Happy New Year to everyone!

So does anyone have any new years resolutions?

My aim is to buy 1 IP by the end of 2007! That will be a great deal to me because I am only 22yrs old and 2006 was my first year out if university studies!

Goodluck everyone!

Hi guys,

Thanks for all your replies. They have been very helpful. However, reading the last response from Richard prompted another question: Other than the purposes of keeping your money more readily available with an IO loan if I have an IP that is on a P&I loan is the interest fully tax deductable?

I ask because the last response by Richard…[Read more]

Hi,

Just a quick question about mortage insurance: How is the amount of mortgage insurance you pay worked? i.e. Will is be less if you are borrowing 90% as opposed to say 85%?[suave2]

Cheers
Paul

Hi mate,

Congratulations on starting to save money. I too am saving as much money as possible. At the moment I am earning ~$1200 per fortnight and saving ~$700 per fortnight, which isn’t bad considering i’m not living at home either. Although over Christmas I will probably not save anything because of presents and rewarding myself for a good year…[Read more]

Thanks Mate,

The couple I was talking about one works as a nurse (like you said) and the other is a police officer. I know the wife that works as a nurse gets the salary packaging which would confirm your thoughts.

Cheers
Paul[suave2]

Hi,

I don’t agree with what Kev said about selling and buying another property to renovate. It is simply not wirth the hassle with a child in the house. Also, as Kum Yin suggested capital gains less than 25% is not worth it because you won’t make enough money after you take out all your costs to make it worthwhile.

However, one suggestion that…[Read more]

Hi guys,

Everyone recently has been talking about interest only loans for property… If I was adopting a “buy and hold” strategy what is the advantage of buying a property with an interest only loan and that is still negatively geared?

I ask because if the property is negatively geared (which it most likely will be) than you are totally relying…[Read more]

hey mate,

thats a great story!

How can you afford to 5 IPs, be 22 years old and earn 35k pa??
Are the properties in regional towns and are they cashflow positive?

Do you have a problem servicing the loans and how do you go about getting approval from the bank/lender to borrow more money?

Cheers

Paul[suave2]

Hi Wylie,

Without looking at the property it is impossible to know why the price is so much less then other properties in the area. Their may be some problems with the house such as structurally, termites, plumbing etc..

Alternatively, the vendor is in a hurry to sell the property before Christmas and has just dropped the price. Maybe the figure…[Read more]

Hi,

Just a quick question:

With a residential IP what is the tenant expected to pay?

i.e. Electricity, water, gas, land/council rates etc..

Thanks
Paul[suave2]

Hi Marc,

Just a quick question:

When you allow 20% of rent for outgoings does this include everything – i.e. property management, land rates, electricity, water etc. that have to be paid.

Also, in a residential IP does the tenant pay electricity and/or water rates?

Cheers
Paul[suave2]

Hi,

Think of Today Tonight and those type of programs as “reactive” as opposed to “proactive”. They only broadcast information that has already happened. Otherwise everybody who watches the program could just get rich by doing whatever the little person on the tv screen says and we all know that simply is not the case…

The way to become…[Read more]

Hey,

You could have sheep AND alpaca’s. Alpaca’s are often put in with flocks of sheep because they keep the foxes away. I have a couple of Alpaca’s at home – $1500 for a female it cost me!

Anyway, good luck with the challenge! Any ideas what your next trade will be? What happens if you can’t sell that ticket before the seminar is on – then you…[Read more]

Hi Julie,

That sounds interesting. Were their any particular requirements that had to met before they would approve your purchase? i.e They would only lend 80% of property value or had to have equity in another property?

Where was the property? EU? What the stamp duty, morgage fees etc. similar to Australia

Thanks

Paul [suave2]

Hi mkc,

The property sounds very intriguing. Can you provide a bit more
detail about the property?

Like how old are each of the houses? What suburb/town is it located? These are all things we’d need to know before investing $240 in a property…

It just seems a bit vague and dodgy to me…

Hi guys,

Interesting topic. Just out of interest, is it possible to salary sacrifice my HECS debt? That would be very handy. Also, how come some companies allow you to salary sacrifice everything (inc. home loans) but other companies do not. This seems highly unfair, for example the private company that I work for only allows salary sacrificing…[Read more]

Cabo Wabo
Established Forum Contributor [178 posts]
Posted 27/10/2006, 16:14:16

i reckon 15% under is a pretty good spot to come in at. Don’t tell the agent what you are gonna offer. Go out to the car, sit and write an offer, go back in, give it to the agent along with ur card if u have one, and leave.

Give em the impression u know what u are…[Read more]

Hi guys,

I was not aware about the stamp duty exemption on a first home. Can someone please tell me how much this stamp duty exemption is? And for which states it applies to?

Thanks
Paul[suave2]

Hi Foundation,

That was a very interesting response that you wrote, however I also had to read it a couple of times to make sense of everything it says. Especially because my background is structural engineering and not economics.

Are there any websites or books you could recommend reading to get a better understanding of how australia’s…[Read more]

Hi guys,

Just a quick one…. Someone mentioned concession on stamp duty for first home owners?? Is this true, is their any states that give a discount on stamp duty as well as the FHOG to first time buyers???

Thanks
Paul[suave2]