Forum Replies Created
- Originally posted by voigtstr:
Thank you for the replies. Initially to pay down the debts I was paying more into the account that had the highest interest. Lately I’ve been paying more into the account that had the smallest balance. The theory is, you can see the progress quicker. So I am paying the minimum payments (except on the 5 year fixed mortgage where we pay an extra 79 a fortnight) and paying the left over from the budget (minus a buffer zone for incidentals) into the account with the smallest balance. As each debt is payed off the amount that would have been paying its minimum payment is added to the next debt accerlating the rate of payment.
I would stop paying the extra 79 a fortnight off the mortgage and use it to pay off the other loans first. The interest rates will be much higher on the cc and personal loans. These are the ones you want back to zero pronto:)
cheers
anihttp://www.tradeoff.com.au
the new card for investorsWill she read a book?
Something like “Ordinary Millionaires” by Jim McKnight will probably have a story she can relate to.
I totally agree with the one property at a time approach. Don’t scare her to death!
cheers
anihttp://www.tradeoff.com.au
the new card for investorsRP Data search should tell you the owner
chhers
anihttp://www.tradeoff.com.au
the new card for investorsOriginally posted by nickelben:I had signed a contract to purchase a commercial property with 30 days due diligence. I had ordered valuation & building inspection to be done. What else should I do to evaluate the purchase ? I would appreciat e if anyone would shed a light on this topic . Thanks…
Help needed
Nickelben[worried]I’d want to check the existing or potential rent against others in the area.
Is there a high vacancy rate for commercial properties?
What is the going rent per sq metre?
What’s the parking like?I’d pretend to be a potential tenant and go check out a few for rent:)
cheers
anihttp://www.tradeoff.com.au
the new card for investorsYes it has to be land tax he is talking about.
The structure he might be referring to is a Property Investor Trust which advocates a separate trust for each property in NSW to make use of the land tax threshold.
I would recommend lots of research as there is no indication that the OSR will continue to allow this sort of trust to be exempt from the threshold.
It is basically a HDT with a unit trust attached.
http://www.chrisbatten.com.au/ has lots of interesting info on trusts on his site.
cheers
anihttp://www.tradeoff.com.au
the new card for investorsHi
Nick at Strategic Wealth Management comes highly recommended.
http://www.strategicwealth.com.au/
http://www.tradeoff.com.au
the new card for investors
