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    Sydney Syndrome

    ' I don't want to miss out on the next Blacktown or Mt Druitt' This leads to the notion that you can just pick the worst suburb in any other state capital and in 5 years time you will double your money Why do Sydney investors think that because it happened there it will happen everywhere...
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    Borrowing to subdivide

    We have a block we would like to subdivide in the future. We have the money to do it now. Personally I would rather use the cash to fund more IPs which we will rennovate. In theory we should still have equity available down the track with rennovating But worse case scenario - we don't buy...
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    $500 bank overdraft

    So the bank offered me a $500 overdraft. I have used it a couple of times in the last 3-4 months to pay bills in a timely manner. Fast forward to now and we are trying to get a home loan with a different bank. The bank manager there said that it might work against us having used the...
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    'Macro Prudential' controls on bank lending

    So with APRA looking to bring in lending controls what are everyone's thoughts? Are they going to be lower LVRs, less Weight given to rental income - anyone know exactly? So would you be best to dive in now and load up - get the loans whilst you can get them Or - will this cause a long...
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    Decreasing deposit to afford Reno costs

    we are looking at a place for about 300k that needs a bit of work. I think it will cost around 15k to do up. I would prefer to do a 10% deposit but if we do this funds will be very tight for a renno and im afraid the bank will say no. All our loans are with the one bank and our current...
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    BCC zoning

    Can someone please clarify this for me Character residential 2 - housing infill - can accommodate multiple dwellings at a rate of 1 dwelling per 300m Yet the minimum lot size in the table is 800m Does this mean if you had a 900 block you could have 3 dwellings but if you had a 600 - 899...
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    Buying ppor for child

    Was asked for some advice about parents getting a home loan for a child and then the child paying it back all expenses to parents Plan was to transfer into child's name down the track I pointed out that this would be a messy situation with cgt involved What's the easiest way to make...
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    Rennovating and travel expenses

    During the year we have rennovated two properties, both interstate. One has never been rented (was unrentable) the other was a property we have previously rented Is this correct - property that has not been rented - travel expenses cannot be claimed? Do they add to the cost base of the...
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    Glazier repair cost

    So I got a double glazed window installed in bathroom into a timber frame , about 600 square - cost $250. Paid before job done Anyway I get an email from company saying that I have them the wrong measurement for the window and that there was no timber beading in window so it would cost an...
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    Renting to family and bank finance

    Some family members want to rent one of our IPs short term Pros - won't need a property manager Will look after it as the husband played a major part in rennovating it Cons? Is this an issue with the bank or is it just normal income as per any other tenant? I don't want to get...
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    Store cards

    We are about to do a small renno and we might be a couple of k short. We don't have a credit card Anyway so I was considering getting a store card for bunnings or masters or both. I think they do $1000 limits Say we went through with the cards and paid them off in a few weeks and then...
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    Decision time

    Ok so we have a couple of IPs Loans of 508, 80k of which we can use as deposit on next ip (loc not drawn down) So really I guess our loans are currently 428k We will have rent of 700 per week Only on about 80k combined income, will be 100k in 6 months Decision We need to make is wether to...
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    Purchasing a block then building

    Morning We are looking at purchasing a regional block - circa 80k and then putting units on it - 320k Question is If we borrow to buy the block and then want to put transportable units on it what sort of control will the bank have over the development? We will be selling another block...
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    Subdivision title release

    I spoke to bank manager about subdividing two properties which are both secured by the bank (not x Coll) He said I would need a letter written by a solicitor requesting this? Is this correct ? Does it need to be written by a solicitor? Is there a formal name for this type of letter/...
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    Accessing equity?

    So we bought a place which we are currently renovating and I think it will be worth substantially more than what we paid for it when finished. The house was purchased using 20% deposit from a line of credit and the rest using a fixed interest only loan using the house as security How easy/...
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    PAYG and self employed loan

    Question If you are employed PAYG part time but have also been running your own business for just over a year, will also being self employed actually hurt your serviceability in the banks eyes? The business is a service business with ongoing rent of $120 per week, almost no start up costs...
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    Finance wall

    We haven't hit it yet but I'm pretty sure we will after the next purchase Can some of the finance gurus on here give us a rule of thumb - comparing incomes (+rental income) to loans outstanding and what further funds can be borrowed Confusing I know but hopefully you understand what I'm...
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    Finance for land and duplex development

    Morning We are looking at buying a vacant block for around 130k Then depending on finance doing a duplex dev We would be using a kit home built by a builder so total costs will be around 270 So all up 400k What is the best structure for this loan (we have enough for 20% deposit)...
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    Duplex with no official council approval

    Would I struggle to get finance on this? Council office burnt down in 1982 and lost most records. It has been rated as a duplex by council since then though. So it would of been approved but now no backing document Council said its fine but what will the bank say?
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    Rendering costs - Brisbane

    Has anyone had a single story place rendered in Brisbane lately? Its a fairly small 3 bedroom beick home I guess the dimensions would be 15long * 8 wide * 3 high What would you estimate the cost to be?
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