Posted by CarolFL on April 06, 1999 at 19:06:08:
Lisa,
Oh, I see… breathing is a kind of 'exchange" - akin to our 1031’s … except oxygen and carbon dioxide … well, please, don’t tell our politicians. They’ll be adding that one next (or have they already?).
Carol
PS your line sounds great to me!
Pros/Cons Line of Credit - Posted by Lisa from Oz
Posted by Lisa from Oz on April 05, 1999 at 19:20:17:
Hi everyone,
I need some advice. I’ve been approved for a $150,000 line of credit through my bank at 6.4%. The taxes are approx. $600, but no bank fees no matter how many times I access the money, no prepayment fees, and no further taxes.
I’m thinking of doing some quick “Pre-habbing” of govt. owned homes (deceased estates) depending on what kind of deals they’re offering.
Thanks guys,
Lisa from Oz
Re: Pros/Cons Line of Credit - Posted by Dave B
Posted by Dave B on April 06, 1999 at 17:43:58:
DAYUM, if OZ is the same OZ (kansas) I live in, where are you gettin that? I work with Community Bank in Liberty MO, I get 100% purchase finance, but have to have fix up money of my own, or credit to obtain it independent of community bank. The Line of credit I’m workin towards is a totally secured, and the fee will be a 2% spread above what I receive on my security deposits. If the security isnt liquid, such as real estate, I think the percentage is 2% above prime.
Id use that line of credit for sure! Wish I could get it… Unsecured? I’m A credit, and need security. Good job.
Good luck,
Dave B (in Kansas OZ)
Re: Pros/Cons Line of Credit - Posted by Laure
Posted by Laure on April 06, 1999 at 07:51:19:
I don’t understand the 600 charge for taxes? taxes on what? The rate sounds wonderful… almost too wonderful. You sure there isn’t a catch somewhere?
Laure 
Re: Pros/Cons Line of Credit - Posted by Lisa in Oz
Posted by Lisa in Oz on April 06, 1999 at 17:40:48:
Here in Australia, you must pay taxes on all financial transactions, changes of title, breathing . . .
Lisa in Oz