Hi guys, need to bring this one back alive for a moment…

I was convinced an offset account on an IO PPOR loan was the way to go for me.

However, please consider this example.

PPOR IO loan 300K with 100% offset.
All income (wages, rental etc) are placed into the offset reducing interest on PPOR. I then redraw funds for living and business…[Read more]

Thats a good point about the 4 years.

Anway, I am ready to give it my best shot.

That 12 month membership is extra again – about $4,000 I think – they only allow 50 members at any one time. You have to wait for people to go out on their own. He says people are normally experienced after a short time with the group where they don’t need them…[Read more]

He is basically a real estate investor (see http://www.realinvestors.com.au) involved with a large network of other similar minded professionals.

I went to his introduction seminar and he is pro +cf properties and has some real good ideas. Sort of like an Aussie version of Rich Dad I guess, but I am not sure of his wealth. He claims to have built his…[Read more]

thanks once again.

I hope one day I can help you once I gain more knowledge.[^]

Dan

Thanks heaps for your reply![^]

I guess I need to keep thinking, I will let you know if we come up with anything.[]

Dan

Hi Simon

on point 1.

I have a PPOR which I am refinancing to gain access to approx 30K in equity.
I also have an IP which I am refinancing to free up approx 70K of equity.
The 100K total equity is going to be for purchasing my first business. I was just hoping to see if anyone had any ideas on how I could more wisely my situation to maybe pickup…[Read more]

Good Information,

I like the way you think![^]

You help is very much appreciated.

Dan

Hi Brendan, thanks for your reply [^]

I really do believe our home was undervalued.

Can you give my an idea of what your valuation checklist/kit includes and what format it is in, so I don’t get caught out again.

thanks again[]

Dan

Thanks to Simon, everything is clear now.[^]

Us newbies really appreciate all the advise of you experts. Thanks Heaps.[^]

Dan

Thanks, my understanding was not correct. [^]

I was also under the impress Trusts were used for tax savings, however I guess they are really only for asset protection?

Also, if people are recommending to have a company the beneficiary of a trust, I assume again for tax savings, how are your assets protected if the business my company owns is…[Read more]

The point was trying to clarify was how the LOC/offset account can be transfered from place to place.

I have an IP that was my original PPOR. There is a lot of equity in the IP that I want to “transfer” to my new PPOR. I have not been able to think of how to do this. The original post hinted this was possible.

So how can I do this?[]

Dan

Sorry, but I must be having one of those days.. I totally do not understand what was said in this thread. Could you maybe please re-word it slightly as I believe it will apply to me.

thanks

Dan

Originally posted by MortgageHunter:
Sorry mate,

You will be creating a new loan on the amount you draw from the IP. The purpose of this loan is for your PPOR so non deductible.

However if the money was in offset you would be OK as you are not touching the original loan.

Cheers,

Simon Macks
Mortgage Broker
mortgagehunter@iinet.net.au
0425…[Read more]

Hi everyone

Man I am sure confused. I am relatively new to this site, and am a huge fan of Steve’s book “0 to 130 properties..” and was convinced that positive cashflow properties was the way to go. HOWEVER, what you all have been saying makes a lot of sense.

Are you all saying you disagree with Steve’s book? and if so, how can we all earn a…[Read more]

Thanks for the replies everyone[^]

I have taken Jarrod up on his offer.

Us newbies really appreciate all the help offered on this site.

Dan