Recent content by Kildorragh

Draftsman it is then. A creative one. Thanks for your help.

Good morning, I own a property that is two-storey cut into a slope. It is two rectangles of the same length on top of each other although the lower floor is of smaller width to allow for the slope. All internal walls are made of gyprock. Two of the bedrooms are tiny, very tiny. We...

Thanks for all of your replies.....time to ponder.

The IP is P&I. I know it is frowned upon due to it partly being a "bad debt" but it is only averages an extra $245 per month on the repayments. It was personal choice to build some equity in the IP. Please don't shoot me. The car loan is fixed at 1.9% with penalty fee's (far outweighing the...

That's just it Skater but surely all new investors face this problem. I would love to find cash flow neutral properties in or around Adelaide - maybe I am looking in the wrong places. I realise it's not an easy game or everyone would be doing it. 850k worth of property, mortgages to the...

Thanks Kathryn but regularly review all outgoings to see if they can be trimmed in any way. I see many posters on here that refer to IP's 2, 3 and 4 before hitting a serviceability wall. We are not on a bad wage and would love to continue investing - probably as I stated, a mental block.

No Y-Man - not even approached lender/broker as yet. I am just trying to work out how the next IP can be serviced without having to worry about the figures.

Maybe it's a mental thing that I need to get my head around but servicibility is holding me back. My situation. PPOR purchased 2006 for 350k. Value now a conservative 450k. Outstanding mortgage of 122k. IP purchased in Dec 2008 for 350k - value now 400k. Rented out for 350 per week...

Thanks for all of your replies. Like I said at the start......bit of a novice. Work for a govt agency and the SS agreement in place specifies that IP loans are one of the options available. One of the guys in the office has been SS'ing into a IP loan account for the last three years...

Come on boys and girls.....treat me gently.......like I said....first IP. Concessionary.....rebatable.....? I promise I will not take offence if you treat me like a doughnut.

I assumed it was double dipping.........why do you think it is listed as one of the SS options? A visit to the accountant appears on the cards before adding signature!!

Good evening, I am about to embark on my first IP and have been lurking around this site for months devouring every snippet of info. Have got pre-approval sorted and am chomping at the bit. I was made aware last week that I am able to Salary Sacrifice 50% of my wages into the loan...