Interesting – it is a few years since we drove through Moree, but at lunch time, in the public park in the main st, with 3 little kids even, we felt VERY uncomfortable with some of the 'aimless wandering tribes' there……just looking for trouble leaving a wake of vandalism after them.  Man, I can only imagine a Fri or Sat evening there now. Scary stuff.

Yes, sadly. The real guts of the matter is why would you work for someone else as 'self employed', self funded, and with no employment security whatsover for commission only, while you build up a pipeline of pending clients and deals, and could get shafted at ANY time with no recourse whatsoever, when you could do it for yourself. I assume you are looking at Aussie as a broker for yourself only, rather than with an exisitng guy? If so, that would make much more sense of the two options. Just check the Aussie website and see how many Aussie brokers there are in your area first though, or that have rights to cover it…..you may get an unpleasant surprise. All the best.

Hey Moolah,
The good news is that if you get out now just as is at market value, over 25 years ownership you'll walk away with significant profit/growth anyway……which is not yours unless you do one of two things – 1) Sell it. 2) Borrow against it.
Mate, if you are doing  (or believe you may do) more damage to your health and or  emotions by keeping the property, it is not worth any more stress or anxiety than you may already have. No matter how ggod the property is (and yours sounds like it is not anyway) the wrong memories with it can stuff it up all together regardless. Sounds like you've made up your mind. Move on. What does that Nike add say again?  (Come on now…'Just do it' Remember?   ) All the best – there will be plenty of other options for you down the track. Cheers. 

Hi Peter – welcome to the forum, and a big congratualtions on what you have achieved so far. Great stuff.
Couple of things I might add, although I really did think about cutting and pasting Terry's comments…..
In no particular order…….
You don't mention wheter you own your PPOR or or not Peter? If so—-good on you, and then depending on your future plans, don't at all be afraid to put extra into your IP's – why pay interest if you don't have to, and that is where an offset account may indeed be suitablle – if you expect to have money that needs 'parking' or that you want the flexiblity to 'remove' your money later for whatever purpose…….

I am a big believer (of the record of course…) of using a bank  (non securitised lender) IF (big if) you have a deposit of at least 20%, are borrowing more than $250k, and have plans for buying/controlling more than a mill of property – if not, it is a greyer area, and open slather s far as lenders go – in my opinion.

One thing I will say, re your Port Elliot block Peter, seriously January is almost here, and how long would it take you to 'save' or make via capital growth the amoungt of money you will save by getting the CGT discount on the land. Wait. If you are fired up and raring to buy now, it would make more sense to use your 50k in the cash account from what you have said, to fund a 20% deposit on a house, then look at accessing equity via a LOC on your own home.

Don't br afraid to cross collatorise if you are only going to have two properties together with that lender, and it saves you money, and you don't plan on selling for several years.
All the best – you're half way there!

Not financial advice – just a great idea!

Hi. A lot would depend on your LVR and the property value before I could give you my personal opinion, but if you have a bit in it, and want some cashflow relief, depending on the actual Rams loan you have, biting the bullet and refinancing into a fixed rate loan with the likes of NAB or St George @ current fixed rate specials  (7.59%) may be enough to grin and bear the discharge fee, (against future gains??) and get the repayments down for you to hang onto it. However if you have to go lo doc, (I am assuming your loan is variable) you will likely be better off just leaving things as they are. Sadly, I don't envisage you getting a cheaper rate from your current lender in the near future, and their new fixed rates are not at all competitive. Without more specifics though I'll leave it at that. All the best, and hope you get some growth down the track. Cheers.

It depends on the lender, and the broker – BUT PLEASE remember that if the broker does not get this, the bank does. So don't be too hard on the guys……… Work out your lenders interest for a few months and you will see where the money comes from…..
A franchised broker would likely make between 0.2 and 0.44 % of the deal – an 'independant' one anything from 0.66 to 0.8 .at the highest end. ( so in your scenarion, between $2200 &$ $4000)    The brokers that encourage you to buy one of their 'own brand ' loans, which are essentially 'wholesale loans' with whatever margin they please added on and given a fancy name make a truck load though, with the 'bank said no' type 'brokers' making a ton this way…….- generally I suggest running a mile from these.  And yes, a small trail commission is paid monthly on their 'loan book'. Fair enough the trail for sure. So, while it may sound a lot (it is in some cases) bear in mind a broker gets nothing for no deal, and also if they are fair dinkum have to pay staff, and premises, as well as all those 'community sponsorships' that seem part of having a retail premises, and as mentioned, the bank gets it otherwise…….SO……. make sure you make the broker earn their money, with plenty of questions, and do not hesitate to ask for help. A sidepoint…….. if you don't get paid unless you get the loan, you can imagine it is in the brokers interests to work hard to make sure your deal goes through is'nt it?  Hope that helps. Cheers 

First Home Owners Grant

COngratuations on the climb! That's an achievement and a half. Now…..on your salary, with your tenacity it should be a snack to significantly reduce your huge personal debt level to something more manageable, and then look at borrowing. Makes much more sense from where I am. If you feel you are in too much in to do anything, I would not hestiate to sell one of your properties to help remove that debt, (or your share of it) and then go the other way – save a small deposit and buy another IP once you have taken care of your own home with the sale funds and your savings.
Another strategy, if you can buy right in an up market, is that many lenders would consider topping up your loan after as little as 6 mths against a new higher valuation, at which point you could use this extra to consolidate whatever debt you still have.

Maybe sell the Audi too!   Not financial advice, just personal opinion on some options.

All the best!  

Hi Ken. It is just as if it was your own property – you pay for outgoings and costs – the differerence being rates, repairs, insurance and managemet fees all all tax deductable – as is loan interest. Major improvements or replacements are depreciated' or 'written' off over a period of years.
Rental received is assessable income.
Thats about that. You will find plenty of info on the ATO website easily re the specifics.
All the best.

Hello Andy. It has been three days since I replied to a post on this website. …….one day at a time. So here goes……Look, I appreciate you mean well and all but for your own advantage and financial well being would it not be better to 'allude' to a "Renovators Who Are Not Tradies Anonymous"?  meeting in the form of a seminar …… Then charge tradies who shouldnt be tradies, tradies who are tradies, tradies who should be tradies, and renevators who are not tradies along to this 'seminar' with a heavily inflated price, which you could then not quite as heavily discount, AND then only skim over the critical details on what makes a good 'Renevator who is not a tradie', have a few other speakers who have experience in at least three of the areas you list also speak there, without revealing any information at all unless all potenetial 'Renovators who are not tradies' buy your 'very special top secret master pack all in one workshop bootcamp pass'' with bonus materials and free DVD showing never before hidden picutres of unsupecting renovators who are not tradies sampling a refreshing yet cleansing burst of  pure elbow jolting arm spasaming 240 volts in a variety of' special 'home renovator' scenarios and secret locations' and thus save you the frustration of having to do any more actual hands on renovating, as you can fund your own projects using all this money? At least give it some thought.