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June 20, 2009 - 3:12 am

Ok, he gets it now and that hurdle is over.  Now for the next one!

June 16, 2009 - 1:01 am

For me, this is the most confusing part about entering the IP game, for the moment.  I would like to learn more about this.  What should I read?

June 15, 2009 - 10:24 am

That's why I am here looking for advice and clarity.

June 15, 2009 - 3:12 am

The budget is about $250k depending on what we find. 

June 15, 2009 - 2:55 am

Ok, my partner called the bank to talk about seperating the loans.  They said we would need to borrow $50k from our PPOR equity for the deposit for a seperate loan.  They said then we would only be able to tax offset $200k of the IP, not the full $250k of the house.  Is this the standard situation?

June 14, 2009 - 4:59 am

Wow, where do you find houses like that?

June 12, 2009 - 4:18 am

I did up our bathroom on a quarter of a shoe string. I painted the walls with mould resistent paint and put cheap bunnings lino over the 50's tiles.  I am surprised at how well it came up.  Definately easier to live in now.  The lino cost about $20 and the paint was free.  A vanity can be bought at auction for about $100.
This is my makeover while I wait for reno funds.

June 11, 2009 - 11:11 pm

We don't have a broker. The loan has been pre-approved from the bank using the equity from our home. 

Could you please explain this to me as I am a total dummy when it comes to this part. 

" Bank dont cross collateralise the securities otherwise they may just lend against your current e"quity and you be unaware that the valuation came in less than the purchase price. (Usually mostlenders allow a 5% variance)."

My husband called the bank and arranged all this and I have trouble understanding it all.  I would like it all to be set up right before we take the plunge.

I  have been trying to learn so much but a lot of it just goes over my head.  I get my husband to try and clarify it for me.  There is so much to think about I think my head is going to explode.