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  1. westminster

    Did you overextend yourself buying 1st IP - Importance of Buffer

    Congrats Ms Keaton :) i think you'll be able to find something here if you look carefully. On realestate.com.au use Perth - Greater Region and you can search all of Perth with your criteria. You can sometimes find some worth investigating. I found: Dudley Park (Mandurah) 2 x 1 $109k -...
  2. westminster

    Did you overextend yourself buying 1st IP - Importance of Buffer

    I've just realised that you are most likely a Perth gal. Love to see you at the next SS Perth Catch up.
  3. westminster

    Did you overextend yourself buying 1st IP - Importance of Buffer

    Or you could offset let's say 50% so you try and reduce that 46% tax somewhat. Sit on the fence - you can increase the offset at any time if you choose you don't want to pay interest. With your beautiful cash savings you need to do lots of modelling to work out what suits your risk profile...
  4. westminster

    Did you overextend yourself buying 1st IP - Importance of Buffer

    China - money in your offset it yours to use whenever you need. I am using offset to reduce the amount of interest I need to pay - yes that interest is tax deductible but it's more financial sense to reduce your mortgage payments than claim it against tax.
  5. westminster

    Did you overextend yourself buying 1st IP - Importance of Buffer

    Good to hear you made your goal of having a good buffer - the buffer is what the roof bill is all about. Big bills like that can wreck all your plans if you don't have that buffer. So in the next year will you save for IP #3? Did you end up looking at sorting out the xcoll and getting a...
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