Julian, I agree with Bear.

In fact, there’s a thing that Dolf de Roos does at his seminars, where he holds up a $100 note says, ‘Who will give me $50 for this?’. People put up their hands saying ‘I will’ (although not all did), and eventually one guy gets up and runs down the front, gives dolf the $50, and gets the $100.

When asked why others did not do the same, some of the replies were ‘It sounded too good to be true!’ Or ‘I thought you were having a lend’.

I think you’ve just got to keep at it, and if it sounds too good, look a little closer, and if it is too good – GRAB IT!

Cheers
Mel

I went to private schools – Catholic ones, so they weren’t quite as expensive as some!!

As for which is better, I think for a bright kid who will do the work no matter what, either is good, but for one who needs some gentle ‘prodding’ MOST (definitely not all, and conversely, some public schools also) private schools provide that bit extra discipline required for these kids.

Cheers
Mel

robo

It depends on whether or not you are happy in your house, or desperately want a different one to live in.

I would stay as you are (if you are happy) and concentrate on buying IPs.

If you do think you will move in the future and rent out your current house, I would suggest you only pay the minimum off your loan, but put all money into an offset account. This way, should you move, you can then take that extra money to use in the purchase of your new PPOR, and the other debt becomes tax deductible.

Cheers
Mel

Rugbyfan, from what I’ve seen/heard I don’t think Steve is big on selling places.

I think (stats from sometime in the last three months) Steve told Today Tonight/ACA/some current affairs show that he now has 160 properties, 40 of which are wrapped.

Cheers
Mel

Muppet, so what you’re really saying is:

Judderbars are speedhumps and
Cherios are ‘little boys’

It’d certainly be easier if you guys spoke Australian like the rest of us[]. Oh that’s right, we decided not to have you as a state didn’t we.[]

Cheers
Mel

Hey Terry, that’s what I meant when I said using the same bank, cos I couldn’t think of another way to phrase it.[]

Cheers
Mel

Leo, it’s a matter of refinancing, either with the same bank, or a different bank, depending on how you want to structure it, and who offers you the best deal.

Even if you have an LOC as you mentioned, it is at a set level when you set it up. To access more equity, you still have to go to the bank to refinance, and increase the limits.

Also, you’ll find that most banks have a level that they’ll lend to before they get uncomfortable. You might want to have a couple of different banks on the go, so your options are better.

Cheers
Mel

SIS, I used tpg for dial up access, and in fact still have that account so I have my email address. It’s 9.99 a month, with an 80Mb download limit.

We ‘inherited’ Telstra broadband, so didn’t look into TPGs, but I have been told by somebody else who uses their broadband/cable/ADSL (don’t know which, or if they offer more than one) that it is excellent.

Cheers
Mel

I would suggest to ask an accountant.

My opinion is that you will have to pay CGT – our government wouldn’t let anybody get away with that. As for the rates, I wouldn’t know, hence the accountant advice.

Cheers
Mel

Tony, if you are at all thinking of renting out the house, and buying another to live in, I would suggest that instead of paying as much as you can off the loan, make minimum repayments, and have an offset account for all the extra you would put in.

This way, if you do decide to rent it and buy another one, you use the money in the offset account to buy your new PPOR, and the loan on the current house becomes an IP.

Remember, if you pay off the current loan, and then reborrow to buy your new PPOR, it will not be tax deductible, but by doing it the way I outlined, the entire loan (that remains on the house) will become tax deductible.

Cheers
Mel