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  • Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    February 5, 2012 - 10:53 am

    I’d still keep the title in my name only. Just trying to get the property positively geared by smaller mortgage payments.

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    February 5, 2012 - 7:52 am

    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?

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    February 4, 2012 - 4:02 am

    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?

    Profile photo of boogebooge
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    @booge
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    February 3, 2012 - 9:41 am

    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!

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    February 3, 2012 - 9:25 am

    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.

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    February 3, 2012 - 9:20 am

    Forgive my ignorance, but how come?

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
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    January 9, 2012 - 3:19 am

    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?

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    January 2, 2012 - 3:28 am

    So based on the amounts in the scenario above re equity amount and IP price, what would the loan amount be on the $200K property?

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    December 31, 2011 - 10:00 am

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

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
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    December 28, 2011 - 8:03 pm

    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.

    Profile photo of boogebooge
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    @booge
    Join Date: 2011
    Post Count: 48
    December 20, 2011 - 10:12 pm

    Another lesson learned. Thanks

    Profile photo of boogebooge
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    @booge
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    December 20, 2011 - 8:41 am

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

    Profile photo of boogebooge
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    @booge
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    December 20, 2011 - 7:47 am

    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 seen another topic on here about good property accountants so i may get in contact with them for a more detailed analysis of my situation.

    I just need to know where i stand so i can either move forward or put it off for a while.

    Profile photo of boogebooge
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    @booge
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    December 17, 2011 - 11:41 pm

    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.

    Profile photo of boogebooge
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    @booge
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    December 17, 2011 - 12:24 am

    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?

Viewing 15 posts - 21 through 35 (of 35 total)
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