Paul Guevarra replied to the topic Made a big mistake with my IP and need help to fix in the forum Help Needed! 12 years, 2 months ago
Thanks for the feedback everyone.
i was actually planning on using the redraw for a wedding.
Derek, i bought the property because a family friend was selling it for under market value for personal reasons. i bought it for $250k and its worth close to $300k. i've only had it for a year an a half.
I think i'll switch it over to IO with an offset…[Read more]
Paul Guevarra replied to the topic To save or to pay of the mortgage? in the forum hi derek, 12 years, 2 months ago
hi derek,
the garuantor part of the loan is $155K (20% deposit). Effectively we have 2 loans the $155k deposit and costs then the $536k for the remainning 80% of the house.
We were thinking of renting it out for a year at interest only, to maximise our tax deductions, during this time we budgeted to easily save $50k between us or more in a…[Read more]
Paul Guevarra replied to the topic To save or to pay of the mortgage? in the forum Thanks Jamie that was a great 12 years, 2 months ago
Thanks Jamie that was a great article, very insightful.
At the moment we have not looking at the property as an investment as we bought it as a family home but will definitely do the off set account option as per article when we move in, just in case we change our minds and need a bigger place.
Paul Guevarra replied to the topic property investment property and extra repayments in the forum Help Needed! 12 years, 11 months ago
thanks guys, been very helpful much appriciated