Recent content by MYOBB

Thanks for the advice guys, this really helps clear things up. With the portion of my LOC on my PPOR that I used to buy my last IP, what records do I need for the tax man to prove it is deductible debt.

PPOR - 20%, IP#1 - 10%, IP2 - 10%

I now have 1 PPOR & 2 IP's, but am still carrying a loan on my PPOR. My PPOR is a LOC & I know all the reasons why I should pay off my PPOR loan, but the temptation to convert any freed up equity/cash in the LOC is to great. (ie. convert this equity/cash into more IP's). Because after all, the...

Rolph, Excellent information, this was the missing piece of the puzzle I needed to see my investment future. I think I will amend my evil ways & implement a non-collatoralised structure for the future.

Rolph, ppor LOC $121,000, Value $185,000 IP IO $147,000, Value $147,000 Proposed 2nd IP IO $190000, Value $180,000. or am I heading into troubled waters..........:confused:

Currently both existing properties are with Bankwest.

Rolph, The new loan would be below $200k, would be IO & the total LVR between 87-89%. I thought the maximum LVR was 90%, yet you mention 95%. I understand that the LVR on this 3rd loan would be greater than 90% but the total LVR of all my properties is in the above range. Am I cross...

I have my PPOR & 1 IP and am keen to get a 2nd IP, however my LVR is approaching 90%. Is mortgage insurance calulated on a sliding scale & does anyone have this info so I can determine the damage. Also should I wait till my LVR is below 80% (avoiding Mortgage Insurance) or is this just a...