Hi Pat, You will certainly find some motivating stories around the forums – and many of them come from people with average incomes, minimal capital, and several kids too!I hope you enjoy your time here, and best of luck with your plans!

Thanks Dan, I tend to agree with you on the extra charge point. With regards to an agreement about cleanliness of grounds and dwelling, I think this is a little too hard to define and near impossible to monitor. I'll think about it some more though. Any other thoughts/ideas?

except LMI

Oh but wait… the property market might have crashed by then!?

I definitely agree. There's only so much info you can gather about a place without actually being there.Schedule it in for Late April, early May

Hi dbliss, It could be fear of losing money, or it could be"analysis paralysis" (something I suffered from , but got through due to the people around me pushing me to take action!!)"Analysis paralysis is where you can’t take any action due to over thinking about the details or over planning and is one of the best “action” killers we can possi…[Read more]

No probs. Like I said, I'm still a fan of Interest Only & Offset!Until next time!

Agree to disagree?

You say you are interested, however seem quite sure that "non are good reasons" of what I have provided so far, so this is the last time I will explain. 1. Just because both add up to you doesn't mean that both will add up to the financier –  The servicing capacity concerns are still there for the bank as the person borrowing the cash could take…[Read more]

1. Despite having large amounts of cash in offset accounts, the bank may stop lending to you at a cetain debt level – For instance, even if some people have loans which are fully covered by offset cash, the bank will still only lend up to a cetain level based on serviceability if the borrower was to remove the cash the next day and spend it all on…[Read more]

Haha, I thought you might like that suggestion D I do most of my shopping online, but need to get out and pound the pavement more often, so lets do it!I'd be up for drive out West even if you're interested – It seems to have the only cheap property within 30 mins of the city these days – Surely not for too much longer.I'll PM you the property i'm…[Read more]

number 8, There are several, but never mind, you probably wouldn't be interested.

I think I overheard DWolfe saying that she wanted to take us all through one of their development projects. Something about a 3 unit site at Box Hill?

Hi Tim, No, unfortunately payments of principal can not be claimed as a tax deduction. As a general rule, it is only costs incurred in the earning of your investment income which can be claimed. eg: Interest is a cost of the principal of the loan, but the principal itself is not a cost or an expense.

Hey Christian, I would love to read it and provide some feedback. I am relatively inexperienced with development, which is probably the same as the majority of forumites. I can tell you all 'newbie' things that it doesn't cover which you might assume that people already know. Will PM you my details if you are interested.

One word, Delfin

Hi Amie, Do you have an offset against the Variable Rate Loan?  (It is not possible to have an offset account against a fixed rate loan). If so, put all the money in there so you are saving interest, but still keeping the cash available for another purchase.

IZ, just to expand on Richard's comment, it is a good idea to set up an offset account for each new property anyway, even if you still have some non-deductible debt.As Richard said, you would put all spare cash into the offset account against the non-deductible debt until such time as it is repaid in full, however it is good to get the structure…[Read more]

Could also be as low as 7% for this type of deal.

it was up this morning!