Any Vendor offering VF will have incorporated in his Instalment Contract that he receives it.

CBA were the same immediate termination of your agency if you lodged an application.

if he has been around the traps for a while he should be able to come up with something.

When you move out of the property and rent it out you want to have the flexibility of maximising yout interest deductions.

If you have started paying P & I then the amount of interest is reduced.

Interest only gives you choice and this is important for structuring an investment portfolio. 

Terry No arm bandits you kidding me.

You never had your arm twisted when your ATM is empty. My wifes pastime.

I invested in my own ATM in 1992 the year i got married.

I stock it with money and my good lady wife takes it out.

Sorry Piersw

Just to correct a couple of matters in your last post:

1) You cannot borrow in Super. No quiet right although admitedly the borrowing needs to be done through a Instalment Warrant.

2) and in the mean time only pay 15%. 15% is only paid on the deductible contributions and the fund annual profit. If the fund is entitled to received concessional CGT on the sale of an Asset within the fund the rate is 10%.

Hi Marta

Firstly welcome to the forum and I hope you enjoy your time with us.

First question: To purchase this property it will be in my name right? I can not at this stage purchase with a trust as I am a first home buyer?

A) Would always suggest to every client that you take advantage of the concessional Stamp Duty rates and FHOG on at least 1 property and this may wel as be the first one. 

Second question: If I plan to live there for 6 months and then rent out. Do I organise an interest only loan from the beginning with a 100% offset account?

A) It is horses for course but we would recommend to clients that even if the home is a PPOR you take out a Interest only loan with 100% offset account. Some lenders allow upto 10 years even 15 years interest only.

Third question: Another scenario I thought was If I lived there for 12 months, renovated, then could I use that equity to purchase my first IP and then rent the PPOR after the first year (assuming it would be enough value)? Would this be a good/ bad idea.

A) Yes this is normal practice for clients wishing to build equity.

Fourth question: How does a trust structure help you to fund more properties? I have read some responses on these forums but now I am really confused about this point. And how soon should you set up a trust if your aim is to have many properties?

A) It doesnt. I think this point in Steve's book has been taken out of context.

Fifth Qu: When I convert my PPRO to a IP are there any legal issues I need to be aware of, like is it as easy as finding tenants and just getting them to move in (apart from insurace etc)?

A) Yes simple as that. Probably a good idea to get a Depreciation Schedule done at the same time so you can lodge your 221D Tax amendment as soon as possible.

Hi Jasandliv

Unfortunately the 2 requirements are miles apart and you certainly wont get development finance done through a Pro Pack unless it is put together properly.

Without further information it is difficult to give you an proper appraisal.

Hi Pg

Firstly welcome to the forum and I hope you enjoy your time with us.

OK agree with your MB that you should look to secure a LOC or interest only loan to cover the 20% deposit plus acqusition costs against your PPOR however you have a problem with One Direct. They were the online lender of Anz and are no longer taking new business.

You would be better off to look to refinance the existing loan and then take the LOC upto 80%.

Yes i agree whilst you are building up your equity have a look at a higher than 80% lvr.

Unfortunately max loan with Anz is 90% less LMI so no luck there.

Would only accept if the valuer was on their panel and in a format acceptable to the Bank.