thank you again for your help!

hi elkamthanks heaps for your post!i always thought the way to use the offset was depositing as much money as possible in it, however still having another seperate account for private expenses. This way the balance in the offset accumulates and never declines.. whilst the other account fluctuates with everyday spending etc… looks like i have this wrong!

Hi RichardThanks for reply!But using the principle figure of $245.80 you derived.$450k/245.80 = 1830 months = 152 years? versus P&I which would mean u would have repaid $450k over 30years?

does something smell in here?

Scott No Mates wrote:
Do the short owner builders course at TAFE (a couple of days) gives you a background in what is needed to project manage construction & trades works. How do you intend going about the work – owner builder or project home? Project home builders specialise in standard design on the block, getting approvals and getting it…[Read more]

thanks for the reply tracy.We're looking at buying a PPOR at rousehill, but looking at the some of the prices im thinking they're abit high? not sure if myu expectations are correct.

Thanks for the replies.in one of my previous posts, people had mentioned to use an experienced or qualified broker etc which is common sense. But is it appropriate to ask them to show their qualifications?

interesting feed back! thanks for the comments everyone.Hate to open a can of worms… but here it goes….. Anyone have any recommendations of a good MB? lol?

HI L.A Aussie.i have the same problem as others ie. i can mainly find ip's that provide only 4-5% rental yield. This 'own backyard' mentality is an interesting concept. Can i ask then, if this mentality suggests a person buys only within their state? eg i live in NSW and therefore only buy in NSW>

had the same question as vyaw2003…. ie.. commercial or residential?

Thanks for the replies. Its been interesting to see the different perspectives.another other quick one:1) does the 'on average properties double every 7-10 years' rule apply to all properties alike? eg,  duplex/houses/villas? just curious on why theres a house vs duplex/unit debate 2) just keepign on track with original post: say if a potential…[Read more]

thanks folkscompletely didnt realise the cross collateralising part until i read your posts. Now im really glad i asked a basic question.Will let you know how i go with things as im in the process for ip2.

hi  – excuse the ignorance but could someone help explain:1) ignoring capital yield, what % rental yield would a person seek when searching for a potential ip? if in the current market the cost of finance is approx 8% ? i assume anything less than this would look unfavourable.2) following on from question 1, assume then we accept nothing less…[Read more]

Hi Hutch. thanks so much for ur post, those were exactly the type of 'generic' questions i was looking for.merryc – with ip#1 – well.. i think it was a bad choice?    i learnt alot from it, but i feel that i lack the real fundamentals and dont want to do it again. I think my mistake was buying it in the high period. So im tossing up now wether o…[Read more]

no one ?

Hi MarcSo how would you go about taking the next step? assuming u cant find any cf + properties. do u just wait to see how quickly u can pay off ur existing ip so its cf + then buy the next one?

thanks folks, ill look into those.. has anyone used AAMI ? they have a new landlord / tenant protection insurance.

just as others said, theres alot of steps involved.. remember this is a PROPERTY you are buying not a pair of shoes… its one of the biggest / most expensive things most people buy in their life. so be prepared !

Agreed on a good mortgage broker they will take care of all those things

make sure ur solicitor checks that any outstanding land tax has been paid for on the property (assuming its tenant occupied already) before u buy it.
solicitors usually do this, and also a building inspection report (right name?) where they check for things like termites…[Read more]

As Richard has already mentioned, you need to get CLEAR and PRECISE advice from your accountant (in writing would be nice )

If you are indeed a sole trader as you say (Ie ONE tax return and you have NO ACN). then iam worried and interested to know how your accountant is processing salary & wage payments to yourself.

Find out exactly what your…[Read more]