the forum Help Needed! 8 years, 6 months ago

    Thanks for that, had no luck on Google. While there’s no defined time for VIC REA’s, it pretty much should have happened at the time he signed.

    Forgot to mention it was signed it NSW but for a QLD property though guessing it should be similarly worded for either if they have the same Act.

  • Scottsdale started the topic Legal Obligation to Provide Contract? in the forum Help Needed! 8 years, 6 months ago

    Just wondering if there’s a legal obligation for the solicitor to provide a copy of the contract within a certain timeframe?

    A friend signed the appropriate paperwork and paid the 10% deposit for an Off the Plan about 5 weeks ago but still hasn’t received a full copy of the contract. All he has are copies of what he has signed such as Disclosure…[Read more]

  • Scottsdale replied to the topic Last in the street in the forum General Property 8 years, 6 months ago

    If you don’t ask, you won’t know. I’d still go and talk to the owners. Things don’t look to be in your favourite but may get lucky and will never know unless you try. It’s not always about the $$$’s ;)

  • Scottsdale replied to the topic Stamp duty in the forum Legal & Accounting 8 years, 6 months ago

    The amount of stamp duty you are required to pay is assessed on the purchase price or the market value of the property at the date of settlement, whichever is the greater.

    https://www.revenuesa.sa.gov.au/generic-pages/i-am-a-property-ownerbuyer

  • Scottsdale replied to the topic Asset Protection in the forum Help Needed! 8 years, 7 months ago

    Good start with taking out house and landlord insurance. I hope you went with the most comprehensive options… With your house insurance make sure it covers ‘uninvited guests’. Income protection insurance would also be a good idea, especially if you’re negatively geared.

    Depending on the level of protection you want it would be worthwhile…[Read more]

  • Scottsdale replied to the topic Introduction in the forum Commercial Property 8 years, 7 months ago

    Welcome :)

    What’s your background and investing goals?

  • Scottsdale replied to the topic $10K mentoring program in the forum General Property 8 years, 7 months ago

    HCK has been around for a while and would put her in the same camp as Margaret Lomas

    As mentioned above, all the information is widely available at a fraction of the cost but where I think it would be beneficial paying such a pretty penny would be for the consistent motivation and being held accountable. But if you’re motivated enough yourself…[Read more]

  • Scottsdale replied to the topic Borrowing Extra as a Buffer in the forum Finance 8 years, 7 months ago

    Thanks for the replies. Must have misunderstood what the speaker was saying as it did sound pretty good but at least it is possible as long as the valuation comes in higher than the contract price. I’ll keep the fingers crossed for the next three years :D

    Where was that OTP Richard?

  • Scottsdale replied to the topic Buying Property/Holding property during a recession in the forum General Property 8 years, 7 months ago

    The risks for someone like you who is highly geared are very high irregardless of how the economy is going. Have you looked into a ‘worst case scenario’ exit strategy and reducing or adjusting your level of exposure? An exit plan is just as important as every other stage.

    No idea what it was in Auckland but I remember reading that the Sydney…[Read more]

  • Scottsdale replied to the topic Buying Property/Holding property during a recession in the forum General Property 8 years, 7 months ago

    The risks for someone like you who is highly geared are very high irregardless of how the economy is going. Have you looked into a ‘worst case scenario’ exit strategy and reducing or adjusting your level of exposure? An exit plan is just as important as every other stage.

    No idea what it was in Auckland but I remember reading that the Sydney…[Read more]

  • Scottsdale replied to the topic Borrowing Extra as a Buffer in the forum Finance 8 years, 7 months ago

    Buying for $410k and deposit was 10% but as its Off the Plan due for completion in 3 years I plan to have at least another 15% saved. Is asking for more solely to act as a buffer not possible?

    No PPoR so no mixing of the purpose of the loan. Tax deductible while simultaneously paying down the interest… Very nice!

  • Scottsdale started the topic Borrowing Extra as a Buffer in the forum Finance 8 years, 7 months ago

    For my first IP I’ll need to borrow $425k but was thinking if I borrowed $500k I’d then have a $75k buffer sitting in the offset just in case. Rough calculations estimate it to be just an extra $50 per week to get this buffer which I think is worth the peace of mind.

    Is this fairly common practice among investors (borrowing extra for a buffer)…[Read more]

  • Scottsdale started the topic Somersoft Website is Closing Down in the forum Heads Up! 8 years, 9 months ago

    Didn’t see this posted on here

    http://somersoft.com/forums/showthread.php?t=109759

    Q: What is happening to somersoft.com
    A: It is being archived – the site will become read-only and it will not be possible to post new discussions or reply to existing discussions.

    Q: Why archive the site?
    A: The costs of operating the site have become…

    [Read more]

  • Scottsdale started the topic Somersoft Website is Closing Down in the forum Heads Up! 8 years, 9 months ago

    Didn’t see this posted on here

    http://somersoft.com/forums/showthread.php?t=109759

    Q: What is happening to somersoft.com
    A: It is being archived – the site will become read-only and it will not be possible to post new discussions or reply to existing discussions.

    Q: Why archive the site?
    A: The costs of operating the site have become…

    [Read more]

  • Scottsdale replied to the topic MAP sessions with BInvested in the forum Help Needed! 11 years, 2 months ago

    I did a MAP session with Nathan some time last year and only have positive things to say about it… well, aside from the fact that the hour went way too fast!

    I had a lot of questions prepared beforehand and by the time the session was up, he had answered every single one quite well. Obviously he related to his own personal experience a lot but…[Read more]

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Scottsdale

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