Hi Smartcube. A daunting time number 1 is, but great to see you making a move. Perhaps thinking about some more specifics, including what you want to achieve med to long term, how many properties you would like to have (and why) and you are correct in saying in this climate especially that you want something easy to tennant. I would want a better…[Read more]

Toss in the following and see what you think…….although everyone differs on their interpretation of positive, neutral and negative.* Property Management at say 7 – 9 %*Council Rates $1200 and Water rates $750* Also interest on the deposit and closing costs if you have had to borrow them as well via redraw, a line of credit, or a separate loan Cheers

Terryw wrote:
I don't know if that is correct v8. Bank fees – I assume monthly or yearly fees – these wouldn't be a borrowing expense but a general running expense such as rates, insurance etc. I am not sure where on the form you claim them, but it would be the same as rates.

THanks Terry – I have just gone through the 2012 ATO guidelines for…[Read more]

Yep…I'm thinking the same! Brings a whole new meaning tho the words creativity & gearing!

Hi Emma,You are correct – it does go under F – Borrowing Expenses. (Bank fees, as well as LMI if you were claiming over five years)Cheers

Qlds007 wrote:
I am doing a number of investor nights in both Sydney, Melbourne and a few regional areas where i will run thru how i built up my portfolio and then looking at how i can help individual investor structure their portfolios to meet their own investment objectives. Let me know if you like me to add you to email list for an invite to…[Read more]

Just had to read your post couple of times to get the full gist of it………and with the double employment changes, going to contracting/self employed, and on probation all while buying property I'm actually thinking your broker (and the lender) deserve some sort of award! Glad it all worked out.Cheers, and enjoy!

Great points/discussion. We are in unchartered territory again – not since after the GFC have I seen fixed rates start with a 5.I think IF you have no plans to sell your property, and are looking long term if you can get a 3 year rate that is in the 5's and you want some certainty there is nothing wrong with that. The lowest they have ever been…[Read more]

Back in 2002 you would have had to either change the loan ownership name/entity, or have singe a guarantee and indemnity. So if you did neither, (or worse failed to notify then bank!!!) then they are well within their rights so it is no use being obstinate about it. THat said, normally, a lot of this stuff only gets pick up if you are trying to…[Read more]

Hi , sorry about your situation. Make sure you get a solicitor involved. They will assist with preparing a transfer that will need to be signed by your ex to put i into your name only, and in conjunction with this you will need to apply with the bank for a new loan just in your name to pay out the joint one you had together. The bank will then pay…[Read more]

Couple of things need clarifying here I am afraid………so I will just pop a couple of F a c t s below that may clear up some of the confusion.1) If the bank orders and pays for the valuation……um…..Yes – the valuer IS working for the bank.2) Valuations are based on COMPARABLE sales only, and they have to 'get it right' or get into trouble.…[Read more]

I'll come to the rescue………IF you choose to break your agreed contract and 'exit' from a fixed rate term homeloan, you are liable to pay a 'break cost'. You get this whether your lender has no 'exit fee charges' or not, and you don't get break costs on a variable rate loan. This is specified seperately in the loan contracts, and there is…[Read more]

My thoughts are that IF you own you own home outright and have no other non tax deductable debt then by all means go for a P&I loan as the idea to building wealth is made up of three key items; reducing debt, increasing income, and selling/locking in a capital gain or profit which in this case you can do the first two – any other situation I/0…[Read more]

There is plenty of info available now – the main thing is working out what you are actually trying to achieve and want to achieve.Are you doing it becuase you have heard someone say it is a good idea, are you cashed up with super, and do you have other investment properties?????If you have cash in the SMSF to buy the property outright as opposed…[Read more]

Hi Lila,AAMI, NRMA (RACV) and Allianz are all ok for basic Land lord policies. I use AAMI mostly, but if y ou want all the bells and whistles Terri Scheer seem to be the pick if premiums are no option and you want better cover. It's all relative.Just make sure you have (some charge extra) rental income/default protection and check the major…[Read more]

Hey Jim,BIG congratulations if you have had success with a 1st National branded agency!Back on track though, how long have you had the property in Naracoorte?Cheers

Hi dbomber,Just to clarify, and at a bit of balance to a couple of the comments……A fixed rate loan is different to a variable in that is it a fixed contract between you and the lender at an AGREED amount – that you entered into by choice.  A variable rat loan, is a 'floating' rate. When you get a fixed rate loan, essentially by way of…[Read more]

I too would highly recommend esuperfund. As long as you are reasonably savvy and no how to use the internet, do internet banking, buy shares on line etc you will be laughing. When you look at the thousands you would spend between planners, accountants , bankers, bankers planners, etc etc to set up a SMSf the 'traditional way' it makes great…[Read more]

As long as you don't overcapitalize. Spending 10k on fancy stuff, overpriced plants, pergolas etc is unlikely.But………….$800 for levelling and dirt removal if required, $500 for nice topsoil, $900 for premium Sir Walter Lawn for say 70m sq, $300 to road base the drive and part of the bakc yard, and a few old bricks/pavers to make a path or…[Read more]

thecrest wrote:
It's amazing what the Council can do if they want to. ……………. I said I'd shoot the first council demolition man to set foot in my home, so they offered me a compromise……….. Cheers thecrest

Ah Crest…absolutely brilliant! Love your style – made me laugh out loud – ridiculous 'change of heart (?) by the council…[Read more]