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  1. J

    Renting out PPOR and claiming interest tax deductions

    Hi all, Hoping I might run this past the brains trust.... The scenario is: The girlfriend buys a property as an Owner Occ, borrowing 95% LVR, claims the FHOG, lives in it for 6 months to meet SRO requirements... She then moves out and rents the property out... The questions is can the...
  2. J

    Hopeless case..or not ?

    Meljup, With 3 years discharged you may struggle to get through LMI. I believe Liberty has a good rate up to 90% more than 3 years bankrupt and they don't use PMI or Genworth. Subprime may mean policies are tighter but a possible option. You would need to refi your Rams facility...
  3. J

    On the grown up table now!

    Well we had our first budget on Monday night. Sat down with an excel spreadsheet and went through everything... We are putting aside 2K per month for the new mortgage. I think it is better to finance into a property now rather than wait 6 months until we have the savings to be at 95%. We've...
  4. J

    On the grown up table now!

    Thankyou Wylie Steve, Skater and Dingo for your replies... I'm leaning toward the thinking of getting into the market again whilst it is still moving and creating growth via subdivision later. I can even get the approvals process underway now and sit on it... good idea... I need to do...
  5. J

    On the grown up table now!

    Hi all, I've been reading this forum on and off for at least 5-6 years now. I love that so many experienced people generously offer and share their thoughts and ideas here. So in the hope that some of you may offer me some suggestions here is my situation... My girlfriend and I are in...
  6. J

    Big Problem

    I know a lot of details, but not all. Yep it was a cashback deal.... I'd say the vendor was definately in......otherwise how could it have been done. So he got some cashback as i understand it, but the place has been settled for more than a year.....and the "cashback" to service is...
  7. J

    Big Problem

    My friend has a big problem He has been guided into doing a little "creative financing" by some not so clean characters. Basic problem is that he was planning another deal to tie in with the house he has now. He is very young and turns out not too clever. A bank has a mortgage over...
  8. J

    Real estate careers

    Reply: 1.1.2 From: Andy Duncan The pay is ordinary and the turnover is massive. Just look in the careers section or local papers and you will see what i mean. I've never been a property manager so i'm not exactly an authority on it. But i can say that i give mine a hard time. imagine...
  9. J

    Analysis Paralysis

    Reply: 3.1 From: Andy Duncan what is the worst thing that can happen to you? Will u die if you make a wrong decision? NO! Will u not have enough food to eat? Government will look after you. Will your family and friends think you are a loser? Probably. But that is their problem not yours...
  10. J

    "Oops, forgot to turn the tap off."

    Reply: 1 From: Andy Duncan Flat out losers aren't they.....destined to go nowhere. If u need to re strip the floorboards - $13 per square for 3 coats of 2 pack is the cheapest u can get. If u pay around $20 u will get a good job. As a former Floor Sander I would advise u leave it for a 5-6...
  11. J

    Renovating as a career

    Reply: 1.2.2.1 From: Andy Duncan I too would love to do this full time Michael. Like you I am in the building trade and see what can be done via renos etc. I just completed a reno working on it after hours and it certainly takes its toll. I spent 10K and have had it revalued from 230K to...
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