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Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Fri, 08 Mar 2013 20:58:35 +0000

That I don't know. If it 's supposed to be on the ad, then none that I can see.

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Thu, 07 Mar 2013 06:52:36 +0000

I would still have to find someone willing to buy, and the indicators aren't good, as nothing has sold in the complex for three years.

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Shah in, the process has not

Tue, 05 Mar 2013 06:23:00 +0000

Shahin, the process has not been a success, so at this,stage the answer is no.

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Tue, 05 Mar 2013 06:20:24 +0000

Thanks for that Jamie.

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Sun, 03 Mar 2013 11:45:30 +0000

Derek, I am very conservative which is why I chose to pay my PPOR off rather than draw down funds and buy again.
My experience with property has been disappointing particularly as the usual doubling of value every ten years has not happened in my situation. But I do need to review my strategy, but want to not loose focus on the savings in the…[Read more]

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Sun, 03 Mar 2013 04:45:02 +0000

Terryw PPOR is paid off, but now the race is on to set up for retirement. However with the replies above as well as yours, I understand this will make more sense, especially as I do need to buya car in the next few years. I have an account set up to pay bills for the IP but don't know if it is an offset account (hopeless as I should know this, but…[Read more]

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Sun, 03 Mar 2013 04:38:47 +0000

Thanks for that detailed response tlm1987. You have gained a lot of info in only a few months. I have had this IP for 12 years and have made heaps of mistakes, but am hopefully getting a better grip on things now. Much appreciated this makes sense and I will investigate further.

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Sun, 03 Mar 2013 04:36:06 +0000

Thanks Derek, this is beginning to make sense to me. I had assumed money in an offset account attached to an IP loan would only be able to be used for payments related to the IP.

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Sat, 02 Mar 2013 21:33:29 +0000

Are you saying that if I put money into an offset, I could redraw it later say to buy shares or even personal expenses?

Bugaloo replied to the topic Should I pay down loan on negative geared property in the forum Help Needed!

Sat, 02 Mar 2013 21:32:06 +0000

From memory I would need to reduce the loan by about 50,000 to get to cash pos, as the property is a unit with high body corporate fees etc.so this would take me about 5 years. For me it's not about tax breaks I want to get to an income producing assessor in about 10 years if possible when I retire.

Bugaloo replied to the topic IP at Gold Coast? in the forum General Property

Sat, 02 Mar 2013 12:29:22 +0000

Steer clear of Beenleigh. Have been in since 2000, minimal capital growth and numerous tenancy issues, property manager issues. Can't sell, nothing selling for over three years.