Geez – less and less choice for the consumer!!Stumpcam's comments have got me thinking again. Hypothetically – you secure a loan on a property at 80% lend, time goes on or you add value and get the property revalued at a higher value and open a line of credit for that amount , ideally keeping the first property still at an 80% lend. If #1 is a…[Read more]

Hi StumpcamWE had a pro package LOC with StG for our previous PPoR and had a subaccount for the investment block costs which was secured by the PPoR. When we sold the PPoR and moved interstate the LOC converted to a Complete freedom account  which meant we didn't have to change direct debits of salaries etc. We have been renting at present and s…[Read more]

Thanks for that info guys. I am aware of not Cross collateralising and was intending on going to a different lender for the next IP if StG wouldn't allow standalone. I'll have a look at Westpac to see what they offer.RegardsLisa J

Thanks Richard, Alistair, Stumpcam and Terry for your comments – it has clarified things for me as to how we should structure our next step.I have gone back to St George's info on their "Advantage" package and they state you can structure it with Standard variable loan with credit card, a "Complete Freedom" transaction account with "Mortgage…[Read more]

Thanks RichardYeah – all the books say – find a mentor – someone who has done what you want to do – but it seems there are very few who want to help out for purely philanthropic reasons! Apart from those on Propertyinvesting .com, of course!!!Any recommendations as to lenders to look at that have fully transactional offsets?regardsLisa J

Hi ObieThanks very much for those two links – I had picked up Barry Pickering's name from one of the other forums but could not find his contact details. Would you know of where I could get a longer term view of the Darwin market – cap growth rates, rental returns etc  for last 10-20 years?I have to agree with you that there are a lot of o…[Read more]

Thanks propertunity,I had forgotten to factor in the stamp duty and agent's fees on purchase and sale of a PPOR so now it seems like our original idea of renting is the better bet. It just shows how you can get sidetracked by "knowledgable" others when you are wanting to swim against the tide of popular opinion!RegardsLJ

Hi shanematt,We are looking into this right now. You really need to crunch the numbers on both scenarios and for the amount of time you will be looking at. I did the numbers on our situation and renting has come out in front for us even though our rent is expensive. Our situation is – 2-5 year time frame then moving away, area we are in is cu…[Read more]

HiYou might want to check with your accountant – depends on what you want to claim in deductions – if you charge a substantially lower than market rent to your family member Tax dept may not allow deductions. I think they allow lower if you have a good argument – say 9% lower because you're saving Management fees. A good book to read on subject is…[Read more]

Hi I understand your frustration when you have finally got the courage up to move forward and take action and then things don't happen fast enough…. I would take up Richard's advice and check the vendor's reasons for needing settlement pre June 30 – if it is a CGT need and they're an investor  then he/she's already covered by the contract date…[Read more]