All good mate. Whatever you go into you need to feel good about it or it may turn you off future investing. So take some more time to find out where and what you want to buy and then get it done.

As I said earlier the first one is always the hardest so get it out of the way asap and then go hard!

Steve.

Seb,

I am you, but 10 years down the track. I joined the forum in 2003 and am now 29 (with the big three oh not far away!). 

I started out like you as well, researching tirelessly and trying to learn from others. The advice I would give you is don't look for a single mentor. One person's method and ideologies are more than likely going to be…[Read more]

eloi,At this stage in the economic cycle, Banker is right. There are VERY FEW non-bank lenders who are going to be able to offer the same deals as the big 4 at this point in time, and that will probably stay the same for at least another couple of years. I am aware of the recent economic reasons why 95% of mortgages in this country are now with…[Read more]

Terry, That article is a bit of a worry as it goes against some common advice being given to property investors. I'd be interested to read about any similar cases you know of, or any which arise in the near future. Thanks for the reference.

Figc, I am sure Richard will explain in detail, however having an Interest Only loan with an Offset account gives you the same identical interest cost as paying down a P&I loan, however with greater flexibility. There are some great posts on this around the forums (probably 50% of them are from Richard), so perhaps have a look around and then fire…[Read more]

I have to agree with Banker here (and not just because I am one). IMO the 4 banks WILL raise rates independently of the RBA due to higher funding costs. Whilst all the advertising, marketing, sponsorship etc goes into trying to impress the customer, the end game is shareholder returns and the margin squeeze coming over the next 6-12 months will…[Read more]

DWolfe wrote:
Hehehe, Philip, I thought it amusing that at 20 he is already bearish about the market. I'll never be able to change ummesters mind. Roar bears Yeah the market is changing and very quickly.Mooooooo! LOLD 

Wow D… how is it that you are the only one flying the flag… have I been gone that long? It must be time to buy!! So just 2…[Read more]

Hi Terry, Sorry to bring up an old post, but do you know how many times the "Natural Love and Affection" transfer clause can be used? Cheers,Steve.

How about we have the discussion here instead?

hi coolharry, The first question I would ask you is whether or not there is any chance you might rent the house out at some point. If so, keep the offset account as you need to preserve the balance of the loan in case you change the PPOR to an IP and need the cash to buy another IP. This way you will have more cash available for the new PPOR…[Read more]

Tracey – Love the idea about specifying the pets – Will remember this for the future! Thanks

Hi Daniel, Your mentioned the "remaining" mortgage amount.My first suggestion would be to change the principal and interest loan over to an interest only loan with a 100% offset.This way, you can keep all the money in the offset for when you buy a PPOR, and still preserve the deductibility of the investment property when you pull the cash out.In…[Read more]

Hi keiko, I left a message for the BC yesterday, so hopefully I will hear on that one soon. Thanks for the suggestion.

Thanks guys. PM will get back to me tomorrow regarding the additional bond and an alteration to the wording of the lease. Will let you know how it goes…

hi thecrest, sorry about the private company – did a quick search without reading through the page I'll make it up to you by posting any proper articles or opinions i pick up once more info becomes available.

Thanks Sonya – I'll google it tomorrow to see what else comes up.

http://www.henryreview.com.au/Free newsletter and e-mail alert if you want to know information as it is released.

Another great idea D – I'll canvas that with the PM tomorrow as well…Would you mind sending over a copy of one of your leases that has the wording for the pet bond in it?I am now thinking: – Make a point to the tenant that we are happy to keep rental the same- Sign a new 12 month lease with clauses regarding damage caused by pets and a mandatory…[Read more]

Thanks for the reply Danny.The unit has wooden floors so hopefully no pet smell, but I like the idea of holding a higher bond amount. My partner raised a point that there could be wall or floor scratch marks from the cat, so perhaps 6 weeks bond, instead of 4 might cover any contingency there. I've left a message for my PM to call me tomorrow so…[Read more]

hi milkshaker, Terry is right – no GST in your example.