Are IO loans with offset accounts typically static with their payments or do some of them adjust each month to reflect the balance in the offset account.Andrew

Many thanks Paul,So where does that leave people like me who want to look at vendor finance as part of a +ve cashflow portfoilio?Andrew

Hi Woodie,I have a LOC for my PPOR.  I'm disciplined with my spending so have had no problems from that angle but it can be a trap for others.  Good thing is that you only pay interest on what you take out.  But this can be achieved with an IO loan and an offset account.  I'm about to refinance my PPOR loan over to IO with offset.  It keeps it s…[Read more]

Mr5o1,Do you have a govt website you can recommend with more details on the scheme.  I've only read a little bit about it and dont understand what qualifies you to be a part of the scheme.Andrew

What do you have to do to get your ACL?  Is there a qualification to get first or do you just pay a registration/licence fee?Andrew

Thanks For that Matt.I downloaded the demonstration version and tried to use that but most of the fields are blocked.  It makes it hard to assess.  Has anyone else used this software or something similar?Andrew

Quick update.  Julia Gillard has already held out an olive branch to the mining industry. She has put mining advertising on hold so she seems to have a new attitude to the mining tax.Andrew

Well we officially have a new PM.  I wonder whether Julia Gillard will shift from the hard line Kevin Rudd took with his Super Tax (or the backflip on the TES for that matter).  I know Gillard made a lot of decision behind the scenes but I think she was pretty quiet on this one – at least in public.  A sidelight on Lateline last night was AWU Na…[Read more]

RnP wrote:
It's all about figures.  Make sure you have a good piece of software that lets you enter all the relevant data.  Then just let the $$$ decide which investment is best for you.  You should be taking all emotion out of your decisions and focusing solely on the profits.  As I'm sure you know, the other thing to remember is that you ca…[Read more]

Thanks Dan,It doesn't really bother me which one we go for if the benefits or drawbacks are pretty much the same for each option.  The only obvious thing for me is if we went for a house there may be develpment potential that's not available with units.  However, develpopment's not our desired strategy at the moment.  I appreciate the point you ma…[Read more]

Great work, hopefully the 21 days will work out in your favour.  I did the same sort of development in Dandenong council with no objections but had a rejection by council. Thankfully we won at VCAT.  Let us all know when its through Andrew

Hi Rob,I have to say I find it extremely useful here and enjoy the openess of newbies to ask general or even basic questions.  It gives me a context, a broad outline, and a fair warning on potential issues that would be 'sprung' on me at an accountants office.  Anyway, I reckon you are making a great enquiry Rob.  As for point 2 there is a 6 ye…[Read more]

Fair call duckster.  You're right, being an election year we'll have to wait see.  But the coalition also needs bush votes so they can't push against it too much I wouldn't have thought.I think the coalition will at least keep parts of the blueprint then improve/extend it.  For example I can't see them reversing the $25 million committment to &#…[Read more]

Hi,I think people are rightly pointing out that Steve's book 0-130 property's in 3.5 years is an older book.  I read this when it was released and it was great at the time (some people still recommend it as something to read).  However, he recently published the 'update' book – From 0 to 260+ Properties in 7 Years.  All the reports I have read sa…[Read more]

Hi Duckster,I have a couple of questions on depreciation and CGT (please excuste the ignorance).  I have read many time that claiming depreciation will shift the cost base of a property.  Does that backdate to the time you have been claiming depreciation eg. up to 40 years.  Or is there a time limit on how much the cost base shifts eg. 5 ye…[Read more]

Hi SF, love the question.I have two things I wish I coulds have advised myself. 1) take more calculated risks. 2) manage your spending better.  I suppose that means it would be the advice I would also give someone else.Andrew

Just want to say thanks again guys!  This is really good food for thought as I will be restructuring my loans in the next couple of months.  Andrew

Hi all,I was researching buying property with a SMSF today and came across an API article posted on a financial website. http://www.gatherumgoss.com/wp-content/uploads/2010/01/070-071-Super.pdf. For me it was a good introduction to the concept and the process involved.  It also highlighted some pitfalls.Regards,Andrew

Thanks to everyone for their contributions.  It is much appreciated.  Is the CBA's $500 minimum withdraw for their offset account the only limitation compared to a normal transaction account?Andrew

Hi Shangrila,Sorry to hear about your troubles.  I can't tell you about the builders role but I can tell you a bit about council.  I have just completed a value add IP and it ran 15 months over due to council.   We did the whole sit down with the councils town planners, took their advice 100% (even though it already complied with all the pla…[Read more]