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Hi, I was wondering what I should do with the left over funds from a refinance for an IP. Eg: I have $255 000 that I am refinancing from Bank A. To make sure that there is enough money to cover the refinance, Bank B allows $260 000. On the day of settlement, the actual figure that is...

I just received my evariation for the nex t financial yr and it says my tax rate has been reduced to 19 percent. I'm wondering how much tax this works out to be. Does anyone know how to calculate it?

Hi, I have one loan worth 260k on an IP. Couple of years ago, I decided to top up this loan and took out an extra 40k in order to purchase a 2nd investment property. The top up loan was set up as a separate loan. Now I am thinking of consolidating the top up loan back with the original loan...

Hey guys, I just thought I'd like to warn people about MyRate and how they are charging new and existing borrowers completely different interest rates on the same Loan Type. You can have a read of some very disgruntled borrowers who have already fallen for the trap...

Hi there, I'm just after some opinions and advice as I'm not sure where else to go with my problem. I own a single apartment in an apartment block (9 stories) and recently I've received a letter from the Body Corp saying that they need to raise $90 000 immediately to cover the cost of...

Hi, I have an apartment and just today the real estate agent has notified me that the current tenants living there are not getting hot water anymore. The hot water is heated by gas and the pipes and meters are located in the lobby of each floor. The apartment complex is managed by a body...

Hey guys, I want to rent out a spare bedroom in my house and for security reasons I will be collecting a bond from the tenant in case they cause damage etc. I was just wondering if it is a legal requirement to pass this bond onto the RTBA? And what happens if I don't pass it on? Thanks.

Hi, I have heard that depreciating is a double edged sword and that you should only be depreciating assets in your investment property if you plan on replacing them at some stage. But what does this exactly mean? For example, if I depreciate a fridge, when do I need to replace it? And what...

Hi, I'm wondering how long it takes to get conveyancing done after I sign the contract of sale? Because I have a real estate agent really pressuring me to choose one and have it done asap. I don't know if he is doing this for any kind of financial gain or if there is actually genuine speed...

Hi guys, I have another question about auctions. :) Would I be correct to assume that dummy bidders are illegal now in Victoria? Well even if they are illegal, what's there to stop a real estate agent from hiring a dummy bidder? I mean, how would you find out? I'm curious because I just bid...

Hi guys, I just recently purchased a unit on the weekend at an auction. On my contract of sale under the general conditions, it has a Finance clause stating: 3 This contract is subject to the lender approving the loan on the security ofthe property by the approval date or any...