Total Members: 151,904

BenJones

  • Thanks for the replies.
    M.H, I’ll speak to my accountant about the offset account when I get back to Oz in December.
    Sounds good,
    Ben.

  • Thanks for the feedback.
    I am also thinking about IO loans for the next couple of mortgages to increase the likelihood of cf+. Maybe even paying more than 20% deposit for IPs (if possible), using the LOC.
    Any experience or advice with this?

  • BenJones replied to the topic Line of Credit questions in the forum No Subject 17 years ago

    Hi Georgisj,
    Thanks for your comment there. You got in before me and answered my question re. the LOC being takien into account in future borrowing. All the more reason to be very disciplined with the LOC.

    Question: Did you (or anyone reading this) apply for the maximum ammount for your LOC or did you go for less than you could have? Just want to…[Read more]

  • Thanks Shushbar,

    So am I right in assuming that all of the current equity will be tied up in the LOC if I was to apply for the maximum ammount? ie. Once the LOC is established the equity is then used up even though it’s not spent?

    Probably an obvious question for a seasoned investor, but a complex enough one for me at this stage[?].

    Comments welcome :)

  • Ask the paint store for ‘mis-tints’ for your gutters or metal garage. This paint has been coloured for another customer and they decided not to but it for whatever reason. I got a 10lt tin of solargard for my guttering and they kept tinting it till it was the color I wanted and it cost less than 1/2 original price.

  • Start my own religion?

    Or, turn it into a 2 bdrm cottage; combine the toilets into one bthrm, simple kitchen, bag the brickwork and stick in an easy care garden, put up a fence and clothesline, generally make it a nice place. Maybe a fireplace. The floors are already done.

  • I’ve got landlords insurance with alianz (was colonial) and that covers everything (I’m pretty sure[?]) such as public liability, building and tenant damage etc. Must check to confirm now that you’ve bought the topic up.

  • I’m in Sth Korea working as an English teacher. The deal is free rent, free return flight, not bad pay and low cost of living which = high saving potential. I seem to have a fair bit of time on my hands which allows me to spend it on the net as BB here is cheap and is the norm (no-one has modem connections) so I’m zipping all over the sites, less…[Read more]

  • BenJones replied to the topic Dual Occupancy in the forum General Property 17 years ago

    I have a dual occy in Canberra and as such, am able to get significantly more rental return than if it was a normal 3 bdrm. Luckily for me the work was done before purchasing, such as: 2 driveways (one with carport and one with garage), 2 clotheslines, seperate electricity meters, 2 water heaters, phonelines, and most importantly it has divided…[Read more]

  • My property is a dual occupancy 2 bdrm + 1 bdrm, seperatley metered etc but all under the same roof. As I was renting out the 2 bdrm while I was in the 1 bdrm as my PPOR I was able to claim 70% on such things as land tax and rates. 70% was considered to be the ammount of the property being rented, going off the house plans. I’m not there atm (and…[Read more]

  • BenJones replied to the topic Being Prepared in the forum No Subject 17 years ago

    Ben if you dont want the hassle of coming back to OZ ill send u my bank details and ill go buy a place hehe
    Hey ta. I’ll keep that in mind[;)]

    Time saving? Internet to look for the properties- should give you an idea of what youre after I spose
    Yeah, doing plenty of that from here. I don’t seem to get many email replies from local REs when I…[Read more]

  • Thanks to pisces 133 and Steve for your replies. pisces I’ve sent you an email, and I’ll chase up Stuart from Steve’s reply, then try to put the important points together in an answer on this thread as soon as I know.

    Thanks and Happy New Year to all on this forum.

  • Thanks for the help folks. A big WOW to the usefulness of this forum. Wish I’d found it sooner as I could have got shaking on a few things by now.

  • 1) When you purchased your investment?
    2) How much you paid for it?
    3) What structure is the investment (eg: buy and hold, vendor wrapping etc.)?
    4) What is the weekly gross rent (income)?
    5) What your net Cash Flow is?

    1. Start of 2001.
    2. $170,000.(valued recently @ $340,000)
    3. Buy and hold.
    4. $385
    5. Not quite sure what you mean as I’m…[Read more]

BenJones

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