Forum Replies Created
Hi Muppet, Westan & Diamond,
Missed you all by a few days. Arrived home Tuesday 22nd.
We will have to catch up next time!
Great countryside. It’s a pity all the good deals are gone (he he).[
]Del
Hi Betty,
As Mortgage Hunter said, it is quite easy.
You shouldn’t have to provide figures for the company. Simply your own taxation returns. As he said, you will have to guarantee the loan.
By the way, we nearly missed out on 2 good properties, because we bought in a Trust name, and our Trust Deed wasn’t ready. Be careful.
Talk to you soon,
Del [
]Hi lifestyle,
I totally agree with Stu (Geurilla).
We have 2 girls aged almost 5 and almost 6. They love our property business. We have named our Trust “Saraclo”, after their names Sarah & Chloe. They now think that they own blocks of units and houses.[
]The girls always point out older types of houses that have “for sale” signs on them, and say “mummy here’s one!! I love their input, and even though they DO still get tired of looking through house after house, they understand why we are doing it. They are learning lots about what and why we’re doing this, and I’m sure that they will have their heads screwed on the right way, when it comes to money, in a few years.
They are getting the best education from us, and understanding that it is good to save money.
Regards,
Del
Hi Prop16
Try this link,it has been talked about before!
Del went and thought it was good, but she is away for a few days now.https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=3449
Hey Leigh,don’t you mean old chooks..[
][]Good luck
Will.
Hi Scremin,
Because when you use a LOC, you are using 80% stand alone loan, 20% deposit from LOC, and 5% s/duty & costs from LOC. 105% finance.
If you pay out your PPOR, get rid of your LOC all that debit interest that you pay every month on your LOC, suddenly goes directly to YOU !!
The difference in the figures is amazing!
Also, with our PPOR, we would only be able to access 80% for a LOC, which is leaving too much money lying around not working for us!
If you flick through the past posts, a few days ago there was an interesting post called “Sell home, rent & Invest”.
Del [
]Hi Steph & Leigh,
All our loans so far have been P&I. If we wrap the loan will DEFINATELY be P&I. Things have changed recently now that we’re selling our home, and getting rid of our LOC etc (reducing our “bad” debt).
We have talked about having 3 x P&I loans, to 1 x IO loan, and keeping the majority reducing our overall debt, but with one with good prospect for capital gain at Interest only. 3:1 ratio sounds OK to us at the moment, but no doubt we will reassess things in 12 months or so.
Our main reasoning for P&I is if something happens to one of us, we don’t want the other left with hundreds of thousands of debt!!
What are your thoughts?
Have a great week all,[
]Del
Crashy,
Negative gearing has its place.
It is great for higher taxed people especially self employed.
Why just give that extra tax to the Govt??
I’d rather pay off a house that will gain in value, than giving XXX thousand to Little Johny. He gets enough.
Oh, I don’t have any negative geared ppty. Only positive. I’ve been tempted because of the tax issues, however, it will restrict my positive cashflow purchases. That to me is the worst thing about negative geared ppty. The banks stop lending to you.
Just an amateur’s opinion.[
]Del
Hi AD,
Thanks for your thoughts.
It does look like a small revolution.
Perhaps we could blame the “Today Tonight” show!![
]Good nite all,
Del
Andy,
It’s great that we are not the only ones silly enough to do such a thing!!
Only joking – I wish you success.[
]
Actually – I wish us both success. []Del
Westan,
Hi and thankyou. Yes I definately agree with what you said about deals being harder to find. It would be awful if you sold the home you love to do “investing”, only to find that the “deals” are few and far between.
It would make your decision seem like such a waste.[
]It IS hard to find deals, but if you really are “out there” and ringing agents on a regular basis, you should still find them. You will probably have to expect to look further afield than what you would like to.
If you don’t mind where your IP is, and I mean interstate etc, then I would say “JUST DO IT – SELL, SELL, SELL, sounds like it will be worthwhile for you.
Best of luck,
Del
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