Thanks Redwing,

Very busy these days reading, (bought Neil Jenman’s “Don’t Sign Anything” today) and learning from others! Soon I’ll get to put it all into action!!

Cheers
Bron

Chan$,

I guess you have to buy an IP before you can sell it!! (First one coming up soon!) We’re on Macs which both complicates things and make them easier at the same time. If I could afford a waterproof Mac it would probably pay the deposit on 2 IP’S!

Also, if I smile nicely, will you buy me a spa too? Just a small one would do!!

Bear,

Sad and hot story! I sympathize! Did you REALLY need to stay in the caravan? Makes a good story later on I guess! I hope you found an IP or 2 for all that effort! BTW, are all those kids yours?

Pisces,

Where can I get me some o’ them shoes?

For anyone else out there who’s feeling the heat, a friend gave me some good advice for the bathtub today….icecubes!!

Cheer All!
Bron

BTW I’d still like to hear from anyone else’s experiences!

Bron

Thanks Leigh K! Thanks SIS!

I think being cautious about an accountant sounds like good advice. SIS you mentioned a good accountant up our way in a past post, who we plan to visit in the next couple of weeks along with some others. Is it usual to “interview” accountants?

How do you do due diligence when sometimes you’re not quite sure of the questions to ask?

A leaning to +ve cashflow properties?
An understanding of the most suitable type of trust?

My experience with accountants in the past has involved me suggesting options to them rather than the other way round.

What about solicitors. Do you “interview” them too?

Cheers
Bron

Hi Warren,

Thanks for your reply.

Before we go too far there’s a couple of things I need to clarify…..

Firstly, the “Steve” I am referring to is Steve McKnight!! His advice is not to use more than 40% equity in your PPOR.

Secondly, there is a typo in one of my posts (and some dodgy maths as I was racing out the door yesterday)

Sorry for the confusion. But to cut to the chase…

We would have a total of 280k cash with no debt if we sold our PPOR. If we kept our PPOR, 100k cash and 72k available in equity (Going by Steve McKnight’s 40% suggestion) and a debt of 120k. So a difference of 108k or so.

I guess my question is – Surely it’s worth selling to access the extra 108k?

Do any of the more long term investors here use 90% equity in their PPOR? Is this common?

Thanks
Bron

Thanks for your reply Simon,

Our line of thinking was that we could utilise the 280k to finance more IP’s inaddition to the 100k, thereby accelerating the whole process.Rather than just using the 40% equity ie 120k.

Cheers
Bron