Hello XeniaI think this is the homework that Steve gave to people who attended his last seminar.CheersElka 

Hello PKSeems cheap to me. I was recently quoted $40/sqm to repolish floors or $120/sqm if it's a concrete slab and needs a floating floor. The quote was in Melbourne.Hope this helpsElka

Hello pasandbecWell that's good news. Are you going to auction it? It sounds like that may be the way to get the best price.Good luck with the saleElka

Hello pasandbecI'm not a MB but pretty sure that the bank will not allow you to use the cash in the offset account as security for a loan. You would have to put some or all the money into your PPOR loan itself,  then borrow whatever you need (using a split loan to keep the deductible interest for the IP seperate) and then take out a mortgage fo…[Read more]

Thank you Linda. I just had a look on ebay. It looks better than I thought it would. More food for thought.CheersElka 

Hello pasandbecThe following is taken from the ANZ site and explains what equity isEquity is the difference between what your home is worth and how much you owe on it. For example, if your home is worth $300,000 and you owe $100,000, you have $200,000 in equity. And over time, as you reduce the amount you owe on your home or the value of your…[Read more]

Hello BenThink long term. I assume working overseas that your on a good salary package and don't need your rental income at this time. By the time you get back your property should be even more CF+ and should have grown in value. Here is a link to the ATO site about the HECS scheme and repayments and should help you find answers. You have to r…[Read more]

Hello BenI don't know the rules about how long you can be a resident of Australia for tax purposes and not live there but it seems as if you may have reached the limit. For the ATO your rental income is your only income in Australia. Your salary will be taxed in the country you are earning it in. The reason that your tax will be about 30% of your…[Read more]

I worked in S'pore for 2 years but that was a long time ago. I now live in Belgium but invest in Australia. I plan to return one of these days.Have fun working in S'poreElka

Hello shivsehgalAs you have income in Australia from your investment portfolio you will need to put in a tax return each year. All expenses, including interest and depreciation, are simply deducted the same way as they are now from the income. Depending on how long you are going for you may want to declare yourself a non resident. The tax rate f…[Read more]

Hello NickI don't understand why your mother is paying 11.4%. Surely she has enough equity in her house to simply renegotiate a normal residential/investment loan which would then be very roughly around 7.5% . She could also make it interest only for a number of years. This would mean that she would have to put in about half of what she now has…[Read more]

Hello spudstaJust to make sure we are on the same page (pun intended) here is a link to the site karlm63 told you abouthttp://www.realestate.com.au/scroll down and there is a box marked  property reports on the right side of the screen. There you will find various reports. One for free and some which you will need to pay for.Hope this helps Elka

Thank you all for your good suggestions.  Regards Elka

I wonder if the fact that the loans were originally seperate changes the situation. I don't know if a finacial planner knows all the ins and outs of loans and how the ATO views them.  Worth checking with a MB who is into investing maybe?CheersElka

Hello mnedbrockSorry can't help you with your questions but thought you might do better if you moved this post out of the frolic section and into the accounting and legal section. Cheers   Elka

Expensive lesson.Thanks Simon.Elka

Mortgage Hunter wrote:
this is the DANGER of using one loan and mingling deductible and nondeductible debt!.  At the very least you should have had splits to clearly delineate the two amounts.The only thing you can do is to sell the IP – pay down the debt and start again using a fresh NEW loan.  You can sell the IP to a spouse or a trust but i…[Read more]

Well it certainly follows your motto Steve**********Remember that success comes from doing things differently.                **********I just hope for them that it's removable.

Hello BrownyUnless you're in wiggles position  (i.e. close at hand and a handyman)  you normally  give your PM permission for repairs up to an agreed on amount. Anything above that they need to contact you.The exception to this is if it's something urgent or dangerous. If the toilet is flooding or the electricity has fallen out or something then…[Read more]

wriggles wrote:
The only reason i thought of selling the F'ston south home because like i said we would be mortage free.  We could live off my wifes wage easily and be able to bank $1000 (my wage) a week in savings to do something else in 6 months to a year.Hard decision, but i can see your points as well.Could we still borrow against out home…[Read more]