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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...

Yes I agree with what you mentioned about shares being very speculative. I am just doing my homework on the few options I have at the moment. I am thinking of getting a cashflow positive or close to neutral gearing property for IP2, as my current IP1 is neg geared. A positively geared IP2 would...

Hi BV, do you mean by accessing the equity in IP1 to use as deposit for IP2, and obtain say a 80-90% loan for the balance of IP2? Then rinse and repeat for subsequent IPs, as mentioned also by Bon. That would be my long term plan, but I thought it would be a faster (but more risky) route...

Thanks Peter for your detailed reply. I have not actually done much research on shares or managed funds at the moment, but am planning to. You mentioned above that most managed funds or if I reinvest dividends to obtain a target of >7% yield would not be a 1-2 years strategy. Are you able to...

I'm still young (i think so anyway :) ) so I am happy taking on higher calculated risks at this stage. The plan is definitely to acquire more IPs, but considering that I am still in an entry level profession, saving for the next IP is going to take some time (maybe a year or 2, and I can use...

Hi Somersofters, This question about paying the LMI to access an additional 10% has been playing on my mind recently. The scenario is as follows. My IP has been valued at 390000, and I have the ability to either refinance at 80% or at 90% with LMI capitalised. I used a LMI calculator, and it...