Definitely stay on interest only home loans.

You want to pay down the bad debt asap clear the credit cards and car loans first as they’re not tax deductible (Home interest is deductible when ppor becomes iP).

When you buy ip purchase in husbands name if going to be negatively geared as he is on higher income.

Ideally lose the car loans and buy…[Read more]

You sound very calm I’d be livid!
Can you get some expensive quotes for cleaning/repairs/re-decorating etc then simply do the work yourself when you eventually settle?

But you’re only $7.5k up. That’s likely to come down too if any repairs/maintenance need doing, a tenant leaves etc etc.

It’s better to earn more money and pay tax on it, than to earn less! And you said yourself you’re not a fan of negative gearing.

Can you spend less on a car for now and still afford house deposit with money from…[Read more]

It wouldn’t be negative press, just give an account of your experience with them. Good or bad, its what this forum is for. They can always post a response.

Isn’t positive real estate Sam saggers who’s featured a lot in PI magazines? Thought he was supposed to be a bit of an expert

How does she justify charging you for something she’s already getting paid to do then, can’t be that great if she couldn’t beat/match the banks lowest interest rate. I wish I could double dip where I work!

That’s what’s great about tree surgeons too, they can charge you to come and cut down/take away a tree then they go and sell the wood!

Who was that with Wayno sounds a bit like Steve’s earlier in the week!? I didn’t think he was too bad found some of it interesting. Had to leave early though he went over a bit and I had to be up at 5.

JacM:

I fixed my mortgage at around 5% in the UK not long before the rate plummeted to that record low and spent three years regretting it! Back on the std variable now, cashflow improved

Trust me, you do not want the kind of conditions that caused that to happen here.

Thousands of job losses, wages frozen/falling, businesses closing…[Read more]

(This is a response to the other post you made too)

To be honest, It doesn't sound great.

Not sure if it's a slight tax (stamp duty) dodge buying below market value like that then paying it back later. Unless you pay stamp duty on the market value. If you're a first time buyer you might qualify for the stamp duty concession and first home owner…[Read more]

Face-to-face, what’s your situation and what is holding you back?

I personally don’t like any of those numbers and wouldn’t even consider it. You could buy several properties with that sort of deposit.

Also;
‘From my calculations my repayments/incurred ongoing costs would then be roughly $3200 per month (bank repayments & rates/levies) rental will bring in $2383 so i will be out of pocket about 800 per month?…[Read more]

I think Richards actually done quite well out of investing in property and as a broker. I’d be more than happy to listen to his advice if he ever ventures over to the west side..

He’s made one or two posts to help people out for free on these forums over the years too

If the insurance is more expensive that says it all, its higher risk.

If you’re not making capital gains there is not much point being negative or neutrally geared. If you are making capital gains and they outweigh any unforeseen expenses that may arise then that’s the advantage. There’s no sense in investing in something that is standing still..

What a nightmare.

Name and shame the property ‘investment’ group? This thread may even come up in search results if other people thinking of using them search online for information (or dirt..) about them before ‘investing’…

I attend most of the seminars I find out about nearby that aren’t ridiculously priced. I attend knowing there might be an ulterior motive and that I may have been invited along because its an opportunity for someone to express how difficult it is to make it in property investing without having the right team behind you, before offering their…[Read more]

OK here goes..

You originally took out a loan to buy a property. I assume it was P&I (paying off both the principle and interest)

The problem is over the years you paid off a lot of the loan. Super duper if you are to stay in the property forever, not so great if you intend to rent it out.  

Then you re-borrowed a lot of that money. NEW…[Read more]

Can't they refinance or get a better deal 600 a week for 350k sounds like a lot? Is it an interest only loan?

Don’t know if they sell them here yet but in the UK you can get carbon monoxide alarms that look identical to smoke alarms. Well worth the money..

Only borrow money from pessimists, they don't expect it back.

If it was mine I'd go there unannounced and change the locks or worse, tow it away. They might buck up their ideas if they have holiday makers turning up to stay in a caravan they can't access. You need some form of written agreement or by the sounds of it they've got you by the balls.

Is it worth much if you sell it 'un-sited'?