[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

July 19, 2012 - 3:14 am

Many thanks duckster.
Regards,Gats.

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

May 6, 2012 - 4:12 pm

Will be interesting to see what happens if the latest rate cuts don't have the desired affect (one of them anyway) to stimulate property prices. If they don't and we receive another cut down the track (well the cash rate at least – don't have much faith with the banks the further any cuts may occur) I'd be wondering if there is any truth about a further property correction install for us?????
Cheers,
Gats! 

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

May 6, 2012 - 3:42 pm

Carlton has dipped quite a bit in value over the past 12 months I've noticed. Read the back of the latest API magazine and it's something around the 30% mark (????). It could be a ripe time to buy now then if it bounces back up over the next couple of years, but, I have one concern at the moment about property in general. If the recent interest rate cut (and moreso any further ones this year which are predicted) doesn't stimulate property prices upward then what???? Just my 0.2 cents worth.
I'm actually now thinking over putting money into shares long term (10years plus) in companies with little to no debt and under valued. No body corporate, no rates, no repairs, no vacancies, no landlord insurance/property insurance, etc, each and every year! I still love property and I'm still holding onto what I have but my outlook is much different than what it was 10 years ago.
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

November 28, 2011 - 5:24 am

Thanks for your advice and for replying Jamie.
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

July 23, 2011 - 12:31 pm

I salary sacrafice my credit card. $617 of my pre tax fortnightly pay goes onto my card, as it could to my PPOR mortgage, rent, utility bills. You cannot however salary sacrafice the repayments of an investment property. Well at least the company we out source salary sacrafice to won't.
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

November 2, 2010 - 12:25 pm

Thanks Terry. I started thinking that if the P+I rate they are offering me is the same as the IO rate then if I go P+I, I'm already paying down some debt. Therefore I thought that instead of going IO and making additional payments, if I go P+I and make additional payments then I would be even more ahead in debt reduction. I've commenced the switch from the CBA (today was just another reason to!) to NAB.
Catalyst, thanks for your input. I will reassess if the rent being charged is market rate.
Many thanks!
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

November 1, 2010 - 2:11 am

Hi Terry,
Thanks for your reply. I don't have any undeductible debt (as in PPOR mortgage, etc). I would have thought that seeing that the P+I rate is the same as the IO rate (both with an offset account) at 6.49% then if I went P+I I'd have to be paying more off the debt? If I've got this wrong please feel free to point me out. Many thanks again! 
Cheers,
Gatsby. 

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

October 30, 2010 - 4:25 am

Ditto to Richards comments. I wanted to change my two IO investment properties that I have/had with the CBA to their MISA account. I'm paying 6.66% too but the jargon I was fed trying to tell my local manager that it's not a true offset account (ie minimum amount must be withdrawn for use, etc) had me talking to a brick wall. I'm not blaming the staff at CBA. The girl I spoke to would have been no more than early twenties. When I told the CBA that the NAB were offering me a fully transactional offset account at 6.49% and will waive the first years fees they weren't in the slightest bit interested!
Cheers,
Gatsby!  

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

October 7, 2010 - 10:59 am

Hi Dan,
I'm in a similar position to propertymistro. I'm with the CBA and have a wealth package with them. I have two investment properties that are io variable and a redraw facility. I want to change this with them so that I have an offfset account against one of the properties. Does this mean that I can't use their offset account as other banks (ie have my salary/rents, etc credited into the offset)? Many thanks in advance!
Regards,
Gatsby!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

October 7, 2010 - 10:52 am

Many thanks guys!
Cheers,
Gatsby!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

October 7, 2010 - 1:16 am

Thanks for your reply Jamie. The fees to exit are as you said ($700 per property ). I'm thinking maybe just to put an offset account against one property as suggested. Will using an offset account as an all in one account cause tax problems if I withdraw money to pay bills, etc? Many thanks again!
Cheers,
Adrian!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

October 6, 2010 - 8:47 am

Many thanks for the reply Terry and Jamie. I met with the CBA today and I have had the two properties discharged from being cross collateralised so that now each one stands alone. I went through the strategy that I outlined in my original post (throwing as much money into the redraw as I can while living on my credit card and paying it off in full on the due date) and the lender I spoke to didn't think that I would benefit anymore by having an offset account set up????
I have to wait a week or so until CBA process the two IP's from being cross collateralized. Also is there any merit in reducing the balance on the lower IP debt rather than the higher IP debt so that it's paying down quicker? Am I best to now take one property to another lender and are their better interest only rates than 6.66% which aren't loaded with fees, etc, that would make it unworthwile? 
I want to go with an offset account but will having an offset used as an all in one savings account cause tax implications? Terry I'm keen on the LOC suggestion? Any help much appreciated in advance!
Cheers,
Gatsby!  

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

September 4, 2010 - 9:06 am

Do an ASIC search on Kevin Young. 'Let the buyer beware!'

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

April 27, 2010 - 1:44 pm

Ditto?

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

September 23, 2009 - 4:18 am

All costs are covered by the deployer (ie, vandalism, upgrading, relocating, repairs even in the event it is 'blown up'). If you check the website in the API mag that advertises it it will answer more questions than I can. I'd love to do it but I don't know if banks will lend against this anymore since the days of easy lending a year ago. It would mean that I wouldn't have to work (or choose not to to a great degree) however in ten years nothing has gone up in terms of capital growth compared to buying an investment property would . I'm very keen to enter into this but the absense of capital growth is what holds me back. I'm going to contact my bank after work to see if I can draw down equity and if no go then I'll give it a miss. If I can draw down equity then I will seriously think about it.
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

September 22, 2009 - 11:40 am

Thanks for your reply Terry. The offer is for a minimum of 5 ATM's which costs $70k plus GST returning 20% or 20 cents per transaction, whichever is the greater ($70k x 20% = $1,167 per month).  Also it qualifies for Rudd's 50% tax deduction if purchased before the end of this year.
It really works best for people who are selling investment properties and have a large CGT. That's what my friend is doing who has sold four investment properties to pay down borrowed debt and cover his CGT bill by investing in them for a passive income cash stream.
It runs on a 5 year lease and it's a bit like commercial property in that the deployer of the machines covers all maintenance/repairs issues, etc.
The problem I have firstly is that banks aren't keen to lend against them and compared to investment property, there's no capital growth over time. I'd love to be able to borrow from a line of credit, etc and buy 10 or 15 to make it really worthwhile but you would still have the debt in say 10 years but with no capital growth in an asset (like investment properties) to offset this. Fifteen of these would replace a wage!
Frustratedly yours,
Gats!
 

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

September 15, 2009 - 3:48 am

Did anybody go to their seminar last night (Sept 14th) in Glenferrie Rd, Hawthorn? If so what did people think?
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

September 7, 2009 - 4:02 am

Thanks Kenny and Karen. I didn't realise that . I'm with VicSuper and will check it out !
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

September 6, 2009 - 11:33 am

Thanks Karen but I don't have a SMSF.
Cheers,
Gats!

[gatsbyMember@gatsbyJoin Date: 2003Post Count: 708]

September 6, 2009 - 8:51 am

Thanks to the above for replying to my question. PM incoming.
Cheers,
Gats!