Hi sorry for the long time to reply.

I have a commercial property and on the lease it clearly states the tenant are to pay 100% of all out going which is related to the building.
They are being stuborn and refusing to pay a few things such as building insurance that i took out and fire safety cost for the building.

I just need someone who is experience.

Derik and Jamie M and Terry M have been such a huge help and inpiration to me as they have exllained quite a lot and make thing clearer. I didn’t know much before but thanks to these three they have given
Me such confidence and heading forward.

They know what they’re talking about.

Sonny nguyen

Ok so the money that is redraw have to be in a different account ie seperate from all other funds or can be use to pay off purchases to be 100% safe right?

A redraw shouldnt effect the new investment should it? Unless you refinance with the original loan and use that money for invezting.

Can someone clarify?

Oh it’s my fault for not paying attention when she was explaining things.
I called her to double check on things and basically she’s saying what you guys are saying.
To pay the ppor 1st then just pay interest only for ip.

You have to give me a bigger wink Jack.Maybe a pointing finger and GPS location lol

LOL I was thinking the same thing when you guys were explaining things to me but i didn't want to sound rude that's all.Well at least now I'm a bit more informed than I was yesterday thanks to people on this forum.It seems I will have a meeting with my banker and seek out some new loan options with offset facilities to somewhat future proof my…[Read more]

Quote:
Under this situation you are better off placing your principle payments ($200 above + principle payments currently made on your home) into an offset account. When you find the new home you can grab all of the money in your offset account and use these funds as deposit for the new home. If you borrow funds against either your existing home…[Read more]

Just buy the damn thing lol.  IT's only 32 bux

Derek wrote:
First thing I would do is convert commercial property to I/O and (because you want to pay things off) put the money you save into your own home. This will have a similar net effect but is more tax effective. Are there any plans to buy a 'bigger, better' home elsewhere? The answer to this also has some bearing on which way you…[Read more]

Thanks MichaelI think I'm not that comfortable with risk but that's not to say I wouldn't take big risk it it means there would be massive gains in the end.  As for financial I think I'm ok and my job is stable.It's good that you have mention investment strategy or lack there of as I have no real plan at the moment except for wanting to own…[Read more]

Thanks for clearing it up for me guys.

Thanks guysWell the property is a retail shop, and I just had a quick look at the lease contract which also states that the tenant must pay 100% of all property out going so i guess that will help my part when it goes to mediation .Sonny

Oh so the Letting fee is a one off.  That's good news as I thought it would be yearly (what a noob I am).  They are charging $500 for advertising fee as a package and $3 a month for mails etc if it was to be Re-leased.Well the lease as it stands when I take over will be 10+5+5.As you've said it seems reasonable so I don't need to feel ripped off t…

Too  bad Richard is not in Melbourne.Anyway I just finished talking to the consultant and she showed me some packages from ING, which seems to be a lot cheaper than most other banks and not much annual fees.Have you guys used ING before?

Ok I've just browsed thorough some comparison rates and I think ANZ might be a better choice in terms of big banks

I have an appointment with a consultant from mortgage choice on Wednesday but i don't know if they will just point me to some bank that they may have a secret hand shake with already.As for other banks who would you guys recommend?

What would be the benefit of renting as your Primary residential address while buying a property to invest?  The way i see it is that you are loosing your money with rent while having to struggle to pay for your mortgage.  Can some one explain this to me? Also I don't know it this is good or bad news, but my parents in law have offered us their o…[Read more]

WOW…all the advice are very welcoming.  Thank you everyone.  I will try to do some more research on what you guys have told me.Hi. Simon Macks.  It would be awesome if you would give me some info on that article.Tammy:  Thanks for clearing things up Marc:  Well thanks to my wife as she is a very good saver, since i used to spend a lot a few year…[Read more]