Thanks guys so much for the advice. I aim is to buy and hold long term. I would prefer that to buy and sell, too much tax and headaches.I am in the position to buy one now if i wanted to, but cant really spend as much money. I would like to preferably buy a house unit as apposed to apartments because I like the thought of land. I would assume that…[Read more]

Also, how can i find out what yield the property has? What percentage is considered 'good'?thanks.

I heard that the market is steady at the moment. I'm just worried that if i buy now, and property starts to get cheaper later on in the year, i'll be kicking myself!Thanks for your advice.

Can someone recommend a property accountant in the south eastern suburbs of Melbourne?thanks,

Good question, I'm interested in the exact same thing!

Anyone got any suggestions of good books or which website is good for getting more knowledge of the property investment game?thanks

Hi guys, thank you so much for your advice. Daniel, where do you suggest that i could go to learn about these 'property investing, investor concepts and investing psychology'? Should I read some books? If so, which books do you recommend? I dont know where I should go to learn about all these investing knowhows. Or do you suggest that i seek a…[Read more]

duckster wrote:
You need to consider if Libra76 will be taking time off work for maternity needs as negative gearing affects family payments

Alot of interesting info here, its going to take me a while to have it sink into my brain!This one particular statement has gotten me? My partner and I are thinking about buying our first IP end of this…[Read more]

Now i'm starting to understand it more.!!I was just wondering, would the bank say that because they are afraid that you might default on the other home loan?

Terryw wrote:
You would generally have all monies going into the offset and all repayments coming out of this.

Hi Terry,Would this method save you much money? If the money goes in from rent, and out again for mortgage repayment, when does it actually offset your mortgage?thanks.

Thank you so much, i'm learning so much lately!!

Terryw wrote:
Your existing loan is separate, so that won't change.The LOC will have a limit of $120,000 but a balance of nil initially. When you take out $30,000 you will only pay interest on this amount. this would be loan 2 as described above.The other way is$320,000 existing loan secured by…[Read more]

Terryw wrote:
If you get this as a LOC then you only pay interest on the amount drawn dawn.When you put the 10% deposit down you take it from the LOC and borrow the rest from the same or another lender.Most people do it the other way, the crossing of securities, but this is not a good idea.

Terry, I totally forgot about the fact that i was only…[Read more]

Thanks Terry for the advice. I'm still abit confused on the example of using your PPOR as security? What does it mean to use both the places as securites against each other?I understand the second part, and I think this is the way which my broker told me to go. Here is my situation. My PPOR is roughly valued at $550k, i have a loan of $320k, that…[Read more]

Sorry if this sounds noobish (which i am!), but what does it mean when a property is secured by other properties? I've got a PPOR atm but looking to buy an IP and using the equity in my PPOR to finance the purchase of the IP. Any info/advise would help. Sorry to hijack the thread!Thanks.

Are buyers agent fees only claimable when you sell your IP?So if you plan on keeping your IP, you'll never see any of that money back?

Thanks Evolve for your advice. When my mortgage broker told me that i could afford an IP, we were really excited. But as you said, she's probably just wanting the commission from my loan. So that's why i'm trying to read and understand this forum so that i am better aware of how it all works before I jump into anything.cheers!

Thanks Terry. I think I will stick to my original plan and just buy our IP under our names. Makes it nice and simple!Cheers.

Thanks Terry for your reply.To answer your question, its just myself and my husband: -We would like to buy in Vic (melb)-No risk of litigation whatsoever!-We currently have a joint income of around $120k-when you say 'family income' do you ask whether i'm from a rich family? if so, then definitely not haha-no kids yet, but will start in another 2…[Read more]