Recent content by Bandita

  1. Bandita

    How to find a property owner's name (NSW)?

    Hi all, quick question - is there an easy (free) way to find out the name of the owner of a property if you have the address? It's in NSW. Thanks :)
  2. Bandita

    woke up a millionaire

    Congrats Oscar!! Well done, and enjoy your financial freedom, what an incredible achievement!! :)
  3. Bandita

    Interest Only Loan with Offset

    Generally, an Interest Only loan is just part of an entire 30yr (or similar loan), so might be interest only for 5yrs at $1k per month, converting to principle and interest for 25 yrs at $1,300 per month. That's just random numbers, but it's usually something like that, you can potentially...
  4. Bandita

    Where to park savings?

    Most definitely an offset account :)
  5. Bandita

    Interest Only Loan with Offset

    If you had equal to or over the loan $value in your offset account, your repayments (I.e. Interest) would be $0 for the time period your loan was Interest only. It's dependent on your situation whether that's the most tax effective strategy for your cash, but if you consider you'd be putting...
  6. Bandita

    Curious if this works

    Thanks, I don't know know why I can't get my head around it - as I was typing it out I realised it made quite abit of sense but when I first heard it I was thinking "no way, that might seem like tax evasion!" Typing it all out though, it does make more sense. Thanks for making me realise that...
  7. Bandita

    Curious if this works

    Something 2 different bank managers have mentioned to me - I'm unsure tax wise if this would work. It's not the way we'd go anyways as the payments are too high, but I'm curious if we could legitimately claim this interest on the investment loans...... Looking for a loan to buy into our...
  8. Bandita

    Working out if owning is cheaper than renting.

    I think you're missing that if you had rented and bought an IP (instead of a PPOR), then you'd very likely be better off - Generally speaking, if it's the same $amount you're spending, it's usually better buying as you'll (hopefully) get capital gains - although it can depend greatly on...
  9. Bandita

    Renovating Blog - Regional NSW

    Do you have a Masters near you? I'm sure Bunnings will do you fine if not, what price are you looking at?
  10. Bandita

    Life - its not all beer and skittles

    REALLY enjoyed reading this thread, thank you so so much for sharing. At $500 net per week, you deserve much more credit than you've been giving yourself. You've turned a nightmare into something positive, with hopefully much more capital gains to follow, well done :)
  11. Bandita

    Which is better - To live in your own property, or rent it out and rent separately

    Oh, and when we rented, we always rented for less than our IPs did :)
  12. Bandita

    Which is better - To live in your own property, or rent it out and rent separately

    It depends on your age, your lifestyle, and your family situations (i.e.kids??) Renting out our properties and renting ourselves was/is absolutely the best way for us to go (financially) when we were DINKS, we saved bucket loads, bought more IPs, did very well. Then we had kids :eek: we...
  13. Bandita

    How quickly equity can be released?

    Thanks, this is what I'm most curious about (for instance with refinancing with a new lender) - does 'no val' happen? is St George considered a no val lender? If not, any other of the major banks? And if so, what's considered high LVR? Thanks :)
  14. Bandita

    How quickly equity can be released?

    Hi, sorry to hijack, but what do you mean by a "no val policy lender"? Thanks :)
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