Recent content by ol mate

Hi all, I am looking to purchase several properties over the next 12+ months (most likely wa)an am currently researching the best way forward in regards to structuring etc. I've spoken to a few people regarding trusts and its benefits and protections etc however it seem to me it always...

Hi People. Im in the process of changing my IP loan to an offset instead of redraw facility. Before I change it over is it benificial for me to extract the redraw (approx 10k) and park it in the offset? What tax implications will this have? The money will evetually be used as a deposit for...

Uploaded workbook Example Objective: save as much as possible in 12 months Assumptions -135k PA personal income -1300 PM Rent - 6000 PM Payments - 10k starting amount. - 256k Loan - 5k deduction on house (random figure) do I: A: Pay interest only on loan and put surplus in 100%...

sorry for the crap image i can upload excel workbook when i get home. I had to enable circular references to do the offset calculations..any way to calculate these without circular reference? so In summary..... It doesn't matter, both work out almost the same. Any input?

Hi People Just did up a simple spreadsheet to help me understand tax implications I may face (basic stuff I know) when using particular products and wouldn't mid getting some input/comments on whether I have done it right or I have left something out that might alter the outcome. Once I have...

Woo steady up people, no ones defaulting, writing litigation nor are there damages. Just want to return me house to the same condition as I gave it to them and bill em for my time. Lol.

Thanks for your input guys. I have submitted an invoice, real estate will let me know if any problems. It is surprising how quick these cost add up for the the tenant. I really couldn't self manage as i am on the wrong side of the country 2 out of 3 weeks. Normally I would have the PM...

Hi people I recently had a vacate and whilst the place is relatively clean there were s few items requiring attention ie lights were missing, screens were missing/ damaged, rubbish in back yard etc which I rectified myself due to having dome tile repairs done (not tenant related). My PM...

True however I do not have an offset facility at the moment and due to aggressive savings on a shoe string budget I believe if I redraw the loan for personal expenses (unexpected bills etc) I will create a tax headache yeah? That portion I redraw becomes non deduct able?. At the moment I am...

Via the 1500 a week I put away

Correct its the direction i want to head though nothing is set in stone. Valuation will be done once repairs on house are completed before new tenant moves in. Is this best to organise through the banks or a 3rd party.

So if I go for a LOC pay down the LOC until i achieve say 50k, redraw that as deposit for IP2 and continue like this letting say IP2's interest capitalise with all payments going into IP1 for IP3 servicing IP2 where neccessary.. is this scenario doable or have major flaws?

Will be having a chat to a broker and lender next time I'm home to discuss refinance. Is a LOC able to be established as a primary loan or is it only a product that is secured by the equity of another loan?

Rolf: Not too sure on sales figures but i believe market is flat due to poor economics alot of businesses/industries closing down causing low new home approval figures. Although the rental availability in my suburb has dropped below 2%, two mines coming online later this year are sourcing...

Perhaps refinance to a loan that has an offset acc now.. or keep existing no fee loan and restructure on purchase of ip2..