Thanks everyone for the input.

I decided to rent and whipped down to sydney from far north coast NSW, i renovated or fixed everything in 7 days and had it re-let for $50pw more before I left.

It is now on a 5% yield. i bought 9 years ago so showing 9.3% on original debt.

I have taken a new Line Of Credit out with a new bank to use for deposits…[Read more]

Do you think it has something to do with fishing??

Hi tess85,
i bought my 1st house in Tempe before the 1998 boom and i have never regretted it. we rented it out (to continue living in Rose Bay) for 1st year then moved in for 4 years renovated it and then moved to Woronora River at Sutherland. we are now in Byron and still own both houses (Woronora for sale)

We enjoyed our time there you do…[Read more]

Hi JaneS,   Thanks it is sounding like it is worth the effort!cheers

Hi JaneS,i have spoken to ANZ financial section, they say they do not influence the Valuer in any way, but that is not what i am hearing, you obviously believe otherwise.Also what price property are you basing the 30 to 50k amounts on eg: a percentage of how much more you believe can be achieved this way?cheers

Looks like you have had all the good advice, heres my story-I have a tenant who was similar although i have never had to meet her, thank god, i have a PM.Anyway she complained so bitterly and constantly that my PM suggested i give her notice (PM was fed up, its the first I had heard). I agreed with her and we did, the  next thing i hear is that t…[Read more]

Thanks JaneS,  i will try speaking to another branch, your methods seem sound, it is what i am trying to implement.Do you believe you get a higher valuation this way?cheers  

good advice thank you bothcheers

thanks matt007, you are right i’ll get off that one and look for a solution, i know i am lucky to have such a  problem.it is what i predicted 3 years ago its just i am more involved-i had never planned to live in it!  cheers

ScottNoMates there is a moratorium on new builds in the town because of inadequate sewerage, new sewerage plant late 2010.The land opposite where woolies is going is State Rail, and the train service was cancelled 4-5yrs ago.i bought the rental because it had high return (house divided into 2 b/r flat and 2 b/r hse with sunroom) 6.5% and on a…[Read more]

thanks for your responses all, My main concern is falling values of houses opposite or adjacent like my rental property.The local Jenman Real Estate agent is touting we will all lose 10-20% value being so close.Does anybody agree???As an investor, i believe it is a growth stimulator for the town.Hoping i dont have to take a step backwards first…[Read more]

thank you all for responding! TerryW – i  believe pay down means parking the cash in the ANZ (now) investment loan. i dont want to leave it there as it is now an IP hence my looking for a way to offset the StG loans and decrease non tax deductible debt. i will look into an IO loan.i will also look into the Pro Pack Qlds007 the loans are all i…[Read more]

thankyou stuart, any information is useful

cheerz[biggrin]

hi nevilleg,
all i know from conversation with a rep:
1. he owns NO property
2. they are paid by vendor
3. hard to get any concrete info/offers to ‘face to face’

personally i dont think i will be using them[biggrin]

1. stuck! have 200k borrowed funds to invest and i am wasting it! NEED DIRECTION.
2. TOO MANY CHOICES analysis paralisis
3.consolidate or extend further? Market?[blush2]

just saw your post, good one.
it is hard to do on smallish incomes but thankfully very possible.
love hearing stuff like that

cheerz[biggrin]

thanx all,
i hoped it was possible and thankyou for sharing yo experience.

now i have to work out DSRs and see if this can be achieved with our incomes (both self employed)
we will need a cluey accountant, Nicholas Moustacas has been mentioned – all those in favour?
will need a good solicitor is Chris Batten the man?

does anyone recommend…[Read more]

thankyou everyone,
much clearer on a direction now,

property investing aware solicitor, accountant,
any reccomendations in southern suburbs sydney

so many questions

glad to be here

[blink]

wouldnt be dead for quids

Thanx APerry, Qlds007 and Wylie,

that makes sense, we dont have a trust set up but i have been planning to do that maybe now is the tiime.

i would imagine that selling the property (with most equity) to the trust would incur SD and probably CGT (wned mor than 1yr). i am ok with that if the numbers stack up.

the other thing is, that property…[Read more]

thankyou shwing and dazzling it sound like you are both right i love that.

dazzling – not my name only, we are both self employed, and joint owners. does that bugger it up?

NTDD – ?

in debt and loving it

[biggrin]