I don’t think you can carry losses over in a trust.

I have mine with Allianz as well.

Hydramax

with OTP investing what guarantee do you have that the developer won’t go bust. Irrespective of how big or how small.
Huge risk unless you think it reasonable to lose the insurance premium for a Deposit Bond.

Hydramax

Hi 5c1
Really sorry to hear about your unfortunate situation. Must be very upsetting. But my experience in the past with insurance companies now entails me before applying for any type of insurance asking for a copy of the PDS. I then print it out and take the time using a pen to scrutinise every paragraph on every page. It is a monumental…[Read more]

If you were to concentrate on buying your IP after a short while you would soon see the advantages, and how quickly you can create wealth by valuing and respecting the $$$. I know it’s harsh but once you reach that point you will soon forget about spending big on a motor car. Any vehicle lease would put a large dent in your serviceability. I know…[Read more]

From my experience with the SRO you need to make at least 3 phone calls and speak to 3 different people re your problem to get an understanding as to whether any of them have any idea re your query. If 2 give you similar answers you may be able to move forward from there, but even then it doesn't mean they understand what's correct / not c…[Read more]

Great advice Terry & Richard as always, well done. Just the support a newbie is looking for in this forum!Hydra

Is their a minimum amount for each redraw and have you checked if there is  a fee attached each time?Hydra

Jenny, Because it is a family member the ATO may consider it board and lodging and not being rented per se.I'm sure a forum member who knows for certain will answer your query shortly.Hydra

Tuff-etMight want to find out from the bank if your pre-approval has passed the LMI's. This normally requires all documents including a street address. Just be careful, a pre-approval from the bank can still get knocked back from the LMI.  I don't mean to be negative but you need to find out for sure before committing to borrowing  80%+.Hydra 

AMP, are fairly tuned in to investors. Has a large Finnancial Planning arm. They have 2 good products for property investors one being I/O and another with an LOC.Hydra

Hi Vitale,Has your bank done a valuation or did they  just give you a guestimate? The others are correct in saying it is pointless in getting your own valuer. Also if your looking at borrowing against the equity it might be wise not to go over the 80 LVR incurring LMI as I believe the valuers are aware of the circumstances for the valuation and wi…[Read more]

Make sure you keep logging on to this forum, you will be amazed at the knowledge you pick up.Even trolling through the inactive posts for research will surprise you.But I would definately be starting with residential. Good Luck!Hydra

IP     Investment PropertyPPOR     Principle Place Of ResidenceLOC        Line Of CreditIO            Interest OnlyP&I         Principal & InterestLVR       Loan/Value RatioJust a few, log on regularly and you will soon pick up the lingoGood Luck.Hydra 

Might be an idea to get one of Richard's property reports done, if your borrowing on a high LVR. That way you may avoid a nasty surprise if successful when the bank does their val.Hydra

The last time I asked for mine I paid $28 by cd and it arrived by fastmail within about 10 mins.Hydra

I really don't believe rates will rise before xmas. Remember the bank's economists have a self interest in promoting interest hikes as it pushes people into fixed rates-great for the banks. Rates are definately going to rise but I believe it will be early next year. People will stop spending as soon as the first hike even if it's only 25 points, I…[Read more]

daniel_73I know a property development / real estate group building at present in Essendon. they advertise a  capital return of 28% over the initial 3 years. They produce a 40 page investment pack and units start at $375k. Email [email protected] for details.Hydra