[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 8, 2013 - 8:58 pm

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

[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 7, 2013 - 6:52 am

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.

[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 5, 2013 - 6:23 am

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

[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 5, 2013 - 6:20 am

Thanks for that Jamie.

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March 3, 2013 - 11:45 am

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 meantime, which is why I like the offset account idea for parking money.

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March 3, 2013 - 4:45 am

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 it was only last year that heard about a change in a tax ruling where it said that it wasn't a good idea to pay rent off PPOR's because this could compromise tax deductions, so I set up the account to pay rent into and pay bills out off. It is also where the interest payments come from, so could be an offset. ). Thanks for the response. I will talk to my bank this week.

[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 3, 2013 - 4:38 am

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.

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March 3, 2013 - 4:36 am

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.

[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 2, 2013 - 9:33 pm

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

[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 2, 2013 - 9:32 pm

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.

[BugalooParticipant@bugalooJoin Date: 2013Post Count: 12]

March 2, 2013 - 12:29 pm

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.