Forum Replies Created
Good one Pete…
I love Tassie and I would prefer to do as much investing there as possible as it is my home state and I think there are some great suburbs in and around Hobart that should perform well. I had a look at the REIT report yesterday for June 2007 and things look like they are still going strong but then reading Michael Yardneys book tells me to invest anywhere but Tassie…. think i'll stick with the heart on this one…cheers
bardon wrote:If you and your brother and sister have been offered blocks of land from your parents I take it that you are not buying from them and therefore dont understand what you mean about taking on mortgages are you saying that the blocks are not gratis and come along with debt ?
Yes they are gifts, but would have to take on mortgages in order to build on…. land comes with no debts.
I'm not saying Tassie is bad at all… I am originally from Tassie and plan to return there in the next 3-4 years to settle down. The properties I have bought sold approx 6 years ago for about half of what I paid and the suburbs, Sandy Bay and Kingston Beach, are continuing to show steady growth. I'm sure the more publicity Tassie gets the better it will become for the investors. Cheers
tuggerwaugh
G'day Pete…
I would love to go on the mailing list. Living in the NT at the moment but would like to continue to invest in Tassie properties. Will be down in December and January so hopefully there may be another meeting. Is the Tassie market as bad as everybody says? We have properties in Sandy Bay and Kingston/Kingston Beach so hopefully its still all good.Cheers
ChrisMy partner and I have two properties, 1 in Sandy bay and the other in Kingston Beach. I hear so much about problems with investing in Tassie but I can't see based on reports why Tassie cant be a successful place to invest. Lets hope Tassie continues to grow…cheers
Sounds good… I am currently living in the NT but have 2 IP in Tassie along with family and friends. I get back once or twice a year for a month or so and it would be great to learn more. Will you be geeting guest speakers or would it be more general discussion? cheers
propertypower wrote:Hi tuggerwaugh,
Other than the comments already mentioned above, I suggest you should consider changing your loan to Interest Only. It does not stop you from making excess repayments but not force you to pay principal.Thanks for that advice…haven spoken to our lender I have to bring the LMR down below 90% to use the IO repayments option, so hopefully within the next year our equity will increase and therefore bring down our LMR. Cheers
tuggerwaugh
Stumunro wrote:You can use the equity however you like! Banks will throw the money at you, regardless of what you use it for (Do not use the money for anything else but re-investing!!!!)! Just keep in mind that if you are re-financing your loans to re-invest you will be paying interest on 100% of the purchase price, as you are borrowing against the equity of your properties.Thanks for both your replies…good info… If I use my equity as a deposit does that mean I can still avoid the LMI if I deposit more than 20% of the value from the equity I have acquired? I am trying to decide whether to throw all our incomes into the 2 mortgages now and use the equity as a deposit, of make minimal payments and save for a deposit with cash in hand. I suppose being able to reduce my LMR to 80% is the most important aspect. Cheers
Tuggerwaughseer76 wrote:Hi there,
We live in remote north west QLD and our accountant is based in Sydney. We use Priority Tax And Accounting Services in Parramatta. They are experts in IP tax and personally we are thrilled with the advise and service we have thus far received from them. I can HIGHLY recommend them!Good luck with it,
G'day Seer…
Thanks for that advice thats fantastic….do they have a website address to contact them on? Living out bush is a great start to investing in property as expenses are low and income is normally high…. any good advice to offer a couple in there late 20's with two investment properties in tassie? thanks again
tuggerwaughG'day Terryw..
Thanks for the advice…. what does the IO you refer to stand for? Is it better over a 5 year period to keep the loan repayments to a minimum and put the extra money into a different account? Do you know any good books or websites that can give me the low-down on a few of the tricks of the trade? thanks again terry.
Tugger
G'day Pinknic…
Thanks for the reply…. yeah I think that we can't really go wrong while we have no expenses but the more we read the more we think about what the best decision is. Cheers
tuggerwaugh
