I sold my Qld IP to my tenant. I just had to tell the solicitor how much, tenants name and address (dah) and his solicitors details.
He prepared the REIQ contract which tenant signed and handed over a deposit cheque made out to my solicitors trust account. Job done.

I agree with SS2306. Refinance while you both are working – this will give you access to your capital growth (read cash) to: buy the car, help make up for the loss of income/xtra living expenses, unexpected family expenses, contributions toward monthly PPoR repayments, pay for monthly interest bill for above.

You could do the above and keep the…[Read more]

Shwing – the rear has the best view and is where I want to end up.
What if I built them both at the same time?
or what if I continue renting, build both, sell 1 then move into the other.

Total 3 prop = 65% lvr

A bit spooked. Still you only make a loss if you sell. Or, you could buy todays blue chips like Ansett and T2. Oh, they’re gone. At least the bricks & mortar are still standing on my land.
Still, I had already booked a RE agent coming today to value & rent appraise my PPOR.
I was under the impression things may start heading up next year.
Funny,…[Read more]

Thanks for your replies.
Subject area is Gold Coast, and Cabarita NSW.

I like the idea of buying T$ for cash at a discount. How would you go about that – direct from the Trade Exchange or from trade members?

You mean bUckPUckers

Hi Cheryllee,
I’m going through the same process myself.

In my situation, and probably the majority of investors, is to keep all your loans separate – dont cross-collateralize the loans.
IP loans secured against the IP itself should be minimalist, no-frills, basic, low cost etc to keep your costs down.
Interest Only – keeps the payment amounts…[Read more]

To The Mortgage Advisor or other informed contributors:
Originally posted by The Mortgage Adviser:
I would also talk to an accountant about buying your PPOR in a company or trust name so all your debt is deductible.

Let me know if you need further info.

Can you give me a brief overview.
My impression was that the Fed Govt was going to stop this…[Read more]

Originally posted by Mobile Mortgage:
As already mentioned an offset linked to the non-deductible portion of the split loan will give you the flexibility to pay down or preserve the debt,
And for those who still prefer to use an LOC, the above scenario would still be applicable if One portion of the split was an LOC

OK, I think I get it.
The…[Read more]

My understanding now is:
LOC are good for IP loan deposits & IP expenses secured against PPOR &/or Loan with offset on PPOR in case coverted to IP later.
Loans on IP’s absolute basic no frills lowest cost I/O. (except honeymoons)

Can a loan on PPOR be LOC with a split with an offset attached?

I bought a copy a few years back when it first appeared on ACA.
I began to input my data and soon found that it was not so good for self-employed.
If you have a basic job with regular pay and expenses and your young just starting out with few expenses, it would be great.

Take this example. Just starting out, bought a house, filled it up with…[Read more]

Originally posted by The Mortgage Adviser:
As you can see, I am not a fan of using a LOC when there is non-deductible debt in the loan portfolio.

Even with LOC splits?

Would the offset be setup with the personal portion, and the deductible portion have no offset?
Where would you draw from to pay deductible expenses?

I think I need a basic…[Read more]

I aggree with surreyhughes. What was the reason for buying and paying off the house for in the first place – to leave it to the kids?
Kids would be better off if they were given knowledge in their early years, as opposed to an assest in their later years.

Remember, if you are going to borrow money for a trip, you could also borrow money to pay…[Read more]

Sounds like a double whammy. Future Gain from the shares and taking total control of the property.
Put the shares away in the cupboard until the property increases 20% and then release the shares as security.

When viewing project homes of various building companies, one particular display home salesman introduced us to the builders architect. His job was to modify the project home floorplans to suit the clients needs. This particular architect took us in his car to our new block where he got a feel for the situation including sun, neighbouring houses…[Read more]