What do we do now?



From: Wayne Scholes

Hi All,

Our accountant has just informed us that we will be getting a substantial tax refund.

We will use this to to finish paying of our principal residence.

Just over 2 years ago we bought a 3 BR townhouse in a bayside suburb of Melbourne and by using I/O & an offset account with help from PIAFPU and Jan's books we have managed to reduce our repayment time down from 8 years.

But where do we go financially from here?

We would like to purchase a more modest unit or townhouse in Brisbane.

Our daughter lives there and has found one that she reckons is overpriced. Currently the agent is only accepting offers over 100K but she has recently bought a unit in the same block for 89K and the condition of this one is worse than hers. She suggests that we use the services of a buyers advocate to negotiate the price down, is this possible and how do we find a reliable advocate to act on our behalf.

Would it be better to use a "flipper", but again where do we find one?

Another option we are looking at is a negative geared positive cashflow property as suggested by Margaret Lomas in her book.

Maybe we should go to someone and get a financial report card before we commit again?

Does anyone know of a good adviser in Melbourne who can help us with this and would any fees incurred be tax deductible?

Has anyone dealt with "Destiny Financial Solutions" (Margaret Lomas' company)

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Reply: 1
From: Mark Laszczuk

I strongly suggest you get in contact with Steve Navra at: navrainvest.com.au. He's based in Canberra, but comes to Melbourne. I think he may have some very nice things to tell you.

'no hat, some cattle'
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