I was very interested in working with PRE, but after some research I decided to go on my own. They have very interesting and cool advertisement strategy and it works. They are very aggressive and growing fast. it is a problem !

I think it is pretty simple: it is a business. The goal of any business is to make money ! With growing staff they need…[Read more]

Ok mistake was made before. Early November.

I withdrew $9.5K from Emerald home loan and put it on Offset account. Is it to late to put it back?

or just keep it at offset and claim only ~ 95% in tax deduction vs 100% ? ( Debt 185 K atm)

Thanks

Thanks Jamie,

I spoke with NAB before and HAHAHA that's excactly what they said !

I have couple of questions about Emerald unit: 

1) It will become IP with IO loan in the end of December – do I need offset account for it ?

2) I have $3000 on Emerald loan that I can redraw before it becomes IP with IO – is it ok do redraw money now?

Thanks…[Read more]

Hi,

I think any criticism is good. Because it make you think and think hard ! You don't become complacent and through deep analysis you can figure out what is good or what is bad for you in given circumstances. Every situation is unique.

I fully agree with Nigel Kibel that the FAMILY is the worst ! You always can ignore other people but you…[Read more]

Hey Richard, I sent you e-mails before about this story. It is pretty messy…

I spoke with NAB and they said it will cost me $8.5K to brake fixed loan so I can uncross-coll

The story is that I bought second house from so-called investment guru and financial adviser in Emerald who works with NAB only and sells expensive houses with his builder…[Read more]

Thanks guys ! Love this forum. it is unbelievable what you can learn from few posts in short period of time.

I forgot to mention: Emerald Unit is 1 year old and fully furnished. Yes Narangba is brand new.

Ok I will use offset money to buy new PPOR in Mackay with different lender.

 Car can wait ( see what happens with novated lease) 

I will…[Read more]

my math:

Emerald unit $ 900 / month – interest only x 12 = 10,800
tenants rent $450 / week (after real estate fees) x 52 =$ 23,400

Profit= $12,600 – 2K strata – 2K council rates – 1K insurance – 600 extra = $ 7K

Brisbane house: $2400/ month – interest only x 12 = $28,800
tenants rent: $1500 / month (after real estate fees) x 12 =…[Read more]

Hey guys thanks for input.

@ Scott: company will issue me a work car and knowing my company they will not accept Novated lease unless I am manager.

@Jamie M: Yes Emerald will become interest only IP.

I can't use any equity from any of my IP because they cross -coll and Narangba house is locked for 2.5 years now on fixed term. Scott suggested…[Read more]

car is for wife and I don't think I can get novated lease with my company.

if I leave this set up the way it is I will get $200/ week in profit – means more tax

Thanks Scott No Mates.

Yeah I made few mistakes here and there…

Never though about LOC- need to research. So I just ask NAB to open LOC for say $50K. and use them as deposit with another lander ?

I want to buy in 6 months in Mackay.

Nothing wrong with Positive gearing but I am paying too much tax every year ~ $ 30K and if it is Positive I…[Read more]