Hi,
thank you for the comments.
The excess money will be used for investments…Redraws are also used for investments. I would like to build my art portfolio as well And personal spending is paid out of savings.
Cheers.
Dianne

ANZ have a V2 account which doesn’t charge for any withdrawals & you don’t loose your interest for month if you withdraw, however you must maintain minimum of $5000 in the account. I think it is 6% interest from memory.

Yes I found out about the $1.01 per week fee centrelink charges…they charged me not the tenant. The tenant has to come into the office each 10 weeks & pay the shortfall of $10.10. It has only been 4 weeks so we will see if this actually happens.

I don’t see how centrelink can say that it isn’t the responsibility of the tenant to pay this…[Read more]

Thanks Terry for taking the time to do this for everyone…it is most appreciated.
[exhappy]

Hi everyone,
I have just come across this thread & I am saddened to see that there is so much bickering & judgement being passed around.

I feel saddened that Simon will not read the thread again nor contribute to this wonderful base of knowledge. Simon I have enjoyed your responses even though I don’t make reply posts.

Today, I felt it…[Read more]

Hi there,
We are in exactly the same situation at the moment. I have heard it said that you don’t have to pay SD if the Directors & shareholders are the same as the individual, however after professional advice it is NOT true. (in Qld anyway)

We were in the process of changing our premises over to our family trust. All documents were drawn up…[Read more]

Good Question…when someone gives you an answer, please let me know too?

Hi Kum Yin,
Good luck…please keep us informed of your progress & whether you do a deal with Martin Ayles. I will be attending his seminar in October so I am sure I will learn heaps.
Cheers…Di Burns[exhappy]

zopm,
The costs all depends on where you are…

Working it yourself will cost your labour in finding other deals, so it all comes down to what you want to achieve…

I work it into my numbers at the number crunching time so I don’t have to do the labour myself. If I were to do the labour, I wouldn’t be able to do as many deals (and I probably…[Read more]

Thanks for the tip…How much rebate do the Government give you for putting in a rainwater tank? I hadn’t heard about that? How do they pay the rebate – is it on invoice?
Thanks & have a brilliant day!
Dianne Burns

Have you considered just painting the roof – if it is still okay and just looks bad. This is the cheapest option and looks a treat afterwards.

Good luck…Di

Hi Chris,
Thanks for sharing your predicament with us.

Have you thought about renting out your PPOR at a higher rent & living in the 2 bedroom unit for a time until you feel your circumstances are changing?

Also I would consider putting your rentals up…Have a property manager help you there. If you have plenty of cash in the bank, why not do…[Read more]

I am sorry but I must remove this post soliciting funds.

I am interested in knowing why you would want to do a 105% loan for an IP??? I am not sure I understand your logic? Can you please explain to me…
cheers Di

Hi Island girl.
Seems to me you already have a good handle on it all. You have done your homework & you have goals. Maybe it would be a good idea to set a few targets to reach over timeframes…this helped me stay focused and kept me moving forward.
You have a fantastic start…Keep up the good work..
Cheers. Di.[thumbsupanim]

My advice to you is to do one of Steve McKnights seminars or read one or two of his books.

I did exactly this in January this year & now have the knowledge to buy a property with positive returns. I owned only one property in January that was very very negetive geared…We are talking $1450 per Week!!! EEEKKK.
I have since changed that property…[Read more]

Hi Munno,
Just thought I’d add my thought here for you. Some the same as others…

Option 1.
Q1. Maximum benefits – talk to a good accountant and get advice with regard to anything to do with ATO.
Keeping the house is good option if the rental yeild is ok. If you do choose to put in a friend, do it through a rental manager at proper rental…[Read more]

I feel that any area has potential, however it is what you do with it that matters. Mt Isa has been booming for quite some time & doesn’t look like stopping in the near future. I have been researching & watching there myself for some time, however I feel I am too far away to keep a good eye on what is happening with my IPs. So I chose somewhere…[Read more]

In my experience it is not a huge problem, so long as the main structure has no damage. Stumps last time I checked were about $150-$250 per stump to fix (about 3 months ago), and it may be a simple case of plastering to fix the wall.

I would recommend you find yourself a good & reputable builder or handiman to go around and check it with you.…[Read more]

There is more to loans than just the IO or PI part. IO is the way to go if you want to build your property portfolio.

There are other things to consider when taking on loans. Remember to check what sort of loan is best for the deal you are doing. For instance, You may have a huge break fee should you wish to pay out the loan early on a sale…[Read more]