Recent content by Firefrog

Little Update I have now had the PPOR bank valued and applying for an equity LOC. Came in at what I expected. Moving along slow and steady. Talking to a broker to look at future lending..... Thanks for reading and for all the posts in this thread. It's been great reading.

Thanks all Winstonwolfe - Thankfully Adelaide would appear to be less costly to live in than perhaps where the projections above where estimated from. We have a good budget and the numbers do allow for saving. For example our food bill is about $100 a week less than you project and school fees...

Goals - Update Earlier in this thread I was encourged to set goals...... I have re-structured my banking to make better use of my offset on PPOR. I have applied for a LOC equity loan on PPOR. Valuation pending. Saving is improving after expensive Christmas. Have begun discussions with...

2009 - Baby Steps paid off all consumer credit - cars - cards etc Purchases PIA software Arranged finances better - PPOR offset soon to be primary savings account Set aside cash for school fees. Prepared a better budget - reducing expenses. 2010 Set Goal to create a cash...

So I have a short goal list. Get my accounts sorted - In progress. Should be done in a week for cards to be issued etc.... Prop up savings into the offset and provide a safety net - In Progress Get a valuation and arrange a IO LOC against PPOR. - Arrange first week in Jan. Continue getting...

I'm off to the bank to change my accounts and make the offset effectively my savings acccount. Baby step......:)

WOW - Thanks for all the thoughts so far... Y-Man asked about more info.... Bought this PPOR almost three years ago. Amount owing is close to the original loan. I have a 100% offset but it being used as a daily account. This is not working all that well as money builds up but then gets gobbled...

Rixter - At work I'm a list writer, list of things to do and they get done. Personal life just gets done as something urgent demands attention. We live in a successful routine but no formal set of goals or time frames. Indifference - I have begun this idea. Christmas is making it hard but I...

The trust thing is not about the the value of the investment that is without question. I think I am concerned about cash flow in the first year or so, as it stands now we have the odd tight time where bills etc. make me feel a bit lean on cash. Being really honest with myself I think that is...

I am trying to break the cycle and be proactive. I am interested in peoples opinions, thoughts and stories on how they overcame similar hesitations. I doubt I'm alone. My story should not be read as a statement, more of a what do you suggest question. I'm all ears and want to get started. I...

I lurk here - I spend some time away.....then get frustrated at my lack of action come back and read my little heart out then repeat.....been doing so for 10 years. Done all the reading Rich Dad series, Jan Somers stuff and heaps more. I consider myself fairly well versed in the theory of IP...

I like this plan too! Now I need to convince myself that 5-10 Years in this house is tolerable.......It's nice and comfortable. But not in the area we want or the size we want. This will be a big lesson in delayed gratification, patience and learning to not look over at the grass on the other...

Hmmmm. So I think I'm looking at more time in the market with hopefully some cap growth. And some savings. Perhaps an IP or two is needed before I buy a upgrade to the PPOR. On with the education. I feel ready to get started and don't really want to be in a holding pattern.:rolleyes...

Thanks for the reply! I have read two variations on a theme that I want to make sure I understand. Is taking a home equity loan or LOC the same as using a property for security? I have struggled in my past reading to fully grasp how equity is released and how you use it, is there more than...

Long time occasional lurker but trying to get my skates on to do something. If there is a better place to ask this please let me know :) We have a PPOR purchased 24 months ago. LVR probably around 80% but confirming this over the coming few days. Fixed at 7.25 for 12 more months. Current Value...