"The Week That Was: 12-18/1, 2000"

From: Mike .

Hi Folks,

We're on a bit of a rollercoaster ride this week plunging to 4 threads and a measly 9 posts. Worse than that, Les didn't post at all! Was he quarantined with the contagious Forum Flu, or was he flying Forum Airlines to a Getaway destination for some much needed R&R after 5 months of solid posting? Looking forward and Les appears again on the 25/1/00, a fortnight absent from the forum. Unbelievable!

Topics Included: PPR, DHA, Insurance (no reply), Buying in Melbourne.

Quotable Quotes:

Well, as you would expect, the QQ's dried up this week in Les' absence. Even Gee Cee couldn't save the day with some flashy phrase. The most exciting thing that happened was Sue announcing her name change to Sue1.

From Sue: "Hi everyone, Seeing as there's two Sue's now on the forum (and there could be more on the way ;), I, the original Sue will now transform myself to Sue1. How's that for originality! Cheers Sue"

Me: So to pad out this post, perhaps we can ponder if Darren's market analysis of Melbourne was correct. Bear in mind that someone was asking if they should invest in Fitzroy St, St Kilda. Would you be happy today if you had taken his advice? This is what Darren had to say:

From Darren: "I have several investment properties in Melbourne and I would say that although StKilda is an ok place to invest, the property market in Melbourne is close to its peak, with any future growth in the next few years to be modest. StKilda has skyrocketed in recent years and you would be paying top dollar.

I would be looking at Brisbane for better buying opportunities."

Me again: Was Darren looking through a clear or fuzzy crystal ball? You be the judge.

Classic Post:

It's quite ironic that a few posts last week could have captured the award this week. Just bad timing, I guess. This week, to mark her name change, I'll give the gong to Sue1 (formerly Sue). Here's Lisa's question:

"My partner and I are currently renting, but have enough equity in an IP to purchase a property for us to live in, "renovate and hold", and hopefully build up enough equity in it, to then purchase the next one, and so on.

My query is, if we refinance, and pull $30,000 out of our IP, because it is being used as a deposit for an owner occupied home (even if we are only planning to live in it for six months), is the interest on the increased loan tax deductible, or is my accountant going to want to separate the two amounts, because the $30,000 is not being used for investment purposes (even though to our way of thinking it is)?

I hope I didn't make that too confusing!! Thanks"

Me again: I just noticed as I'm posting this that Michael Croft has joined the 100 Post Club. Congrats, Michael. Looking forward to the next 100 posts. It looks like GoAnna won't be far behind you.
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