Forum Replies Created
Hi Steve,
Can I come too? I really, really want to go to the Sydney launch. And can you book in my hubby Scott too? We’ve both been trying to book it online since we received your e-mail yesterday but we’re both getting page unavailable.
Thanks,
LucyThanks,
LuckyoneWell, I’m surprised by all this campaining on telly about private schools getting more govt funding than public schools. I thought that private schools were called that because they had nothing to do with the Government. I thought they were self funded (which is why you have to pay to go there) or at worst the churches behind them funded the schools. Pretty pissed off to see that tax payer dollars go towards these schools. They should be totally self funded in my opinion.
Thanks,
LuckyoneHi Teresa,
If you want to find out approximately how much mortgage insurance go and have a look at http://www.yourmortgage.com.au/calculators. It will give you a pretty good indication of how much it will cost you.Thanks,
LuckyoneI believe that the results of the MAP program are going to be in Steve’s new book.
Thanks,
LuckyoneHi Gatsby,
I’m really surprised that they could get away with that! My husband and I used a deposit bond for our first property as we needed to sell a couple of things to get the deposit together. We only got a deposit bond for 6 months as that was when the unit was meant to be completed. It ended up actually taking a full year. When it was due to expire, we asked our bank if we needed to get another one, they told us that we didn’t as it was actually valid unless the seller requested that you pay the deposit and give you notice of that intention.We ended up not paying anything (except the $1000 holding deposit) until settlement. We had no problems, never got questioned. Did exactly the same thing with our second property too.
Thanks,
LuckyoneHi Tass,
I would definitely advise combining the mortgages into one. This will make tax time very difficult for you. You will need to work out every year which portion of the interest applies to your ppor and which applies to the ip. Believe me it’s a pain in the bum!
Also, it would probably end up making you be able to borrow less not more as normally if you have a ppor as well as an ip, you would make the ip interest only as all of the interest on the ip is tax deductible whereas it is not on the ppor.
Further, if you are borrowing a fair sum of money overall, you should be able to qualify for a professional package with most of the big banks which will give you a lower interest rate on all of your loans + you can have as many loans as you want (some that I’ve seen do have a limit of 10 loans) under the one package for around $300 per year which you can charge to your IP to make it tax deductible.
Hope this helps!Thanks,
LuckyoneThanks George, I’ll check all that out.
Thanks,
LuckyoneHave you tried going for a low-doc loan. They seem to not care as much about where your income is from.
Thanks,
LuckyoneThat’s a good idea too. Thanks Simon! I just want to be able to go in with a plan of what to say.
Thanks,
LuckyoneCool, thanks for that. I will look into threatening to leave, might have to get a valuation done first to make sure we won’t have to pay mortgage insurance though.
Thanks for all your advice.
Thanks,
LuckyoneIs it really worth close to $5,000? Just seems an awful lot of money. What do they actually do for you?
Thanks,
LuckyoneIs it really worth close to $5,000? Just seems an awful lot of money. What do they actually do for you?
Thanks,
LuckyoneHey Jo,
Didn’t you have any landlord’s insurance at all?
LuckyoneThanks,
LuckyoneAren’t you worried that Rosebery is a small mining town which relies heavily on employment by the mine for economic stability?
Thanks,
LuckyoneIf you can afford to pay P&I it’s definitely a better way to go as you are constantly building up equity in your property. However, if you have a PPOR debt as well, you may not want to pay P&I on your investment property as the interest on your PPOR is not tax deductible. You might be better paying extra money off your PPOR instead.
Thanks,
LuckyoneHi Helen,
Somersoft is very good value. They’re are a lot more topics than PI and more people seem to go to that one, but I don’t particularly like the way it’s set out. Definitely worth checking out though.Haven’t been to John Burley’s discussion groups, so I can’t comment on that one.
Thanks,
LuckyoneWeston,
Maybe you should have a look at a place more like http://www.skyauction.com where you can bid for hotels in other countries. It’s all in $US I believe, but it sounds good. There was a 10 night cruise the other day on it that only had 2 hours left to go that was at $800 at the time, and that was for two people. I don’t know how good this site is as I haven’t bought any accommodation off them, but if I was going overseas I’d probably buy a few nights to test them out.
Thanks.Thanks,
LuckyoneHi,
I don’t agree with the other’s definition of a townhouse. I currently live in (and own) a place classed as a townhouse. It is only a single storey place with no adjoining walls. The only thing that is true to what has already been said is that it does have a small block of land and we do pay body corporate fees. I think it is basically classed as a townhouse as not all of the houses have street frontages.
Thanks,
LuckyoneThanks,
LuckyoneAs far as I know you can’t claim on an IP unless it is at market rates. This is especially prevalent if you are renting to relative. The tax office looks very harshly on this.
Thanks,
LuckyoneExactly Kay, that’s why I was so upset. I didn’t understand why my parents wouldn’t lend me the money when I had always had a good track of saving up for things that I wanted to buy. Unfortunately, I couldn’t show the bank what I had saved as my records were too old by the time I went to apply for the loan. They wanted records of the past 6 months of savings, I didn’t have any at that time as I had lent the money to a friend in need. Bank’s don’t really understand that.
Thanks,
Luckyone
