Recent content by young_starter

Hi, I recently completed a new build, and engaged an independant building inspector to carry out the inspection at each stage of the build. Is this expense added to the cost base of the property at sale in the future, or is it a deductible expense? I'm leaning toward addition to cost...

Hi all, As mentioned in a different post, I am thinking of selling my property under vendor finance. This would mean that the buyer will sign an agreement to buy my property at a future price at a future date (3 years from today). On top of that, they will also agree to an installment...

Hi forumites, Lately I have been thinking of selling one of my properties under vendor finance. It seemed like a great idea to get some positive cashflow in this uncertain times, as my current property is negatively geared. What are the pros/cons of this? I dont know much about vendor...

ok, so from the sounds of it, the best way for now is just to transfer the 80 back into the redraw. so in the future for refinancing, it would be better to refinance based on the old mortgage, and take a LOC for the balance (equity)?

@ Dan C - purpose of the 80K equity is for future purchase of another IP. @PT_Bear - would it be wise to transfer the drawn down amount of 80k back into the redraw at this stage? their plan will only be to purchase another IP later in the year. if the 80k was transferred back to the...

Hi Forumites, My relative recently refinanced their home loan with ANZ, to access an equity from their IP of around 80k. The loan was set up so that they have an offset account, and IO repayments. The way ANZ works apparently is that this 80k equity will automatically be drawn down into...

Thanks everyone for your kind responses. I was under the impression that banks would not do progress inspections. I guess its more for a peace of mind as mentioned by Nat_Melb. I've heard stories about homes that are completed but because of some oversight there is leakage and things like...

thanks hysterical, will check them out. have you used them before? would be great if you could share your experience with them?

Hi everyone, The construction of my IP in Tarneit has started, and I was wondering if anyone here can recommend a good independent building inspector I can use to inspect at each stage of the construction? many thanks in advance.

Hi Forumites, I am currently looking for a PM in the Clayton and Tarneit areas. Does anyone have a recommendation?

hi jsoe, i am also looking to get into doing some small developments in the not too distant future. Do continue to post up some updates as to your development journey. It is certainly a very good reading material!

Hi everyone, Not sure if this question has been posted before, but here goes. Assuming I bought a land, intending to build a house on as an IP. However, I wait say 4 months after settlement of the land before building a house on it (an additional 6 months for building the house)...

sorry, but what is OSR?

+1 for me please

Thanks Devo76 and Marty for your input. I can understand the your reasoning Devo76, and with personal loans attracting a higher interest rate, it makes your decision that much easier as well. It was a very good example, and I appreciate you putting the point across. After some thought on what...