Hi Ross:

Ip will be in my name, i will own it

my company pays my rent as part of a package…Salary is about $95k, I told them to give me $73k instead and the rest they rent me a house…

The loan is in my name

It’s a Pty Ltd…

mate u’re doing better than me when i was at uni, i had $0…i’m pretty late to this investor thing but my biggest advice is hang around in this forum, there’s some great advice and people in here..all the best

i see…thanks guys..yeah marc’s right about people getting attached to a PPOR, i guess i’d feel more ‘secure’ having no debt on one property instead of having 3, 4 IPs and be massively in debt…so does a MISA account effectively have the same effect of making extra repayments? I was offered to setup one but declined because i didnt earn as much…[Read more]

hi marc, yeah richard’s sorting me out aright! Selling the cars is not an option for me, i’m nuts about my cars, it’s the only ‘hobby’ i have really, i don’t go on holidays for example…they dont cost much to run, one’s in storage at mum’s house…and no debt on them…i worked out if i can manage to get another ip with mum i’ll still have about…[Read more]

Buy a Ferrari instead! Nah just jokes…good to see young people thinking about their future…i live in a mining town and most guys your age are on $100k…unfortunately they spend it all on HSV cars and grog…

hi terryw, i actually lived in that property for a year to get the FHBG, will i still have to pay CG in the future?

thanks so much for all your advise…i’ll have to slowly digest them..i’m horrible with money…i’ll speak to an advisor asap…thanks again!

thanks for the advice derek! Just want to ask what is a PAYG variation? And what does it do? last year i earned $52k before tax.

yeah i’m planning renovations at the moment…I hate the shaggy smelly 80s style carpet!

yeah i understand it’s not a race…i definitely have the patience, just need guidance, A LOT of guidance [biggrin]

anyway…[Read more]

speak to u soon Jo…
Brenda: i got about $20000 cash but that’s for a deposit for my next one! hehe…it’s gonna be TIGHT for the 1st 6 months(living in it to get the 1st home buyers grant) have to cough up $2300/month!

Lucifer: don’t really get your post…i’m pretty dumb when it comes to figures…i know cash flow is really BAD but like i…[Read more]

Jo please check PM!

here you are YC:
http://www.osr.nsw.gov.au/portal/page?_pageid=33,63454&_dad=portal&_schema=OSRPTLT

thanks for clarifying simon, lucifer! i do need a new broker! and a new solicitor as well! he told me the wrong thing too!

YC, on the FHOG site it states u can rent the rooms out as long as the house is still the principle place of residence…

yeah kay does have a good point…but like he mentioned 50k houses are in mining/rural areas, i’m worried about capital grwoth in these places..whereas the $400k place whilst not near a capital city, have nice water views…the house itself definitely needs work(new paint,new doors/lights), intersting kay mentioned depreciation on buildings cos…[Read more]

hi all! thanks for the good advice! you lot are an inspirational bunch… looks like i’m gonna have to get steve’s book…anyhow i’ve decided to buy that 400k house as my 1st investment….i’ll let you guys know how i go…