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    Selling a property and repaying loans

    Hi all I'm about to put my house in Nowra on the market and realise some post development profit. I understand that all loans secured to the property must be repaid or a new security found. No issue there. My conundrum is another loan secured to another property. I used about $50,000 of this...
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    shop top development

    Afternoon all. Long time since ive been on here. Since the last time iv finished my subdivision/build. Extended the family and moved a new rural property. very happy to see my development over and done as everything that could go wrong did and to top it all of council cut their contribution...
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    Westpac 2 and 3 year fixed

    Hi all Just wondering how receptive Westpac have been lately. I have done ok in the past with 1 % off all my variables and lower fixed( although I haven't won yet with the fixed). Made a phone call to their retention team today in the hope of locking in 4.99% for two loans. Got a cold response...
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    When self doubt creeps in

    Hi all. I'm mid 30,s now married happy great job and a 13 month old boy. Bought a house in my early 20s and spent the rest if my 20s having the best time of my life. Late in my 20s I started to realise that apart from a sore head and some damaged brain cells I didn't really have much apart...
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    Built new house now subdividing tax ???

    Hi all My very painful long stress filled depressing attempt at being a developer is nearing the end. Encased sewer done Existing dwelling renovation done New garage done New 4 bedroom house done Now just some paperwork to finish the subdivision . My question is should I be valuing...
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    Help. price for a driveway

    Hi all I'm getting a driveway done soon and getting a friend to do it. Rough details Existing layback extended by 1 meter Double driveway with path of the side approx 8 meters long. Patio slab to the back Easy access with about 3 hours max on a bobcat. Nothing unusual. Colour in the...
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    Fixed loan break costs ??

    Hi all. I have a $250,000 loan fixed at 7.25% about to finish in 2.5 months. I asked how much the break costs would be to change this to 5.99% as offered to me on another loan. $1,450 !!!! Is this normal. It's a standard $300 fee plus $1,150 on top. Now to me the amount the bank would be...
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    Electric or town gas ???

    Hi all. I will be picking some of the final items for my IP build and as i have town gas running past my new block it got me thinking. What do people prefer. Is town gas cheaper ? I was thinking a at a minimum i would provide gas outlets for heaters , gas cook top and a BBQ. But what...
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    getting to equity during fixed period

    Quick question with hopefully a quick answer. Say you have a property worth $300,000 with a $150,000 loan fixed for 5 years. If you wanted to pull out some of that equity for additional purchase. Is this just a matter of getting another loan which would be fixed or variable in relation...
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    Did I cross my loans ???

    Sitting here having a beer and started to think about my first IP purchased in 07. Basically I was new to this and borrowed 105% the banker suggested I split the $300,000 into two loans. $250,000 secured against the IP $50,000 secured against my PPOR This was done to save on LMI Later I...
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    Subdivision costs and interest costs

    All. I know this has been discussed before but ill add my experience so far. basically i purchased a property in 2009. this property has been rented the whole time. I started the process of building a second dwelling on the back with the intention to keep and rent out. The beginning of this...
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    Feedback on a granny flat design

    Hi all. I have been hitting endless roadblocks with my development so i thought i would punish myself with looking at my under performer for a few days. Its a well located two bedder that is limited in rent due to the 2 bedrooms but being less than 200 meters to the CBD. A granny flat will...
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    In accumulation phase and upgrading PPOR

    Hi all. I assume the following has happened to others. I am in the accumulation phase with small loan on my PPOR but 90% LVR when including my two IP,s. (equity loan ) The third soon to be built should have around 70-80% LVR. Now my IPs are in central town and my medium term goal is to...
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    Cross-coll and subdivision

    Hi all. Just having a think on this rainy day. My plan has always been to build then subdivide my town property without crossing the security on completion as the new property would have a small loan and the existing is at 90%LVR and I have also given the existing a significant Reno that I...
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    CGT and subdivision

    Hi all. Just thinking about how any future CGT is proportioned when you subdivide and build. EG with some rubbery figures. Purchase price $400,000 New house built and subdivided and valued at completion $400,000 ( actual total cost to sub and build is $200,000) Existing house...
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    More space from a granny flat.

    Has anybody thought about ways to make the most of the 60sqm allowed. I guess a nice private outdoor space well landscaped may help. What about building a pergola(after building and occupancy) Then maybe enclosing it. Maybe a functional " carport" next to it. Not sure of the rules but are...
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    Can you protect against your builder going broke ?

    Hi all. Things are looking a little iffy around the world and it has me thinking. I'm ok with dropping prices( 20 year + hold time for me) I'm ok with cash flow.( have buffer and a 15 year gov contract for work) The one thing that might derail my current development is the builder going bust...
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    About to sign building contract. Any tips ?

    Hi all. I'm at the stage now where construction can start with my little development. The builder is drawing up the contracts. Price should not change from my indicative quote( I will ***** if it does) Any tips people want to share ? It is a project builder and I have built with another...
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    Dividing subdivision costs

    Hi all. Just wondering how you divide costs for the purpose of tax and loan repayments in the future. In my situation I will Build a house behind my existing IP. Build a garage and extention on the existing house. Then subdivide. I assume the cost of the new house is tied to it and the...
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    commonwealth bank drop variable rate

    http://www.news.com.au/money/interest-rates/home-loan-rate-cut-for-commonwealth/story-e6frfmn0-1226082513213 Interesting Cheers
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