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Thanks everyone!

Yes, you would be $858 cash better off after completing your tax return with those exact numbers. Obviously there are some large assumptions there. Things that are also important are; - You have spent $85k in deposits and costs, is this the best use of the funds? - You have made $17k in...

A mortgage broker will be able to give you specifics. With your income and equity you could purchase over 5m worth of IPs without even incurring LMI costs. Servicing should be OK too if you don't buy too negative. Sky's the limit! Good luck.

Find your old broker or a new one. Don't stick with someone holding you back. Current broker will get trailing commission from current loans. New broker from new loans and refinances.

Interesting, I'll be following along. Best of luck to your friends.

Think it is the last part of your original post tester. "... 2nd LOC against PPOR IO loan payment." Paying interest with a LOC. Terry already addressed this. "I wouldn't advise on borrowing to pay interest usually." My understanding is that costs of maintaining an IP are tax...

I'm working during the day, no on call that night so I can drop in if you think you'll kick on past half six.

Considering the your goals are to diversify into property around Brisbane. It would also seem CG is your main priority. My thoughts would be; - Spend time reading this forum and other peoples stories to get a better understanding of the basics. - Sink your $400k cheques into your home...

Welcome to SS, Is there a question or feedback you are looking for? It is not clear from your post. From your post your assessment is prices are falling so you might get a cheaper property. Rent is suffering due to an over supply, will this make holding costs difficult? Do these...

Shouldn't be. Only thing mentioned was the light and they would forward paperwork to sign, which they did, only the bill. Plan to ask, thought I'd get some advice first.

Just got the final invoice for my build on an IP. It has a variation cost of $336 added, I assume this is for a light that was forgotten on the electrical plan in the walk in pantry which was added before signing the contract. Yes I should have read the electrical plan more closely, however...

Great work. Numbers look good at a glance

1 - Only if they have very good prospects for future capital gains 2 - National Rental Affordability Scheme, basically the Gov offers incentives to the owner to keep the rent low. 3 - This one is not for me. Be careful who you listen to, ask yourself what is in it for them.

You have come to the right place to start. Spend some time here reading as much as you can, eventually things start to sink in. Use the search function for specific questions. There is buzz around new properties because more parties have more to gain from their build and sale VS an...

Long term I plan on heading that way, still a number of years away. Not sure where I would put my dollars if I was in the position to transition today.

I got lazy and emailed. Not too annoying given most people opinions of BankWest, was hoping to have some higher lending to get a better rate. Oh well as long as some bank will have me.

I did. :eek: MB about to get a call

I have to work tomorrow/tomorrow night. Unless I come down with a sudden man-flu :p Have a good night. Hope to hear the stories.

There are plenty about so no need to make your own, check out the Somersoft spreadsheets available for download. Keep in mind that you can't use 100% over CG and that growth often happens in booms and busts. To answer your question for a compounding growth equation, here it is from...

Basically because s**t happens. Banks need to assess for this and manage their risk and exposure. Real question is why are you doing this yourself? Get yourself a mortgage broker ASAP who will do all the sums for you and get you the best loan for your purposes. You can ask for X amount of...