thanks for every ones feed back since the last time i posted i have signed a contract on a property (my very 1st one ) with a $500.00 deposit.
the vendor is fine with it and has also signed so now on with the gritty stuff.

Aimee

i ask because my cash savings have been some what stretched due to a family emergency and i no longer have the $1000.00 deposit
i still have money for the convayencing and raports tho.

i guess im not real sure what i should do from here on?
any advice or friendly tips would be appreciated

thanks

yeah i was scratching my head there for a while too lol

Hi Tracy

do all her books come with the software or just the one you got .  'which one did you get out of curiosity and are her books good?

theres 3 good ones there i like but not sure which to start with.

lol i can only read one a t a time (buggar) 

thanks for that

not with tax deductions as i'd prefer a return at the end of year to reinvest. (so i dont spend it on stuff)

do i still need to include the tax deductions?
whats the usal tax % i can use to work this out?

thanks i will

QLD007 you said
Clearly the preferred way to go forward is a simple interest only loan on your PPOR with a 100% offset Account.

If the property will be negatively geared then ensure that the PPOR is held as though you were buying a IP from the start.

If you want to hold the property as Tenants in Common with an apportionment of the shares then ensure the Transfer document is adjusted accordingly.

If you adjust the ownership details down the track then this could trigger both a stamp duty and CGT liability.

please expand on what you mean by tenants in common bit? and the transfer docs?

if i buy under the term that it be my PPOR and move out after 12months i have to change something to become tenant occupied so that i claim it on tax as an IP? and i pay more stamp duty??????
i'll be paying stamp duty upfront for this property wont i?

we intend to find a property as close to being cashflow positive as possible but i have a feeling i may have to learn how to make it postive in one of steves books he pions out to pay principle and interest on the loan but im confused as which road to go down as i know the benifits to both sides. by paying of the princible i can slowly (omong other things) make the property positive but if i only pay interest then i have that money freed up so that i can use on other investments. 

i want some where to put investment saving purley for the only purpose of reinvesting it and have no problems only using it for that purpose os an off set account would be viable in my position?

i added the 5% closing costs on the loan and did the sum again on scrap paper.

i'll keep pracitising.

also if you opt to have a tax return at the end of the year i shouldnt put it in the calculations should i as the cash  flow per week would be out slighty?

or do you just add this in on general to get a quick i dea of the return?
and then the 5% capital growth estimate

is it safe to say that a property close to the CBD or in radias of schools and shopping centre that it would go up in cap growth by 5% anually?

Aimee

this is going to sound really dumb to some people but i dont even know what closing costs are? is this something your charged on a loan by the bank?

to be honest i dont really get were all this info fits in?

i understand cash recieved is
rental $15,150

cash paid:
is this were the 5% closing cost comes in along with the 8.5% interest payment?

cash down:
$40,000 deposit

were does the deprecitation and other cash costs fit? and the agents 7%?
were do i put these?
i've never had  a home loan before so i have never heard of most of these and i dont want to take a lucky guess as to where they should be and what they mean.

thanks
Aimee