Forum Replies Created
Yep it is normally that simple, just go open the account and let them know what account to attach it to.
Bankwest normally charge for an offset account but saying that it is normally a couple of dollars a month
Hi Nick,
I agree with Marty but the risk your willing to take is up to you. If you are never going to use your current PPOR as an ip, it may be worth paying the 35k in savings you have off your PPOR and then increasing the LOC for your IP purchase. You may then be able to claim the interest on the complete amount?
Glen
Need to add a WOW factor to the place, preferably something that will appeal to your target market and then for the best outcome have them bid at auction.
Normally the kitchen I find the best place to add this but it all depends on the current set up. Your target market shouldn't be too hard to work out, think about what sort of person is best suited to living in that area and go from there.
glen
Hi Rob and Sue,
Depends why the son can't get a loan just yet. Is there a possibility of going guarantor on the loanor doing a family pledge to help your son? That way you wouldn't have to worry to much re CGT and rental income etc. It would affect your servicability if you went to purchase another property but doesn't sound like that is a problem at the moment
Glen
Why don't you go to another lender if you are having hassles with Adelaide Bank? Sounds suss if you are going direct through Adelaide Bank and is a full doc loan.
Did your friends buy with someone else or by themselves. To get the FHOG at least one applicant has to be an Australian Citizen or a permenant resident.
When you go to purchase are you a co-applicant? If so, if the other applicant is a citizen or has PR then you may be able to get the FHOG depending on othjer criteria.
Glen
Most of the mining towns are positive however think its a little late for the capital gains on those areas.
Huntingdale seems close to being positive / neutral and there are probably a few other areas if you have a good look around
Glen
Have you looked into Keystart? Their rates are higher now than what they were 12 months ago but as long as you don't own any other property, their criteria and deposit required is different to your normal lender. Also, no LMI as it is run by the state government.
Heard they have changed a little in the last couple of months but have a look and see how you go
Glen
Think you will find that Choicelend is actually a little higher than the 6.55% your broker has told you during the construction phase. Just something else you probably need to take note of.
Hi Dazz,
Using it as a holiday home and you living in it is possible but would get a little complex in a few areas. One is GCT, unsure if you can apply the 6 year rule or not. You would have to split everything 2/3 for tax etc and then because of your high income any money you do earn would be hit at your tax return rate, which is high.
You could look at purchasing in a trust with a company as trustee and you pay your trustee rent, that could work but would like to think about that a little more. You would still be paying a high tax rate though.
How much money per year do you think you would be making while u are at work? Depending on the info you might be better renting and having a holiday home which can be rented out full time, more maney, less tax etc
Glen
Hi Danielrusty,
How are you? No idea on the buyers agents but am about to start on the same journey as you in regards to buying, renavating and selling properties in perth. Work FIFO also, 7 on 7 off.
Let us know how you go with the renos and finding a property, have a RE friend who does this for herself and is on the lookout for me.
glen
Hi Pollynz,
Sounds like you have some equity in which you might be able to access but would need to have a closer look. Lots of things to consider but if I am reading your question correctly, you shouldn't pay off your investment loan quickly. In a matter of fact you should get an I/O loan for your investment and worry about your home loan if you are wanting to pay off a loan at all.
Living in Canning Vale you have picked a great place to build….
You can also fix a certain percentage of your loan, gives you more options if you are going to fix
Hi Ernie,
Not looking for an investment company or anything however I am curious the costs they have told you? Is it free? Do you have to have a membership with them?
Q1, how about yourself? how much does it cost for you?
Hi Brad,
Another factor you might need to look at is the deposit and costs. With stamp duty and the minimum of 5% deposit, you would have to have around the $21k mark to even look at a loan. Noting that with the defaults you mention, you will probably need at least 105 deposit so looking around $22k plus the costs.
Glen
Hi Max,
Keep doing the research and you will find the right investment property for you in the right area. I have been looking down kwinana way recently as there seems a few good buys down there.
Glen
Hi dotkangaroo,
it would all depend on your rental income from your other two houses? Are they still mortgaged as well? Would need a fair bit more information.
May very well be possible but depends on any other outgoings you have also
The only straight up +ve geared properties I have been able to find in Perth are the inner city apartments. Lenders have real problems using these as securieties and so maybe isn't the palce to go just yet.
Land and construct is starting to become more popular at the moment as the builders prices are pretty good at the moment (well for Perth anyway). The problem with building in Perth is the time it takes to construct.
Glen
annawhi
probably but to me they will only go with negative gearing propeties initially. Does limit your investment.
Spend some time reading this forum and other material and you will have the same idea as these guys. Either way, they shouldn't charge you anything for their services, they should get paid from the lenders and the developers.
The more information you gain the better the idea in how, what where you would like to invest
Hi Clubhonda
Yes, most of the big banks offer at least 10 years. Think the CBA are the only ones doing 15 years at the moment thou.
