Being in a similar boat,,having 1 neg gear prop my wife and i decided that the solution to the “little” propblem was to find cf+ IP to offset,
this has also given us a goal/target to work towards ie neutralizing the neg geared IP.
We are only begginers, but try fix the prob don’t ditch the problem it could turn into a nugget.

Scruffy

from my 1 experience with OTP,
if you sign the contract before 12months of completion the bank will hardly consider any market growth for the 12 month period as the bank know’s the developer figures in some of next years growth also into the cost,
I had my OTP valued by a company that is on the banks panel of valuers hoping they would accept it,no…[Read more]

thanks Stu,
Good read,
got some homework from that ,
thanks again,

Scruffy

Dvane,
As i’m the recipient of Mels advice you quote,”bite the bullet”,i’d like to say that the positive geared property that i’m picking up fits into a scheme.
Mel knew where i was at last Friday i don’t think Mel meant “bite the bullet ” in general.
The figure’s worked,the town research is sound,it produces cash on a weekly basis and the house…[Read more]

thanks all,

no doubt the bank is using up equity in my PPOR,
you could feel the air when i told the bank manager i could wipe out my home loan with my share portfolio at the moment,
great positive encouraging feedback from you guys,there’s plenty more for me to learn,

Aussie offered 6.45 over the phone so i’m going to try squeeze the bank manger…[Read more]

feedback time,,,where to start,

i inspected the house met the tennant,there’s plenty of areas for me to dump some of my trading profits,rotten timbers, rusty gutters,broken gas heater,stumps in the bathroom gone,but
the tennat is happy to pay the rent he even offered to paint the house room by room,(vegy patch,lol)tennant also happy to go direct…[Read more]

Leigh,
thanks also for the other info on rentals acheived,,you got me on a couple that’s embarassing main cash flow of the town,,
population i was told that a near by town called wicherproof had about 800 and this town was double that with schools /hospitals,,
I think i’ll do the do and walk the walk ,,been great meeting you guys and thanks…[Read more]

thanks Leigh,
i have 2 mortgages at the moment ,one being the home.
they are separate both p&i with cba,
invest fixed till 2006, home fixed for another 3 months.
the home one is only about 30% of home value,
the invest i financed off the plan a year ago and may carry some equity too.
i think they think i’m eddible and may taste nice,
when i’m just…[Read more]

Mel,
Found it on the internet but it’s in a area that we’ve been watching for a while.The town has several schools 1 private and a hospital.We got the referral on the area last year from a friend of a friend who’s an agent bought for one 48k and gets 100pw rent.(2 bedroom)
I just got off the phone to the agent,asked him about increasing rent to…[Read more]

Hi Mel,
thanks for ur response,,one main concern is that it’s 3 hours away from Melb. and my mind is telling me,,
1 with all these top gun investors around scouting everywhere how did we manage to find this place,
2 being 3 hours away leaves me over a barrel
3 if i try manage it myself ,refer to concern #2
4 it’s not like a stock where there’s…[Read more]