Recent content by kanad

  1. K

    400k for IP in Melbourne - Where ?

    I am a long term reader of the forum, but it is a time to ask a few question. I want to buy a IP in melbourne this year (probably 2nd half). Cannot afford more than 400K with stamp duty, land tax, LMI, strata fee etc. on top. I am realistic that at this price I can only get a unit or...
  2. K

    Will The RBA Move On Interest Rates Next Week?

    Reserve bank has increased interest rate by .25% to 4.75%
  3. K

    Relationship between council value and market value

    @propertunity - I find it unbelievable that council valuation can be that low.I bought the property in late 2008 for 400k when council valuation done on Jan 2008 was 350k. Do you mean I have the house for only 50K and rest for the land ? In 2010 rate notice they had new value done on Jan 2010 as...
  4. K

    Not allowed re-finance to have equity as cash

    Unfortunately I am stuck with a 3 yr initialperiod (1.5 yr into it) when there is a break fee. So can't re-finance with another lender. Thinking of getting a 2 yr FI loan and then re-finance with another lender. Bit disappointed with the CU although their var rate was decent when I took the loan.
  5. K

    Relationship between council value and market value

    How does the council determine the value (in your rate notice) of a property and is there a relationship with market value. e.g. if a property had council value of 350k in 2008 and bought for 400k and in 2010 the new council value is 400k can you assume the market value to be at least 450K now ...
  6. K

    Not allowed re-finance to have equity as cash

    I have a PPOR bought at 390k and now valued at 440K. I have outstanding loan of 320k. I was thinking of fixing a part of it and at the same time refinance to get some equity and put it in the offset account for future investments. 80% of 440k is 352k so I should be be able to get 32k. But the...
  7. K

    is Ringwood/ Ringwood East a good place to stay?

    I recently purchased a little further to the east at Croydon North. I would say it is quite a nice area. In fact I would suggest ringwood east over ringwood as it is more quiet, more leafy. Disadvantage is you get only one train line at ringwood east. BTW Ringwood east to city is like 45 min in...
  8. K

    I'm a working Australian

    more details from ato http://www.ato.gov.au/corporate/content.asp?doc=/content/00178930.htm&page=3&H3
  9. K

    To jump or not to jump

    I have just made an offer for my PPOR. I am an immigrant who have spent over $100000 in renting over 8 years that I have been living in Australia. Most of my investment was in stocks and my portfolio is down by 40%. So with some decent savings and FHOG + 1% stamp duty discount in Vic and a trend...
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