Mr Fair Go,Fantastic adviceGood on ya!

An offset account can be really useful in saving interest and having quick access to your savings. However it appears that usually if you have a mortgage offset facility your interest rate is higher, so you need a certain amount of cash in your offset account to compensate for the higher interest rate. Some people find they are financially worse…[Read more]

Hi Elka,The property is not formally advertised as yet, and it looks like it may never need to be advertised. It is a residential property.As far as the details are concerned, I'll send you a personal message because I have a lot of info.CheersChris

Hi Scott,There is no catch. The property is in a high growth area. The building is structurally sound, we have the building reports and pest reports to satisfy this. Council has been through the property to ensure that all regulations are abided by.We do use the equity in the property as leverage for other property acquisitions.Let me know if you…[Read more]

Thanks everyone for your interest and advicecheersChris

I checked with a local solicitor and in SA there is only stamp duty payable on the deposit when onselling the contract. So a small deposit will only attract a small amount of stamp duty, and I was going to absorb this stamp duty which would cost around $50 only.Thanks for your advice Yossarian, I did have a plan B and plan C in place. For the…[Read more]

Thanks for the great advice Hutch.That was really helpful.CheersChris

Thanks Jase and Flic,Taxes sure are annoying aren't they. I thought that maybe if I sign the contract with my name "and/or nominee(s)" then the next person could be my nominee. I will take your advice and ask an expert.CheersChris