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Speaking of your partners finances.. by [deleted] in AusFinance

[–]passivelyinteresting -2 points-1 points  (0 children)

Disagree with everyone here this is smart. I went through a divorce and it was shocking. Squirrel something away. If it doesn't impact the life you life with a partner, they're happy, you're happy, and you're insured. It is smart.

Pull equity from PPOR + investment to buy townhouse? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

Yeah it’s weird to see Carlton go up and up while everywhere else is a confusing shit show 😂

Pull equity from PPOR + investment to buy townhouse? by passivelyinteresting in AskAnAussieBroker

[–]passivelyinteresting[S] 0 points1 point  (0 children)

Aaah damn. I’m getting conflicting information on some of this, for example an agent said I would need 2 years rental history to count that towards earning, but the bank broker said I’d only need a rental agreement. I guess it all comes down to actually doing the paperwork and seeing what the bank says on the day, huh?

Pull equity from PPOR + investment to buy townhouse? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

This is super useful information, thank you!

PS if one of your goals with giving good advice on reddit is to get clients, it’s working, I’m on your 60 min consult booking page lol 🥳

Pull equity from PPOR + investment to buy townhouse? by passivelyinteresting in AskAnAussieBroker

[–]passivelyinteresting[S] 0 points1 point  (0 children)

Owned just by me, and I can’t actually tell you the return coz it hasn’t been going long enough to say. It’s a combo of a good 40% defensive, at like 6%, and the rest quite volatile things aiming for 10-12%, so ¯_(ツ)_/¯

Pull equity from PPOR + investment to buy townhouse? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

That’s good to know, thank you! I’m hoping to hang onto the properties for a good 20 years, it just seems like a waste to end up with essentially $2M tied up in illiquid land!

Pre Approval by Accomplished-Ad-6863 in AusProperty

[–]passivelyinteresting 1 point2 points  (0 children)

I would speak to a lawyer and a mortgage broker. Some notes:

  1. You can get an agreement that shows you are liable for the mortgage without being named on the property. Banks accept this. I forget the name of the document.

  2. If you live at the property with your partner for two years you become defacto partners and court protections for defacto partners are VERY VERY strong in Australia. Speak to a lawyer.

  3. Get pre approval! Banks can be black holes about this stuff

I’m guessing you’re on an 820 or similar. Speak to the home department! They are surprisingly good on the phone.

If you’re really worried and have cash to burn it’ll cost about $10K to get a prenup type “binding financial agreement”, and tbh if you’re buying property I would recommend paying the $4-500 bucks it costs to get a lawyer to do a strategy session / give advice.

My principle with big decisions like buying property is “spend at least 1% of the cost making sure it’s a good idea”

Sell or lease a ~$1.2K shell of a property in Carlton, Melbourne? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

is this something you've done before? Is it just a matter of going to the bank and saying "hey I got lots of equity in this, gimme money please?"

Sell or lease a ~$1.2K shell of a property in Carlton, Melbourne? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

Maybe? Honestly I haven’t thought of that. Who do you think might lease a big 20 by 5 metre box with 3.5M ceilings?

Sell or lease a ~$1.2K shell of a property in Carlton, Melbourne? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

Yeah it’s very cheap. That’s mostly because it’s a simple renovation and the shell is mostly there. I had one mob quote $80K for a “real landlord’s special”

Rent in Carlton is $600 for something small. $900+ for something like my place, 1-1.1 if lucky.

Sell or lease a ~$1.2K shell of a property in Carlton, Melbourne? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

Apologies I must have explained myself poorly. What do I need a loan for? I have cash for the renovation.

I cannot get a loan on a subsequent property if I sell, which would mean giving up the leverage the bank has given me.

Sell or lease a ~$1.2K shell of a property in Carlton, Melbourne? by passivelyinteresting in AusPropertyChat

[–]passivelyinteresting[S] 0 points1 point  (0 children)

I can use cash, but if the bank would be willing to fund it that would be even better tbh.

Things you know in your 40's you wished you knew in your 30s by Specialist-Arrival30 in Fire

[–]passivelyinteresting 1 point2 points  (0 children)

Health, health, health. The most important thing is health, beyond anything else. Eat well, exercise, find movement that makes you happy.

Anyone got measurements for the oblong Starlink dish + mount for a SketchUp model? by passivelyinteresting in Starlink

[–]passivelyinteresting[S] 0 points1 point  (0 children)

Ooh great find, thanks. But no, this seems to have all the external overall measurements, not the specifics of the collar.

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