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  1. Lotana

    I am selling my DHA property

    Hi MJD, Are you still selling your Canberra DHA property? I tried to PM your, but you have PMs blocked.
  2. Lotana

    Redrawing from a joint loan

    Understand. But in my original question there was no undeductible interest. We have an investment loan and the whole interest is deductible to both A and B. "Example: Property investment loan is in 2 names Anna and Bob." B wants to redraw and invest in his own name claiming income and...
  3. Lotana

    Redrawing from a joint loan

    Hey Jason, Redraw or a separate loan is irrelevant. The question is if the loan is in 2 names but the investment is in only one name, who can claim interest expense on their tax return? Cheers,
  4. Lotana

    Redrawing from a joint loan

    Hmm, doesn't seem like we reached a consensus... Refinancing is unfortunately not an option. I tend to think that the right way (as suggested) would be for Anna and Bob to sign a loan agrrement for $50000. So Bob would claim interest on $50000 taken from the redraw and also interest on $50000...
  5. Lotana

    Redrawing from a joint loan

    This is actually more of a tax question... If a mortgage is in 2 names (with wife) and I redraw to buy investment in my own name, would I be able to claim a deduction for the whole interest? Example: Property investment loan is in 2 names Anna and Bob. The loan is interest only and has...
  6. Lotana

    Securing business loan with property

    Hi, I am looking to get a loan for business/investment using a paid off property as a security. Particularly interested in low docs as I am self employed. All low doc products I could find online say that the purpose couldn't be business. I struggle to understand why this restriction is in...
  7. Lotana

    Keeping track of multi year deductions

    A depreciation schedule will help you to track this kind of expenses. I also use excel for this. For each year each item has Opening value, amount of depreciation, and closing value. The closing value becomes the Opening Value for the following year. This is of course a simplified explanation...
  8. Lotana

    At what point do tenant requests become too much?

    We lease our properties (apartments) furnished and usually for a short term (2 weeks to 4 months). Now and then we have tenants with unreasonable requests. Over time, we worked out some ways to deal with it. Here is the list: 1. When a tenant calls with a complaint, always talk in a...
  9. Lotana

    Time to buy Sydney city apartments?

    Hi Alex, I agree about extra costs in apartment buildings. My friends are actually buying in buildings where most of the units are rented furnished (this increases the yield) and the buildings have a receptionist/building manager (this increases the holding cost). I am not sure what return...
  10. Lotana

    Time to buy Sydney city apartments?

    I actually mean "City". The area between Darling Harbour in the West, Hyde Park in the East, The Sydney Harbour in the North and Central Station in the South.
  11. Lotana

    Time to buy Sydney city apartments?

    The prices went down so much that the yield starts looking attractive, which may surely lead to some capital growth in the medium term? Frieds recently bought several 2-bedders at just over $300K each. Are any forumates buying city apartments in Sydney these days?
  12. Lotana

    Finding Errors In Your Bank Statements

    When I've seen these ads for the first time about 3 years ago I decided to recheck my loan statements. To my complete disapointment, the interest was calculated correctly on all 6 splits. However, I found, that the split fee of $300 was applied twice in one year, to different splits. The bank...
  13. Lotana

    Looking for a handsome No-doc product

    Krisitine, does ANZ ask for assets/liabilities and income/expenses declaration ? IMHO this is where the major difference between lo-doc and no-doc is.
  14. Lotana

    Looking for a handsome No-doc product

    Did anyone have experience with NO-doc loans recently? I am looking to borrow against a paid-off investment property at a conservative LVR to "refinance" a margin loan. Wishing to do it quickly - no financial documentation, no assests/liabilities statements. Can provide a mature ABN...
  15. Lotana


    Dear Chris, My deep sympathy to you and your family. Thank you for the words of caution that you found the strength to deliver to all of us. Lotana
  16. Lotana

    Margin Calls on Margin Loans

    Thommo, I use ANZ margin lending with E*Trade. This combination gives me a straight-through approval of orders. I maintain a total gearing level of share portfolio at about 80%, composed of 60% through the margin lending facility and 20% through a facility secured by residential property...
  17. Lotana

    NSW Land Tax - Notice of Assessment

    Carr signals possible land tax changes 23/02/2005 12:17:46 PM NSW Premier Bob Carr gave his strongest signal yet there would be changes to the unpopular land tax in this year's state budget. Mr Carr admitted he had been approached by Labor MPs unhappy with the abolition last year of...
  18. Lotana

    How many Properties are under your belt???

    Just made it into the 5 to 10 category. 4 out of 5 are in Sydney (including PPOR) with the last one in Melbourne. All Sydney IPs are rented furnished and are cf+. Haven't bought anything in the last year, focusing on sharemarket investment to build up a liquid buffer which I'll use to battle...
  19. Lotana

    How to outsmart bank's marketing people?

    I'd appreciate if anybody introduced me to a place where I could refinance at a lower interest rate than ReadyCreddit's 4.9% (except for Derivex, of course). Lotana
  20. Lotana

    How to outsmart bank's marketing people?

    Dee, in the scenario that you suggested, if they don't approve the 15K I may be left with a high-interest debt! Lotana