I agree. There are so many dodgy operators out there. The Internet is contaminated!

TMA
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I consider an offset account miles ahead of a LOC. It is cheaper and offers more opportunities.

TMA
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As to the bit you added, please ask your adviser how a negatively geared property will assist reduce debt when you are losing money each week????

TMA
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I am glad you are not convinced. You have an excellent interest rate when comparing to the current rates. A Line of Credit would not even be my choice if I was forced to make one. A loan with offset account would serve you much better.

If you want to pay your loan off quicker while in a fixed rate period, check your loan documents to see what…[Read more]

Seriously Jie, don’t cancel the appointment. Just don’t pay them any money. Negative gearing is the old way to invest. It is the easiest type of property investing there is. More often than not, investors are being ‘guided’ into crappy properties the seminar presenters get huge kick-backs from. Attending the appointment will still be a good…[Read more]

Don’t get too excited yet. The scenario I outlined was dependent on the properties NOT being cross-collateralised.

Your only option, if your current lender will not let you borrow more than 80% LVR, is to seek out another lender who will let you borrow 90% or even 95%. You will definately be up for LMI but you don’t mind. I didn’t miss that.

Man…[Read more]

A Line of Credit is useless!

There is no advantage using a Line of Credit.

TMA
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Their profile looks fantastic. I have looked at them very closely and they offer great support. I have done a bit of travelling to London, Paris, Marseille, Amsterdam, Bali and extensively around Australia so I have that covered. Also have two passports.. Aus. and Euro. A big bonus.

The problem is they do not respond very quickly to online…[Read more]

Why is there one for every property? You are being ripped off!

TMA
http://www.email4money.info
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I hope you are not paying for that advice. Many individuals here can give you that advise for FREE!

TMA
http://www.email4money.info
Investor Links
First Home Buyer Website

Besides your properties apparntly being cross-collateralised, which you still have not confirmed or denied, you might be facing serviceability issues.

If your properties are NOT cross collaterilsed, it is a simple matter of increasing the loan on your first IP to 80% and also borrowing 80% against the new property. This assumes you can service…[Read more]

Friends tell me it is a fun field to work in. You don’t have everyone lying to you all the time as there is no reason to and they are usually happy to be going on holiday. I am also told it can be stressful if things go wrong regarding a booking or trip but this will be dealt with as it comes. I still have to get a run first as I have no training.…[Read more]

The 1% to 99% split between husband and wife has always had me baffled. Regardless whether you or his name is on each other’s title, you still own half or more. While your name is on title, you will be liable for the debt on the property.

To get a low doc loan, you would need to lie about how much income you earn. The only other alternative is no…[Read more]

No-one can answer your question. How much is the property price you are looking at? What type of property is it? Where is it located? What is your financial situation? Do you have any savings? What is your work history and income?

Some people do not need any deposit while others need 35% of the purchase price.

First Home Buyer information is…[Read more]

Offsetting non-deductible debt is fantastic. As long as you ensure all your income (both of you) and all rental income goes directly into the offset account, you should make good inroads. There really is no benefit borrowing from the IP just to feel a bit more comfortable.

Alternatively, borrowing against the IP to fund additional cash-flow…[Read more]

Originally posted by Dazzling:
…most of TIC members prefer the first option.

I don’t think they “prefer” the first option. I just think they pay the first option not knowing there is a second option or thinking they are getting the second option ‘price’.

TMA
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I do not see any reason why you would borrow against an investment to pay down non-deductible debt. All you will be doing is adding unnecessary expenses in the form of loan application and fees and charges.

The comfort excuse is of no significance because if things go sour, you can sell the investment and pay down the debt on your PPOR.

If you…[Read more]

How long is a piece of string???

TMA
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Megan, I totally disagree that higher value properties grow quicker than lower value properties. There is more demand at the lower end!

TMA
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FHOG is not guaranteed to be there forever. http://www.fhog.info. Other discounts and concessions are certainly not likely to be around forever.

I would use it while it is available.

TMA
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