Recent content by Choppy

$413 average on my 3 IPs ($315, $345 and $580)

All income and expenses for the IPs go into and out of the LOC including rent, interest from all the loans (each ip has 80% loan where the interest is redirected to the LOC and the remaining 20% + expenses is in the LOC), expenses (rates, phone line installation etc..) anything I can claim from...

I'm sitting around 80 lvr on my ppor. I think if i really stretched i could probably work out a way to get another. But i figure I'll wait till #3 is built and take it a little slower.

Ok now I'm a little concerned based on that reply, i have a LOC against the equity in my house with all the cash going in and out from the ips. This was set up by a broker. each property has a loan against it for 80% and the LOC has the rest. How are you supposed to use your equity if not...

I paid off my PPOR already although i am using the equity In it for my LOC on the ips. so do you mean create an offset against the LOC but not actually pay it down and kinda use it like savings but rather than get interest on a savings account pay less against the loan And redraw when/if i need it?

Nah not an investment group. Got some advise on the first one but sourced the area and builders myself, plus i liked the idea of building new. Built my house like that and found it easier than looking for existing. Figured stick with what you know. Plus using depreciation as a tax write off...

Yup, paying tax means you're making money which is pretty much the thought behind the post. Just went and found Rixters post, great read and kinda what i started out doing but explained much better. I think a combination of these ideas would work for me. Since i have money to add, why...

That sounds like a good compromise. Pay less interest using the offset until you are ready to buy the next ip. This would decrease the wait for the next place :) I'll have to go have a look for Rixters post.

The dual in brentwood forest and the other in brookwater

The original aim was to purchase fast and duplicate based on the increases in Equity. As the price went up for the houses and rent increases made the ips turn positive geared and the loan amount stayed the same i would buy more. Eventually once the houses were worth more i would sell a portion...

Hi all, I've been lurking for a while in these forums, but this is my first post and I'm still learning. I started buying ips about 18 months ago and have purchased 3 so far. the 3 places are. 1. New Dual occupacy house in qld. one is 3/2/1 and the other 2/2/1. Slightly +ve geared 2...