the only way icould start was to x collateralise or pay a fortune in LMI which i didnt have.now i have equity i have found it sometimes time consuming but have uncrossed,had i listened to the doomsdayers i would have done nothing and not had 5 IPs under management.

is that a legalpoint or a personal opinion.again why isnt the conveyancer putting up their hand and saying oops

i agree with terry you should apply for a private ruling
.if you take out a line of credit against the ip then use the rent to pay off your ppor and let the ip interest capitalise i wonder how the ato would view it.
 i believe they will ask you do you own your ppor ,if no do you intend using the ip rent to help pay off your ppor  and let the ip interest compound.
.my gut feeling is if you use the money for any other reason than to pay off your ppor the ato will allow it.again apply for a private ruling
.look up private rulings 69725 (this should be very helpful ) and   and my private ruling number 78123 these may be of help.
one key paragraph in my private ruling was

you will use the rental income to pay the interest and other costs such as rates,insurance and maintenance on the property/and if there is anty shortfall interest will be capitalised.this is because you do not wish to use any personal income to pay the rental expenses.
again this was my case and you should not rely on this and apply for your own private ruling

good luck

investor 123

how can you say its not bad debt just unsecured.do you think for one minute a lender is going to say yes we will loan you money because your bad debt is only unsecured  you dont have debt collectors after you.

this guy has to stop spending and pay off his debt.its as simple as that.dont kid yourself the bad debt fairy isnt going to come along and wave a magic wand.

did the agent act in the best interests of the vendor by getting the highest /best price.i dont think so .i only put real estate agents one step above politicians and used car salesmen.his commission on that extra $1100 WAS SAY 3% or $33 meaning the vendor was $1067 which could have paid conveyancing.put a flyer in peoples letter boxes asking if they want to sell.i have.tell them how much the real estate agents commission is and that you are prepared to pay X amount meaning they are  anywhere between 5000 to 7000 better off.make sure you know what the property is worth even tell people to contact a local agent and ask how much their commission is.try to make it a win win

i am not hearing anyone say that their properties are shabby,old,in poor growth areas,get a poor yield or poor capital growth.i have never purchased through tic though i did attend a confrence( paid for by myself).the government is telling me i have to work to 67 to get the pension .my super wont buy me a new car when i retire if i live that long.their idea of accumulation and living of the capital growth  and refinancing (and excess rental hopefully)sounds okay to me i never heard of anyone going broke making a profit.!!!!!!!! if i sell i pay what 10000 in real estate fees and another 20000-30000 in capital gains tax everyone wins except me.they have all got their hand in my pocket.i would rather be master of my own destiny rather than listen to doom and gloom and do nothing. when i drop dead my kids can do with it what they like  but  until then you could do a lot worse than listen to the investors club you can look on the net to find properties in similar areas if you like.if in doubt with your valuation go 80% lvr stand alone  the banks will let you know if its over valued too many people here think they wat they do things is the only way to go.i say if you sleep soundly at night thats all that matters.too many people here line there pockets from inexperienced investors.at least tic lets you know what you are up for and offer support after the purchase name one real estate agent or broker who does that

Fishgym
just remember ,brokers have a vested interest in their comments as it can lead refinancing and commission.ask a broker to give you a rebate or refund for using their services and see what answer you get.whilst i am not a fan of cross collateralising if it means you get the loan isnt that better than not getting the loan????????i picked my brokers brains ,spoke to lending officers at different banks about loan types ,fees and conditions asked a lot of questions  about lvrs  then was able to and had the confidence to approach bankers on my own.the only way to get your lvr down is to pay off the capital or wait for growth

i have had dealings with the cba similar to yours once the lvr got down to 80% i was able to get them to stand alone.i then went to a different bank for my next purchase.i tried brokers and was stitched up with the wrong loan type paying monthly fees.from my experience with brokers i suggest you try  having an informal  chat to a loans officer from another  big 4  starting with w bank i found them extremely helpful and more knowledgeable than my broker plus they are not as much commission driven

its never for tax purposes is it?