Already Taken started the topic Hold or Sell in the forum Help Needed! 8 years, 3 months ago
Hi,
Looking for advice as my wife and I have differing opinions on path forward.
We purchased a 1 bedder in Henley Beach, SA in 2008 for $185k but borrowed $200k for purchase costs etc.
Conservative value today would be $230k.
Rents for $210 per week and last financial year our out of pocket was about $3,500 due mainly to a sinking fund and an…[Read more]
Already Taken replied to the topic The Next Step in the forum Help Needed! 9 years, 6 months ago
Any particular reason you don’t like North Lakes Richard?
Already Taken replied to the topic Pros and Cons of Cross-Collateralization in the forum Help Needed! 10 years, 7 months ago
There is also an article on this in the latest issue of API magazine.
Very few +ves….
Already Taken replied to the topic Stormwater Drain in the forum Help Needed! 10 years, 8 months ago
Thanks Benny and Jac.
Ended up using Sydney Water website and they redirect you to one of their agents. Registered on their website, entered property address and had the services plan within 2 minutes for $15.
Much easier than I anticipated which is always a nice surprise!!!
Already Taken replied to the topic SMSF in the forum Help Needed! 10 years, 8 months ago
Thanks for the feedback everyone.
Only 32 so in terms of retirement age I am a long way off but putting steps in place to make sure I can retire well before then!
Currently 1 IP and on the lookout for number 2 so I see the SMSF as an extension of that and completely agree with needing a diverse portfolio for maximum success.
SMSF balance would…[Read more]
Already Taken replied to the topic Options/Advice in the forum Help Needed! 11 years, 10 months ago
Thanks Shahin, we only keep the car loan as we get as much in deductions through claiming 80% for work use as we do on IP1 (as much as it pains me to have a car loan…)
Glad I came on the forum because as much research as I thought I had done I had not come across or paid much attention to an equity loan so cheers for that JacM.
Richard,…[Read more]
Already Taken replied to the topic Options/Advice in the forum Help Needed! 11 years, 10 months ago
Thanks Shahin, we only keep the car loan as we get as much in deductions through claiming 80% for work use as we do on IP1 (as much as it pains me to have a car loan…)
Glad I came on the forum because as much research as I thought I had done I had not come across or paid much attention to an equity loan so cheers for that JacM.
Richard,…[Read more]
Already Taken replied to the topic Options/Advice in the forum Help Needed! 11 years, 10 months ago
Thanks for the feedback so far.
PLC, I agree.
Jamie M, also agree but I guess the question was more centered around the amount I will be able to borrow with or without IP1 and whether or not I may be better off with 500k to spend on IP2 then 250k if I keep IP1. (speculative figures only).
JacM, will definitely have a look a bit further into…[Read more]
Already Taken replied to the topic Options/Advice in the forum Help Needed! 11 years, 10 months ago
Hi JacM,
The original loan on PPOR is $590k so not sure there is any need to refinance in order to unlock the equity?
As for IP1 when I said that it had been good to us as a first investment I was referring to the fact that it had been pretty much set and forget with only 1 week untenanted in the last 3 years and the property manager has been a…[Read more]