My motivations are as follows:

1. To provide for my family financially in such a way that finances are not a restraint in our lifes.

2. To be able to spend more quality time with my family.

3. To be able to assist my local church.

Ummm… I’m pretty sure that was a joke Sach. []

Crashy is harsh, but he speaks the truth. []

As far as I know, all of Melbourne is connected to mains gas… maybe some outer/rural areas use LPG bottles.

PPOR = Primary Place of Residence

ie a house you own, that you live in.

Westan – sounds like you’re had a successful ‘career’ in IP.

Out of curosity, what Bible College did you go to?

Oh yeh, and on topic – 1 PPOR, 1 IP…

ajwans – Yep, understand that. Though I don’t really like the mentality of people that think like that (not that I’m accusing you of thinking like that, don’t get me wrong). I prefer win-win situations not zero sum (ie one wins – one loses), and think it’s better on a personal and social level. []

Still, you could argue that it is win-win during…[Read more]

quote:

quote:
-JV partners -they pay deposit

Hi Terry,

I understood the rest, but this one has me puzzled.

Joint Venture partners.

If those figures are anything to go by, it shows that during ‘busts’ -ve property owners will be hurting big time. Losing cash on a property when its not appreciating in capital value must be a real bugger… []

Obviously during those times your +ve properties are gonna be worth their weight in gold – so with all the talk about a ‘bust’, even…[Read more]

Yeh I only check these forums during working hours.

1. Cause the internet at work is faster.
2. Cause I do all my property searching at work.
3. Cause I’m too lazy to dialup from home. []

Thank goodness that isn’t the cover that was originally released cause it is nasty… []

I’m 25. Brought my PPOR at 20 (just before I got married) and brought my first IP at 24.

Looking to buy some more IPs but finding it hard to find +ve properties that are still for sale… hehe (ie they always seem to be sold by the time I find em).

PS. I wish I’d found this site back when I brought my PPOR, cause based on prices back then I…[Read more]

That would be a sweet as opportunity for some wrapping… you could add on 4% interest and STILL keep your wrapee happy… hahaha []

Well, like I said – the western suburbs are affordable at around 250k to 350k for a fairly decent house…

Excellent suggestion by Mortgage Hunter. Write up some contracts saying they can keep the money in their offset account but NOT spend ANY of it and also stipulate that you can withdraw the money at any time you feel fit.

That way you’re helping your friend, while also keeping your options open. []

Personally I wouldn’t do it – business and family rarely mix well.

Also, you are doing yourself a huge disfavour – why not just buy your own property now and bang that 100k on it straight away? That will save you years of interest, believe you me, and quite possibly alot of hassles with this family friend (though I’m generalising here).

Or you could go into the western suburbs – 10km to city, period style houses and starting to shake off the stigma from past generations.

Though if yuppy is what you want, then nah… you won’t like it in the west.

You don’t specify if you both work or not but this is what my fiance’ and I did (now married) when we were saving to buy our first house.

1. My fiance’ paid for ALL our living expenses. However, of note was the fact that we were both living at home with our parents. Still our living expenses were: board, insurance, petrol, food/clothes etc

2. I…[Read more]

I’m with doogs on this one. I’m with Westpac / Bank of Melbourne and I’ve found their products very good (got the same package as doogs).

I used to be with RAMS however I booted them when they told me they couldn’t do construction loans – up until then I’d been happy enough with them (though they had NO internet banking which was a major…[Read more]

I think offset loan accounts are fine, but there are not the only ways to reduce interest. In my opinion two of the most basic and BEST ways to reduce your loans quickly and effectively is:

1. Never ever make minimium repayments, always make larger repayments.
2. Make weekly repayments as opposed to fortnightly or monthly repayments (for P&I…[Read more]