The house is opposite the railway line so no houses across the road, just the railway reserve, and luckily the railway line itself…[Read more]

When I registered there was a free guest login – sorry everyone, I thought it was a good free resource but maybe lots of people registered and now they are charging so forget it.

skippygirl

Have you tried Lewis O’Brien – he is in Balwyn, but he does vendor terms contracts for properties everywhere, it doesnt matter.

Details below.

Cheers
skippygirl

Lewis O’Brien

Commercial Lawyer

Ph (03) 8801 0111

Fax: (03) 9878 4906

Cheers
skippygirl

skippygirl[bonjour]

skippygirl [blush2]

If you are going to Nova Scotia I am interested in the investment market there too if you come across any usefule tips pls.

cheers
skippygirl

God info on the correct notices etc.
Don’t know about trying to apply for a hearing from i/state, though. Hope it doesn’t get to that.

Cheers
skippygirl

A couple of spelling errors e.g. expenses, usually.

skippygirl [blink]

I’m beginning to form an idea to investigate – that maybe we can buy the land from him on the layby basis (taking title but with separate loan agreement to pay $xx per week so he has an income) and lease the land out for something (maybe horse agistment) whilst we then see if we can subdivide the land and build enviornmentally…[Read more]

skippygirl

Pud I’l check out the link.

Terry do you know what sort of loan product Pud is referring to i.e. an IO loan to someone in their 80’s with no income, secured against vacant land, no repayments (capitalising the interest I guess)?

When he passes away can the 10 nieces and nephews…[Read more]

The problem is not the life tenancy in the house – that’s oK, and lucky for him in that he can live rent free.

The problem is the large block of (now valuable )land he owns, which he bought 60 years ago intending to become a hobby farmer but…[Read more]

skippygirl

Fernfurn I do have to check the covenants an dany heritage overalys, but on the face of it the house is an original 1940’s and supposedly once was AV Jennings’ home, so I am anticipating demolition etc will be out.

Melmac it is blue chip residential so backpackers etc wouldn’t…[Read more]

The area is chockers with families and the local child care centres have waiting lists. It is a high income area and the local primary is full to capacity.

I will have to check the zoning – is a child care centre a permissible use under a residential zoning usually?

I gather they are valued by the number of…[Read more]

Being Melbourne Cup week and being away interstate for work I haven’t been able to go see the agent and check 32’s etc. or find out the vendor’s situation. Once I see the zoning I can research what is permitted. All I know is…[Read more]

Can I just ask for a little more step-bystep info about how you did this?

Sounds like you bought the block of 6 units on one title.
You said you converted to strata and then did you transfer 3 titles into the Trust and keep the 3 titles for othe ones you refurbed?
After the refurb did you have the refurbed 3 units revalued and pull out…[Read more]

Then you need to also look at the final back end profit made when he refinances and pays you out and your total return will be sizable.

skippygirl

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]

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:)

Just an idea to evaluate.

skippygirl )

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

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]

Don’t forget to evaluate ipod parties.

skippygirl

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]

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]

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]

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

Cheers

skippygirl

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

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]

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]

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]

Go Tigers!!

skippyygirl

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

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]

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]

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]

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

When the tenant moved into my regional property last June and I didn’t have a PM yet I sent the tenant a letter saying welcome and outlining how to contact me (e.g. SMS my mobile and indicate urgency), and other important matters.

But I now have someone local to look after it for me, I outsourced it.

skippygirl ) (No. 3 post Steve) [biggrin]

I just wish someone would tell the seminar promoters that I am sick of the super long, buy-the-template-fill-in your-blurb “brochures” that always start, “Dear Friend” (and that is usually followed by “Monday 10.03 am” or similar) and then proceed to reel off paragraph after paragraph of usually unsubstantiated hype…[Read more]

I noted down from a “stab in the ribs” from Steve that I have been complacent and kept 2 underperforming properties and I really can’t ignore them any longer.

Also, I am not being accountable for meeting my goals. I have them written etc but there is no accountability if I don’t…[Read more]

Really appreciate your comments.

Cheers
skippygirl

I am particularly interested in the comments about lack of shopping – I had been told that a shopping centre of sorts was being built over the top of Wolli Creek station i.e. supermarket/convenience, video stores, restaurants etc for the high income renters to pick up supplies on their way off the train to…[Read more]

Yes there are lots of others like you. My partner, the love of my life, is an entrenched employee with the corresponding mindset. He wouldn’t dream of not working at the PAYE gig whilst I could see him handling alot of aspects of the IP’s eg contractor management, contract negotiations, project management etc.

But investing is…[Read more]

$4.99 at Target, I gave this book to one of my children for Xmas after going to Steve’s seminar.

One of the most important books I could ever give her.

Cheers

skippygirl

Do some searches for lease options and there are lots of resources for them.

Some South Aussies might help also.

Cheers
skippygirl )

2004
Set goal of 10 new IP’s and bought 3. 1 property to be sold on vendor terms held me up (and my LOC)and is still holding me up.

Aimed to put “team” together – found most of them.

Aimed to read 20 investment books/tapes/CD’s etc and did.

Automatic investment plan worked all year. PPOR debt way down, net…[Read more]

Nothing wrong with that, but if you refinance, then watch the difference between what you owe on the property and what the option…[Read more]