Thanks for all the input everyone.

Jamie – yes, my husband is the sole income earner, so I do understand where he's coming from.

Chris – thanks for your input.  My husband and I do work quite similarly, where I do all the research and then we proceed together.  I guess one of the other issues is that I just didn't think we'd get more finance…[Read more]

Jamie M wrote:
least you're going about it the right way by seeking input and doing your research. You're not jumping into anything without thinking it over.

Nearly 10 years on we may be 'over thinking' it LOL

Thanks Jamie, that could be a good spin off business for you   My husband does generally leave the finances up to me, so while that's OK, it also means a bit more pressure that I don't make the wrong decision.. Big decisions are made together of course, but normally after I initiate it all and he feels comfortable.

I'm determined to at least…[Read more]

Probably frightened of choosing the wrong property is the biggest concern.  We purchased in SE Brisbane (Forest Lake) and while we have always had the place tenanted, we didn't have a good property manager and had tenants who wanted to call in a plumber or electrician every other month for some ultra minor issue (ie. noisy fans, even when they had…[Read more]

And I'm sure they charge you a nice over limit fee for the privilege

Very interesting way to look at it…

Love all these ideas.  Thanks

I do appreciate that if someone was working and then entitled to a tax deduction due to a rental loss in order to get FTB that would be taking two bites of the cherry.  I guess as I see it, I earn nothing and my net rental loss is useless to me and is still halving my entitlement. 

Since my tax is so simple, I'm just doing it myself, but have…[Read more]

Excellent – thanks guys

Thanks Terry.

As I don't have any income at present, apart from my share of a net rental loss, I want to ensure it remains under the FTB income threshold of $5183, as net losses are counted as income for this purpose.  So for me, it wouldn't matter about a higher level of rent.  I think I'll be under the threshold anyway, as I expect the loss to…[Read more]

Thank you all very much for your expertise.  After discussions with my brother he has decided not to go ahead with the uBank refinance.  I only have one investment property myself and unlikely to add to it as I'm now a stay at home mum so we're on one income, but I'm wishing I hasn't refinanced my loans!  Oh well, maybe when I go back to work I'll…[Read more]

Good question.  I'd never actually thought about it and knowing how much it cost me to change all the locks when we moved into our PPOR, I can't say I'd be rushing to do it, unless it was specifically requested by the tenant.  I only have one IP and would be keen to hear what others do also.

I'd love a copy of your e-book also.  If you don't mind sending my email is: [email protected]

Cheers

Thanks for your response Jamie – the sole reason he is refinancing is to get a better rate.  I believe he will be saving about $5000 pa in interest (if I recall correctly).  The costs to refinance each loan will be about $500-600, so justified based on the interest savings (ignoring all other factors and considerations mentioned).  He has…[Read more]

Just as an aside, I looked up your companies website and it would seem that you guys have a great offering 

Thanks Grant.  I'll definitely be passing all of this on to him!

Thanks Terry.

Thanks Terryw, would you be happy to expand further on some of the key issues regarding tax and asset protection.  At the moment all the properties are in his name only, so I wouldn't have thought he'd be afforded any real asset protection now with the current structure anyway. 

Thanks for the response.  Just to clarify, are you saying that if he was to increase borrowings again with his current lender, and he's paid LMI previously, that he wouldn't effectively have to pay it again?  I assume this wouldn't be for new loans or properties, just the existing ones where he has previously paid LMI?