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Viewing 15 posts - 1 through 15 (of 15 total)
  • Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    November 23, 2014 - 10:33 pm

    Hi Benny

    Thanks for your feedback!

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    November 21, 2014 - 10:51 pm

    Hi Benny and Terry

    My goal is to buy a PPOR and aim at a strategy I can have all my saving in PPOR and all IPs at 100% loan for max tax deductibility.

    I think the method Terry outlined is very powerful and it is even more powerful when combined with debt recycling.

    Thanks a lot

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    November 21, 2014 - 1:26 am

    Thanks Terry. But now I am lost how is it possible to refinance loan into loan 1?

    Profile photo of aqueaque
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    @aque
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    November 21, 2014 - 12:30 am

    For the first 2 seconds I thought your reply was a joke. But then I realised this is a brilliant idea!

    Thanks Terry!

    Profile photo of aqueaque
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    @aque
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    November 20, 2014 - 8:20 pm

    I thought borrowing 104% is not possible. Or it is possible if I use 20% use a security for the loan without triggering LMI?

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    November 20, 2014 - 6:32 pm

    Thanks guys. I have corrected. I am wondering if there are better ways than debt recycling to overcome this issue?

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    July 14, 2012 - 10:40 am
    waydo77 wrote:
    5.2% yield after body corp is taken away from rent, sounds pretty ordinary for a unit, depends where it is i suppose

    Its loction is very good. There are 10 units in the complex. Maybe I shall have the hope with persuade other owners to get cheaper body corp?

    @6% interest rate, 25 per week can cover a 22k loan. I am just a little concerned about the resell.

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    July 14, 2012 - 10:36 am
    RyanJD wrote:
    You need to compare the rentals in the complex and in the suburb to the unit your looking at. Will the rent be the same? Is the rental demand high or will it be vacant for a while?
    Most body corporate fees are tax deductable but I don't belive sink fund fees are from what I've read.

    Have you had someone looks at the strata paperwork incase the complex has any problems or it's in the negative figures etc.

    Thanks for the reply. The solicitor is going through the strata paper work. One of the units was advitised for a week at 420 and it was gone in less than two weeks.

    It is only mins away from a majoy shopping mall, 4km to CBD and major bus stops. All other units were sold around 390k in the recent years.

    The average body corp is 2000. I will be effetively paying 25 more per week. 25 is nohting to me but I don’t want this to scare off potential buyers.

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    September 2, 2010 - 3:23 am

    Glad to hear Homeside is the cheapest one! I am having a loan from Homeside!

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    August 27, 2010 - 3:14 am

    Do not use Topgun. Thats my advice

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
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    August 24, 2010 - 1:58 am

    Thanks Terryw

    Will remind myself searching the forum first before asking next time!  Cheers!

    Profile photo of aqueaque
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    @aque
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    August 13, 2010 - 5:54 am

    Hi Mr501

    Thank you for your kind help.

    I am wondering if you are an accountant and willing to take a new client? If so, could you PM me your details?

    Regards

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
    Post Count: 21
    August 13, 2010 - 3:54 am

    Thanks for your reply.

    If I get some improvement or repair work done now and ask tradies to have the invoice date after my PPOR becomes an IP, is it legal?

    Profile photo of aqueaque
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    @aque
    Join Date: 2010
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    August 11, 2010 - 11:35 pm

    HI Mr5o1

    Thanks for your reply.

    I guess it is better to do any improvements or maintenance after it becomes an IP.

    Q3. How do I notify ATO my PPOR becomes a rental? Can I still have all my mails sent to that address? I mean, it will be rental but it is still my PPOR so I do not get CGT. A little confused about evidences.

    I guess I really need to talk this to my accountant.

    Thank you for your time

    Profile photo of aqueaque
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    @aque
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    August 9, 2010 - 11:43 pm

    Hi Guys

    Thank you very much for your help.

    I assume stuff I bought years can still be depned if I employ a`quantity surveyor.  

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