thanks for that advice…..with wizard at the moment and he also informs me it would be quite expensive because we have a fixed amount, but that fixed amount was done on purchasing the 1st property so i'm not sure why this would be an issue….cheerstugger

yeah they all sound like good ideas….i've promised to spend some time on the garden over the next few months so thats good…. looking at offers over about 1.2 million i reckon….still interested?cheers , tuggerwaugh

Good on ya Steve…. sent through an email and just waiting to hear back to see how we go. In regards to the property conference living up in the Northern Territory makes it a bit hard… do you ever have meetings or conferences in Darwin? cheerstuggerwaugh

Thanks Kum and Mortgage Man…Yeah it seems a lot of piss farting around but worth it in the long run if it all goes well… we found recently when we spoke to a palnner about a good block of land he was quite keen himself and it appeared he might have been the purchaser at the end with a higher price. We are living in the NT and the block is in…[Read more]

G'day Jaz…yeah I am from tassie but have been living in the NT for the last 3 and a half years… having just spoken to my property manager today she seems to agree with the margate call and has thrown lutana in as another possible suburb to move in the next little while. Might even look at land packages down in Margate and see how that…[Read more]

sorry missed a question… we have purchased the properties as joint tenants… we are in a defacto relationship with no kids…cheers richardtuggerwaugh

We are with Wizard….. we are living rent free in the NT so we are throwing as much money into the loan as possible… When i enquired about interest only (for when we return to rent paying or a PPOR) I was told that we would have to bring the LVR down to 80%…. i think it was because we wanted a no fuss loan and had no expenses or debt or rent…[Read more]

[If your mortgage broker structures them correctly you should be able to continue buying and building up an good portfolio and at the same time minimising your tax position.[/quote] My partner and I have done all of this by ourselves so far but we will definetley be looking to talk to someone about how best to structure everything. In regards to…[Read more]

G'day Abundance…thanks for that info…. both IP's are negatively geared at the moment but both are increasing by approx. 10% per annum so the capital gains side we are happy with. I agree with you on the purchasing at the right time though, I think we might wait till the end of the year and see where the interest rates are heading. If I had my…[Read more]

We are living rent free in the NT so the two properties we own are both IP's. When we get our LVR down to 80% then we can pay IO so that will be the plan…cheers terry

G'day PAPS…thanks for that…not a bad little calculator…cheerstuggerwaugh

well by the sounds of this I might just pack my bags, sell the two IP's  and crawl into a hole. In my late 20's and my partner and I own two IP's and live rent free in the NT on combined wages of $140,000 before tax. We pay $600 more than minimum monthly on interest/principle loan and have no children or other expenses… both properties have…[Read more]

Thanks for all the good advice…Yeah are paying principle and interest without offset because our interest rates are quite low….to transfer to an offset account this would push our interest rates up and we are quite happy with the variable rate we have secured so far.Inregards to another property I am thinking very carefully what to do now with…[Read more]

Gotcha…..Well I hope with the latest interest rate rises that getting a nice decking would hopefully improve the value of the property by at least that ratio of 1:3. And maybe even allow me to bump the rent up by 5-10 dollars over the next 6-12 months. Cheers JONCHUtugger

Thanks JONCHU….What is the 1:3 ratio you are talking about? The property is a 1985 4 bedroom, 3 bathroom property with a 1-2km direct line of sight to the beach….all I can think of now to improve the property would be a good decking… cheerstuggerwaugh

Thanks Jonchu…Well the house is in Tassie but even in winter there is nothing better than rugging up and sitting on the veranda with a nice hot coffee….what would be a rough guide to a 20m2 veranda timber decking? cheerstugger

G'day Chris…I am also 28 and with my partner (26) we have two IP and pretty much jumped into it before we had researched a lot. We are both on salaries of $70,000 and although we might not have done the research, we feel we made a few good investments. Having now read a few books, magazines and been reading and writing in these forum topics and…[Read more]

G'day Pete…Yeah I would love to get into the land and building aspect of investment but having bought our first 2 IP this year I think I've still got a lot to learn before I venture off down the track of buying land and building units/townhouses. My parents have just given me a 3000m2 block of land in Geilston Bay so hoping to build our PPOR…[Read more]

G'day Terry…Thats pretty much answered all the questions I was after… Now to look for quotes to build….that should be the fun stage. Yeah would love a spreadsheet from one of the lenders you have that would be great. Cheers terrychris

G'day Terry…… good advice from you as always…With drawing down these lump sums for construction I'm under the assumption that the bank or lending agency have a say in when these sums are handed out and need to inspect the property in stages as its developed. Can this hold up construction or are they normally pretty good with getting out and…[Read more]