Hi Richard how do you mean split it into three loans?My current loan is getting switched into a new loan and when i purchase another property ill get another loan for that?What do you mean with the third one? As the loan is new can i just start recording interest and deductions from then to make it easy for who ever is going to do my tax?The…[Read more]

Hi people just two more questions,1. Is it best to have two separate loans for easier tax recording or have one large loan so the offset account goes to the one. 2. Can you have one offset account for two loans?

Hi everyone thanks for the advice, I've just got a few more questions.I've got my home loan changed to a new product with the same bank. Its gonna take about two weeks to change it all over. The bank doesn't need any information or appraisal on the house as i work for them.The loan is 7.10% PA, 100% offset and also to interest only for 5 years. No…[Read more]

ah yes Terry, thanks for that forgot to add council rates. Anything else besides repairs? I've got a redirection on my mail to my new address any chance that can be put as a tax deduction? The cheque cleared today so all is good.The main reason i decided to do this all myself is that i got two real estate agents to do a free apraisal on how much…[Read more]

Hi Qlds007 thanks for the infoYeah I've mixed up a few words. Number 6 i mean landlord insurance not mortgage insurance.Number 7 i still need to sort out depreciation as i did renovations a few years ago when i lived there.What do you mean by building write off? how would that work?With the 30K it is extra i've payed into the loan but i can take…[Read more]

Hi Angel, thanks for the quick reply and information.With the cheque, i mean do people have problems with letting the tenant moving in before the cheque clears or afraid the cheque could bounce?With the bank account i didn't know if people have separate ones for security reasons or because its easier to keep records for personal and tax…[Read more]