Recent content by prep

Thanks guys. As I suspected..had always known it would be difficult going from PPOR->IP. the 50k is not in a separate loan, I believe it was a loan top up and became available via redraw. I had always read (without obviously going into enough detail) that money in offset was better than in...

Hi All, We just just purchased a new property and I would like some advice. We have seen an accountant however I don't believe he is too clued up on anything other than personal tax. I would just like to validate a few things. We bought out first property 2 years ago and have been living...

Hi Rolf, Thanks for clarifying. Yes I paid LMI on the original purchase. My understanding was that I would have to pay this again anyway in 12 months time if I refinanced to 90% ? I think I need to go and speak to CBA tomorrow and see what they say. Servicing the new loan will not be a...

Hi Rolf, can you expand on why I shouldnt (assuming I could) take the 30k now ? I wont be doing any more work on the house in the next 12 months and given Perths current market I dont see much growth anyway. Think I was lucky to not have it valued as it was 18 months ago! Would seem like a...

Hi Guys, I currently have 86% LVR 355k debt, 410k property (PPOR) Ubank has valued my property at $440k giving me ~80% LVR My intention is to more to a bigger PPOR in 12 months time, I would like to supplement my savings (20k) with equity from my current PPOR to use as a deposit for the...

Hi All, Two questions 1) I intend to move out of my PPOR and turn it into a IP within the next 18 months or so (have lived here 12 months). In terms of saving for a deposit for my next PPOR, should I be saving into my MISA or depositing directly into my homeloan ? I understand tax...

Hi Guys, I posted on this site a few months ago and got some good suggestions as to where to buy. I ended up buying a 2x1 property 5-6minutes walk to the beach. Its in a block of around 13 units all ground floor and its around 100m2 all up I think. I think I got a fairly good price however...

Hi Guys, A lot of the books I have been reading mention that living off equity is the ultimate goal. So do not have to continue your day job to support yourself and your investments but rather use your equity to cover living and interest expenses. Has anyone achieved this and done it in...

thanks guys for explaining that. I have purchased, but I just like to understand where im going and what im getting myself into Cheers.

So there must be a point where no matter how much equity you have you cannot purchase anymore properties as your cash flow is the limiting factor? I assume for most average wage earners this point is reached at 2 – 3 properties? So what is the benefit of owning cash flow negative properties...

Hi Guys, So far in the books I have read, one of the main opinions is that using equity is the best way to purchase more properties more quickly. I am a bit confused...whats the difference between drawing equity from say your PPOR and just getting another mortgage for 100%+costs of the...

yes your right..nothings to difficult :) Just worried about the timing in regards to the FHOG. Is it A) You have to occupy the property for 6 months WITHIN the first 12 months OR B) You have to occupy the property for 6 months however you just have to move in WITHIN 12 months I am...

Well guys..my plan has just gone down the drain I think. The current tenant has been on a periodic lease since mid January and I just found out today they are not wanting to stay. The FHOG rule of having to live in the property for 6 months within the first 12 months…how strict are those time...

Thanks Jason.

Hi Guys. Well we brought something..only a verbal acceptance so far but all looks good. A fair bit higher than our budget but we are happy. Was on the market for 400-425, we got it for 410k. In a small complex, has nice sized rooms and plenty of potential in the kitchen and bathroom...