I did pretty well out of this.

I was on 4.74 at Westpac prior to the drop as @CjaySA; negotiated me a good rate. More recent properties are with CBA who also passed on full discount.

So 25-28 basis points will save me a few grand a year :)

Hey Craig
Is it for your IP or PPOR?
If it’s an IP then your mortgage broker should have set you up with an Interest Only (IO) loan. If its your PPOR then it could be either IO or P&I depending on your strategy.

This affects how (re)payments are calculated.

Sure. I count 105% interest into all my properties because that’s how they’re all financed. That’s the only fair way as well when taking into account opportunity cost.

Just a couple of examples of my own recent buys if I may – $147k purchase with 250/wk rent in one suburb, $250k purchase of a duplex pair in another with 2 tenants totaling…[Read more]

Sure. I count 105% interest into all my properties because that’s how they’re all financed. That’s the only fair way as well when taking into account opportunity cost.

Just a couple of examples of my own recent buys if I may – $147k purchase with 250/wk rent in one suburb, $250k purchase of a duplex pair in another with 2 tenants totaling…[Read more]

I don’t think its very smart. I think there’s other (non RBA) ways that economy could be kept afloat.

In saying that, it saves me $3k a year. Not complaining :p

A long lease like that is quite likely to be either serviced apartment (avoid at all costs) or Defense Housing Australia, which can be OK if it suits one’s goals. I doubt bank really cares about the length of lease as long as it’s legitimate.

Your mortgage broker sounds correct though. There’s an amount that the banks calculators set aside each…[Read more]

Yep, it’s definitely changed. I doubt any 2 people will ever be able to do the same as each other. Opportunities come and go, there’s *always* something, somewhere, that money can be made from.

Buying cashflow postive properties is absolutely possible. Some suburbs of Brisbane, most regional centres in all states and most of metropolitan…[Read more]

First, you need to get hold of the PM so that you can find out whats actually happening to stop the guessing game. If you can’t reach the PM by email, try the owner of the company by email and/or by phone too.

Secondly, just because a lease ends doesn’t mean they have to leave – in some states the lease continues onto periodic automatically. It’d…[Read more]

Really depends on what you’re trying to achieve from your purchase.
Davoren Park may have best cashflow since purchase price is likely to be lowest. It’s the most feral of those you listed.
Andrews Farm I don’t see going far – its rents are about the same as neighboring areas but its prices are higher and yields are lower, so isn’t attracting…[Read more]

Xero has some plugins

Buy 4 more places (2 down, 2 to go for 2014)
Reduce my non-deductible loans

I don’t understand what you’re getting at. If you don’t like the price of the service shop around til you find one you do. Or self manage. Or if you think they’re making a fortune, join them :)

Heaps of places in Perth charge 9.35% + GST + 2 weeks letting fee + monthly admin fee + yearly fee + condition report fee + inspection fee + tribunal fee + lease renewal fee + bum scratching fee + GST on all of the above

Its a free market economy. No ones ripping anyone off. You’re free to self manage if you don’t want to pay the cost, or to shop around for best price you can find. Also, price doesn’t always correlate with service.

I’ve done extensive research on opening an agency in both Perth and interstate. And despite Perth charging a heap more, I believe…[Read more]