Cheers, thanks Richard for the tip. In your opinion is refinancing on the remaining loan amount $169K as a 25 year interest only a better idea to free up cash flow? That was what my intention was. As opposed to just making my current mortgage of $204K an interest only loan?

I’d always assumed that paying down all debt was better. I was checking out the Chan-Naylor website, I think i may have to see them for the right advice.

Anyone here used their services?

The IP is purely in my name from before i met my wife. Haven’t refinanced yet, meeting with Mortgage broker next week to discuss. The original loan was for $202K(30 year loan), now i owe $169K and was thinking of refinancing (25 year loan) so my fortnightly repayments are less.

Any advice would be appreciated prior to meeting the broker!

I agree with having a plan, I don’t have one though. Where do you start? I say the usual, “I want money so I don’t have to work if i don’t want to”.

I’ve always thought about writing down a plan, but have no idea how to REALLY go about it, because I don’t know enough about how to get there.

Forgive my ignorance, but how come?

If i was to “move back in” to the investment property, does the taxman put time frames on how long you need to be there to avoid tax?

Probably good advice, the house will be chaotic for a while until we sort ourselves out.

I know there’s the asset protection reasons, tax reasons (which I’m still trying to understand!). I did hear the the Federal Government will be introducing tax laws that will target trusts now.

Another lesson learned. Thanks

I’ll be doing that. If anyone has a decent accountant that excels with property stuff please let me know.

I had some email correspondence with a mortgage broker. Not the news i was after, although i take it with a grain of salt, Based on a brief questionnaire online I was told he doesn’t think it’s possible to buy an investment property. However……what wasn’t discussed was loan options, changing my current loan to interest only etc etc. I’ve…[Read more]

Income around 75K, looking at rural investment properties in Victoria. Seem fairly good investments from what I’ve found so far. Many good houses for around the $200K mark which is what sparked my interest in the equity question.

Many thanks for the reply. I’m not financially minded at all ! I used Mortgage choice to help with my first mortgage, I’m not sure how specialised they in arranging finances effectively to minimise risk. Would more of a freelance mortgage broker be a better option?