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The idea of refinancing is to increase the loan on the IP to 80% LVR and use the money to prepay interest on that loan so my rent goes straight onto my PPOR decreasing bad debt, increasing good debt.
The other option, selling would cost me selling fees and repurchasing but 50k is a lot less than the interest payments on a PPOR home loan.
Either way has costs but paying off the PPOR frees up income and allows more investing.
most of the time that is what i get but all my returns have been from IP that I have organised. I don't trust Investment planners as I have not meat someone i trust yet.
I invested with ozinvest for my first of 3 IP's and pulled close to 200k from the investment over 8 years, I payed 156 and sold for 342. If I had of been smarter and better educated it would have been more with a better structure on my part. They may not be the ultimate investment but they make things easy and have a good steady return no one trying to sell unrealistic returns. That is why i went back to them for the 3rd property and will do so again. For me they are a no hassle investment with good returns with easy admin and little time commitment. I am in the military so do not have time to renovate or look for tennats etc and they aim for people like me. Also they sell properties with out the lease back which cuts the cost and I have never had vacancies, in fact i have tennants wanting to sign longer leases for security of the property.
Doesn't the DS come in to count when you sell the property buy 'lowering' the purchase cost for CGT calculations?
Hey can you claim the FHOG when buying a PPOR if they have already own a IP?
Sorry I should add the company that rang is Australian Property Directions
Hey guys,
This $3000 fee is that for the finnancial plan as apposed to just approaching them for refinancing? What other Planners have you approached? I have had 1 group approach me over the phone that have some good ideas but I have not had a chance to research yet any one else been in this situation? They have a similar structure to Destiny from what I have learnt so far.
Hey guys,
I have bought a property through these guys and found that it has worked well. They are negatively geared but I now find the property is positively geared, and the capital gains has been sufficient to purchase a second unit privately. I was very green when I bought my first house and did no research at all but it has turned out alright so I was very lucky. the only real trouble I have had is with valuation when searching for a second place with these guys but i believe that was more to do with the bank.. They do charge a managment fee which is expensive but no where near as much as a DHA house and with my lifestyle it is money well spent not having to worry about tennant concerns.
