doublek replied to the topic Turning a PPOR into a IP with a twist? in the forum Help Needed! 15 years, 2 months ago
also i have the wealth package with the CBA. naybe this may make a bit of a difference.
doublek replied to the topic Turning a PPOR into a IP with a twist? in the forum Help Needed! 15 years, 2 months ago
thanx guys. IO will be coming in a few weeks time.
doublek replied to the topic Turning a PPOR into a IP with a twist? in the forum Help Needed! 15 years, 2 months ago
also i understand that if i do change to an IO loan, I cannot pay more than 10,000 a year off the loan. but if i put the money in the offsett account this will not affect this.I am still thinking of paying more off the home loan untill i get the $100,000 as this way my total owe is less and my unit may even be cashflow + when i go to rent it…[Read more]
doublek replied to the topic Turning a PPOR into a IP with a twist? in the forum Help Needed! 15 years, 2 months ago
thanx for that 007, although I do not think that I will change lenders at this stage.For the moment I probably will get the CBA offset account and park the money in there and then see what happens.i will probably use my savings still for my transactions anf my loan payments come out of that. The offset account will purely just store this money…[Read more]
doublek replied to the topic Turning a PPOR into a IP with a twist? in the forum Help Needed! 15 years, 2 months ago
i think what you are saying when you say not transactional is that it has a min $500 deposit and withdrawal fee. would this be correct?you cannot really pay bills and other stuff. Am I right?
doublek replied to the topic Turning a PPOR into a IP with a twist? in the forum Help Needed! 15 years, 2 months ago
thanx guys.what is wrong with the CBA offsett account?I have basically everything with the CBA. Are you saying change to another loan provider?
doublek replied to the topic dodgy property in nice area in the forum hello there Jane
i 16 years, 5 months agohello there Janei understand your thoughts on the lower north shore unit market. i am assuming that you are looking at areas such as lane cove, artarmon, chatswood.these areas have had some considerable growth over the past year. lane cove moved about 15% in 2007 is what i have been lead to believe. you cannot get anything decent in lane cove now…[Read more]
doublek replied to the topic Well Im happy :) in the forum Help Needed! 16 years, 6 months ago
shit mate.you would have approx $330,000 now from the $50,000 investment.and in 3 months. WOW.
doublek replied to the topic is it a bad idea to get a home loan top up to pay credit card debt ? in the forum Help Needed! 16 years, 6 months ago
yeah Scott I have thought of this as well but decided to stick with what I will do.Foundation, the bank will give me a minimum of $10,000 for the top up but to cover the interest that builds as it is getting processed, they give you a little more.The extra that I receive after the cards are payed off go back into the mortgage. Does this make sense buddy.
doublek replied to the topic is it a bad idea to get a home loan top up to pay credit card debt ? in the forum Help Needed! 16 years, 6 months ago
thanx for the comments.i will go for the top up and make sure that i put extra into the home loan after the credit cards are payed off.
doublek replied to the topic is it a bad idea to get a home loan top up to pay credit card debt ? in the forum Help Needed! 16 years, 6 months ago
i do not know what you are talking about foundation.the equity is that my ppor has gone up in value and i am accessing a portion of it to pay of the card debt.or were you replying to another thread. sounds odd.
doublek replied to the topic is it a bad idea to get a home loan top up to pay credit card debt ? in the forum Help Needed! 16 years, 6 months ago
thanx for the reply. our mission is to pay off one card which has $4500 owing and then cancell that account. this leave us the 2nd credit card which we will pay and then reduce the amount of credit. any extra will go on the mortgage.so you think that this is a good idea then?any other comments.
doublek replied to the topic lane cove tunnel. good for lane cove? in the forum Help Needed! 18 years, 1 month ago
thanx for the reply.
from your point of view it will be a +
i think as far as location goes and also the leafy suburb that it is, if the traffic eases around the area it may well have an effect.
any more points of view……………………experts anyone?
doublek replied to the topic Trust, company or yourself? in the forum Legal & Accounting 18 years, 2 months ago
how difficuilt is it to get a trust?
if you are investing in your 1st IP and plan to invest more in the future is everything you invest in go under the first trust fund you open or do you need more than one eg: 1 trust for each property, or does your whole IP portfolio go into the 1 trust
thanx
doublek replied to the topic IP types & returns in the forum General Property 18 years, 2 months ago
good question buddy. i have wondered this myself.
i have a suspicion that they have a high rate of people renting for 6 -12 months and leaving thus leaving the property empty for sometime.
anyone else have any ideas
doublek replied to the topic Property bust not here yet … worse to come in the forum General Property 18 years, 2 months ago
IMHO – in my humble opinion
a few more i have picked up
PPOR – principal place of residence
IP – investment property
doublek replied to the topic Property bust not here yet … worse to come in the forum No Subject 18 years, 2 months ago
good advice. can i ask you what you mean by not borrowing over 50% leveraged?
doublek replied to the topic Property bust not here yet … worse to come in the forum General Property 18 years, 2 months ago
thanx for that wealth4life.
good info there.
this is a v.good forum by the way.
keep up the good work.
one more queastion, if we buy another property with the equity say of $40,000 worth, how does this work?
you borrow the equity and the home loan goes up again and if you invest in a IP you are borrowing 40,000 plus what the house is worth…[Read more]
doublek replied to the topic Property bust not here yet … worse to come in the forum General Property 18 years, 2 months ago
also you mentioned young people, we are not that young, I am 33 and my partner is 35 so we started a little late.
we are also planning to have a few kids in the next few years so this will make it harder again.
doublek replied to the topic Property bust not here yet … worse to come in the forum No Subject 18 years, 2 months ago
thanx for the reply.
So at the moment the best thing for us to do would be to make as many repayments on the unit and then start looking. good advice.
we are planning on getting married next march.
if when the time comes as you say to use the equity in the unit, do you think that we should sell it and buy, or should we keep it and buy?
what…[Read more]
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