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Thanks Terry and Rolf, Pretty much what I thought (a bit of a mess). The refinance was done under some mild duress, I should have said no when I went to sign and found out it was going to be x-collaterallised... My accountant has said he's OK with the tax deductibility, as long as I keep...

Hi All, I've read many of the offset / IP loan / tax deductibility threads but still can't get my head around my own situation. I once had this scenario: PPOR loan = $200,000 IP loan = $248,000 ; secured against IP only Equity LOC (for investment purposes) = $200,000 ; secured...

Hmmm, I probably shouldn't vote since Russell's agency manages one of my IPs, but at least I'll put in a plug for his services - outstanding and highly recommended :D

Thanks, I may give Breeze a try - looks like they're north Brisbane based though? :confused:

I know this question has been asked before, but I couldn't find any useful recommendations with my searches on the forum. Can anyone recommend a good PM for this area (Springfield / Springfield Lakes QLD 4300) ? Thanks :)

First IP: 1992 - $145K 3 bedroom highset brick veneer in Jamboree Heights (south-west Brisbane suburb), also had 3 extra rooms "built-in" underneath at the expense of 1 car space First PPOR: Same as above (when I moved into it 3 years later) Sold it in late 2000 (or early 2001?) for $135K...

Delilah, I couldn't believe it either, which is why I happened to find this thread. Here's why I was looking: I've had an IP in Springfield for just over a year - this is within Ipswich City Council. It's a 3 bed, 1 bath, 1 garage on 300 sqm ie it's small ! And yet the rates are about...

Steve! Isn't that your IP (No 41.) ??!! I haven't been on SS for ages but I recognise it from when you were helping me with ideas in early 2008; nearly bought one next door I think (eventually I bought in Parafield Gardens). Too funny! FF

Hi All, I was notified via my PM that my tenant had written a letter explaining this situation: A thermostat problem with the Hot Water service has caused their electricity bill to jump from around $200 to $700. The tenant has provided copies of their previous bills to verify this and the...

I had a good experience with Westpac this past week - albeit based on a pre-approval dated 22nd of June. Signed contract for IP on Saturday 19 Sept, broker put in loan application on Monday 21st, got the call back from broker on Thursday 24th Sept advising that loan was unconditionally...

Thanks Terry, Just following on a little from this - if a treatment for say, termites was necessary, could this be paid for using the LOC as described earlier? I suppose I'm thinking that it's not an 'everyday' type of expense/repair to keep the tenants happy but it also doesn't sound like a...

Hi Folks, I am just wondering if a LOC that is set up for investment purposes can be used to pay an expense such as a building and pest inspection? I understand that the inspection itself is a capital cost (added to the cost base of the property) but would like to know this: If a LOC is used...

Hi Corsa, I have been considering what you said about Adelaide Hills, particularly Mt. Barker. Doing due diligence from interstate, so wondering if you could perhaps help in general with: any areas to avoid in Mt.Barker? Thanks.

PT, Thanks very much for that link (I suppose I should have found the thread by searching myself). Cheers, Greg.

Hi All, I've been reading the recent (and excellent) discussions on the pros and cons of using a BA, like in this thread: http://www.somersoft.com/forums/showthread.php?t=52316&highlight=buyer%27s+agent Would anyone be able to recommended a BA that specializes in properties within 5-10km...

I have used OBI Insurance and found them to be very professional. http://www.obins.com.au/about_us.html Cheers, Greg

Thanks Gools, If I understand correctly, you're saying that the cost of footings can be (or is) additional to the advertised cost of a H & L package? Or perhaps there's a certain amount allowed which may increase depending on the circumstances of the particular property in question - is that...

Hi Folks, I'm looking at buying our 2nd IP somewhere around the Enfield / Clearview / Northfield areas (perhaps). Trying to find something around the 330K mark that is a new(ish) villa - I'm interstate and my question for anyone who might know or have any experiences with H & L packages in...

gwk, I have one at Carina (7km from the CBD as the crow flies) on a 377sqm block and we pay around $500 per quarter. Cheers, Greg

Thanks all for your answers; I don't think I'll be going down that path. Interesting though because I read a post just last week (can't remember the topic) where a couple in similar circumstances had bought their 2nd IP with that 99/1 ownership split. Anyway I will ask my accountant as well...