Recent content by MFG

Hi propertynwbie, if i am in your position, i would save up the 100k as plan in the current PPOR offset acc. when you decide to move into the IP and then convert your current PPOR into IP, I would 1.pay off the LOC fully with the 100k available. As Steve mentioned earlier, this LOC will...

Hi, Yes, LOC has to be paid in some point. One way is either to decrease the PPOR home loan amount and apply for increase in LOC amount, service LOC on LOC. PRO- decrease non tax deductable debt. CON- not good for PPOR turn IP in future. Second option, when the property valur rise, apply for...

Great thread people. how can i miss this thread. i read this yesterday. just called cba home loan team... referred to retention team - to be called back in a next few days.. fingers cross...

Tough lesson. thanks for sharing

Terry, thanks for the clarification. Yes, i am only refinancing one from another. cheers, Scott

Terry, I am thinking of moving my IPs loans and the LOC to another bank. The LOC is fully for investment purposes. Have you heard of cases where ATO deny interest from the new LOC? cheers, Scott

Thanks Peter. Do you reckon that the new LOC is tax deductible too? Thanks Scott

hi PT Bear, thank you for the infor. i am fully aware of the setup and the property as the security of LOC. what is dibs? cheers, Scott

Hi, i am thinking of refinancing the property with LOC drawn, LOC is fully used for IP purposes only. If i refinance this property with another bank, i will be paying off the LOC by setting up another LOC from the new bank with the same property. Is the interest off the new LOC from the...

Mawson Lakes, i think the CG is pretty flat at this stage. i built my own hm there. CG - yes. Playford Alive is further away to the city than ML. personally, i am not buying into the project. again, its subjective. Scott

Welcome, i am into this not long as well. the start up structure is important. try not to tied on the PPOR and IP into one loan -> messy in later. Lawyer -> can get sued just like docs? -> IP in name of trust? -> no negative gearing applied to your income if in Trust name. is your...

not sure how true, heard that the area was a druggy area in the past. not sure about now.

been to all 3 places last Sept. booked them all thru expedia.com.au i dont trust lonely planet and similar for food recommendation. use google map to plan ahead. - street view is wonderful v gd experiences. scott

i love reading this threat and realise what a small potato i am... i have no property under my name. 2 under my wife in SA Mawson Lakes Scott :)

hi, btw, i was thinking of fixing my rates too. but now, with the floods in QLD -> Aust GDP forecast to fall, it is unlikely (or unwise) to have a rate rise. the reverse may be true is the economy is in real bad shape. just my 2 cents worth, cheers, Scott