Storeybuilder replied to the topic Whats the best method to own 3 properties debt free ASAP , details below (long) in the forum Help Needed! 8 years ago
I love it
Storeybuilder replied to the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
Thanks again @terryw I didn’t realise I was taking myself into a dodgy scheme. Really grateful for the advice before I made any moves. What I think you’re saying if that its pretty suspicious to take out a new loan to pay off interest repayments and claim both the original and the new loans interest as a deduction (without a special change in…[Read more]
Storeybuilder replied to the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
Thanks again @terryw I didn’t realise I was taking myself into a dodgy scheme. Really grateful for the advice before I made any moves. What I think you’re saying if that its pretty suspicious to take out a new loan to pay off interest repayments and claim both the original and the new loans interest as a deduction (without a special change in…[Read more]
Storeybuilder replied to the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
I’m not sure how that’s possible if it’s for the purpose of paying mortgage interest can you explain?
Storeybuilder replied to the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
Thanks @terryw
I have not. That is an interesting point. I plan to use money from the redraw, so would that appear as if I am borrowing money to do It? Would it be wiser just to take regular payments from the redraw, or does it make no difference?
Re the lender, I want to break and refix by dropping the interest in advance then.
Storeybuilder replied to the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
Thanks for all the help guys but I feel we are moving further away from the topic.
I already did what you suggested Benny, but thanks for the advice anyway.
What I’m really interested in is, are the break fees claimable? – Which it’s looking like they should be. Thanks @terryw
My comment about the calculations was in response to @ethan
The…[Read more]
Storeybuilder replied to the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
Found something compelling on the internet so it must be true
https://www.finder.com.au/refinancing-home-loan-tax-deductions
Storeybuilder replied to the topic Outdoor space to add value in the forum Value Adding 8 years ago
Thanks Pzardo,
Good to know. Yes, renovation is always about looking out for over capitalising.
Storeybuilder replied to the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
Thanks everyone.
Yes, ip staying ip. Fixed interest so easy to calculate. By easy I should say possible.
Anyway thanks for all the replies, looks like I was on the right track.
Storeybuilder started the topic Break fees claimable? Paying interest in advance. in the forum Finance 8 years ago
Hey everyone,
I have two questions.
On an investment loan, can I claim break fees, providing the purpose of the loan is to refinance solely for the investment property?
Has anyone had any experience with paying interest on mortgage a year in advance? Can you tell me how this went?
Thanks in advance.
Storeybuilder changed their profile picture 8 years ago
Storeybuilder replied to the topic Why is St Kilda so cheap? in the forum General Property 8 years, 3 months ago
How about you walk down grey st at 10 pm any night of the week, you’ll find out why really quickly.
Storeybuilder replied to the topic How much profit does a developer want from a project? in the forum Help Needed! 8 years, 3 months ago
Here’s something to begin with but I haven’t done any of it
Storeybuilder replied to the topic Using equity from more than one property in the forum Finance 8 years, 3 months ago
Thanks Benny,
Yes all theoretical for now. Good to know. Thanks for the help everyone.
Storeybuilder replied to the topic What Supplements Do You Use? in the forum Forum Frolic 8 years, 3 months ago
Hahahha that’s the funniest supplement selection I’ve heard
Storeybuilder replied to the topic Investing in first IP & Interest rate rise in the forum Help Needed! 8 years, 3 months ago
Buffer account.
That’s the answer to everything. SANF and everything.
I work with peers earning at least $100,000 a year, and when the pay is a day late, which it actually is on time, they’re used to it a day early, anyway, when it’s late by their expectation, the clamber about and huff about bills and other expenses…
Whatever, no matter…[Read more]
Storeybuilder replied to the topic Using equity from more than one property in the forum Finance 8 years, 3 months ago
Thanks for the replies, but I fear this has become quite confusing to everyone.
It’s not cross Coll because that’s not what I was asking for, what Jamie said makes a lot of sense. Thanks everyone.
Storeybuilder replied to the topic Use of credit cards in the forum Finance 8 years, 3 months ago
Al this and more…
http://www.thepropertycouch.com.au/ep-53-money-smarts-system/
I have looked into it too, even if I could get an interest free $50,000 using your strategy that’s $100,000 of cards, and I couldn’t borrow for another house and in an ING saver I could earn $1500 a year in interest. I don’t think that’s worth it. The damage done…[Read more]
Storeybuilder replied to the topic Use of credit cards in the forum Finance 8 years, 3 months ago
It would depend on your financial situation. Use a borrowing calculator with the limit of cards you intend. Let’s say you want $40,000. That’s probably $150,000 less you can borrow. Then you’d need to get a transfer card, and their lending criteria may be that they don’t like you having $40,000 limit already, and now you’d need another $40,000.…[Read more]
Storeybuilder started the topic Using equity from more than one property in the forum Finance 8 years, 3 months ago
Hello investors!
I’m looking for some advice, it’s pretty easy, probably yes or no.
Let’s say I have property A with $50,000 usable equity and property B with $50,000 usable equity.
Can I buy property C using the combined $100,000 equity from property A and B?
I have it in my mind it’s usually only one property’s equity used for a new…[Read more]
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