I find CHEMDRY is more expensive but gives a much better result.  They use a different process.Cheers,

Wow, Thats impressive.Well done mate – glad you didn't die.

ANZ Breakfree is a good product and there are similar products with other lenders.Definately use a good broker as he will know each lender and also how they are travelling at that time with approvals and processing times.  Sometimes banks fall behind others causing delays.Cheers,

How much lazy equity do you have?One strategy a number of my contacts use is to get their lazy equity working to gear into an income fund which covers the negative gearing shortfall.This is not for beginners but works well in the right hands.  I can send you some links if interested – just email.  I am not selling anything here nor making any m…[Read more]

I believe your accountant is right.

Have you asked for a copy of your credit report?  This is your first step.I reckon that you will be able to do something if you use a decent broker.  I doubt going to NZ will help much as I believe Aus and NZ share credit info now – but I may be wrong??Cheers,

Sounds like a nightmare to me.Putting up with other shareholders, keeping all informed and trying to get decisions made – then split the profit.Who decides when to get out?  What happens when one gets married and wants to buy a home?  How does he get out?I reckon you are much better off buying alone.None of you will be able to use the property t…[Read more]

Take your time mate, no need to run before you walk, the property market isn't booming at the moment so you have time to do things properly.Doing things with a stranger doesn't speed up the process, it can even slow you down as he will want his piece of your pie at every step.A better idea is to do something with family where they can trust you…[Read more]

Are you planning on building to sell or to rent out?Speaking to agents about the end value of units vs houses and also the expected rental should help you decide.  You also need some idea of costs.Valley Homes has some terrific duplex designs and they are in our area.Cheers,

That means he now has a fully tax deductible debt of $330K (the new mortgageis in his name).You now have a lump sum for the new PPOR.If you didn't change anything you would have to borrow much more for the new home and none of this debt will be tax deductible.Is that clearer?

I would consider "selling" the property to your husband.   Sell it for the full valuation price and he should borrow enough to pay you the full amount plus all of the expenses associated with the transfer.He will now have a fully deductible loan for the whole amount.You will have $140 000 that you can use for the new home.I would prefer to see y…[Read more]

I would consider buying with a 20% deposit and taking an IO loan.Save all you can in an offset account.As you buy further investments use 100% IO loans and continue to save in the offset.If you need to use offset cash then transfer it into the home loan and then redraw it via a new LOC.This will ensure you have the most tax effective and future…[Read more]

You don't need to refinance just because you are now renting your IP.Selling into a trust does work but it adds a layer of complexity that you may not want.  The same can often be achieved by selling to a spouse or selling a half share to a spouse.I suspect you might be best sitting down with a broker and discuss your options – but be careful…[Read more]

Use all your money for your PPOR if you intend living in it for the long term, then borrow for IPs.If you decide to buy a PPOR for a short term then it doesn't really matter.If you buy a PPOR with the aim of it becoming an IP later then use minimal amount of your own cash but keep the remainder in an offset account.Hope this helps

Why do you want to buy it?What goals are you trying to achieve by doing so?

Well you need to either increase your income or decrease your expenses.Have you done the sum on refinancing even after factoring in the break costs?  It is probably not worth it but good to do the exercise.Have you got your loan on interest only?  This will reduce the outgoings until things are more comfy.Have you any ways to increase your i…[Read more]

A lot depends on your current loan size.But you can probably access 80% of the growth in a seoerate LOC which you can use for investing.  This may be enough to help with a deposit on a similar priced property.If you choose the right lender they may even value it higher than you suggest.  Always estimate it a little higher on the application.  No…[Read more]

An offer is not binding.  A contract is although you can exercise your cooling off option.You need to understand this a little more before you get to a stage of making multiple offers.  I suspect that if you are making multiple offers you have either stumbled onto something really special or you are not being discriminating enough in your selection.Cheers,

Perhaps write to your local member?  Or speak to the Mayor?  Or General Manager at the council.No point talking to some low level clerk with an inflated sense of his own importance – talk to a decision maker.Ciao,