PropertyInvesting.com | pyramid | Activity

pyramid replied to the topic Unprofessional bank in the forum Help Needed!

Sat, 21 Mar 2009 23:32:53 +0000

We bank with @b“>n@b and have found them generally very good. You may have come up with an incompetant person/branch. Many years ago we used to bank with Wpac and had a dispute with them which we refered to the Banking Ombudsman. It took us over a year to resolve as the ombudsman kept going round in circles. It was a matter of…[Read more]

pyramid replied to the topic Which countries can australians buy property in the forum Overseas Deals

Wed, 07 Jan 2009 04:27:37 +0000

Begs the question. What do you do with the cave?

pyramid replied to the topic Are you liable for Capital Gains tax on your PPR if you claim a small portion of it as a Home Office tax deduction? in the forum Legal & Accounting

Wed, 07 Jan 2009 00:24:59 +0000

Thought so! There's no escape. They get you one way or another.

pyramid replied to the topic Rebates on Investment Products in the forum Help Needed!

Wed, 24 Dec 2008 21:22:57 +0000

Rebates on mortgages is certainly "news" to me. What amountof rebates are we talking about? How much?

pyramid replied to the topic Real Estate Downfall in the forum Interesting notion! I have

Wed, 24 Dec 2008 03:57:25 +0000

Interesting notion! I have never heard of a short sale in property.In share trading, short selling or "going short" is the practice of selling a share that the seller does not own at the time of the sale. Short selling is done with intent of later purchasing the share at a lower price and completing the sale transection. Short sellers attem…[Read more]

pyramid replied to the topic Back to the basics - renting out PPOR in the forum Help Needed!

Tue, 12 Aug 2008 09:16:47 +0000

I would consider getting an independant property valuation before and after renting so that it is clear what portion of the gains should be CGT free

pyramid replied to the topic Getting Rid of Tenants...the start of the tenancy was very dodgey in the forum Help Needed!

Wed, 26 Dec 2007 23:03:23 +0000

BlayWe will certaily be pursuing the absconded tenent via Debt collectors in the New Year (hopefully they can locate them). All this happened last month so we are still finding our our way through the maze. They had left our property in a real mess – however this does not matter in this case as we have flattenened it to develop a duplex in its place.

pyramid replied to the topic Getting Rid of Tenants...the start of the tenancy was very dodgey in the forum We have recently had a

Wed, 26 Dec 2007 02:23:56 +0000

We have recently had a similar experience with a bad tenant who still ows us about $5000 in Sydney. Our property was managed by an agent and all the paperwork was in place (condition report, tenancy agreement, etc). However, even that does not gurantee that you will get all your money.In NSW, you can give a "no reason" termination/eviction notice…[Read more]

pyramid replied to the topic What type of vehicle do you have ?? in the forum Dazzling wrote: Fascinating

Thu, 16 Aug 2007 01:01:44 +0000

Dazzling wrote:
Fascinating to see the responses so far. "Where are all the really flash cars – the Benz's and BMWs ??" Good question giddo… What were people's initial expectations ?? Any more people like to share ?? Cheers, Dazzling "No point having a cake if you can't eat it."

Dazzling As you rightly quote in your sign off "No point having…[Read more]

pyramid replied to the topic Indian properties in the forum Overseas Deals

Sun, 05 Aug 2007 08:47:44 +0000

There has been a lot of discussion on India in this forum previously. See search link belowhttps://www.propertyinvesting.com/search?keys=india

pyramid replied to the topic How to set up a Strata Corporation? in the forum Legal & Accounting

Mon, 30 Jul 2007 08:03:30 +0000

It's NSW

pyramid replied to the topic How to set up a Strata Corporation? in the forum Legal & Accounting

Sun, 29 Jul 2007 12:53:19 +0000

Thanks raddlesI will look into it

pyramid replied to the topic Finance 6 Unit Apartment Block in the forum Contact Alistair Perry on

Wed, 25 Jul 2007 09:34:03 +0000

Contact Alistair Perry on this forum. We have recently got some finance thru Perry and Associates for a 6 unit block

pyramid replied to the topic calculating land tax in the forum Help Needed!

Tue, 24 Jul 2007 09:22:02 +0000

Depends on what state you are in. Try this site for NSWhttp://www.osr.nsw.gov.au/erevenue/calculators/landtax.php

pyramid replied to the topic RENT? in the forum General Property

Thu, 05 Jul 2007 10:40:44 +0000

A good way to work out rental values in an area is to pretend to be a potential renter and see what the lowest you can negotiate for similar properties to yours

pyramid replied to the topic RENT? in the forum General Property

Wed, 04 Jul 2007 10:19:12 +0000

What are you people smoking?

pyramid replied to the topic Houses v Units as an Investment in the forum General Property

Sat, 23 Jun 2007 09:12:56 +0000

I have just purchased a block of 6 by 2 bedroom units to add to my portfolio of 5 houses and two units. It is a great way of balancing the finances. The individual houses are great for capital growth (land value) but have a poor cash flow. The units are great for cash flow but have a lower capital growth (land value).

pyramid replied to the topic Property Manager in Liverpool area - Sydney in the forum General Property

Sun, 29 Apr 2007 04:22:30 +0000

That's amazing – 42,000 people interested in property investing and no one can recommend a property manager in Liverpool!

pyramid replied to the topic FHOG & Stamp duty exemption in the forum Help Needed!

Sun, 12 Feb 2006 02:46:07 +0000

I am not sure what your mortgage broker has advised you, but here is a quote from the NSW Lodgement Guide re: eligibility for FHOG and exemptions:
Applicants and their spouse (including a de facto partner) must:
Not have previously received a First Home Owner Grant in any State or Territory of Australia
Not have owned a residential property…[Read more]

pyramid replied to the topic Melbourne median property values up 5%? in the forum General Property

Sun, 05 Feb 2006 22:33:32 +0000

Yes, great post hb. Some real gems if insight that can only come from time and experience.

Cheers
Pyramid

pyramid replied to the topic Petrol increase = interest rate rise. Why? in the forum General Property

Sun, 05 Feb 2006 06:54:04 +0000

Interesting question Allan. I am not an economist but here’s my simplistic take on it.
Interest rate is basically the “price” of money.
If the “price of money” goes up, the price of everything else goes up respectively – but isn’t that what we call “inflation”? So, raising interest rates has the effect of raising inflation in the immediate term.…[Read more]

pyramid replied to the topic Melbourne median property values up 5%? in the forum No Subject

Sun, 05 Feb 2006 06:30:18 +0000

HB
Fully agree with your last post re: diversifying and taking the blinkers off. But I think one needs to be in a specific financial position to be able to do so.
There may be an opportunity for “forumites” to learn from your experience and case history. [grad]
How did you get into property 15 years ago? Did you have the money or did you borrow…[Read more]

pyramid replied to the topic Negative gearing in the forum General Property

Sun, 05 Feb 2006 06:08:50 +0000

Fully agree with Paul, Redwing, et al. There is no right or wrong answer to CF+ or CF-. The strategy should depend on your circumstance. About 8 or so years ago, I had the cash flow but not the equity. So I invested in negatively geared properties.
Today, the negatively geared properties have appreciated in value. I have the equity but my cash…[Read more]

pyramid replied to the topic Melbourne median property values up 5%? in the forum No Subject

Sun, 05 Feb 2006 04:20:10 +0000

Originally posted by hb:
sorry guys
i couldn’t believe 420k invested 2 yrs ago would make so much.
had to check again
and again….

and yes here the FINAL figures

cba 2 years ago $30.59 today $43.88 420K invested today $602k
bhp 2 years ago $11.10 today $25.53 420k invested today $966K

It’s always easy to talk about share market successes, but…[Read more]

pyramid replied to the topic investment property for Defence Housing Australia in the forum Help Needed!

Fri, 03 Feb 2006 13:23:28 +0000

I have been keeping an eye on DHA opportunities for the past 6-8 months or so. In theory they seem attractive with guranteed rent for xxxx peroid, etc,etc. But I agree with Adam, they have a ridiculous PM fee. I think a close parallel would be “time share properties” where you get caught up with owning the property but have little control on…[Read more]

pyramid replied to the topic Need furnishing ideas to get maximum rent. in the forum Help Needed!

Thu, 26 Jan 2006 05:31:28 +0000

I have heard about the following strategy but have not yet done it myself.
Charge a slightly higher rent but the tenant gets to keep the furniture if he/she signs a 3 year lease and pays rent on time everytime.

Cheers
Pyramid

pyramid replied to the topic Investing in India in the forum Overseas Deals

Wed, 25 Jan 2006 11:26:49 +0000

I have heard (may be true, may be a rumour) that it is impossible to get tenants out of a property because the legislation in India is very landlord unfriendly. Even if they default![wha]

Cheers
Pyramid

pyramid replied to the topic solutions to no deposit in the forum No Subject

Sun, 22 Jan 2006 09:37:23 +0000

Originally posted by hb:

OK lets try that same money…something different….

2. buy some plant and equipment $100K

HB
You make some very good arguments for starting a business with much higher returns. However, the old adage still applies “rewards are directly proportional to the risks”. Start-up businesses present a higher risk, therefore…[Read more]

pyramid replied to the topic How many wraps have you done?? in the forum Creative Investing

Sat, 21 Jan 2006 06:41:43 +0000

Originally posted by Terryw:

I wouldn’t do anymore. I have foudn the profit is too small for the hassle. It ties up your funds, and so you must take into account the opportunity costs.

Terry
So how are you investing in property instead?

Cheers
Pyramid

pyramid replied to the topic Who reckons they can solve this! in the forum Help Needed!

Fri, 20 Jan 2006 11:24:52 +0000

Originally posted by Jenny1:

Just go back to your PM and ask them to clarify your statement, he will either have a logical response and give you a breakdown of this figure or squirm like hell!

I reckon this is the best advice. So have you contacted the PM Nathan? What was the response?[evo]

Cheers
Pyramid

pyramid replied to the topic Anyone used a Bungalow for +CF? in the forum General Property

Fri, 20 Jan 2006 09:09:16 +0000

Originally posted by Jaffasoft:
So it’s just a transportable rectangular building 6 by 3 meters, with shower bay, kitchenette, sink, hot water service, all electric with power points and safety switch, guttering, flat roof. Doesn’t say it has got a toilet.

Did I miss something? What’s the difference between this and a caravan park cabin? Are…[Read more]

pyramid replied to the topic Homes seized in mortgage squeeze in the forum Help Needed!

Wed, 18 Jan 2006 14:01:27 +0000

Originally posted by blogs:
Whats even funnier was when I was saying this was going to happen a few months ago all the so called ‘experts’ on this bored laughed at me[hmm] I can remember quite distinctly some were even belittling me saying property prices were going to keep going up bwahahahahahah
No matter how you look at it, property prices…[Read more]

pyramid replied to the topic Using equity to purchase property's in the forum Finance

Sun, 15 Jan 2006 14:29:11 +0000

Originally posted by minidaz:
The question i have is that now we will have to seperate loans 1 for our current property and a second for the deposit’s then a third for the other 80% how do investors cover the interest on the second loan for the deposit’s? In other words if we have to use the profit’s we make it seems pointless to borrow the money…[Read more]

pyramid replied to the topic exclusive rental arrangements in the forum General Property

Tue, 10 Jan 2006 08:24:20 +0000

We recently engaged two RE agents in Sydney to find a tenant for our vacant property. The first one to sign up a suitable tenant at an acceptable rental was appoined as the property manager.

[thumbsup2]

Cheers
Pyramid

pyramid replied to the topic Who would need a wrap anyway ? in the forum Creative Investing

Tue, 10 Jan 2006 08:06:50 +0000

Richard
The problen in Sydney is that the lower end properties (houses) are already at $250-280k. After closing costs (stamp duty, conveyencing, wrapee mark up, etc) they come close to the $300k range.
[glum2]

pyramid replied to the topic Who would need a wrap anyway ? in the forum No Subject

Tue, 10 Jan 2006 02:10:33 +0000

I too am getting many queries in Sydney but do not seem to get people to commit. Perhaps my prices are too high. I am looking at a$30k markup on the closing property price (a $300k property offered to the wrapee at $330k) and a 2% premium on the interest rate. Is this unreasonable? What margins are successful wrapers charging?

Cheers
Pyramid

pyramid replied to the topic difference between wraps and lease options in the forum No Subject

Mon, 09 Jan 2006 12:23:24 +0000

Carlin
Click on the tab marked “Investor HQ” next to the “Forums” tab at the top of the page. It’s all explained there.
I don’t know of the legalities in SA.

Cheers
Pyramid

pyramid replied to the topic A Hypothetical Question. in the forum No Subject

Mon, 09 Jan 2006 09:38:47 +0000

Interesting hypothetical. But what’s the point?

Cheers
Pyramid

pyramid replied to the topic Is it legal to WRAP in ACT? in the forum Creative Investing

Sat, 07 Jan 2006 09:58:17 +0000

Thanks Paul. I have just joined up.

Cheers
Pyramid

pyramid replied to the topic WRAPS. Are they still legal? in the forum No Subject

Fri, 06 Jan 2006 07:53:07 +0000

Michael
You haven’t looked hard enough. Look under the “Getting Creative” section of the Forums

Cheers
Pyramid

pyramid replied to the topic Is it legal to WRAP in ACT? in the forum Creative Investing

Fri, 06 Jan 2006 01:16:39 +0000

Anyone please??
With 42 thousand subscribers somebody’s got to know this!

pyramid replied to the topic Shortfall in the forum Help Needed!

Thu, 05 Jan 2006 05:09:01 +0000

Hi Wassa
You should try and make the best of the worst situation. Maybe worth considering selling one property that has appreciated in value and one that has depreciated in value. This way you can realise some funds to pay for your shortfalls and offset the capital gains of one property with the capital losses of the other and minimise any tax…[Read more]

pyramid replied to the topic Vendor Finance compared to Traditional Finance in the forum No Subject

Wed, 04 Jan 2006 14:30:58 +0000

Hi Paul
In response to your question
“In your Disadvantages list you mention; “First home owners donâ€™t benefit from stamp duty exemptions as it is paid for by the Wraper and passed on as a closing cost”

In NSW wrapees receive the stamp duty exemptions and access to the FHOG on exchange of the Instalment Contract (if they are first home buye…[Read more]

pyramid replied to the topic Who knows anything about Caveat Loans? in the forum Finance

Wed, 28 Dec 2005 09:05:11 +0000

Hi Lawrence
Many thanks for your offer to answer more questions on this. Interesting to note your comment about solicitors and accountants offering this type of loan. In my pursuits for wrap clients, I have been approached by a solicitor to offer this kind of finance to his clients/contacts as an alternative to vendor finance. The proposal is I…[Read more]

pyramid replied to the topic Who knows anything about Caveat Loans? in the forum Finance

Wed, 28 Dec 2005 01:38:28 +0000

Thanks everyone for your comment. Your advice has stopped me from entering into a potentially expensive exercise.

Cheers
Pyramid

pyramid replied to the topic A Question For Steve in the forum General Property

Thu, 22 Dec 2005 12:02:23 +0000

Good try Martin, but why would Steve disclose his target market for the world to see? I surely would not tell you where I was investing on an open chat-line and open the flood gates to competition

Cheers
Pyramid

pyramid replied to the topic Comment on wraps in the forum Creative Investing

Sat, 10 Dec 2005 08:40:32 +0000

Richard
What is a shared equity scheme? How does it work?

Cheers
Pyramid

pyramid replied to the topic Does anyone have a straight answer to this? in the forum Creative Investing

Sun, 04 Dec 2005 11:51:54 +0000

Hi Paul
You have finally hit the nail on the head. This is exactly what I needed to know. I will of course check with a wrap saavy lawyer – but I ca now go in better informed.

Really appreciate the straight answer

Cheers
Pyramid

pyramid replied to the topic WRAP and First Home Plus in NSW in the forum Creative Investing

Mon, 24 Oct 2005 01:20:03 +0000

Hi Paul
Thanks for your response. It all makes more sense to me now. I am new to WRAPs and do not have a WRAP savvy lawyer. Do you have any suggestions for Sydney based lawyers?

Cheers
Pyramid

pyramid replied to the topic WRAP and First Home Plus in NSW in the forum Creative Investing

Sun, 23 Oct 2005 06:34:01 +0000

Richard
Many thanks for your post. I apologise for the ambiguous question. Allow me to clarify.
As I understand it, a first home buyer in NSW can qualify for the First Home Owner’s Grant and also First Home Plus.
The First Home Grant is usually paid to the buyer upon settlement. In a WRAP situation, the settlement may not occur for another 20…[Read more]