Many thanks duckster.Regards,Gats.

Will be interesting to see what happens if the latest rate cuts don't have the desired affect (one of them anyway) to stimulate property prices. If they don't and we receive another cut down the track (well the cash rate at least – don't have much faith with the banks the further any cuts may occur) I'd be wondering if there is any truth about a…[Read more]

Carlton has dipped quite a bit in value over the past 12 months I've noticed. Read the back of the latest API magazine and it's something around the 30% mark (????). It could be a ripe time to buy now then if it bounces back up over the next couple of years, but, I have one concern at the moment about property in general. If the recent interest…[Read more]

Thanks for your advice and for replying Jamie. Cheers,Gats!

I salary sacrafice my credit card. $617 of my pre tax fortnightly pay goes onto my card, as it could to my PPOR mortgage, rent, utility bills. You cannot however salary sacrafice the repayments of an investment property. Well at least the company we out source salary sacrafice to won't.Cheers,Gats!

Thanks Terry. I started thinking that if the P+I rate they are offering me is the same as the IO rate then if I go P+I, I'm already paying down some debt. Therefore I thought that instead of going IO and making additional payments, if I go P+I and make additional payments then I would be even more ahead in debt reduction. I've commenced the swit…[Read more]

Hi Terry,Thanks for your reply. I don't have any undeductible debt (as in PPOR mortgage, etc). I would have thought that seeing that the P+I rate is the same as the IO rate (both with an offset account) at 6.49% then if I went P+I I'd have to be paying more off the debt? If I've got this wrong please feel free to point me out. Many thanks…[Read more]

Ditto to Richards comments. I wanted to change my two IO investment properties that I have/had with the CBA to their MISA account. I'm paying 6.66% too but the jargon I was fed trying to tell my local manager that it's not a true offset account (ie minimum amount must be withdrawn for use, etc) had me talking to a brick wall. I'm not blaming the s…[Read more]

Hi Dan,I'm in a similar position to propertymistro. I'm with the CBA and have a wealth package with them. I have two investment properties that are io variable and a redraw facility. I want to change this with them so that I have an offfset account against one of the properties. Does this mean that I can't use their offset account as other banks…[Read more]

Many thanks guys!Cheers,Gatsby!

Thanks for your reply Jamie. The fees to exit are as you said ($700 per property ). I'm thinking maybe just to put an offset account against one property as suggested. Will using an offset account as an all in one account cause tax problems if I withdraw money to pay bills, etc? Many thanks again!Cheers,Adrian!

Many thanks for the reply Terry and Jamie. I met with the CBA today and I have had the two properties discharged from being cross collateralised so that now each one stands alone. I went through the strategy that I outlined in my original post (throwing as much money into the redraw as I can while living on my credit card and paying it off in fu…[Read more]

Do an ASIC search on Kevin Young. 'Let the buyer beware!'

Ditto?

Thanks for your reply Terry. The offer is for a minimum of 5 ATM's which costs $70k plus GST returning 20% or 20 cents per transaction, whichever is the greater ($70k x 20% = $1,167 per month).  Also it qualifies for Rudd's 50% tax deduction if purchased before the end of this year.It really works best for people who are selling investment p…[Read more]

Did anybody go to their seminar last night (Sept 14th) in Glenferrie Rd, Hawthorn? If so what did people think?Cheers,Gats!

Thanks Kenny and Karen. I didn't realise that . I'm with VicSuper and will check it out !Cheers,Gats!

Thanks Karen but I don't have a SMSF.Cheers,Gats!

Thanks to the above for replying to my question. PM incoming.Cheers,Gats!

I don't drive I hitch hike. One day I was hitch hiking and a semi trailer loaded full of cars pulled up for me. I raced up to the cabin and the driver said, "I'm full in here but why don't you get into one of the cars on the trailer?" "Cool," I thought! Then we took off. Over the next two hours we pulled over and picked up seven more hitch hikers.…[Read more]