Thanks very much… you guys are making us blush. []

I’m pleased that our efforts are appreciated.

Cheers

Stu…& Josie

Property & Finance News
at http://www.prosolution.com.au

I can’t see any issues with it so long as the property will be used purely for investment.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Good one Dave!

Oh by the way, I am working more to earn more because I want more… so I’m probably adding to this…sorry.

People are working more, earning more, paying more and want more. I think that bar has definitely lifted.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Ish

It may be classified as a commercial property for finance purposes (but depends on the zone and the lender). They might accept it as a residential property but they certainly would not take into account the office rental income in their serviceability calc.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Call Homeloans Ltd – they should be able to help you out. http://www.homeloans.com.au/

However, if you are not earning any income then please consider the risks with increasing your borrowings. What happens if interest rates increase? What happens if you have a vacancy? Just be aware so you are making an educated decision. My advice would be: 1.…[Read more]

I got this from Moores Legal website (www.mooreslegal.com.au)

quote:What is a Vendors Statement?

Before a Contract is signed for the sale of real estate a Vendor must provide to a Purchaser a Vendors Statement as required by Section 32 of Sale of Land Act. Vendors Statements are also known as Section 32 Statements.

The Vendors Statement gives…

[Read more]

I would definately say the car loan. However, check for early repayment fees. Sometimes you can avoid these by paying $14,999 and leaving $1 in the loan.

As a general rule, always pay the higher interest bearing debt first.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Guys

I have finished it. It’s going through the editing stage. I hope to have it ready in the next couple of weeks.

Please manage your expectations… you start to worry me when you use words like “masterpiece”. Please, keep expectations low. That way they are easy to exceed.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Excellent post Ish.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi

There are heaps of Case Law and tax rulings on this. It’s a very messy area. You can claim interest cost, etc. in some circumstances. Definitely refer to your tax adviser.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

You would need to consider foreign exchange risk.

Aust. banks will not lend against properties located outside of Australia… the US is probably the same.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

In the absence of another answer…I would say an opportunity. But perhaps stay away from the new developments.

quote:Yes you can buy a 1br unit for less than 60K and rent it out for approx. 100 a week…..

What more do you want?

Try no to over analyse.

By the way, if it’s truly a good area then perhaps people on this forum may not want to say…[Read more]

Hi Keesha

Welcome to the forum.

Purchase a copy of Australian Property Investor (“API”) magazine. In the back is a State based post code list. It lists the average rental yield for each post code. That might be a good start.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Policy cover varies greatly amongst insures and therefore it is not always meaningful to compare premiums. In addition, some insurers have higher claim approval stats than others (no use having insurance if they don’t pay when you put in a claim).

Perhaps consider using a licensed insurance broker. As Del alluded too – there is a number on our…[Read more]

Yes there are a few lenders that will do a 90% lend with no genuine savings. BankWest & IMB are a couple off the top of my head.

A lender will want to make sure that you have sufficient funds before they give you unconditional approval.

Re: short fall. How about personal loan (but must be able to service), Sell assets, borrow from family,…[Read more]

You don’t have to refinance to another lender. You can stay with the same lender and just renegotiate or vary the mortgage based on a new valuation. You need this valuation to increase by approximately 40% to ensure you are able to pull out the full deposit (assuming a 70% LVR).

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

The ENJOLady

It might do. If she borrows more money then her payments will change. The lender need to complete a new assessment to ensure she is able to repay the loan (i.e. they will look at P&I repayments not IO). Secondly the lender will probably want to see another income source so the borrower is not over reliant on rental income. Things you…[Read more]

Hi Wte48b

Re: valuation. If you feel that the value is not adequate then ask the broker to negotiate with the lender or perhaps consider another lender. For example, perhaps you should have been there when the valuation was done to ensure the valuer is aware of all the market evidence in the area. How about asking if the lender will accept a…[Read more]