Hi Anthony,
Thank you very much. Spoke with mortgage broker this week. Found out more about the PAYG variation so will see an accountant also in the next couple of weeks. The rent I currently get is above rents for the area so am lucky with that but yes definately in the next 6 months need to review. And thank you for the recommendation of the book, I'll certainly put that on my shopping list. I'm feeling much more settled and in control again now, just took bad advice before and lost a lot of money in the process. All the info and help from here has put me back on track and less scared of the future.
Thanks again,
Debbie
debbiemc wrote:And thank you for the recommendation of the book, I'll certainly put that on my shopping list.Put the $20 into an offset account and borrow the book for free from the library
Just joking, you can’t put a dollar figure on the knowledge that the book provides.Here’s a link to it on ebay if that helps – http://www.ebay.com.au/itm/BUILDING-WEALTH-THROUGH-INVESTMENT-PROPERTY-Jan-Somers-/160603564620?pt=AU_Non_Fiction_Books_2&hash=item2564b7ea4c
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
: ) thanks, ebaying now!
Good luck! Sometimes you’ll see packaged deals where there’s a heap of IP books. A few years ago I picked up 6 or so books for about $20.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Debbie,
I own a property investment business and am based in Noosa Heads. Without trying to sell you a property here our network/team are all based on the sunshine coast and provide their own professional experience and charge accordingly as any other professional may. I am always happy to help a local and sit down and have a coffee and run through how i hold 15 properties at once. It is quite easy once you crunch the numbers and make everything work to your advantage.
If you need a good accountant on the coast to maximise your gains and do the Variation Form than i am happy to refer you to mine.
property investing is easy when you have the right team around you who know what they are talking about and are all experienced in property. Anyway the offer is there. No skin off my nose either which way if you wanted some advise in general in person.
Good luck!
Josh
Hi Deb,
Here's a solution, however it may not be suitable for your risk acceptance level.
With 180k cash, you could get a positive investment property in either South Hedland (WA), Karratha (WA), Dysart (QLD), Moranabh (QLD). As the rental return in these areas are about 10-14%, it should generate enough cash flow to balance your other property. Depends on the value of the property, you could be getting $1-3k per month which could be used to offset your negatively geared property. In addition, since these properties are positvely geared, as long as you have enough deposit, obtaining finance from the bank shouldn't be a problem (as rental will be counted as income)
This could give you more times to hold onto your negatively geared property without selling it in an discount (unless you have to sell it asap because the property has fundatmentally lost its value)
However this could be a risky move.
I'm living in a mining town, hence my risk acceptance level is higher.
Apart from doing extensive researches, you will also need to look at your long term goals and risk acceptance level before making such investment decision.
Cheers
Talismans
Just joking, you can’t put a dollar figure on the knowledge that the book provides.
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