My very rough calculations are:

Your current loan $250K @ 7.5% P/I
Sale price $400K @ 7.5% P/I
Deposit $7K (assume FHOG)
Term 30 years

Current rent $285 pw.
Loan repayment on $393K = $633 pw approx plus rates and insurance pro-rated to per week amounts.

Need to then check affordability against his income…[Read more]

You have to build a team. I agree, PM is often lousy or monopolised with lazy locals in remote or mining towns.

I have a fantastic rural IP, currently yielding 47% (yes 47%) but long term yields 15%. I would not own it, however, without someone acting as PM who is not your average PM and is an investor as well.

skippygirl:)

Well..they need a venue, some IT, food and drink, a certain ambience or “vibe” to the space.

Just an idea to evaluate.

skippygirl )

Tsk, tsk, TMA, no it is not illegal.

Kids get together with their ipods and take turns plugging their ipod into an audio unit so they can listen to each other’s music or podcasts.

Beats the old LP’s and CD’s for your party. No jumping the record for a start.

skippygirl

Poor risk management in the business planning and strategy phase.

I would have thought a glaring risk to the market entry was customer confusion, and backlash from regulators and established players whose business you may threaten.

They should have mitigated those risks before they went public. They need to take a look at someone like Richard…[Read more]

Rob,

Don’t forget to evaluate ipod parties.

skippygirl

Westan we are on FIRE!!!!!!!!!!

A wonderful win against Collingwood – after playing like schoolboys for 3 quarters Terry turned the mental switch to “play like legends” and off they went. Brownie booted 5 goals – one of those all time great games.

It was hard because my daughter and her friend follow the Magpies whilst my other daughter and I…[Read more]

Scott, what’s happening with Mascot Airport – I heard there is a redevelopment plan or proposal to develop something (a hotel?) on the west side, the Cooks River or Kogarah Golf Course side?

Do you kow anything about this?

Re your observations on WC – it would be great to survey the current tenants and get some real priamry data on how they feel…[Read more]

Great info, Scott. It’s good to hear an objective report as I don’t live in Sydney.

We have a unit there (2yrs old) and in the complex (6 blocks, each max 5 storeys) there is currently zero vacancy rate, and the rent on our unit has gone up $30 per week over the last 12 months so the yields are rising. According to the property manager the last…[Read more]

Anyone??

Or would a mortgage broker like to PM me if they think they know the answer?

Cheers

skippygirl

Sorry, just want to return to the topic.

What’s the best LOC rate, 80% LVR, around $200K, freestanding houses, for family trust with company trustee (directors incomes to service etc).??

Thanks
skippygirl

Westan – what a game!!!!!!!!

Went to Telstra Dome and watched the mighty Tigers beat Port Adelaide – what a great day. Sang my lungs out.

Brownie, Richo and Pettifer were great. Didn’t look like it though during the 1st quarter – lots of moans and groans at the schoolboy level of skill. And then we were on fire – could not do anything wrong…[Read more]

Have a great trip Westan.

Wouldn’t get your hopes up just yet. We are away all of September in Europe – didn’t see much danger in being away at that time for either of us (hubby is a Hawk).

Nevertheless Terry seems to be doing something right and the management bounced back nicely from the TAC fiasco so the signs of hope are there.

Have never…[Read more]

All’s well that ends well!

After a visit to the local Centrelink office, and handing them copies of the will and the title to the said property, Centrelink are correcting the asset list for my relative and restoring her pension payments.

Having no right to any rents or profits or any sort of income until the brothers pass on or marry means it is…[Read more]

So far I’m wrong on the first point and correct on the 2nd.

Go Tigers!!

skippyygirl

Nat R,

Well you might have your opportunity soon Nat R. Docs are apparently to be available from 18th April so you can tear them to pieces then to reinforce your point.

Or…..if your are wrong…?

Cheers skippygirl

Gatsby LOL.

Bwendan, been there, had all A’s all my life(they were A’s in the 80’s) and brought home one report with a single B in Year 11 and all Mum said was “what the hell happened?”.

You are doing great, you are way ahead of other people your age, and smart enough to learn that parents are not perfect, in fact they all carry some sort of…[Read more]

Hi Marc,

The asset test is not limited to real estate in the name of a person, it can be any assets of a company or trust where the pensioner has control over the assets for example, and other situations that are assessed different from the ATO.
The situation you present however is a rather simple one.
Mum passed away and willed the property to…[Read more]

Hi MJW,

We too had a sort-of AIP going before I read John Burley’s book and then we refined it and have followed his methodology for the last 2 years. I just use a Vanguard diversified index fund (which has gone up very nicely thank you in the last year) and do automatic BPay payments on the 1st of each month for 10% of our gross income.

Then…[Read more]

Well Westan I hang on to these two facts –

1. We always win the first game of the season, its only after that we go downhill.
2. We cannot possibly be worse than Hawthorn so we will not be the wooden spooners.

Cheers, still in the yellow and black.

skippygirl