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still going very good I was reading this thread again and want to report progress: 1. The restaurant is going good. 2. Apart from my friend and his wife, they have 3 more employees. 3. They have got visa approval for another chef to come from India. 4. The total cost of buying plus...

Update The new restaurant was renovated fully and started 3 weeks back. My friend has got very good response. He is doing well and had to increase the staff with all his old and lot of new clients. Has applied for the liquor licence, most probably will get it by mid Oct.

Hi all, My friend bought this property. Actually, his accountant set an investment trust (friend's wife is director and he is nominee) and the trust bought the property financed by CBA at 70%LVR. Trust is leasing the property to the business owned by my friend and his wife. Currently being...

Actually, the leakage is happening at many places in the house when raining (as explained by the tenants). I think the original leak caused by evaporative cooler has stopped after the repairs. I sent a tradeperson there to give me a quote, but he does only the ceiling and wall repairs and...

Actually, I didn't want to make it a saga of tenant vs REA vs me (landlord). Cut the long story short, REA says they don't know whom to call for this kind of problem as they deal mostly with the problems requiring handyman and not a builder. Tenant says....they were always complaining but...

Recently, I did an inspection of my house in Elizabeth East, Adelaide. Tenant showed me quite a few leak marks on the walls from the cornice downwards. Last year, only one area in ceiling had a leak just below the location of evaporative cooler (on the roof). There were some noise problems...

I don't think that is true. My council in SA sends out letter to all the neigbours even when I was installing a carport on my property. Regards Sanjay

Hi all, I bought an IP 3 BR house in Elizabeth East on a corner block of 765SQM in 2009. The prices have come down in the area since 2009 and I can see similar properties going for around 20K less than what I paid. The reason for buying there was the early entry at lower price (than Salisbury...

Thanks Aaron. Do we add the LMI to the cost base as well?

Back with the questions Hi all, I just searched this thread (started by me few weeks back). So, after due deligence, my friend is going to buy this commercial property for his dine-in restaurant. PP is $260+GST. Question 1: The broker has indicated, If my friend buys the property in his...

Hi all, A basic question to confirm my understanding: IP purchase price: 100K Depreciation claimed in 2 yrs: 20K Selling price after 2 yrs: 150K Capital gains: 150K-(100K-20K) = 70K (is that right?) So taxable amount: 50% of 70K (correct?) What other costs/expenditures are addedd...

Bunnings and K-mart are in the process of coming here. Site selected and soil test done, project developed, I heard. Quest apartments are making are building a big block of apartments here, the construction is in full swing. Westland shopping center expansion phase 1 construction started...

Everybody in Whyalla is looking forward to see the kick-off for new projects around. Desal plant, Ara-fura plant, Explosive manufacturing plant, new port, uranium and few new iron ore mines very near to Whyalla are the main ones. Obviously, things are not moving very fast and we are still far...

JT, Whyalla Stuart is a generally a 'no go' zone if you want to gain some CG in future. I mean socioeconomic, drugs and small crimes point of view. The house prices are very low as nobody wants to buy there. Lot of new people give high rent because they don't know about the area at the time of...

Nobody pays $600 pw here in Whyalla. Rare exception might be a big house fully furnished and leased to some company. On the other hand, there is a big confusion here about effect of mining boom on Whyalla. As of now, there is no significant job cuts in steel company and the management is not...

I joined OneSteel in Apr 2007, and am hearing about uncertainity of its existence even before I came here. At the moment, I think it is not closing down in near future. Company just put $65m to repair the furnace and heaps of other money in other projects including a desalination plant. They are...

Lizzie, If I remember correctly, I read in one of your post that you stayed in Whyalla for some time. His current location is the down-town street which is dying and many shops are empty. So he wants to move to better part like Playford avenue or Essington Lewis Avenue, where more and more...

Thanks for the suggestions. To make the discussion more relevant: At the moment, he is leasing a place for his takeaway outlet. It is not suitable to be converted into sit-in restaurant. However, he has got some tables where some people like to eat. There is not a proper toilet and proper...

How is offset different from a redraw facility. Like with ANZ, I can redraw from what I have paid over the minimum required installment without any redraw fees. But has to be minimum $2k redraw.

I was happy to use my broker for last 2 properties because he talks very good and he told me many stories about how the bank employees themselves do not know enough rules and procedures to pass a loan while he can tell them their rules and get the loans approved. Later I came to know, he got...