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    Beating Procrastination

    No I'm not a man, and I find the above really unhelpful.
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    Want to buy equity with IP4… but how?

    It was $130k of savings...!!! At 6.5% pa interest that's $8500 per year. All IPs are in my name 99% (and spouse 1%). My marginal tax rate is 30% so this year I could've been better off by $2.5k.... aah! All is not lost, though. We are going to pull out the PPOR equity to buy a...
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    Want to buy equity with IP4… but how?

    Thanks Aaron. That is extremely super helpful. In that case I think I messed up with the 3 IPs that I have already bought. Should have used equity to buy them, not our savings! Lesson learnt for the future. Because we don't need all the available equity.... I see what you are saying, we...
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    Want to buy equity with IP4… but how?

    Hang on - I just realised that I still don't completely understand the process of withdrawing equity and maintaining tax deductibility under the 'purpose' rule. My PPOR has a loan of $480k and value of $750k. If I get the bank to revalue the PPOR to $700k (which should be no problem as the...
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    Council rates

    I have been wondering about this for a while. We pay $300 pq for our PPOR council rates. Unimproved land value is around $300k and value is around $750k. 300 sqm of land. We pay $500 pq for our IP council rates. Unimproved land value is $150k and value around $300k. 450 sqm of land. So...
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    Want to buy equity with IP4… but how?

    I'm with Westpac and no, the loans are all standalone. I just summed up the loans and value to avoid boring people with too much information sharing. Thanks for letting me know about the PPOR vs IP thing. I didn't know that. Looks like I can just take $60k from the PPOR then. Or I guess I...
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    Want to buy equity with IP4… but how?

    I am running at 66% LVR ($1m loans to $1.5m value) and want to withdraw some equity for the next IP deposit so that I can keep my offset savings ($30k) as a buffer. We have $3k per month to service our next IP. I want to buy a $300k IP which would mean accessing $60k of equity (assuming 80%...
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    Super co-contribution when you have IPs

    I'm debating whether to make a voluntary contribution of $1k into my super for the co-contribution. I earned $30k gross this financial year but had $40k rental income (and $40k deductions). If I owned the IPs on my own, my assessable income would be $70k so I wouldn't be eligible for the...
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    Building a Granny Flat - Part 3 - Open House

    Kudos to you for doing this! Would take up the offer but it's the AFL grand final that day, so won't be able to make it.
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    Got an offer out of the blue - property not even for sale!

    I'd think that was out of line too! This has happened to my brother too. Agent looked up his details on RP data - called him up even though he's registered as "do not call". :rolleyes: Agent then proceeded to push an offer on him and stormed off in a huff when he rejected it... Maybe it...
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    Finding out after settlement... strata levies $5k in arrears!

    Hi all, Good news, a mistake had been made but they are rectifying it now so my cousin isn't out of pocket. as my cousin is a newbie to PI he just needed a bit of a push to send him to the solicitor - thanks for providing your input which was necessary for him to take that 1st step! He was...
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    Finding out after settlement... strata levies $5k in arrears!

    Thanks Rolf, will keep this thread updated about what happens, but I'm a pessimist so I must admit I can't really see any point in chasing the vendor up for the extra $5k, nor the conveyancing solicitor (even though it was their mistake). But hopefully my cuz will be pleasantly surprised by the...
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    Finding out after settlement... strata levies $5k in arrears!

    Yes, and the strata levies were adjusted, but just for the quarter that the settlement took place in, rather than by the whole of the amount in arrears, if that makes sense. My cuz is just wondering whether to contact his solicitor or not!
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    Finding out after settlement... strata levies $5k in arrears!

    Hi all, My cousin would like a quick yes/no answer as to whether it's the solicitor's fault if, after buying a strata titled apartment, the strata levies were in arrears by $5k and this was NOT adjusted for at settlement. Needless to say, he's a little peeved at having to fork out $5k...
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    How to evaluate IPs for yield/CG (spreadsheet?)

    Ditto, that's the one I use, it's fab, shows your after tax cashflow etc.
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    Property Mgr Central Coast Gosford Areas

    Great thread - I too am looking for a PM at Gosford - how did you go, Empty_Pockets? I also have an IP near Gorokan, does anyone know of a PM who will service both areas? I was hoping to negotiate a 5.5% fee with the PM for bringing both properties across to them. Unfortunately most people seem...
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    Recommended Tradies and Other Useful Contacts

    Ditto - especially carpet layers in Sydney! Cheers :)
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    best landlord insurance?

    Bump! Am looking for LL insurance, currently tossing up between EBM and Terri Scheer. Wondered if anyone had any more opinions they wanted to add. Also, do any places give you discounts if you have multiple IPs with the same insurance provider? Thanks :)
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    To pay LMI or not to pay?

    Thanks Tracey! That was a good read :) Update: I'm currently negotiating to buy an IP that is approximately 10% undervalued under true market value and comparable sales. My intention is to have it revalued ASAP so that I can pull out the equity and use it towards a deposit on my next IP. With...
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    To pay LMI or not to pay?

    Thanks everyone for your thoughts! No we won't be going out and buying 5 in one hit, we were planning on buying 1 a year (the excess cash can just park in the offset). Unless we see some bargains this year then we might buy 2 :) All 5 IPs would be very cheap IPs though ($200k) so we may yet...
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