quote:

quote:
Also do you know the trick about the 55 day inteterest free credit cards and having it lincked to a LOC account?

What trick is that?

I think he is talking about having your mortgage account set up as a line of credit account. which means that you deposit all of your income into this account and then use a credit card (hopefully…[Read more]

Hi sunshine.
We’ve been thru this when we purchased a share in a property that my parents owned. We had to get a valuation and that is what we had to pay the stampduty on. We have explained this to the young-uns
Debra[]

Thanks Bill
Had already thought of that. His aunt is a solicitor so I have told them that we need to get something drawn up to finalise details like what happens if they don’t take up lease-option(have decided that this might be the go) ie redistribution of money etc and also splitting of property if something does happen.

They would be paying…[Read more]

Thanks Mel

good idea them paying our interest free loan. It would cost them a bit more than just rent and we could probably put a cap on the final purchase price this way.
His personal loan is actually against his IP(2nd mortgage). She needed a car, which he paid for and he HAD to have a quad bike (boys and their toys) But they are paying this…[Read more]

Thanks Mel

He already has an IP. And any extra they get goes on the Personal loan
And yes we had already thought of them renting it Current rental is $190/wk(very cheap) to their friends (the ones moving out)
Would just like to help them with out it costing us toooooo much of a loss. The only way I can see it at the moment is that they buy for…[Read more]

Simon
At the moment
No deposit.
Unsure of what her earnings will be.
This came up at a bad time we were hoping for a few more months with the tenants.
Am realy trying to see if there was any way we could arrange something now may be lease option with the chance they could purchase later once finances are more settled.
He claimed FHOG on IP(lived…[Read more]

Simon

She only works casual with the prospect of some steady full time work for at least three months ? leading to full time employment (has just completed diploma in child care)
He earns $600 net /wk. IP nearly pays for itself small contribution needed (but hey it made him $63000 at least in 18mths not bad for $130000 loan)Property now worht…[Read more]

We have gone up to QLD the past two years Once we flew only to Brisbane claimed airfares, meals and accomodation, car hire petrol etc parking fees at airprt and milage to and from airport.(100ks eachway for us). Drove once to Noosa s[pent a day coming back to Brisbane for inspection, Accountant claimed most of our total milage and meals and…[Read more]

Hope you,ve got a Quantity Surveyors report and are depreciating items in that IP you own now.
Steve also says that negitive gearing is OK whan there is the likelyhood of high capital gains. So, yes one looses and the other makes money but the one that looses increases in value. At the moment we have several properties, some of which are rapidly…[Read more]

its called the Quick Rental Yield Calculator and i downloadedit a while ago and now I cant work out where from. Maybe ask Steve etc and they can point you to the right place

Know the feeling. We,ve just found two properties that aren’t quite cashflow positive but the rental demand in the town is not being meet and so we feel that the rental returns will increase. None of the seaside towns will get good returns anymore. We had to look 5-6hrs inland from Sydney. Even Mudgee was on a comparison to Souther Wollongong with…[Read more]

I would love to receive a copy
Thanks
Debra []
[email protected]

Thanks Dino

I actually looked at the basic spreadsheet again and worked out that I only needed to relate to the cells with the interest rate and the amount borrowed.

Thanks Debra []

Mr InvestIT

ANZ have a package that used to be called a premier package. You pay about $300/yr and receive a gold credit card(fee free) up to at least 5 loans fee free. ANZ One account fee free as well as a percentage off a variable home loan (.5% I think) As well as other benefits.

Debra[]