[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 30, 2010 - 1:21 pm

Yes Savvy knock down the price , It will cost you money to remove these items so deff point this out and have the price knocked down  Good Luck

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 30, 2010 - 1:04 pm

Malmsbury Central Vic , Smack bang and central to Melbourne Bendigo & Ballarat , almost moved once coudn't do it

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 30, 2010 - 12:50 pm

Terryw wrote:

I explained it above:

Putting money into a LOC will save you interest but will cost you in tax.

Everytime you place money into the account it is a repayment of a loan. Everytime you withdraw money out it is new borrowings.

So if you put $100 in the LOC for one day and then take it out tomorrow to buy food the investment loan has decreased by $100 and the personal loan has increased by $100.

Imagine doing this every week for a number of years. You could have a $100,000 loan with none of the interest being deductible.

Whereas if you had used an offset account this could have been totally avoided – while saving you the same or more interest.

Thanks for the info Terry, much appreciated    ahhhh lots of learning and research yet for me not to mention all the reading!!

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 29, 2010 - 1:41 am

Ok Lots of different opinons here I will be speaking to our Accountant  offset account seems the way to go with us our LOC is purely for the two IP's nothing else what so ever , Thanks for all the Info guys Im a little confused still about paying the interest each month ie what funds do we pay this with ? Remembering we are running two negative geared IP's at this stage

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 29, 2010 - 1:28 am

Yes the site is great, No rushing here! Lots of ideas and thoughts but hours of research to go with it , The Town is Malmsbury a small village but even with the Bybass the demand for land and housing is very steady. I do have to say we were lucky in our purchase great location also have a great tenant and very good agent who we Liason with Just purchased our second IP thats it for a while now or if a bargin comes up then yes

Thanks for the advice

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 26, 2010 - 11:13 pm

Oh and this is negative geared at this satge of time

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 26, 2010 - 11:12 pm

Can someone explain to me why as not to put the rents into the LOC ? I was planning on doing this to cover the monthly interest payment , or should i be putting rent s in another account then pulling the funds at the end of each month and paying the min monthly payment for LOC ..Confused now

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 20, 2010 - 11:01 am

The LOC will only be used for the IP's and Is It ok to use the LOC to pay rates insurance etc for those IP , also using the funds for maintanence or repairs when needed with out affecting tax ?   Def no cars or boats on the cards with this as we have worked very hard to own all we have ! other than the IPs

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 4, 2010 - 11:28 am

Thanks Dean
and how do we do that 99% and 1% ? is that by putting in company name ? sorry very new and still trying to get my brain around this

[celmelParticipant@celmelJoin Date: 2010Post Count: 14]

August 4, 2010 - 7:25 am

New to this IP thing BUT hubs and i have managed to purchase 2 properties first for 195,000 second for 200,000  both in regional area, both running at a small loss but the equity on first has grown wonderfully on the firs,t in only 9 months.. we are not looking to make a quick buck , we have great tenents and excellent agent, looking forward in +CF in very near future , These lower IP only required small cosmetic face lifts that hubs and myself are very handy at doing ourselves all is great most properties in our area are going for over 300K  we have been lucky , second was purchased by chance of us seeing agents and telling her we are after second IP .. love all the advice and comments , ive leant alot in just a month