No unfortunately im a herald sun person myself. Would be good to have a look though as long as its not too much trouble.

Hey thanks for the reply. If all properties were sold off though, who is the in charge of common ares? Is one particular dwelling made responsible through a contract of some sort? I assume you cant still be liable to maintain common areas if you’ve sold off everything.

We are both in fairly secure jobs particularly me partner who works for the government. If i were to be out of a job it would only be for a short time.

EDIT:

I dont see how i would avoid LMI to be honest. If the consenses it to have the loan interest only, and not put extra funds into it, how would i be able to gain enough equity to avoid LMI…[Read more]

80% of 75,000=
$60,000

Please excuse my ignorance but what is the $9,000 you posted above?

Hmm maybe i have misunderstood how equity works.
My initial thinking was that Equity: 330,000-255,000
=$75,000

Are you telling me that in actual fact its only $9000?

I was hoping to buy another investment in the coming months. Is this not as attainable as i thought it would be?

Thanks again for the help terryw. You seem to be one of the ‘go to…[Read more]

What would happen to repayments when you open loan B? Would it increase the repaments on loan A or Would it be structured as its own loan With its own repayments?

The thing with my current investment loan is i have equity in the form of the value of the asset, but in terms of the actual loan it is currently at 255,000 whereas the original loan…[Read more]

Hey guys i have been scoping through other posts gaining knowledge etc and i have come across posts saying not to X-collaterise loans etc.
Im guessing to maximise tax benifits. My question is, is my circumstances (see top) if i wanted to use the equity in my 1st IP as deposit for the 2nd IP, how do i physically go about obtaining it? Is it…[Read more]

I already have a 100% offset account attached to the which all our savings go into so i assume i will be able to keep it with IO.
Is it the general consensus that Money in the offset account should not be used directly to buy other IP’s, and instead use the equity of the current ones as deposit?
Would it be a good idea to keep loading up the…[Read more]

I just rang ANZ and they said i will have to go into a branch to change it to interest only and it will be something like $200. I will make an appoinment ASAP but does this sound accurate?
In regards to the investment aspect of my post, any pointers?

-John

I assume you mean in regards to the P+I thing. Yeh ill give them a call tomorrow i think.
Thanks.