Not a broken record at all Richard!I need to hear it! I guess I just jumped into a loan as soon as I could afford to, without research.  I will have to re finance everything to get things a little more under control. My partner has the local loan and I have the messed up one!! hehe But we would like to merge our banking to make it a little ea…[Read more]

Hahaha! They are painful…. I still get so angry every time I think of it! I have never had a problem with any business like that b4. And getting passed around on the phone from Phiippines to Australia, repeating yourself over and over again, sitting on the phone for hours on end.. and PAYING for it!!! grgrrrrrrrr!! heheheThere is a lot to learn…[Read more]

Ahh that makes sense JacM. Sorry I really have a lot to learn in this field… I guess that also makes it easy to access the funds in the future also.Oh, and I hear ya about telstra and moving house… We moved house last September and we have had to call after receiving every bill for 5 months straight for them to charge us the correct amount for…[Read more]

Yes, I think I will look at changing over asap. So, it is possible to make extra payments on the interest only loans? I am yet to claim anything on the Qld prop yet, I will know how much I am really negatively gearing at the end of the financial year. But doing a quick calculation on my possible claims, I should be able to reduce my taxable income…[Read more]

Thanks for the input guys.I will talk to the accountant regarding my property claims, and fingers crossed I can! Richard:Yes you are correct that it is a Principal and Interest loan at present, and to be honest, this will be the first year I will be able to claim on it, so I am hoping that I can get a fair bit of the $200 per week back. The main…[Read more]

Hello Magoo1Really?The residence we live in currently is actually done as an interest only at present. We did claim tax on it last year when it was rented out. Our place in QLD was bought as a primary place of residence, but after living in the property for 2 years, we have moved and started to rent it out. So, you are saying that I won't be able…[Read more]

Dont do it!!!! I have done the same thing. I have a place up in far nth queensland  that I lived in for 2 years and the strata and rates kept on going up… and they even decided to thrown in an extra payment of $500 because they underestimated some painting costs…. You really seem to have no control over it…. My rates are 2k and my strata is…[Read more]

Sorry… I am out of pocket $200 a week for the IP!! hehehe makes me cringe!