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  1. Lotana

    Redrawing from a joint loan

    This is actually more of a tax question... If a mortgage is in 2 names (with wife) and I redraw to buy investment in my own name, would I be able to claim a deduction for the whole interest? Example: Property investment loan is in 2 names Anna and Bob. The loan is interest only and has...
  2. Lotana

    Securing business loan with property

    Hi, I am looking to get a loan for business/investment using a paid off property as a security. Particularly interested in low docs as I am self employed. All low doc products I could find online say that the purpose couldn't be business. I struggle to understand why this restriction is in...
  3. Lotana

    Time to buy Sydney city apartments?

    The prices went down so much that the yield starts looking attractive, which may surely lead to some capital growth in the medium term? Frieds recently bought several 2-bedders at just over $300K each. Are any forumates buying city apartments in Sydney these days?
  4. Lotana

    Looking for a handsome No-doc product

    Did anyone have experience with NO-doc loans recently? I am looking to borrow against a paid-off investment property at a conservative LVR to "refinance" a margin loan. Wishing to do it quickly - no financial documentation, no assests/liabilities statements. Can provide a mature ABN...
  5. Lotana

    How to outsmart bank's marketing people?

    Recently I noticed that a number of sweet promotional offers from our banks was on the rise. To the routine "specials" of honeymoon mortgage rates? they've added agressive returns on deposits (up to 6%) and very low rates on balance transfers. Of course, the rationale behind this is to get...
  6. Lotana

    Brick dust

    We live in a 2-storey double-brick house that is about 25 years old. About a year ago I noticed that red brick dust on the furniture in one room on the first floor. Since then - it appears regularly. I wipe it out, it reappears in a couple of days. For a long time it was only one corner...
  7. Lotana

    Buying a property on the snow

    I am thinking of buying a unit on the snow (Falls Creek perhaps). For an investor these properties have some specifics that set them aside: short season, remoteness, presumably high running costs. I have no idea about capital growth and liquidity in such areas. Could anyone point me to some...
  8. Lotana

    Vertical blinds in Melbourne

    Would anybody by chance know a good blind company to install verticals in several new units within the same development? I am trying to do it remotely (from Sydney), which is a bit of a challenge. TIA, Lotana
  9. Lotana

    Strata Insurance

    I am a first time secretary of a strata plan in a 55-unit sydney building. I received a letter from strata manager to authorise renewal of the strata insurance policy. They disclose that they receive a commission from the insurance broker. The letter from the insurance broker has 3 quotes...
  10. Lotana

    YorProsperity Super is dead - any alternatives?

    YourProsperity decided to close their on-line super master fund product. All memvers should sell their investments and rollover to another fund. I failed to find a similar product on the market. Does it exist? The required features are: 1. All types of contributions accepted. 2. On-line...
  11. Lotana

    Gettin' Square

    Some time ago on this forum we discussed alternative investments in general and investments in film and TV in particular. Here we go - the movie is out October the 9th. "Wattsy" Wirth (Sam Worthington) is fresh out of prison and determined to go straight. But like Johnny "Spit" Spitieri...
  12. Lotana

    Landlord Insurance for Serviced Apartments

    I converted an IP (an apartment) to a furnished place with all the appliances, linen, dishes, etc provided. Booking through a travel agent, the term may be anything from 1 week to 6 months (typically 4 weeks). Would this rental property be covered by normal landlord insurance, or another cover...
  13. Lotana

    Telling the tenant you're selling the place

    Would anyone be able to help me with following situation: I am selling a unit, which is currently tenanted. In fact, the IP is let as a fully furnished shared accommodation and has 2 tenancies. One is due to start in 2 days (the RTA is signed, the bond + 2w rent is paid). The other one is in...
  14. Lotana

    Selling with tenants

    When selling an IP with tenants on a fixed term lease, would the buyer just take over the lease as a landlord, or the new lease is to be signed? Cheers, Lotana
  15. Lotana

    Fridge's gone - food's spoiled - who pays?

    I had a call from a tenant saying that the fridge does not keep the temperature low enough and he just lost $30 worth of food. The fridge is part of the place, so, he claims, I owe him this $30. I don't think so - where is the truth? Cheers, Lotana
  16. Lotana

    Looking for a volunteer graphics designer to design a building name sign

    I appeal to all graphics design enthusiasts - talented, ambitious, and generous. I am on an executive committee of a new strata complex. The developer gave the building a name when marketing the units, but now when it’s built the name exists only on paper. We (the owners) want to make a sign and...
  17. Lotana

    Stamp duty refund?

    A friend bought OTP unit and could not settle. So he lost the 10% deposit he paid to the developer. Prior to settlement he also paid stamp duty on property transfer (NSW) of $8,600. Is he entitled to a refund from the OSR? Thanks, Lotana
  18. Lotana

    Persistent loan purpose on refinance

    Here is the question: If I have an investment loan and refinance it, would the purpose of the new loan stay as "investment", meaning the interest is deductible? I am pretty sure the answer is YES but would be nice to get it confirmed by the experts. Cheers, Lotana
  19. Lotana

    Are there any good news for my friend?

    Calling to all tax experts, Please help me to see if there is anything a friend of mine can claim as a deduction in this unfortunate scenario. 3 years ago my friend and his wife bought a unit OTP. That was their firs IP purchase. They refinanced their home loan and borrowed extra $51K...
  20. Lotana

    Jan Somers - API Mag Cover Girl!

    Just received my copy of the API Magazine and was pleasantly surprised. Jan Somers is on the cover and her great story is inside. Congratulations to the magazine's team, well done gang. Cheers, Lotana