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  1. K

    P&I or IO after 5 years?

    I've currently got two loans interest only and will renew them as such after the initial 5 years. I don't have a choice, the cash flow is essential to control for me.
  2. K

    Refinancing for 1st IP - Offset account and use of funds question

    Not sure if I'm on the right track here... If you have an IO loan for an investment property with 100% offset account and put all you cash into the account (wages etc) and then use that offset account to make all purchases, including personal non-investment purchases, is the interest still...
  3. K

    Too hard, too fast?

    Fair comment Harro. Good point Jeremy, I never really looked into developing though as I thought (probably wrongly) that you needed a lot of cash/equity to be able to afford a loan for land and construction plus holding costs while the property is being developed. Also the concern of...
  4. K

    Too hard, too fast?

    Ahh... I feel the nostalgia creeping in. Indeed, the shine came off D3 pretty quickly unfortunately. I agree, I'd love to have additional income but not sure how to go about it, certificates and the like are quite expensive and time consuming without any guarantee that it'll pay off...
  5. K

    Too hard, too fast?

    Thanks for the feedback CJay, I have looked into different and additional employment opportunities such as a second job but it's a bit of a struggle in this area, higher unemployment levels than state average. Thanks Cliff, I appreciate the honest information.
  6. K

    Too hard, too fast?

    Ahh, don't worry - I spent many hours and late nights playing Diablo 2 as well! I have an Excell sheet that I throw figures in to see how I'm tracking (it's not complex by any imagination), that was the catalyst for this thread. I put some numbers in there to see where I'd sit with another...
  7. K

    Too hard, too fast?

    Honestly I'm looking to have sufficient passive income to either supplement my existing income or enable me to choose not to work if I wish, thus obtaining the much sought after financial freedom. 50k passive income would be much more than I earn already and I'd be happy with that, however...
  8. K

    Too hard, too fast?

    I haven't really looked into NRAS properties at this stage, I'm not too familiar with them but it's certainly worth looking into further. Thanks for the recommendation. I hope it moves soon. I'm a little priced out of the Jetty unfortunately, typically you have to pay quite a premium to...
  9. K

    Too hard, too fast?

    The properties are in Coffs Harbour and Toormina. The primary reason for investing that location is it's where I grew up and currently live so I'm very familiar with the sale and rental market. The suburbs have experienced moderate growth over the last 5 years and average growth over the last...
  10. K

    Too hard, too fast?

    Thanks for the feedback everyone. The low income is definitely a factor, I live in what's considered a 'rural' city so wages are naturally much lower. The bank has given me the loans I think primarily because I have no existing debt apart from the investment properties and the rental...
  11. K

    Too hard, too fast?

    Good afternoon ladies and gents, After many hours of reading through this incredible forum I'm two years into developing my portfolio. But now I'm not sure where to go from here, hopefully someone can offer some insight? I currently have two properties that are essentially...
  12. K

    Settlement / Purchase costs

    Hi all, I'm looking at trying to buy my second I.P (thanks to the wonderful help of you magnificent forum members). I have a question on the acquisition of funds for settlement costs (such as stamp duty, conveyancing fees etc). I plan on taking a new loan at 95% LVR and have enough funds...
  13. K

    Purchase next property

    Thank you all for your replies. I've checked recent sales on RP Data and it seems that there were a few sales of units in the same street around $170k - $175k(ish) and others in streets within 500m radius that were creeping close to, or exceeding 200k (probably better condition). My...
  14. K

    Purchase next property

    Hi ladies and gentlemen, I purchased my first investment property around August last year (2012) and now want to look at purchasing my second investment property, I'm just not sure on the best way to do it. I'm still new to the whole investing scene and don't have a terrible lot of...
  15. K

    Trying to start out

    Thank you all for your responses. It is comforting to know that I'm least some-what on the right track. I do have a few more questions if I may: 1. Jamie_M says that a lender will likely roll over an IO term into another IO term upon expiry, however, is there a limit (generally...
  16. K

    Trying to start out

    Before I get to my question I just want to say what a fantastic forum this is, such a wealth of information! and thank you for taking the time to read my thread. Regarding my post, I am trying to plan my plunge into the property investment market. To help set the scene, I am turning 22 this...
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