Dave@PI replied to the topic BUYING A PROPERTY WITH A PARTNER in the forum Help Needed! 10 years, 9 months ago
Thanks for the advice guys. I think we will get a joint loan with a contract. Which ever way it is structured , if one defaults the other has to take over, so the JV mortgage seems to be the easiest way!
Dave@PI replied to the topic BUYING A PROPERTY WITH A PARTNER in the forum Help Needed! 10 years, 9 months ago
Thanks DK!
Which do you think would be the best loan structure?
Dave@PI replied to the topic Legislation changes for rental properties in the forum THE CHANGES 11 years, 3 months ago
THE CHANGES
Under the new laws:
Residential tenancy agreements will be standardised with the option to add any specific clauses to the agreement as long as they don't counteract those in the act.
Property condition reports must be completed at the start and end of a tenancy.
Security bonds must be lodged with the Department of Commerce's Bond…[Read more]
Dave@PI replied to the topic Legislation changes for rental properties in the forum Thanks Jamie, 11 years, 3 months ago
Thanks Jamie,
I am in WA. It just seems like alot of effort to send back an already signed lease for a new formatted version.
cheers
Dave
Dave@PI replied to the topic Changes to Tenancy Agreement WA in the forum Legal & Accounting 12 years, 1 month ago
Ok great Thanks Derek!
Dave@PI replied to the topic Refinancing an IP in the forum Finance 12 years, 2 months ago
Sorry guys, I may have told a little porkie!
My rate is 6.08 not 6.68 whoops… So pretty reasonable I guess.
Yes both my loans are IP's now with offsets and I rent where I live.
So if I refinance my loan on a longer term to bring the interest down, will it make it more difficult to access the equity later on down the track? Is there fees for…[Read more]
Dave@PI replied to the topic Refinancing an IP in the forum Finance 12 years, 2 months ago
Jamie, is sub 6 with offsets? I had a bit of a look around and anything that low didn't seem to have 100% offset. Come to think about it, I'm not really sure if I am 100 %
Cheers
Dave
Dave@PI replied to the topic Refinancing an IP in the forum Finance 12 years, 2 months ago
Hi Shahin, I'm in debt about $700 k , approx value $1m +.
Terry I didn't want to refinance to use the equity, I wanted to refinance at the same principle but over a longer period? I don't know where I heard this or if it even works?
Eg I borrowed $300 k to be paid back over 25 years. If I refinance my loan now of $240 k over 25 years, my…[Read more]
Dave@PI replied to the topic Suggestions/ advice needed for IP in Perth. in the forum Help Needed! 12 years, 2 months ago
Hi Pat,
I'm also from Perth. I have a couple of IP's now and I have found so far the most effective way is have and I/O loan with an offset account. I have an offset on both of my loans which doesn't cost any extra. I have my credit card set up with an autopay and live of this. This way the 30 days interest free you have on your credit card ,…[Read more]