[BarlowParticipant@barlow606Join Date: 2015Post Count: 35]

December 1, 2015 - 11:36 am

Thanks for the input fellas… I think your right.. Regardless of the short term movements in market, history as shown that over long term investment property has always grown in value. I think I will continue to stick to my goals and get into the market as soon as my situation and finances allow me. Even if times get tuff I will strive to find a way to make it work… Appreciate your time

[BarlowParticipant@barlow606Join Date: 2015Post Count: 35]

November 19, 2015 - 12:50 pm

Thanks Richard,

This is the type of advice I’m willing to learn from. Not sure how much detail I am supposed to put on here in terms of my financial situation but it seems everyone is here to help.

My situation is I had a really good Morgage broker, who has recently left that side of his business to his 2IC which I don’t have as much faith in.

Any way just had valuation on the house 2 weeks ago and come back with a fairly reserved valuation of $450k (we owe $350k)… We have split loan $300k Fixed principal + interest (for another 2 years) and $50k interest only variable.

Due to the fixed interest portion of the loan I was told that it limits my options as to refinancing until that period is up, otherwise risk being charged break free fees

But I appreciate your input none the less

[BarlowParticipant@barlow606Join Date: 2015Post Count: 35]

November 19, 2015 - 9:14 am

Thank you all. Yes I should have been more clear, as it is our own home our accessible equity is only around $20k without refinancing for more than 80% of the value of our home.

So due to this and the $18k finance on the the car we are probably looking at 12 – 24 months before being in a position.

Our goal in that time is to pay off the car debt in full and save some cash to cover associated cost of investment property such as stamp duty, conveyancing, etc and build a bit more equity in our own home

• This reply was modified 8 years, 6 months ago by  Barlow. Reason: Wrong term

[BarlowParticipant@barlow606Join Date: 2015Post Count: 35]

November 16, 2015 - 8:59 am

Cheers fellas,

Yes I agree I feel lucky to have found this forum,

Turns out we are probably 12 – 18 months away from a position to get into the investment market. I’d prefer to have found this out now and gives me time to do my research.

Thank you all once again

[BarlowParticipant@barlow606Join Date: 2015Post Count: 35]

November 4, 2015 - 2:09 pm

Cheers for the advice Jamie,

Booked an appointment with my mortgage broker tonight. Seems like he and his accountant are more into doing things through SMSF’s tho.

I don’t really want to lock everything into super. If prefer to make it happen out here in the real world

[BarlowParticipant@barlow606Join Date: 2015Post Count: 35]

November 3, 2015 - 8:52 pm

Thank you Corey,
Appreciate your time and advice. Basically I am still at the initial stage of gaining as much information as I want.
My long term goal is to pay my Morgage off ASAP and have at least 2 investment properties.
Short term goal is to learn how to set myself up with an investment property that I can then uses to minimise my tax and find ways to pay my Morgage off.

I read your article and appreciate the advice once again

• This reply was modified 8 years, 6 months ago by  Barlow.