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Viewing 8 posts - 1 through 8 (of 8 total)
  • Profile photo of debbiemcdebbiemc
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    @debbiemc
    Join Date: 2011
    Post Count: 10
    June 19, 2011 - 11:22 am

    : ) thanks, ebaying now!

    Profile photo of debbiemcdebbiemc
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    @debbiemc
    Join Date: 2011
    Post Count: 10
    June 19, 2011 - 7:50 am

    Hi Anthony,

    Thank you very much. Spoke with mortgage broker this week. Found out more about the PAYG variation so will see an accountant also in the next couple of weeks. The rent I currently get is above rents for the area so am lucky with that but yes definately in the next 6 months need to review. And thank you for the recommendation of the book, I'll certainly put that on my shopping list. I'm feeling much more settled and in control again now, just took bad advice before and lost a lot of money in the process. All the info and help from here has put me back on track and less scared of the future.

    Thanks again,

    Debbie

    Profile photo of debbiemcdebbiemc
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    June 19, 2011 - 5:28 am

    Divorce property settlement for your information Goblin!!!!

    Profile photo of debbiemcdebbiemc
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    June 16, 2011 - 9:49 pm

    Hello all,

    Well the latest is that the house in Gympie is off the market and I'll be doing the PAYG variable shortly./ Ive just heard that apparently there has been a further offer on the house i wanted and theyre going with that so wasnt meant to be this time and I'm sure another one will appear eventually.

    I did also talk to an advisor who suggested exactly that Pete. I just feel so much better than I did a couple of weeks ago thanks to you all for your advice.

    Debbie

    Profile photo of debbiemcdebbiemc
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    June 14, 2011 - 10:02 pm

    Ironic! yesterday morning, I called the agent and asked him to call me as I was taking it off the market, called the tenant and left a message that I was probably going to keep. Five minutes later, the agent calls to say he had someone looking round at 1!! wish he'd have kept me in the loop! Not had feedback from that yet.

    However, the more information I get from you guys the more settled I feel about riding it out. You will probably all be shocked but my accountant never advised me about the PAYG, wow that wouldve saved me a lot of stress this past year! I do have a DP which was done last year so I should benefit when I do my return.

    My mortgage is interest only for 337k with Commonwealth. I will do some phoning around.

    I have an advisor coming this morning, no obligation. Yes I have savings but I do want to buy again for myself, I really dont like renting. Could any of you suggest if I have 180k in the bank now and the 70-80 coming from the UK in the near future, how much should I put on a deposit? I have held out for a small house which started out at 410k and I offered 350, I live about 100mtres away from the property( now and know the council land value this year is at 300k, my friend lives next door.)of course it was refused, but yesterday the agent came back annd said they would accept : )  I was planning to borrow 250k and now am not sure as they may not lend Due to the IP, well I live in hope and am keeping all crossed.

    Well once again, I thank you all for your support and advice on this forum. I feel a lot better now that I did before joining.

    Debbie

    Profile photo of debbiemcdebbiemc
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    June 14, 2011 - 5:39 am

    Thank you all for your valuable info and advice. The thought of buying another investment property fills me with dread : ) If i want to buy a PPR, surely I have to disclose that I have a mortgage on an investment property, so how would it be the same buying another investment property?

    Profile photo of debbiemcdebbiemc
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    June 12, 2011 - 7:37 am

    Thank you gents for your replys. I do have a depreciation schedule and all day have been thinking how I could reduce my outlay and put all the tax back into helping with those monthly payments. i suppose I'd have to shop around with different providers to see if I could change the mortgage.

    Paul, thank you, youve now thrown a spanner in the works :) Dont really fully understand this but will certainly do my homework. I think I have to get someone to come here and sit down with me. Any contacts for Sunshine Coast known on here?

    Many thanks again

    Profile photo of debbiemcdebbiemc
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    June 11, 2011 - 10:40 pm

    The house is in Gympie Beedie and thank you for your reply. I think thats it, I just don't know what to do. I was advised a few months ago to get rid and I just took that advice. If I reduce the mortgage so the rent covers, its a 150k! As for rent increase, he's paying top rent anyway for that area, most are 300-320 pw and I get $330.

    I'll keep my eyes and ears open for the number crunchers/advisors to chip in if they do :).

    I if I was to keep it, I would like to know is it wise to transfer the current interest only mortgage to a different bank with lower rates and if I was to change to  a P and I mortgage of course the monthly payments will increase. I just feel swamped by the whole thing and at the moment fell like I'm going to end up with nothing!

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