OK thanks guys for the advice. At the time of taking out the loan it had a good interest rate but I was unable to have an off set account. Not to worry, learn from your mistakes. I think the car can wait.

Hi Shawn,

I used pool chlorine mixed with water and worked pretty well. Just disconnect your down pipes to keep it on the property. If it is too established then you may have to get onto. The chlorine can be sprayed from the ground.

Cheers
Ollie

Thanks all, yes APIA have the product and was reasonably priced.

Thanks Catalyst, I will do the ring around

OK thanks guys. Thought as much.

Just to tag onto this post, can you turn an existing IP into a SMSF?
thanks Ollie

Thanks Kenetic, great information and advice.

Yes doing it as my 13-14 income will be considerably higher than next years due to losing hours at work, otherwise I would just go the normal fixed rate
Ollie

Thanks Benny, that would be good and would definitely take the pressure off. The accountant said needed to have the funds drawn down to accrue the interest. Well check again

I’m currently in this situation on a interest in advance loan trying to get it all sorted before July 1 due to my 13-14 tax advantages, it is doable as long as you get an unconditional loan agreement and the vendor is keen to off load the property?

Yes sounds right, off to the accountant on Monday to have it all sorted. My next big question is since moving in we have spent 120k on renovations so the house price has gone up is that included in the CG? I have kept all invoices just incase.

Cheers, lucky I have kept good records plus living in it for 8 years will reduce the CG. Will be searching for a good property accountant today to help reduce my CG.

I think I will talk to an insurance broker before I commit. Thanks