Forum Replies Created
Hi,
I am in the same position as "Runinnniv". High income, Positive Geared IP .I pay interest and principle (just) on our IP with the rental income.
I feel that people catergorise cash flow properties is various ways on this forum.
Can you elaborate on – look for a cash-flow positive AFTER TAX property for your next one. This is where the profit on paper is after the tax return is done, so you still get the deductions, and the profit, but not the tax bill.
Cheers
I have put the above posting out there and I have had no reply. Is that because I have mentioned a banks name and specific information or is it because people don't feel confident giving their opinion on comparing 'fixed' and 'variable' interest rates?
Hope someone out there can help with this topic as I am really unsure.
I have the option of consolidating my 2 personal loans by "topping up" our home loan by 25K and then using the $1000 F/Night to put into a offset A/C and save for the 25K deposit for next investment.
There are no breakage charges the ONLY thing is I will need to move out of the 3 yr Fixed to a Variable interest rate!
Any Ideas?????
Thank you so much for the above advice on "the order of dealing with debt". I feel confident to work hard on paying off the non-deductible debts and open a offset A/C to put any extra income when it appears……………..
Wanting the best of both worlds…………….!!!
I still want to reinvest in another positive geared property. We have the financial position in the banks eyes but not the deposit for the closing costs; about 25K
We have 10K but want to use this to pay off our personal loans before anything else.
Westpac advised me that I can "Top Up" our first home loan by 25K without any extra charges eg: breaking loan charges. BUTTTTT I would have to break out of our "fixed" interest 7.35% rate to "variable" 7.58% ! Because our loan will then exceed $250K the interest rate will be discounted to 7.36%, but still variable.
Please help me. what are the dangers of changing from fixed to variable interest rate.
Hi,
I have been reading the forums and developing my financial understanding but I have various ideas that many people say its 'personal choice". Can anyone help me become more confident with my financial decision?
I have 2 personal loans & a home loan (investment)
one Personal loan will be paid off in a months time – Yeah
The second personal loan has about $28K remaining on it. We took out this personal loan to allow us to enter into a family investment concordium.
We have had our positive geared Investment home loan for 8 months. Good tenants so far!!!
we have 8K aside, what do I do?
I want to reinvest
I want to pay off the personal loans?Please help
I would like you to talk me through '100% combined offset' that was spoken about earlier.Dont understand this.
