Richard I take it that this is a short term loan and the LVR is on the property for renovation? leaving the PPOR as collateral for the O/D?
Obviously the interest rate on this kind of loan would be markedly higher?
My wife and I have been flipping properties for over a decade now as a sideline to our regular income. We have operated under an bank overdraft system which has been great for the small scale operation we have been running.
However we have since sold the property that was the collateral for this overdraft and moved it to another…[Read more]
Just a question.
I own my current PPOR outright, but am looking at relocating and do not want to sell it, more so turn it into an investment. Somebody suggested purchasing it from ourselves through our super funds, and then using the money to pay for our new property outright. I don’t think this can happen, but would be fantastic if it…[Read more]
It has come to my attention by a builder that I use that rules for renovations in Qld have changed in regards to the cost of the renovations.
He has informed me that I can not do renovations in excess of $11,000, without employing a builder as the project manager. Is this true?
If this is the case why would anyone want to buy and…[Read more]
Whilst on capital gains, I have a question in regards to the dreaded CGT.
we sold our first home some ten years ago and with a portion of the profit we bought a block of land( not one of our better decisions). As it turned out we have had the land sit there for some time and now want to reclaim that money. Problem is, two of Australia’s biggest…[Read more]
My wife and I are currently getting ready to move from our current home. We want to buy another property before we sell our current property. That way we can move straight in, no renting in between. The bank we have our current loan with has suggested a bridging loan( obviously they would do this).
I haven’t seen too much written on…[Read more]
Some really good info there. Have already been down and checked out Hobart, and will be down to look over Launceston in a couple of weeks. We have been flipping houses on and off up here in QLD for about 15 years. Has been a nice little supplementary income, but work is taking me south. At this stage Launceston seems likely, although…[Read more]
My wife and I are looking at relocating into either Launceston or Hobart either later this year or early next year. We will be looking at purchasing shortly. I noticed you are a legal eagle and perhaps you can answer a couple of questions for me.
1. I have noticed that there is no cooling off period in Tas unlike QLD. Do the same T & C’s…[Read more]