Recent content by mjinwa

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Thanks Steve, I have been trying to contact CBA to ask what their process is but the phone queue is too full - probably with people complaining about the rates rise. I will try again in a couple of days. Will also need to rethink the cash buffer strategy as well. regards Mike

Hi all, I am doing some contingency planning on my portfolio before I purchase some more properties. Part of this contingency planning is developing a strategy if either my wife or I should die. What I am interested to know is what would the banks do if were to die suddenly and unexpectedly...

Hi All, I have recently established an SMSF and roll overs are now complete so I am now looking for a MB with experience in establishing loans to purchase property within the SMSF. From some of the posts I have read it would seem that there are a number of MBs on the list with experience in...

Thanks all, Decided it was too risky to do under the "yet to be fully set up SMSF" and put an offer in under own name. However missed out on the property so now have more time to finish the SMSF process. regards Mike

I am in process of setting up a SMSF but ABN is not through yet therefore do not have a bank account. This weekend I have found a property I want to put an offer in on and will will need to put down a deposit sooner than later. Question is - can I front up with the deposit or does it need to...

Will put both on the lease as I am confident in the relationship(s) involved. Will get written rent appraisals as per my standard process and will use the appropriate one ;) regards Mike

Thanks Propertunity, My thoughts were as long as I keep it on a commercial basis I should be OK, just wanted to tap the collective wisdom of SS in case there are some bear traps. KK - good question, but I never underestimate the systems the ATO have these days for cross checking info...

What are the tax implications of renting an IP to a family member (22 yr old son & partner) ? Rent would be based on written quotes obtained from Property Agents and correct tenancy agreements, bonds etc would be in place. The arrangement is mutually agreeable to both of us, but would the ATO...

shanematt - I am in much the same situation as I am in the middle of setting up an SMSF and working out what insurances I need. It ain't simple and the insurance broker is not much help as he is trying to maximise his commission. In the end it comes down to what risk you want to assume and...

Virgo, I recently got a pre-approval through CBA for a 95% loan and it was a condition of the LMI insurer that we did a 90:10 split. When we were first told this I asked MB to go back and confirm which she did, seems they want both of us to have a stake in the property as my wife's income is...

Mandurah property Living in Mandurah and owning an IP as well, we have been watching the market closely over the past 12 months. The drop in reported median price is definitely affected by the canal homes which have come back significantly. Also the area south of Halls head - 4x2 family...

All, I am currently seeking preapproval for a 95% loan through CBA for 550k. Consequently I will need LMI. Due to current loans that I have I need to include my wife's salary in the servicability calculation and my MB is telling me that the LMI insurer won't allow the loan with my wife as a...

Thanks BayView, Seems you have 2 points of simplification for me to look at 1) Consolidate my credit cards so all expenses come from the one CC 2) Get my PMs to pay the bills. Being relatively new to this I am paying all of the bills at present (must be the controller aspect in me)...

IP expenses on CC I have almost the same setup as BayView and ensure I have strict separation of investment and personal expenditure. In addition I have a credit card (no FF points) linked to the investment LOC so that the expenses are separated as well. Not sure if this is absolutely...