PropertyInvesting.com | trakka | Activity https://www.propertyinvesting.com/members/trakka/activity/ Activity feed for trakka. Tue, 14 Apr 2026 16:05:45 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 9d8eff6876c93a52510adca58d8de22a trakka replied to the topic What type of vehicle do you have ?? in the forum Opinionated! https://www.propertyinvesting.com/topic/4381491-what-type-of-vehicle-do-you-have/page/19/#post-4525002 Tue, 23 Jun 2009 23:42:33 +0000 Couldn’t agree more, businessglobal. We think of our 2000 Daewoo Matiz as a kind of “reverse status symbol” these days. I’m not criticising those who truly value cars and have a passion for them; I think one *should* enjoy the fruits of their labours. But I think those people are a minority – most people are much more heavily influenced by what…[Read more]

]]> 9f06be4668cc300e850a8e6ff6e47f7f trakka replied to the topic Maximising borrowings using structures in the forum Finance https://www.propertyinvesting.com/topic/4390988-maximising-borrowings-using-structures/page/2/#post-4575065 Sat, 04 Apr 2009 23:41:59 +0000 Thanks, Karen, for your completely reasonable response. Thank you also for assuming that I’m raising this issue in good faith – because I am!

I guess I like accounting sheets to balance. Let’s say I have a $1M asset with an $800K debt in a Trust for which I am Trustee and a beneficiary (so I can gain control of the asset), and I am guarantor for…[Read more]

]]> 666768dcd32ac2704b03a45e61b66ecd trakka replied to the topic Maximising borrowings using structures in the forum Finance https://www.propertyinvesting.com/topic/4390988-maximising-borrowings-using-structures/page/2/#post-4575063 Fri, 03 Apr 2009 15:15:59 +0000 bfantastic wrote:
if you have assets that pay for themselves your actual borrowing power is unlimited.

‘taint necessarily so.

1) Banks often only allow you to count approx 75% of rental income, which often changes your positive cashflow to negative cashflow.

2) Many lenders have an absolute lending limit, ie limit their exposure per customer,…[Read more]

]]> 4a590013104b2fe7e43d0c0da664ceb2 trakka replied to the topic how did Steve McNight finance his properties? in the forum Finance https://www.propertyinvesting.com/topic/4391955-how-did-steve-mcnight-finance-his-properties/page/2/#post-4580810 Fri, 03 Apr 2009 14:44:23 +0000 neilvs wrote:
After all, the problem here is that the banks only recognise somewhere between 65% and 80% of the rental income of the property… Let's be positive and assume the bank recognises 80% of the rental income. That still leaves a shortfall of the other 20% – which they're going to come looking for in one's personal income. But like i…[Read more]

]]> 84e80bbf9a03e1d1e6f03de1f9cacb96 trakka replied to the topic Be aware of the differences in recourse - contract law (between buyers and sellers) and tort law (involving 3rd parties) in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4391686-be-aware-of-the-differences-in-recourse-contract-law-between-buyers-and-sellers-and-tort-law-involving-3rd-parties/#post-4578772 Wed, 16 Apr 2008 04:01:48 +0000 Sure did – that was us in "Our Property Nightmare". I hope if I ever again appear in API, that it's in a column that's less of a dubious distinction.

]]> cc777530bfc996c1c454d595b5e55bbf trakka replied to the topic building costs per square metre in Qld in the forum Value Adding https://www.propertyinvesting.com/topic/4391765-building-costs-per-square-metre-in-qld/#post-4579217 Sun, 30 Mar 2008 23:03:56 +0000 Wow, you guys are all talking way lower figures than I'd anticipated. I'd planned on budgeting >$2,000/m2 for my new PPR. Are you guys talking brick and tile Tamawood-style project homes?

]]> 3eb5d023ab751dbb58a6ec4fcda84bce trakka replied to the topic investing in student accomodations in the forum The main problem with https://www.propertyinvesting.com/topic/4392776-investing-in-student-accomodations/#post-4585240 Sun, 30 Mar 2008 23:00:50 +0000 The main problem with investing in student accommodation – as in UniLodge etc – is that you can usually only get 60% LVR, which makes them not really stack up as an investment because you need to put too much equity in. If you mean buying a regular house and setting up as a "rent by the room", then it really depends on the particular property as…[Read more]

]]> 735f52b904edbf29c8af43297882a528 trakka replied to the topic PM signed up at tenant at incorrect rent!!! in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392551-pm-signed-up-at-tenant-at-incorrect-rent/#post-4583854 Wed, 19 Mar 2008 22:38:13 +0000 Yes, if they're on a fixed-term lease you must honour it. It's only if they're on periodic ("month-to-month") that you can give them notice to leave. Your best bet, if you want it vacant, is to offer the tenants an incentive to break the lease, such as assisting with their moving costs.

]]> d30c39743ad3f95734a98b40ee5cc423 trakka replied to the topic Introduction in the forum General Property https://www.propertyinvesting.com/topic/4392619-introduction/#post-4584171 Thu, 13 Mar 2008 21:26:30 +0000 Welcome, Michelle and Colin! Good luck on your journey.

]]> 3f71cf9c047573c48c28a4dbcdf29c26 trakka replied to the topic Refunding of LMI in the forum Like the way you think, https://www.propertyinvesting.com/topic/4392577-refunding-of-lmi/page/2/#post-4583995 Mon, 10 Mar 2008 05:56:06 +0000 Like the way you think, Linar…

]]> 638ff0c3a7dbdfde7e265fd7e06a9b67 trakka replied to the topic Differences between IO and a LOC in the forum Finance https://www.propertyinvesting.com/topic/4392589-differences-between-io-and-a-loc/#post-4584037 Sun, 09 Mar 2008 08:45:57 +0000 A normal interest-only loan has a fixed amount, say $100K, and the $100K is all paid out when the loan is settled. Interest is payable on the full $100K, whether you've spent it or not.A line of credit is more like a credit card with a $100K limit. If you don't use any of it, you don't pay any interest. You can take out $50K, then repay it, and…[Read more]

]]> 44a556cc34b87fda90592942c03283e5 trakka replied to the topic Refunding of LMI in the forum Help Needed! https://www.propertyinvesting.com/topic/4392577-refunding-of-lmi/#post-4583990 Sun, 09 Mar 2008 01:35:04 +0000 Yes, I usually would. But others may not. I'm just suggesting what their thinking might be.

]]> 5033c4cc8039e9960bd3c40670506fca trakka replied to the topic Refunding of LMI in the forum Help Needed! https://www.propertyinvesting.com/topic/4392577-refunding-of-lmi/#post-4583988 Sat, 08 Mar 2008 23:21:00 +0000 JL wrote:
Buisiness will occur anyway, if you give refunds or not.

I know that even if I have enough deposit that I don't need LMI, I may choose to go for a higher LVR lend and pay LMI because it leaves my equity free to get into more deals. Knowing that if I manufacture growth – which I aim to do immediately after purchase – I can obtain a…[Read more]

]]> 83b7db8e46853a43dff0a04ae65669c9 trakka replied to the topic Breaking purchase contract in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392578-breaking-purchase-contract/#post-4584001 Sat, 08 Mar 2008 22:10:10 +0000 Good idea, but it's not right next door, SNM. It's "next door but one" and 80m away. Good suggestion though. Perhaps Ozduke can buy all THREE

]]> b4bb0149038b2238a256973eca093413 trakka replied to the topic PM signed up at tenant at incorrect rent!!! in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392551-pm-signed-up-at-tenant-at-incorrect-rent/#post-4583848 Sat, 08 Mar 2008 22:08:42 +0000 I think asking them to waive their fees for a year is a bit rich. And possibly counter-productive – what's their motivation to give you good service if you're not paying them anything? You are not going to be restored to the position of having the higher rent that you wanted and a 12-month lease, so forget that. Aim to compromise and achieve the…[Read more]

]]> c5cd0310e2792852ff58d62ad8541719 trakka replied to the topic Refunding of LMI in the forum Help Needed! https://www.propertyinvesting.com/topic/4392577-refunding-of-lmi/#post-4583986 Sat, 08 Mar 2008 21:32:37 +0000 JL, if you're having difficulty grasping this concept, consider this analogy. You buy a year's worth of car insurance, but after 6 months you sell the vehicle. You can get a refund on the remaining 6 months of car insurance.LMI is like "default insurance", but because the value of the underlying asset increases, you use it up unevenly – more…[Read more]

]]> 853484011ed4554c2e0a3284a3e9dffe trakka replied to the topic PM signed up at tenant at incorrect rent!!! in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392551-pm-signed-up-at-tenant-at-incorrect-rent/#post-4583846 Sat, 08 Mar 2008 07:52:13 +0000 I think that the agency realise this PM was no good and they're probably having a horrific time trying to sort out her mess. I would have thought they'd be pretty sympathetic to your situation. Were you at all understanding about the fact that the current staff had nothing to do with this stuff-up, or did you go in angry with them? If it's at all…[Read more]

]]> 32f1ea77bb58a751386045acac7ece1d trakka replied to the topic Breaking purchase contract in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392578-breaking-purchase-contract/#post-4583997 Sat, 08 Mar 2008 07:45:57 +0000 I think that if the deposit is enough to cover their reasonable costs – ie at least $5 or $10K, they'll probably just take your deposit and put the property back on the market.If you got away with a tiny deposit though, eg $500, and they get wind that you're only pulling out because you're not happy with the deal that you've made (rather than due…[Read more]

]]> 958249e2b63ba51b449a81c5f6f4fc67 trakka replied to the topic Refunding of LMI in the forum Help Needed! https://www.propertyinvesting.com/topic/4392577-refunding-of-lmi/#post-4583980 Sat, 08 Mar 2008 07:41:42 +0000 I've actually had a refund previously, so I know a wee bit about this. As Richard has said, it depends on how long you've had the loan. Though the proportion isn't straight line – you lose most in the first month, and I understand that the refund drops down to zero after 12 months. Even after 6 months, you wouldn't get half back, you may get a…[Read more]

]]> 97f96c4e07f9e562130e170cee5da0f9 trakka replied to the topic Chan and Naylor accountants in the forum General Property https://www.propertyinvesting.com/topic/4392086-chan-and-naylor-accountants/page/3/#post-4581558 Sat, 08 Mar 2008 07:13:19 +0000 Chan & Naylor never claimed to be the cheapest. I have no idea whether they're the best or not, but I'd be willing to bet they're worth every cent they charge. I don't think that debating fees is appropriate in this forum.

]]> 3d6ddb3b28fdd90ec09e4a238402e446 trakka replied to the topic Conveyancing Firm Vs Lawyers and other questions. in the forum Help Needed! https://www.propertyinvesting.com/topic/4392533-conveyancing-firm-vs-lawyers-and-other-questions/#post-4583783 Mon, 03 Mar 2008 20:22:15 +0000 I don't dispute what SNM says, but personally, I think the additional expense for the comfort of having a solicitor "in the loop" is well worthwhile. Of course, this is only if your solicitor is a high quality property lawyer; not if they're just the local solicitor who does a bit of everything. We're talking a difference of < 0.1% of the tr…[Read more]

]]> 08a07aee0afc8e2798ccc476f608f033 trakka replied to the topic Brisbane Accountant Specialising in Property in the forum I head north rather than https://www.propertyinvesting.com/topic/4392517-brisbane-accountant-specialising-in-property/#post-4583690 Mon, 03 Mar 2008 08:04:44 +0000 I head north rather than south, and use Active Financial Answers in Maroochydore. Extremely knowledgable about structures and asset protection for property, in particular.

]]> ec24f6ec32dbcf4aa78e64b6344ab5cf trakka replied to the topic Brisbane Accountant Specialising in Property in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392517-brisbane-accountant-specialising-in-property/#post-4583690 Mon, 03 Mar 2008 08:04:44 +0000 I head north rather than south, and use Active Financial Answers in Maroochydore. Extremely knowledgable about structures and asset protection for property, in particular.

]]> 87aaa4a69dc0684a5c13bfde7649c2bf trakka replied to the topic Costly tenant - ongoing issues! in the forum Firstly, can you get a https://www.propertyinvesting.com/topic/4392530-costly-tenant-ongoing-issues/#post-4583770 Mon, 03 Mar 2008 08:01:56 +0000 Firstly, can you get a better PM, who is more in-tune with resi property management?Can you get somebody – maybe even a fellow forum member – to go and check the place out and let you know how things are looking?

]]> 0c558685a6b678efd9773263e8683afa trakka replied to the topic 24 bought my first IP and looking to renovate - help! in the forum I think it's very hard to go https://www.propertyinvesting.com/topic/4392516-24-bought-my-first-ip-and-looking-to-renovate-help/#post-4583687 Sun, 02 Mar 2008 03:43:24 +0000 I think it's very hard to go past Ikea for cost-effective kitchen cabinets (eg Udden range) and bathroom vanities. Check out their range at http://www.ikea.com.au so you can pick what you want before you go.

]]> 5eebbb0e89c4b641c85d3724e7e1d61e trakka replied to the topic Can someone please give me ideas whether and how I can overcome these 2 obstacles to start with property investment in Melbourne in the forum Help Needed! https://www.propertyinvesting.com/topic/4392490-can-someone-please-give-me-ideas-whether-and-how-i-can-overcome-these-2-obstacles-to-start-with-property-investment-in-melbourne/#post-4583582 Sun, 02 Mar 2008 02:42:04 +0000 MB = mortgage brokerAnd welcome to Australia

]]> a31d82e85e55070183180af7a158a125 trakka replied to the topic Can someone please give me ideas whether and how I can overcome these 2 obstacles to start with property investment in Melbourne in the forum Help Needed! https://www.propertyinvesting.com/topic/4392490-can-someone-please-give-me-ideas-whether-and-how-i-can-overcome-these-2-obstacles-to-start-with-property-investment-in-melbourne/#post-4583579 Sat, 01 Mar 2008 21:25:24 +0000 djac wrote:
What do you mean by I.P. and P.M?

IP = investment propertyPM = property managerGreat source for these and other terms: http://www.somersoft.com/forums/showthread.php?t=9382

]]> 2985083876d5eced645ae5bdeba0fd6a trakka replied to the topic Can someone please give me ideas whether and how I can overcome these 2 obstacles to start with property investment in Melbourne in the forum Help Needed! https://www.propertyinvesting.com/topic/4392490-can-someone-please-give-me-ideas-whether-and-how-i-can-overcome-these-2-obstacles-to-start-with-property-investment-in-melbourne/#post-4583578 Sat, 01 Mar 2008 21:22:25 +0000 djac wrote:
I'd rather take over existing repayement with the original loan remaining with the current owner/investor

I'm suspecting you're from the USA; unfortunately this kind of arrangement isn't possible in Australia. Actually, not in exactly the way that it's done in the USA, but you may be able to buy via a wrap or lease option.

djac wr…[Read more]

]]> 76710d835b19438689a678acd3f7b8ee trakka replied to the topic Can someone please give me ideas whether and how I can overcome these 2 obstacles to start with property investment in Melbourne in the forum Help Needed! https://www.propertyinvesting.com/topic/4392490-can-someone-please-give-me-ideas-whether-and-how-i-can-overcome-these-2-obstacles-to-start-with-property-investment-in-melbourne/#post-4583575 Sat, 01 Mar 2008 20:30:54 +0000 Financing is now so complex and varied in this country (thanks to banking industry deregulation!) that I wouldn't talk directly to a bank for anything other than the most straightforward of situations (and I wouldn't do it even then). Unfortunately there are very few knowledgable staff in branches anymore; the branches are really just processing c…[Read more]

]]> ace41767f7a3079dd858c35fb1bfc2e0 trakka replied to the topic Copyright Issue with Integrity in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392511-copyright-issue-with-integrity/#post-4583648 Sat, 01 Mar 2008 04:59:17 +0000 They can copyright their CAD file, but they don't own the design. So you don't own their digital CAD file, or any print-outs that they produce from that file, but the original hand-drawn designs still belong to you (or the draftsman, depending on your arrangement with him). Copyright is not a blanket thing that covers every aspect of the document;…[Read more]

]]> 73f1daa71a96915174819dd664744254 trakka replied to the topic Advice on Student Accomodation in the forum Help Needed! https://www.propertyinvesting.com/topic/4392504-advice-on-student-accomodation/#post-4583616 Fri, 29 Feb 2008 07:15:33 +0000 Because only students can (practically) live in it, you'll get a lower LVR, only 60 or 70%. For me, that's the main disadvantage.

]]> 4b1c8ada555c6e0911d8adb3615e1098 trakka replied to the topic Tenancy Application - PM won't provide details to landlord in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392453-tenancy-application-pm-wont-provide-details-to-landlord/#post-4583432 Thu, 28 Feb 2008 03:01:59 +0000 I'm having trouble making clear the distinction between information, and "the entire application". Let's see if some examples (even if imperfect) give the idea.To check their credit, your agent may need their TFN, DOB, maiden name, etc. The agent uses this info to ring the credit checkers, confirm they have the right person, then get the credit…[Read more]

]]> 6957763bef21c09f8b91d5dd84685d5f trakka replied to the topic Tenancy Application - PM won't provide details to landlord in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392453-tenancy-application-pm-wont-provide-details-to-landlord/#post-4583429 Thu, 28 Feb 2008 01:09:26 +0000 OK, we could speculate all day (or for several days). i just rang the Office for the Privacy Commissioner, and exactly what I suspected is true, is the case.When a tenant gives you as the landlord (without an agent) an application form, they're choosing to give you that information, and that disclosure is not covered by the Privacy Act.When a…[Read more]

]]> 900a5e9c9c4078fd3d2b7282e8309901 trakka replied to the topic Do you reward your tenants? in the forum Agree with JL re asking the https://www.propertyinvesting.com/topic/4392465-do-you-reward-your-tenants/#post-4583501 Wed, 27 Feb 2008 21:24:36 +0000 Agree with JL re asking the tenants if they want a/c and heating, and if they can pay more for it.I find that you can make your tenants happy even with gestures that cost nothing. For example, just keeping them informed! If they ask for a repair, and it's going to take more than a day or two, I drop them an email apologising for the inconvenience…[Read more]

]]> e041b304ffefda74c4136e1820750263 trakka replied to the topic Tenancy Application - PM won't provide details to landlord in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392453-tenancy-application-pm-wont-provide-details-to-landlord/#post-4583427 Wed, 27 Feb 2008 20:41:24 +0000 Linar wrote:
The solicitor's interpretation of the RTA is bollocks.  The application for tenancy is, by its very nature, an authority for the customer's (tenant)  information to be supplied to the client (you).  You have instructed the PM to be your agent (agent being a person who acts for you), so if they are entitled to look at the in…[Read more]

]]> 7f7d1f7d788939a0b2241ec687ce2069 trakka replied to the topic do i still need to offer a deposit??? in the forum General Property https://www.propertyinvesting.com/topic/4392454-do-i-still-need-to-offer-a-deposit/#post-4583441 Mon, 25 Feb 2008 23:48:11 +0000 Offer at least some deposit, even $100. Isn't your deposit your "consideration" for entering into the contract, and without offering any consideration, you can't bind the vendor if they, for example, get a better offer? Not sure – what do the legal eagles say?

]]> 7f7d1f7d788939a0b2241ec687ce2069 trakka replied to the topic do i still need to offer a deposit??? in the forum General Property https://www.propertyinvesting.com/topic/4392454-do-i-still-need-to-offer-a-deposit/#post-4583440 Mon, 25 Feb 2008 23:48:11 +0000 Offer at least some deposit, even $100. Isn't your deposit your "consideration" for entering into the contract, and without offering any consideration, you can't bind the vendor if they, for example, get a better offer? Not sure – what do the legal eagles say?

]]> 96b7703cfc32889f9f169aa6c06e7f1d trakka replied to the topic Negative Gear or Cash Flow positive in the forum General Property https://www.propertyinvesting.com/topic/4392350-negative-gear-or-cash-flow-positive/#post-4582934 Mon, 25 Feb 2008 21:18:21 +0000 Good morning. Don't be embarrassed – it's difficult to draw the line between making the explanation detailed enough, but not overwhelming you! So when you want more, ask away.The first issue is protecting yourself from litigation, divorce etc – as you say, "asset protection", and is a reason you don't want to be cross-collateralised.If you use…[Read more]

]]> 04b8a2ae61a524f4b3ebf80fa53c6484 trakka replied to the topic Tenancy Application - PM won't provide details to landlord in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392453-tenancy-application-pm-wont-provide-details-to-landlord/#post-4583418 Mon, 25 Feb 2008 09:30:41 +0000 I think your having been sent the applications in the past was unusual. I've had about 20 tenants over about 15 years and about 7 properties, and I've never seen an application. I think that you should be allowed to have any relevant reassurance that you want – eg if they're on a tenancy database, if they've been bankrupt, or if they've ent…[Read more]

]]> 2e210d1432d2ccc157890740861b0f74 trakka replied to the topic Tenancy Application - PM won't provide details to landlord in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4392453-tenancy-application-pm-wont-provide-details-to-landlord/#post-4583416 Mon, 25 Feb 2008 07:56:05 +0000 Why do you want to see the application itself? I usually have the PM ring me and give me a few salient points eg "They've been employed by Telstra for 3 years and are still employed there, they last rented in Geelong and the PM there says they were great tenants, there'll be 2 adults and 1 dog living in the property, and they want a 6 month…[Read more]

]]> 043eaa0eab8b8555223a66f0f8f50f03 trakka replied to the topic Negative Gear or Cash Flow positive in the forum General Property https://www.propertyinvesting.com/topic/4392350-negative-gear-or-cash-flow-positive/#post-4582932 Sun, 24 Feb 2008 21:11:06 +0000 When I referred to 12%, I meant that you usually have to pay approx 12% for a second mortgage or vendor finance, and I was quite happy to pay this much interest, but the vendors accepted my offer of 9%.History: yes, I started smaller, but let's say I climbed the curve pretty steeply as I gained confidence. I bought maybe 5 or 10 standard…[Read more]

]]> 6eed42c158c05b97fb19a7082258a0b4 trakka replied to the topic My first sub-division! in the forum Well done, Lisa. I must say https://www.propertyinvesting.com/topic/4391910-my-first-sub-division/page/2/#post-4580488 Sat, 23 Feb 2008 00:40:24 +0000 Well done, Lisa. I must say I didn't think it could be done, but I'm delighted that I was wrong! Better find me a friend in my Council….

]]> 2142392a4eefdfda5b1c98b532dc2165 trakka replied to the topic Good tenants or Good rent?????? in the forum Help Needed! https://www.propertyinvesting.com/topic/4392430-good-tenants-or-good-rent/#post-4583309 Fri, 22 Feb 2008 22:01:26 +0000 I wouldn't be without an agent. It's not because you can't arrange for repairs, sure, you can do that. But there is a lot of complicated legislation that agents have to keep on top of to ensure that everything is done properly. For the 90% of the time when everything is straightforward, yes, it's "money for jam". For the other 10% of the time,…[Read more]

]]> 561ffca561b562198d04264f7122fcde trakka replied to the topic Selling portfolio Taking profit and waiting for better days! in the forum General Property https://www.propertyinvesting.com/topic/4392164-selling-portfolio-taking-profit-and-waiting-for-better-days/page/2/#post-4582018 Thu, 21 Feb 2008 22:23:12 +0000 salacious wrote:
But how high do you think interest rates will go?

As per my last post, I think another 0.5 or 0.75% will be about it. The 1, 3, 5, 7, and 10 year fixed rates on offer with most banks are all within 0.1%; suggesting that they're predicting very stable interest rates in the coming years.

salacious wrote:
Some investors have more…[Read more]

]]> 210d312abefbe855f5dea2b5286d52d3 trakka replied to the topic Price for garden clearup?? in the forum Help Needed! https://www.propertyinvesting.com/topic/4392407-price-for-garden-clearup/#post-4583185 Wed, 20 Feb 2008 22:04:02 +0000 I may be wrong, but my understanding is that you can't require a tenant to do any garden work – either that, or it's unwise to do so in case they hurt themselves and decide to sue you. (Can't remember, the issue came up years ago.)In any case, I wouldn't have thought that garden tidying was essential work, but probably a good idea to reduce risks…[Read more]

]]> 4bae4108cc069ed248b7378f8a5153f0 trakka replied to the topic Negative Gear or Cash Flow positive in the forum General Property https://www.propertyinvesting.com/topic/4392350-negative-gear-or-cash-flow-positive/#post-4582930 Wed, 20 Feb 2008 21:09:24 +0000 Thank you, Boing, for your kind words.Vendor finance… look, it is difficult to get on established property, no two ways about it. (Developers are quite likely to consider vendor finance, but I prefer to buy something that I can instantly manufacture equity in, and that's usually not a new-build.) I think it's just a numbers game. I made about 1…[Read more]

]]> 734963144536201565555f7d92f9eef2 trakka replied to the topic Renovation adding value to your property in the forum Value Adding https://www.propertyinvesting.com/topic/4392369-renovation-adding-value-to-your-property/#post-4583042 Wed, 20 Feb 2008 07:36:54 +0000 I got a reply from the "serial renovator" ; her position is that she's not doing building work because she's not doing structural work. I believe that the QBSA (here in QLD) would disagree with this interpretation and consider that she's renovating illegally. And yes, in QLD I think you're obliged to provide a 6 1/2 year warranty on all…

]]> 2797e42ad4915216b0b8dc97e3e6b2fc trakka replied to the topic newbie - cost of renovations in the forum Value Adding https://www.propertyinvesting.com/topic/4392393-newbie-cost-of-renovations/#post-4583123 Tue, 19 Feb 2008 20:26:39 +0000 If you can do all this work < $100K, you've gotten a bargain! People doing renos for $20K 1) aren't adding on rooms, they're probably doing cosmetic stuff, and 2) many are doing illegal renovations. In most (possibly all) states of Australia it's illegal to project manage works over a certain value – about $10K retail value, not what it would…[Read more]

]]> 6743d1529bbbfe96e25509c93637cca9 trakka replied to the topic Negative Gear or Cash Flow positive in the forum General Property https://www.propertyinvesting.com/topic/4392350-negative-gear-or-cash-flow-positive/#post-4582928 Tue, 19 Feb 2008 20:06:43 +0000 nejas wrote:

trakka wrote:
Just this month I've negotiated to purchase a property with the following numbers: purchase price $600K, vendor finance $150K (25%, 9% interest payable monthly, balloon payment at 1 year), yield at settlement 9.5%.

Hey trakka I'm fairly new to the IP arena can you please explain when you talk about vendor finance,…[Read more]

]]> 8095c77207417202a90d75e27e062ce4 trakka replied to the topic Investing Full-Time in the forum I've PM'd Linar. https://www.propertyinvesting.com/topic/4389933-investing-full-time/page/2/#post-4569392 Tue, 19 Feb 2008 19:33:18 +0000 I've PM'd Linar.

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