Richard
       Thanks for the update on NAB, wished I had known that previously but what is life without a few learning curves. I know we are sort of stuck between a rock and a hard place on this transaction but I am going to try and make it better for the next one.

Terry
    I know that banks ask for guarantees as a standard practice however I was gullible in believing that limited recourse borrowing is just that and was quite surprised when they said that they would/could attack personal assets if default happened and they couldn't recover the money they were owed with the security property.
    We were…[Read more]

Hi Richard
    The loan is with NAB

     Hi Guys,
 Thank you very much for taking the time to comment on the above topic. Any advice (good or bad) received is gold in my eyes to help make decisions. I feel out of my depths on here sometimes, however once I take that 1st step and buy a property I will hopefully be on the way to financial freedom. I am by no means greedy and don't…[Read more]

Thanks guys 
    There are some good tips there like having a definite time frame and giving the RE agent the verbal agreement of the next sale of the property. Also I agree callmeles we are definately in it for ourselves and who really gives a hoot what others think..Amen to that…lol
    Cheers Troy

Thanks Richard
        I am just trying to get a guage on initial ROI and then take into account other costs like rates, interest, insurances etc 
       Cheers Troy 

Thanks Terry
      Obviously I am trying to think outside of the square but it is very interesting to read comments about other companies/trusts who have had the same idea. Going by what I am hearing it may be more trouble than what it is worth to be honest. However not to worry it is not going to stop me from doing my own work and save some…[Read more]

Thanks Scott
    It sounds like it could be a lucrative little set up if done and managed correctly.
     Troy (Newcastle Knight)

Thanks Terry
    Is that the 6 year rule that I have heard about.

That is true Terry but even so the next one has got to be better than the useless one we have now. Definately not one that is into IP,s or SMSF,s which is what I need my accountant to be helpful with.
  Cheers

Thank you Terry,
     thought you would of had to pay something
     Cheers Troy (Newcastle Knight)

Hi all who have commented
    Thank you very much for sharing your time to try and help me out.
GMH454 you are spot on with my knowledge of SMSF's and I really need to understand it before setting one up which is my main reasoning for this post.
Richard Taylor, thank you for the offer of the E-book, I will take you up on it as stated in the email…[Read more]

Hi Jackie and Pete
    Good topic and I am new to the game. I wouldn't mind finding out if there is a site that does the same in NSW that someone may be able to point out. It would be a very handy bargaining/info tool to have indeed. 
      Cheers and Thanks 

Too funny
  I drive a 96 model dual cab bravo, plenty of character with scratches all over it, a couple of dints here and there. It even has power windows, well 3 of them, the drivers side window packed it in so instead of paying the $550 bucks to get a new one I put a manual one instead…..lol. It goes well and owes me nothing so I am not…[Read more]