Good point regarding the title etc. I will double check but I believe the title is under my name and my wife is the joint tenant 50/50 ownership.
my wife will probably only work 2 days per week. She is paid well but won't earn as much as myself as I work full time.
yes won't be changing...
I certainly will be changing to i/o - however one portion is fixed until mid Feb so I am a little stuck there. I'll have to merge it and then change it I guess.
My immediate goal is to ensure our lifestyle isn't hindered any further - so a small gain in tax refund $$ will lead to a higher...
I haven't included depreciation - I guess I could roughly say 2k or so
We did pay LMI but it was reduced by 50% by the bank for us.
I guess we would still be ahead in the fact that at the moment we are paying p&i. The difference is quite considerable - which means those excess funds can be...
Thanks for the info
So it doesn't really work out to be too much of a negative amount (based on some rough figures)
Rental income per year = $23400
minus deductions of 21k of interest + general expenses = $24900
Total - negative -$1500
Our rent in the other house will be about 21.5k...
Thanks for the tips here.
Just so I can get my head around some of the basics before talking to an accountant etc
Tell me if I'm on the right track here or not.
Current Loan amount is $409k
at IO approx $802 per fortnight in interest only repayments (approx 21k per year)
We rent it...
So here goes my questions .. :)
2 years ago my wife and I built a lovely house - a little way out from Brisbane CBD. House is valued at around 480k, current outstanding loan is $409k.I am currently paying P&I and have an offset account.
Our situation has now changed and we now have a 5...
Doesn't matter anymore - contract went unconditional today to the other buyer who had their foreign investment funding approved.
Totally gutted & pissed off to say the least. Back to the drawing board.
Totally agree
Thanks mate - good advice from everyone - appreciated. I've got a solicitor looking over it all for me. If it wasn't such a good buy I would of just walked away in the beginning! :)
The 72 hour thing is only valid once we sign a contract to make an offer as in the special terms they've left it blank to be filled in on the day an offer is made and signed for - because that special term is applicable to the seller and the current buyer with a contract on it
The agent is...
Exactly - this is what we don't understand. From what the RE told me if we were to put in and offer today - it would be three days /72 hours before we would know if the offer is accepted.
heres the clause
"This contract is subject to a contract between (seller) & buyer - dated (date)...
Hi All,
So my partner and I found the house we want after many months of searching and getting frustrated & feeling like just giving up
The real estate agent advises us there is a contract on the house and its subject to Foreign Investment review. We were also told we can put in an offer...
Has anyone here bought land or done much research about this area ? What are the cons ?
Some of the cheapest ive yet to find thats close enough to a beach