Forum Replies Created
North Parramatta would be better as it is close enough to all of what Parramatta has to offer yet is more peaceful. These are the streets which are close to Parramatta Lake Reserve.
Hi Crashy,
I would suggest you look at Seven hills as prices in this suburb and some surrounding suburbs have bottomed out in my opinion. Good thing with Seven Hills is that it has a train station plus a new business park is planned to get created there.
Regards,
SK2
No mowing isnt of an issue as with the current dry conditions the grass does not tend to grow that fast. Also not sure of the name of the turf we used but it was meant to be slow growing and quite resistent to dry conditions.
For any property the tenant is responsible for the upkeep of the property which means they are responsible for mowing the lawns with their own equipment.
For us the property was vacant from completion for a week till we had a tenant. However at the moment the rental market appears to be quite tight in this area and if things change then ofcourse it may take longer to rent out then compared to something closer to Brisbane itself.
I believe Gleneagle which is about 3mins from Beaudesert has better growth prospects. There is a new development there by QM Properties which is where I bought land last year and built a house all up for under 270k. It is currently rented at $320 per week.
The land itself was 121k for an half acre. The next stages in the development which will come on sale might be more expensive but might still be a good buy.
Thanks Linda
I am based in Sydney and was able to meet up with Richard while there a few weeks ago to work on an IP. I would recommend him to anyone. He gives good honest advice.
Regards,
SK2
Hi,
Does anyone have any further information on this in particular relating to the new Rouse hill regional centre? Also I have heard there will be many new lots created near Kellyville Ridge by Landcom, does anyone know when these would go on sale and what the price range might be?
Regards,
Sk2
Thanks for the advice v8ghia. I will definitely get pre-approval beforehand!
I have also heard about the 100% loans from Macquarie, would that be something worth considering? Or is it better if I just went through a broker to get this organised? I am based in Sydney.
Regards,
Sk2
Hi Richard,
This is interesting and might be something that could suit me. Which two lenders is this product through?
What will the interest rates be like?
I already have an investment loan on the CBA wealth package but am now considering loans I could take out to purchase a home to live in.
Regards,
Sk2
Hi tiredofthis sorry for asking, but are you affiliated to the Jenman site or are you actually Mr Jenam in disguise here?
Saw your other post in the Help section where you put your views on Rick and again referred to some artical on that site.
Regards,
SK2
Hi All,
Here is what we drive:
Mine is a 99 Camry v6 bought in 2002 for 14k. It had done 97Km back then and is now reaching 200km but still runs like new. Also good thing with the Camry v6 is that it does not use much more fuel then the 4 cylinder camry.
My wife drives a 2003 Corolla bought for 15k earlier this year and it had done about 45kms.
We plan to keep both cars for as long as they run and put all savings towards IP’s. Our first IP is currently being built in QLD.
Try http://www.propertyvalue.com.au
Gives you free suburb profiles once you register with them. Registration is free also.
Thanks Richard I reckon that is what I will do when it’s time for my 2nd IP purchase.
Also the ATO called back today and confirmed everything that was mentioned here. Offset account set up’s on investment loans are perfectly okay however using re-draw will require apportioning to claim back on tax.
Hi Terry I originally did intend on going through StGeorge however they let me down in the speed in which they which they seem to work. Maybe it was a rare case however after I had put documents through to StGeorge they came back to me 2 weeks later saying we had to supply additional I.D before they did the valuation on the land!
My land settlement is not till next month so I decided to try CBA and so far they have been more responsive.
I might look into the ANZ option also which you mentioned earlier.
Thanks for the info Fish. That will be a shame if I can’t have the salary go directly into the MISA account. But I guess if the transfers into MISA can be doing over the net then it should still be okay.
I will check up on that limitation.
I just contacted the ATO however they said someone will get back to me within 24 hours with an answer. I will post what I find out here.
I also contacted CBA and they advised I could have an offset account called the Miser account. Will wait to see what sort of account that is when I receive more information for it.
Thanks Terry, Now I feel as though it probably is not the best idea for me to be going with CBA!
Can I just confirm that even though both an offset and a normal loan account with re-draw seem to operate the same way,( Both can have the full salary paid into it, both have the interest calculated off the total amount in the loan and both allow one to take money out at anytime to cover expenses) an offset account is perfectly okay with the tax office to claim interest charges in tax returns?
Thanks LifeX, that structure looks like it would still let me achieve my aim of paying costs with the credit card and then pay off the credit card with the offset account instead of through the loan directly.
I’m just not sure if the Viridian line of credit can be used like an offset as Richard mentioned it can’t.
I will speak to the Comm Bank person who gave me the loan details to clarify on it.
Thanks for that Terry. I have not actually signed anything yet so i’m glad I checked for opinions here first!
Does anyone know if the Viridian line of credit through Comm Bank can be used like an offset account which Terry mentioned?
Or is it best to just not put all of the salary into the loan in the first place?
