Interestingly…..I’ve take that advice to heart :)

Still not official yet but I’m a 1% foundational shareholder of an offshore bank to do exactly that….!!

The irony that comes from St George knocking back expats working overseas on their portfolio loans might actually cost them more than they think…..

Keep in mind Mike that releasing equity on UK property might actually count against you !!

eg my wife recently got knocked back on a loan with CBA through a broker here on the site because CBA used the APRA serviceability on our PPOR here in NY (the property is worth about $US2.2m), the current mortgage on this PPOR is around $US975,000 which if…[Read more]

Keep in mind Mike that releasing equity on UK property might actually count against you !!

eg my wife recently got knocked back on a loan with CBA through a broker here on the site because CBA used the APRA serviceability on our PPOR here in NY (the property is worth about $US2.2m), the current mortgage on this PPOR is around $US975,000 which if…[Read more]

probably down as will be oversized….you should offer to sell your block.

This said, depends a lot on design etc. At least it will most likely be nice an quiet and no one will complain about your tenants listening to the TV too loud :)

How long were the leases?

Should have just sucked up the short term loss and then given the tenants notice to quit once they came up for renewal.

Make sure you include the leases in the sales contract eg so they cant be extended.

How do you know an agent is lying…..their lips are moving.

Of course you can force an agent to show you whats there.

Hold…..its costing you less than $3k a year for 8 years (you say $3k like last year was an anomaly)……whats not to love?

even if it cost you $3k every year for something that you put no money down on you doubled your money at $45k for less than $28k.

interesting question…..so is a special levy deductible if the property is rented at the time of payment or when youa re first made aware of it.

(btw a third option you didn’t take into account is rent out both properties and go and rent somewhere else……
I guess a 4th option is…….rent out both properties and go and buy a new PPOR, but if…[Read more]

@Corey, I agree on a 2 year fixed….but on a 5 year fixed…..sounds like cheap insurance to me. Basically allows an investor to sleep soundly at night for at least the next 4 years and then consider selling when the fixed term period runs out in 5 years from now rather than being in a situation where you are at the whim of the banks who can…[Read more]

@Colin, there would be no way we’d sell any of our investment properties within 5 years (forget the break mortgage costs….the stampduty/sales costs would be a killer for people to make such rash mistakes)

We have other “back up funds” that we have access to should there be temporary issue come up and even if a permanent loss of income should…[Read more]

@Colin, there would be no way we’d sell any of our investment properties within 5 years (forget the break mortgage costs….the stampduty/sales costs would be a killer for people to make such rash mistakes)

We have other “back up funds” that we have access to should there be temporary issue come up and even if a permanent loss of income should…[Read more]

lol at CBA announcing 0.13% discount within minutes and NAB announced shortly there after around the same.

Looks like the govt gave a wink and a nod to the banks that this 0.25% didn’t need to be passed on in full.

…..tell me the game isn’t rigged.

why would you need a trust? if you are an Australian citizen you can buy property in your own name.

…and yes I’ve purchased property sight unseen (well photos and video walkthrough but never visited in person).

I’m also interested in this…. (and curious why this site doesn’t get used for this more often), eg can you post in the comment below some of your renovations with before and after shots and the name of your builder.