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kat13
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@kat13
Join Date: 2012
Post Count: 44
December 27, 2013 - 9:38 pm
My 2014 goals are;
1. Lose 5 kg's
2. Survive a fulltime year of uni with 3 kids
3. Continue to research and educate myself on property investing
4. Put a plan onto paper!
kat13
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@kat13
Join Date: 2012
Post Count: 44
June 13, 2013 - 2:53 am
Interesting to see, I am in Mulgrave VIC.
An option we were seriously considering was to change our PPOR into IP and purchase another…..we seriously need to upgrade but I feel the cost of rebuilding is worth us pursuing instead. But that just means a delay in buying an investment property
kat13
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@kat13
Join Date: 2012
Post Count: 44
February 6, 2013 - 8:01 am
Nope no cash at the moment…..and I am off work for maternity leave. My plan is to finish uni – June 2015 and then will be at work fulltime so can service any extra's in loans etc…hence why I want to do this at that time and not now.
kat13
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@kat13
Join Date: 2012
Post Count: 44
February 6, 2013 - 5:21 am
Yep Terry it has its own separate account number.
Either way – it all still sounds do-able to this point. I am just unsure about using the 90K as a deposit for a PPOR – that would then mean we are lending 100% to buy doesn't it?
kat13
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@kat13
Join Date: 2012
Post Count: 44
February 6, 2013 - 12:48 am
Hey Jamie, we have no other debt other than the PPOR and the 90K which is sitting back into loan. I was thinking to create another offset for the new PPOR so have two loans and two offset accounts…one for new PPOR and one for the IP?
Terry thanks for your comment, was hoping you'd post
Not sure if this even makes a difference – the 90K is back into loan and is separate from the 280K and IO payments will run for another 4 years. But I was thinking because of what happened and it having been mixed would I be better off just using that 90K as a deposit for a new PPOR which we'll need anyway as I figured I won't be able to claim anything on that anyway???
But based on what you said – because they got mixed up originally if I turned PPOR into IP, I'd only be able to claim 75% of the IP expenses?? Hopefully I got that right!
kat13
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@kat13
Join Date: 2012
Post Count: 44
February 5, 2013 - 3:59 am
Hey Paul, thanks heaps for your reply.
Ok so basically extra income from rent should be placed in an offset, and I assume I could use this for any repairs/maintenance/insurances etc as needed for the IP.
And then as this offset account grows, obviously the interest payments would reduce somewhat, giving the property to appreciate in capital so I can use equity again to purchase another investment?
Am I on the right track??
kat13
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@kat13
Join Date: 2012
Post Count: 44
November 28, 2012 - 11:55 am
Too funny, but so gross thinking about it
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 27, 2012 - 2:47 am
Aaahh ok then, time to rethink a few things before I go ahead with the rest of this.
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 27, 2012 - 2:03 am
I wasn't that alarmed because we really didn't even think about claiming the interest as we are using part of that for personal use. A portion of that was only going to be used as a deposit towards the investment.
So for future investments, what should I be doing? Is it best to go for the whole loan altogether where equity can contribute but I don't actually pull that out as cash? (hope I am making sense)
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 27, 2012 - 1:38 am
We pulled out the equity on our house – 90K which got paid into cash into our offset account until we were ready to get something…but we are also using 30K for personal improvements which is maybe why it was done that way????
We are currently waiting on preapproval for the rest (not sure how much we can get – but broker indicated up to 400K all up).
What should we be doing? What sort of account do I need to stash it in?
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 26, 2012 - 10:13 pm
PLC – Its sitting in my offset account at the moment, linked to my PPOR loan – hoping that's the best option.
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 19, 2012 - 11:25 am
Yeah I wasn't too keen on high rise apartment stuff, the one I have found is on a unit, ground dwelling. The only thing is, its unit number 3 of 6 on the block and it looks as though each unit is divided by a wall, so its a common wall. and I am not a fan of having the laundry in the bathroom – but that's my personal distaste.
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 19, 2012 - 10:52 am
Great, so at least we are on the right track.. We have pulled out our equity in cash, so just have to find that awesome IP now.
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 19, 2012 - 10:37 am
There will be a crack down in rental properties over the next decade or so, I am studying to become an environmental health officer and we are researching this currently.
If you take a look at food premises regulations, guarantee some of those items will be similar to future implementations, ie leaking gas appliances, ventilation of property, stoves having to be attached to wall etc…if you have an older property might also be worth installing a tempering valve for water as this is currently regulated in new buildings.
kat13
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@kat13
Join Date: 2012
Post Count: 44
October 9, 2012 - 11:21 pm
Thanks for all the info guys, will look into all of that. Yeah I thought I should shop around first because it didn't sound too great paying $1200 a year….that's just what my accountant would charge me…god knows for what.
Esuper sounds good as I'd like to have my tax returns etc done in the same place too.
kat13
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@kat13
Join Date: 2012
Post Count: 44
June 15, 2012 - 12:57 pm
So pay extra in my current mortgage for my house I am living in and roll over the investment into another period of IO? Makes sense in a way, I was very confused about the benefits of doing IO as it seems the difference is really small between paying IO and P&I so I thought it might be better to pay P&I on the investment, that way by the time I retire it should be paid off and just be straight income.
kat13
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@kat13
Join Date: 2012
Post Count: 44
May 24, 2012 - 10:20 am
Not sure why that happened, my account seems to be set to allow emails?? Anyhow I’ll shoot through an email to you tomorrow.
kat13
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@kat13
Join Date: 2012
Post Count: 44
May 21, 2012 - 3:44 am
Interested in the spreadsheets streamlineinvesting – are you able to message me your email or something?
kat13
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@kat13
Join Date: 2012
Post Count: 44
May 20, 2012 - 11:33 am
I checked out some listings for Horsham as they seem to have some good returns…..but I am a little worried about the listings I have seen, they have the following listed;
This property has been inspected for white ants by Bug ‘R’ Off Pest Busters, an independent qualified pest control company using their termite detection sniffer dog, which gives a 98% strike rate at locating termites as opposed to human pest control which at best runs a 70% success rate.
Does this mean there is an issue with this sort of thing???
kat13
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@kat13
Join Date: 2012
Post Count: 44
May 20, 2012 - 11:20 am
lbluedento – sounds like you may have heard some negative things about Port Augusta???
My uncle has invested there and visits regularly – but I am cautious about this as he is a property manager so I don’t want to be unnecessarily swayed.