As the owner of a Unit you should have access to the Body Corp records and the owners of each unit.You could then write to them directly or even go thru the Body Corp to get them to pass on the letters etc.

You would need to get a loan against your current home to get access to teh equity 30K. Then borrow $270k  for the rest.So in total your loans would be $300k.Don't forget about legals and stamp duty and other fees etc.So you will be going for  90% loan against the investment property $270k and the depost + fees from you equity.

From my understanding the quote the amount because of the fees to setup and run a SMSF.You need that amount to get a good return to cover them as there is a yearly audit needed and it costs about $1000+ per year.I would say that the investment would have to be netural to positively geared to be able to do this thru super fund.Seek out so advise…[Read more]

Campbelltown is no longer the outer suburbs of Sydney and the prices are more then a few years ago.I have not looked into it recently but Sydney over all is struggling along.

They changed the name to PAYG = Pay As You Go withholding tax.http://www.ato.gov.au/individuals/default.asp?menu=1129PAYG income tax withhoulding variation (ITWV) form for a employeehttp://www.ato.gov.au/individuals/content.asp?doc=/content/00096541.htm&page=3&H3=&pc=001/002/040&mnu=1132&mfp=001/002&st=&cy=1Here is the form for 2007-2008 tax…[Read more]

Jon Chown wrote:
Danish83,On the surface of things, this appears to be a reasonable deal.   At $135,000 per 80m2 2 bed unit, I am guessing that it must be in a outer or remote location or that there are problems with the Building.Showing a 6%gross return, I would want better than that.   The weekly short fall is going to be around $600 and I am…[Read more]

runinniv wrote:
What is a PPOR? – sorry, new at this.  My guess is own home? if so, we rent. 

PPOR = Principal Place of Residence. This is your own home.PPOR 500k (Sydney 1999) owe 180k1st IP 290k (Sydney 2002) owe 321k   (Bought in Sydney at height of boom)2nd IP 350k (Cairns 2006) owe 300kLVR 1140k owe 801k =  70%

You should not have to pay for the modem as this is normal a requirement to run the account.

It’s just like a telephone. You do not have to provide a phone for them so you do not have to provide the modem.

It is up to the renter to pay for this.

Chris

All post are IMHO.

Originally posted by arrowsmith:
I am renting. My partner & I have good incomes & no dependents and I am 30 years old.

We have a very good combined disposable income. We are just starting to build savings after a long trip overseas.

Our rent is cheap (1/7 of our income) but the place is very old and run down. At this stage the only incentive to…[Read more]

IO – Interest Only is that you are paying Interest Only and none of the Principle.

This is good if you have any non deductible debt as Terry said.

Paying IO will allow all your spare funds to pay off that debt first.

If you do not any non deductible debt then paying of with P&I will allow you to get equity and with growth you can borrow for…[Read more]

Yes even tho you cannot get anything for the building there are still stuff inside and out that can be depreciated.

Chris

All post are IMHO.

The % returns depends on the property value. Is this % from the begining or from the current value of the property?

Have you increased the rent in line with CPI?

Does the rent cover your payments?
Is the Property CF+?

If you are making money from it then why sell.

If you have equity and from your posts you do then use that to invest…[Read more]

I would suggest you get a couple of books and read about proptery investing.

This will then help you narrow down what type of property you want, your price range etc
Then you need to search for a place and find one which is suitable for you. This seems to be the hard bit in finding a CF+ property.

Chris

All post are IMHO.

I would pay off your PPOR as it is a non-deductable debit.
With most LOC even if you pay it off the account is still open and you can draw back on it for deposits and costs.

Chris

All post are IMHO.

Usually costs are about 5-10% of the property you are trying to buy.
Without equity you may need to save this up.

If your LVR (Loan to Value) ratio is more then 80% you usually have to have LMI (Lenders Mortgage Insurance). LMI is for the lender not you. This could add a few percent to the cost.

So your looking at about 110% of the cost of the…[Read more]

You may have to talk to one of the brokers on here.

Depending on income you may be able to find a loan for 100% + costs.

Chris

All post are IMHO.

I found this website with a quick http://www.goggle.com.au search

http://www.sydneycu.com.au/content/upload/files/sydney/calcs/budget.htm

Chris

All post are IMHO.

Basically John would not have to pay tax as income less deductions for investments gives him 0.

On $100k this year 2005-2006 you only pay $32050 tax.

Chris

All post are IMHO.

One thing is to check with your accountant but if the current LOC you have has any funds used for your PPOR or any non-tax deductable reason you may have an issue with claim the whole interest on the LOC.

See if you LOC can have multiple accounts and if that can happen you can either create account for the 20% + expenses deposit or for the 100% +…[Read more]

The problem is that I don’t think anyone can pick when the bottom will be.

It may be now or could be in 2 years.
It’s up to you when you buy.
As it is definitly not the top of the boom it should be fine to buy at any time so long as you can handle the payments if the market continues to go down.

From the prices out there I think in some places…[Read more]