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  1. V

    Is this loan structure sound enough?

    Thank you Bigtone, I really appreciate your help :)
  2. V

    Big deposit – any risks?

    Thanks all for your replies. We will put 5% down on exchange of contracts, 20% on settlement and the rest in an offset account. We initially thought that having a bigger deposit would get us more bargaining power, but it's definitely not worth the risks involved.
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    Is this loan structure sound enough?

    Thank you Bigtone for your reply. I noticed you put I/O for split one, is it not ideal to pay off some principal for a PPOR not being converted to an IP? By split 3 do you mean a loan with redraw facility? Sounds like a good idea :)
  4. V

    How much to offer?

    Thank you all for your answers thus far. The property was originally listed at $579 and sat on the market for 5 weeks with no offers so they dropped it to $559. The prices in the area vary but in my opinion a final price of $530-$535K is quite reasonable, I just don't know the best way to get...
  5. V

    Big deposit – any risks?

    Hi there, we are planning to put almost 40% deposit on the purchase price on a property. This is for a PPOR which we do not intend to convert to an IP as it is semi rural and I personally don’t think it will have a very good rental yield. Being rather new to the buying process, we are wondering...
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    How much to offer?

    We have come across a property listed at $559K. We only want to pay a maximum of $535K. I say we start negotiations at $500K and try to end up at a happy medium. My partner says don’t muck them around and just offer them $530K, and tell them we are not that negotiable over $530K. What do you...
  7. V

    Is this loan structure sound enough?

    Hi there, This is our 2nd purchase and we are quite green still on buying property. I was hoping that someone could confirm that my potential loan structure is sound as we are going to make an offer on a property and obtain finance soon. This is for a PPOR which we do not intend to convert to...
  8. V

    PPOR to IP - valuation required yet?

    Hi again, I thought I might try my luck again to get some clarification. - Is there the option as mentioned by Dan C to use the 'valuation rule' or 'percentage of time' rule when converting PPOR to IP? - Do I have to do the valuation right now even though I will be renting for 6 months...
  9. V

    PPOR to IP - valuation required yet?

    Hi zargor, being a noobie, I haven't found a proper investment property accountant yet. I did however ask my personal tax accountant last week about this and we had cancelled the valuation due to her advice (I regret this now) She said - no need to get a valuation done yet as we get 6 months...
  10. V

    PPOR to IP - valuation required yet?

    Thank you all for your replies :) We have decided not to do a valuation and go with the 'percentage of time producing income rule' as described by Dan C. We don't really want to disturb the tenants as they moved in last Friday. Hopefully this would work out the best for us anyway.
  11. V

    PPOR to IP - valuation required yet?

    If the valuation is required for cgt purposes, but the cgt won't kick in because I am renting for 6 months, and then I am able to buy another ppor and claim 2 ppors for another 6 months, I don't really understand why I have to do the valuation now. It would cost $440 and I don't really want to...
  12. V

    PPOR to IP - valuation required yet?

    Hi there, I'm about to convert my ppor of 3.5 years to an IP. We will be moving to a rental property for 6 months and then buying a new PPOR. I have read many times on the forum that valuation is important when converting PPOR to IP, but how about in this scenario where I can still claim my IP...
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    Councils uncooperative - who to call?

    Thank you very much Martin for your recommendation. The reason why we are doing this is because my dad has cash from selling his house 6 months ago and all of us are currently looking for a PPOR. My fiancee and I have wanted to buy an acreage property for a long time so we thought that by...
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    Councils uncooperative - who to call?

    Hi mystery/martin, is it possible to pm the details of your town planning consultant please? It would be much appreciated Hi Kit, we are looking at both Logan and ipswich areas and asked both questions. Ipswich seems to be more flexible than Logan and have more reasonably priced properties on...
  15. V

    PPOR to IP Valuation Question

    I was just reconfirming this as I had always thought that people were only able to claim one PPOR at any time. The accountant does my personal tax returns so I wasn't sure whether she was knowledgeable in investment property matters. So it is true? I won't need to do a valuation for another year?
  16. V

    Councils uncooperative - who to call?

    We are interested in doing a dual occupancy with my dad in the logan/ipswich area, Qld. We want to buy a block of land with a house already on it with subdivision potential and then building a 2nd house on the block. Being very green to this, we have many questions. We have tried to ask the...
  17. V

    PPOR to IP Valuation Question

    Hi everyone, we are about to convert our PPOR of 3 years to an IP. We are then going to rent for 6 months and then buy a new PPOR. We were going to get the valuation done for capital gains purposes early next week before the tenants move in. However my accountant informed me today that since I...
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    Is it true that banks are no offering pre-approval right now

    Is it true that banks are not offering pre-approval right now Hi there, my friend signed the contracts for an apartment and then applied for finance. The finance fell through and they wasted over a $1K on expenses. I asked him why didn't he get pre-approval before looking at houses and his...
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    Yet another PPOR to IP thread

    2 days and no answer. Maybe I got too enthusiastic and over-complicated my post. I really just want to know 1 thing, since I am going to proceed with the application for my equity loan from my current PPOR which is going to convert into an IP. Will taking a split equity loan over my current...
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    Yet another PPOR to IP thread

    Thanks Sash for your reply. Both my partner and me are on the 30% tax bracket so after tax we are getting about $61K. Our jobs are secure - as far as I know. We estimate that the rent & tax deductions will cover the IP expenses but have not got professional confirmation yet. If I set this...
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