I dont understand why you cant use the cash in you offset account towards your new ppor  ??? I was planning on doing the same thing in a few years

got it fixed guys, something in the hot water system had blown. got a guy to fix it yesterday, thanks for the advice.

Thanks for the info Terry, the loan we have set up doesnt have an offset available but will definitely look to change in the new year. We went with our current loan because it has a lower interest rate than one with an offset account.

So, in my case we will have about 180k io loan, with no offset account. so we would be better off just paying the min and then pumping any extra cash into some other avenue than paying it down?With your example above what if the you redraw 40k for an ip or other investment (not a boat)?

Good info terry, I am in the same position as dnh, I have just bought a place for 235, and will have about 180 loan, going to make it io. The loan wont have offset, only redraw, however it sounds like this doesn't matter and is in fact beneficial. Can you give a broad overview of when redraw is better and when offset is better? Does it change…[Read more]

Thanks qlds, I will talk to the broker tomorrow about getting an interest only loan with an offset account. Will this affect my fhog? (I sent through the paperwork on Friday).

Qlds, thanks for the advice, although you have misread my post, it is good to know for when we do eventually get an ip. So, hypothetically in a few years we get an ip. We should get an interest only loan using our ppor, would the interest only loan be for the whole amount or for the deposit?

We have no other debts of any kind

I have no idea about those questions (sorry). Have you tried emailing agents over there, I knwo it might not be the best information but they might be able to give you some numbers to work with. Also you could try and find an american property forum like this one. Sorry i cant be of more help.

censor me and bar your kids from the lessons I…[Read more]

I admit i didnt keep in touch with them. But they didnt keep me informed either. I am mad they let it go almost 10 weeks before they did anything, let alone even send me an email/phone call notifying me of the problem. I will definitely be more active in contacting my pm from now on.

censor me and bar your kids from the lessons I learned -…[Read more]

I started investing at 19, when I got my first real job. I have 1 investment property in broken hill, and aroun 8k in shares. Only real diffuculties were the slowness in the bank of approving my loan and getting all the paperwork and stuff from them. I dont have any immediate plans for another, I am going to go live overseas for a few years, I…[Read more]

ok good idea,
I was just wondering what the step by step processes you took for getting the property were. I have one i like and wanted people with personal experience to tell their story. My main questions are where it is, how you financed it, do you converti t to $aus etc. how yuo get paid rent etc. What are the main problems you have found with…[Read more]

Bigben,
Im from Newcastle,
the areas you have mentioned are sort of the “lower class” areas(not that im high class), but the socioeconomic status is lower, while there is still some nice houses around there, I wouldnt buy there if i had the choice, the best advice i could give is to come down/up here and pay us a visit. I`ll try and think of a few…[Read more]