Yay! I finally made a decision last night when talking to an advisor/friend of mine. (older & wiser)

I will sell the margin lending portfolio. I have set this in motion TODAY.
Then I will temporarily Park some of the cash in IP 2 (under performing one), spend small amount (under 3K) getting ready for market and sell it once the 12months+1day…[Read more]

thanks Kay. Some people I talk to basically say that selling a property is equivalent to abusing kittens and so forth.

We have chosen for my wife not to work at a paid job, we have an 18 month old child. She used to work in childcare and we decided not put our own child in.

She is starting up an AVON business again. I have considered taking…[Read more]

Thanks for all the replies people!

Here’s the breakdown of the numbers:

PPOR – worth 279K
Mortgage 118K
Repayments per month 1026.67 (P&I)
*** Note – we have sold this and bought a bigger house for family reasons.
New PPOR from Oct – 298K
New Mortgage ~150K
New repayments 1305.09 per month

Margin Lending/share portfolio
Curr value: 43K
Curr…[Read more]

Wow Slumlord – that’s an interesting way to do things. Wouldn’t that reduce your serviceability however? More loan with same income?
Does it actually work for you?

I would imagine that would make it even HARDER to purchase property in the future.

I only ask because this is in effect what I did. I borrowed extra against a (nearly) neutral…[Read more]

By the way does anyone know of a Brisbane Solicitor that thoroughly knows and deals with Wraps / Lease Options?

Similar for Financiers/

Thanks l_au.

Didn’t your mum ever tell you ‘don’t deal with the devil?’ [biggrin]

I have booked out the money secrets of the rich book from the library. I should get it soon.

Like I said, I am pretty short on Cash at the moment.

Thanks Desk Top; I’d love to do the renovation if I could find the time, or I had money.
Currently I don’t have either available to me. I would have to borrow the money, and after a long hard think (enforced due to 3 days bed rest) I have come to the conclusion that I might just be in the poo.

Marissa – why did I borrow the extra?
Naivety – to…[Read more]

The Brisbane Investors Group meets every month at Salisbury State High School Library on a Tuesday Night
The next one is 31st August at 7pm. Cheers alwayscurious

Thanks loanarranger.
Here’s the breakdown of 2BR unit.

Annual
Loan repayments: 5676 (P&I at intro rate)
Water : 100
Rates 1300
Maintenance : 500
Body Corp : 1000
Insurance : 200 (contents only, unit.)
Let fee 148.5 (1 week + gst)

Total costs 8924.5

Income 50 wks@135 – 8.3% mgment…[Read more]