Hi Quantum. Half your luck….Actually good on you… Just my 4c worth. I would have thought that unless you have a ‘split’ account or loan facility, and use one split of your loan as an LOC for investment ins and outs only, and another split as an LOC for personal / household use, (ie, non tax deductable) I would think tax time would be an…[Read more]

..Haven’t read McKnights Latest book, (probably won’t now…) but it sounds like Steve has around 260 + exit strategies! [fez] [strum]

Hi. I guess another option would be to respect his wishes to leave the house for his family, as that is a pretty special thing in iteself. if it ever down the track does come on the market, I’m sure you’ll find out quickly? [strum]

Hi Snowlake,
I’m with Mortgage Hunter. If you have any choice in the matter it makes much more ‘sense’ to get this done before the official change in circumstances (based on the information you have supplied.) As a sidpoint, lenders like to see job continuity from the point of the actual trade or position. Ie. If you have three jobs in two years,…[Read more]

“If you want to protect your savings and buy assets start looking at precious metals (seek advice). You can buy silver and gold bullion from a bullion exchange in your CBD. Put it in a safety deposit box and watch as the house prices drop and you retain your wealth. Granted bullion does not pay income or fixed return, but it beats the risk of a…[Read more]

Hi Ctaing. A lot will depend on whether or not you could get information as to whether there is any issue or ‘manufacturing problem’ with this part of the machine or not. For example, if the repairer says he has not seen this happen before, or it is a rare occurance, it give you a basis to make a claim. However, if there is no ‘official’…[Read more]

Hi Mentee. Hearts in the throat eh? Anyway, if you are thinking of clauses for a contract, and or offer, there were some excellent ones in API magazine a few issues back…the wonderful work of Rob Balanda I think. I ended up typing them out for future reference and if it saves you 20 minutes I can eamil them to you if you wish. I think I did…[Read more]

Munno, are you using a solicitor or a conveyancer? What state are you in? That can make a difference. is it the vendor has changed there mind (which is their problem I think) or is it something you are unaware of such as their bank has dissallowed them from setling, for example if they owe the bank more than the home was going to be settled for.…[Read more]

So what exactly might we be chopping up?

Congratulations Paul. Disciplined approach, too much for some, but if you can do it great…..good on you for setting and reaching goals. ….and I bet there will be plenty more milestones on the way for you. All the best.[strum]

It would be a 6% return……gross. Which is the figure you see when real estate agents quote a place as having X% return. The 4.5% is your net return. So, what we need is a property with a 10% net return…..[laughing]Yeah right! All the best.

I’ll try not to be overly cynical….or bitter. You could always try raising a few thankless kids, who still do the smoking and injecting, but cost you so much meanwhile, that by the time they do leave home (early or otherwise) you cannot afford to buy anywhere decent yourself? That feels just as bad. Oh, and they could then save thousands getting…[Read more]

Your loan is only interest only for a fixed term, commonly 10 years. at that point, it then reverts to Principle and interest for the remaining 20 years, (or whatever the loan was taken out over) until at the 30 year mark it is paid off, and you own it. of course, it is ‘hypothetical’, in that who knows what you, the property or property prices…[Read more]

Not putting a stick in the spokes…..but regardless of whether the true answer is 50 or 100k, remember by far the majority of lenders require you to be able to service the loan when borrowing, making equity almost irrelevant. and everytime you ‘refinance’ your other loans are more often than not viewed as principal and interest even if interest…[Read more]

Hi Bluemist. THe section 32 is basically a vendor statement , as in something you as the vendor have to supply in order to make your house available for sale, so so have to organise or pay someone else to do so for you as you suggested. If you have had some interest in your house already, you could certainly do worse than try and sell privately.…[Read more]

Nah….I’d much rather buy one of the Fijian or French Islands advertised on the same website. Nice or what! [biggrin]Maybe I can get that twit that keeps on posting adds elsewhere on the forum ‘kindly ‘ and very persistantly requesting joint ventures in every part of the solar system to do a joint venture with me where I pay nothing and he pays…[Read more]

Sorry to hear mkc. Cleans the digestive system out I’ll bet….. Without knowing your circumstances as to why your finance fell through (servicability?) I’m just wondering if you had considered looking for finance elswhere, and as a final option with a non conforming lender as opposed to a bank. YEs, higher fees, interest etc etc, but if you have…[Read more]

Hi Batesy. If downstairs is Ok, and your heating is taken care of in both areas, for cooling upstairs why not just look at a wall mount split system. They do a great job, and there is plenty of choice, and the heating works well too, not just the cooling. all the invertor units do, is cost less to run in theory, as they take a while to kick in and…[Read more]

Hi Mark. I understand it to be 5 years. Once the credit provider has advised the CRA of a default such as yours, they are also obliged to advise them the outcome, such as any agreements reached, and or if it has been paid. If you have paid it out, it should show this, and if you are applying for any finance, you may find that mentioning it up…[Read more]

Hi Bluemist. There’s a few options you could look at, and the folowing questions/thoughts are just that, not financial advice.
Firstly, true ‘bridging type’ finance is good to stay away from in my personal opinion unless there are no other options and you ‘just have to’. However, if you own your existing place outright, and are planning to sell,…[Read more]