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Hi all I'm about to put my house in Nowra on the market and realise some post development profit. I understand that all loans secured to the property must be repaid or a new security found. No issue there. My conundrum is another loan secured to another property. I used about $50,000 of this...

Afternoon all. Long time since ive been on here. Since the last time iv finished my subdivision/build. Extended the family and moved a new rural property. very happy to see my development over and done as everything that could go wrong did and to top it all of council cut their contribution...

Hi all Just wondering how receptive Westpac have been lately. I have done ok in the past with 1 % off all my variables and lower fixed( although I haven't won yet with the fixed). Made a phone call to their retention team today in the hope of locking in 4.99% for two loans. Got a cold response...

Hi all. I'm mid 30,s now married happy great job and a 13 month old boy. Bought a house in my early 20s and spent the rest if my 20s having the best time of my life. Late in my 20s I started to realise that apart from a sore head and some damaged brain cells I didn't really have much apart...

Hi all My very painful long stress filled depressing attempt at being a developer is nearing the end. Encased sewer done Existing dwelling renovation done New garage done New 4 bedroom house done Now just some paperwork to finish the subdivision . My question is should I be valuing...

Hi all I'm getting a driveway done soon and getting a friend to do it. Rough details Existing layback extended by 1 meter Double driveway with path of the side approx 8 meters long. Patio slab to the back Easy access with about 3 hours max on a bobcat. Nothing unusual. Colour in the...

Hi all. I have a $250,000 loan fixed at 7.25% about to finish in 2.5 months. I asked how much the break costs would be to change this to 5.99% as offered to me on another loan. $1,450 !!!! Is this normal. It's a standard $300 fee plus $1,150 on top. Now to me the amount the bank would be...

Hi all. I will be picking some of the final items for my IP build and as i have town gas running past my new block it got me thinking. What do people prefer. Is town gas cheaper ? I was thinking a at a minimum i would provide gas outlets for heaters , gas cook top and a BBQ. But what...

Quick question with hopefully a quick answer. Say you have a property worth $300,000 with a $150,000 loan fixed for 5 years. If you wanted to pull out some of that equity for additional purchase. Is this just a matter of getting another loan which would be fixed or variable in relation...

Sitting here having a beer and started to think about my first IP purchased in 07. Basically I was new to this and borrowed 105% the banker suggested I split the $300,000 into two loans. $250,000 secured against the IP $50,000 secured against my PPOR This was done to save on LMI Later I...

All. I know this has been discussed before but ill add my experience so far. basically i purchased a property in 2009. this property has been rented the whole time. I started the process of building a second dwelling on the back with the intention to keep and rent out. The beginning of this...

Hi all. I have been hitting endless roadblocks with my development so i thought i would punish myself with looking at my under performer for a few days. Its a well located two bedder that is limited in rent due to the 2 bedrooms but being less than 200 meters to the CBD. A granny flat will...

Hi all. I assume the following has happened to others. I am in the accumulation phase with small loan on my PPOR but 90% LVR when including my two IP,s. (equity loan ) The third soon to be built should have around 70-80% LVR. Now my IPs are in central town and my medium term goal is to...

Hi all. Just having a think on this rainy day. My plan has always been to build then subdivide my town property without crossing the security on completion as the new property would have a small loan and the existing is at 90%LVR and I have also given the existing a significant Reno that I...

Hi all. Just thinking about how any future CGT is proportioned when you subdivide and build. EG with some rubbery figures. Purchase price $400,000 New house built and subdivided and valued at completion $400,000 ( actual total cost to sub and build is $200,000) Existing house...

Has anybody thought about ways to make the most of the 60sqm allowed. I guess a nice private outdoor space well landscaped may help. What about building a pergola(after building and occupancy) Then maybe enclosing it. Maybe a functional " carport" next to it. Not sure of the rules but are...

Hi all. Things are looking a little iffy around the world and it has me thinking. I'm ok with dropping prices( 20 year + hold time for me) I'm ok with cash flow.( have buffer and a 15 year gov contract for work) The one thing that might derail my current development is the builder going bust...

Hi all. I'm at the stage now where construction can start with my little development. The builder is drawing up the contracts. Price should not change from my indicative quote( I will ***** if it does) Any tips people want to share ? It is a project builder and I have built with another...

Hi all. Just wondering how you divide costs for the purpose of tax and loan repayments in the future. In my situation I will Build a house behind my existing IP. Build a garage and extention on the existing house. Then subdivide. I assume the cost of the new house is tied to it and the...

http://www.news.com.au/money/interest-rates/home-loan-rate-cut-for-commonwealth/story-e6frfmn0-1226082513213 Interesting Cheers