No problem.  You have to look at the bigger/longer term picture.   Don't look at your current repayments lasting the full 30yrs.  Your income goes up, the mortgage goes down."I am currently on $25K and studying. I am thinking of dropping uni so I can earn more, and not have to repay HECS."While I agree uni is a waste of time (just a piece of pap…[Read more]

Hi WynyardYou sound like one of the typical whingers out there who are not prepared to make some sacrifices now to get ahead.   Any whinge to keep renting."and the repayments would mean we would be living off less than the pension for those 30+years. " Your logic is stupid.  Genious, your wage does not remain constant (it goes up), and your mor…[Read more]

House Call wrote:
We don't want to buy further  CF+ IPs in my name (already in upper tax bracket) as it will just bump up my income further and any income will just disappear in tax.So do we bite the bullet and go for positive geared in my name and pay heaps of tax or in my wife's name and lose a lot of the depreciation benefits?

House Call,…[Read more]

So lets get this straight nzuvo09.  Your on a combined income of 100K/yr, yet have virtually NO saving, and a credit card debt.  So effectively you have nothing, except your supposed "equity".  Even for your existing hosue it sounds like you have NO savings, and used government money for all the costs.  It sounds like you have payed off very lit…[Read more]

Even $300K puts you at a 85% LVR.   You can try, but most banks won't touch you.   With your little saving history, no bank will take you to 95% on 2 properties.PS: your $300K value is not real.  It's gone up temporarily because of other first home buyers that rushed in.  Wait till next year, and see where it is.  (Back to $270) I suspec…[Read more]

I'm also wondering how would we go with using our PPOR for equity?What "equity" nzuvo09?  You have bugger all.  It looks like you already used just the FHOG on 95% LVR to get your PPOR, no stamp duty, etc.  With no saving, little equity.  Forget about an investment property.  Save a little.  Your probably need to get your LVR down to 70% (oe your…[Read more]

"We are looking to purchase another property  in the next couple of weeks."I'm curious Fiona.  Did you end up getting the 2nd investment property?

Fiona, are you also factoring in on the (rent approx $560/week) management fees of 8-9% =$515.Even if you fix, it's at just under 7% now, and fixed rates will just rise from now on if you wait (5 and 10 yr bond yields are rising), so the fixed rates will as well.  Loan $600,000Say 7% (interest only)Weekly repayments of $810Rent of $515= 1200/mth…[Read more]

Fiona, looking forward to buying the properties off you for a bargin, when you go broke in a few years.Have you got your rates fixed?  What will you do when the interest rates go back up to 8-9% in 3 yrs on 90% LVR.  Scary!!Loan $600,000Say 8.5% (interest only)Weekly repayments of $980.Rent of $550.Aprox $1730/mth, then other costs.  For 2 pr…[Read more]