kaloni,

If you have no debt, shares, savings , IP’s and PPOR all paid off, then I would guess you could borrow 100% plus costs for your next IP.

James

Keep the posts coming Chan…Fight the power brother!

James

How about the will kits that you can buy from newsagencies…Wouldn’t they suffice?

James

Dereksam,

Just some background information.

I heard the other day that MH do not have the CBA in their suit of loan products…Some dispute between the two organisations on training(?) costs. The other motgage brokers might be closer to the scene.

James

Soleil,

Try this link http://www.national.com.au/Personal_Finance/Calculators/hlspcc/hlspcc.php?page=both

Normal agents selling commission can be around 2% plus advertising (if you agree).

James

Thanks…Will give them a call for my next purchase in QLD.

Thanks
James

Onshow,

This happened to apartments at Dorcas Street South Melbourne just recently.

A friend of a friend had purchased and had only later found out that part (the lower floors) were designated for Quest Serviced Apartments. There was nothing in the contract which allowed him to void the contract.

Check with your solicitor and the contract. I…[Read more]

Dom,

An example

Loan: $300k
Term: 30 years
Interest
Rate: 7%

Principal & Interest
P&I: 1995.91

Principal repayment component starts at $245.91 in the first month and increases by $1.50 per month.
Principal remaining (after 5 years): $282,394.59

Interest Only
I/O payment: $1750
Principal remaining (after 5 years): $300,000

You are…[Read more]

Benson,

The house is too hot in winter???

Ultimately, you need to reference what other properties with a/c are renting for in your area. Sometimes, whilst it seems like a good idea to put it in, it doesn’t necessarily mean that you can charge more. It may however assist in keeping tenants or attracting new tenants more quickly when…[Read more]

Marisa, just highlight the avatar (that’s what its called believe it or not) in your personal profile. Then press update to your proflie. This should do it.

James

Fantastic question let me say…I wish I had the foresight to think of that when I was 17.

Start with books first…..Suggested first up reads would be (in addition to what Lumwood suggested).

1.Richest Man in Babylon (Clason, G.)
2. The Big Shift – The Bernard Salt Report, (Salt,

Other Advice (this will sound like your parents)
1. Keep adding…[Read more]

DC,

Stamp duty is not deductible. It can be claimed to reduce the cost base of the property when you sell, in order to establish the CGT liability.

More changes are being mooted to depreciation by the ATO. Have a look at the following forum topics…[Read more]

Can you get an I/O loan on your PPOR?

I always had the impression that this was for investments only.

James

Elves,
I know that I would to examine current outgoings to see whether I could at least recover some odf that lost benefit.

Depending on the rental market that your IP is in, you may be able to do something with the rent…

James

To clarify, the actual fee is $950. However, ther are sundry outlays, including many searces, which, when reading the letter in more detail, is actually asking me whether I want to proceed with these searches. This is a draft invoice…

James

Ozboy,

Council & water rates
land tax
legal expenses
property management fees
accounting fees
travel
insurance
cleaning
bank fees
advertising for tenants

James

DC,

Can only consence with the other sentiments. I am curently paying 7% in Melbourne and 7.5% in Qld. Letting fee is 1.5 weeks

James

Ozboy,
The normal cost for a TDS is approximately $500 to $700.

James

Midas,

Was mentioned earlier in a couple of posts. Some perspective though.

Lets assume most new residences would have approximately $10k in depreciation benefits. If its a 15% reduction, this means $1500 loss of benefits.

Based on the following tax rates, this means the following bottom line impact.

On a marginal tax rate of 48.5%, the…[Read more]

Chan,

I have received some information in the mail about him, which is really advertising his 2 day course, but I don’t know much more about him at the moment.

I know he is into +ve CF properties, asset protection and ome off-shore investing, but that’s about it….

James