A crystal ball is what i need..

Thanks.

Yeah it close to city but with the huge amount of apartments being built there will be an oversupply for the next few years right?

The apartment is a well known complex for people who know the valley.

I dont know what info to give.

I had 30k in 2010 and i thought buying an apartment would be a good idea. Its a great location.

I would have been…[Read more]

Last tax return it went as a loss, (just) this year may be different. I think I have paid a bit more interest than 95K actually. I have a large chunk in an offset. But this will soon be going towards buying our PPOR

I don’t know if I would be happy holding it. I get all different pieces of advice and it just puts me in a spin.

How long will this…[Read more]

I bought the property at the tail end of a property boom in the area, also the house was in an older area as at the time, just around the corner a brand new estate was being established.

This older area has a slower CG than the newer area

There is good infrastructure around, train station, buses, schools, sporting fields, shopping. Easy access…[Read more]

Your free advice is much appreciated. Thankyou

Ok great, thank you very much for that confirmation.
Another question please. 

My fiancé owns a 3rd of her current PPOR with her parents, she has a 150k mortgage with an offset of 138k. She now owes 116k on the loan. Her parents do not have a mortgage on this property. The deal is that when her parents pass she will inherit 100% of the property.…[Read more]

Any professionals able to look into my situation, i am willing to pay

thanks

I dont think it needs anything done to it,  and i dont know if investing another 15/20k on a granny flat will be worth it

The property is in Thornton NSW, 20 min drive to the coast of Newcastle, very neat smallish 3 bed brick home, carport, newish bathroom & kitchen on a 650 square block. You can walk to shops in 5 mins, walk to parks, fields etc. in 5 min, drive or ride a bike to train station in 5-10 mins. Bus stop is around the corner. Easy access to freeway. In…[Read more]

Thankyou xdrew for your detailed response. I dont know the answers to these questions

Hi Terry, Yes that is the plan, just setting up the accounts is all??????????????Craig

Terryw wrote:
Yes. But just make sure the bank won't class it as a missed repayment and default

Terrythe bank wont allow one account to offset each loan, an offset per loan still ok?thanks

Done, I have set up offsets, changed loans to interest only and ceased payments until suplus reduces, thanks for the info, I hope your rightCheers

Thanks Terry, when the offsets are open, what if I cease my payments till the surplus reduces? is that an option?

ok, so atm I am 20K in front each on both loans, so leave this as it is and just open an offset and put my other savings in that??any idea how much damage I have done?Thankyou so much for this info, I did not know.Craig

thanks all, I will open an offset account, and redraw the extra money in both loans back to the offset

Jamie M wrote:
Hi Craig Welcome aboard. Do you have any non-deductable debt such as personal loans, credit cards, store cards, ect? If so, it's best to knock this debt on the head first. Generally speaking, it's ideal to have tax deductible IP debt set up as interest only. You only need to have one offset set up against either of the loans -…[Read more]