The property will have to be considered to be your home for 6 months.  ie You will need to live in it and not use it for income.  After that you could rejig things.

ps they are great returns!  i'd love to know what town this is in!

Hiya -The thing that you must remember about negative gearing is that involves a loss.  You get a bit of a rebate back on your tax return for the loss, but not all of it.  Your cash flow is good.  If you were lookig only at numbers, the property at $249k has a better return, and for not much more input from yourself in terms of deposit.  It'll alw…[Read more]

You sound like you've done plenty of reading You guys are in a great position, and don't necessarily have to go down the path of purchasing property 30mins or so out of the city.  Sounds like you can afford blue chip which ought to produce great capital growth.  I think if I were in your position, I'd sink around $500k or $550k into a small h…[Read more]

I just re-read your posts.  The most important questions are:WHEN are you going to move interstate?  Why are you moving, and is there a possibility it might not occur?  To where will you move?Will you want to own the place you live in, or are you happy to carry on renting indefinitely?Sounds like your husband earns a tidy sum.  Does he work for…[Read more]

No I can't imagine you'd have problems.  I just have to run an errand – I'll write a more thought-out response when I return

Welcome!$185k is quite a stash – well done!!  You can definitely afford a deposit or two… so the other question is serviceability.  Have you determined how much "left over cash" you have each month after paying for your living costs?  That will help work out what kind of pricetag you'd be looking at, and as such will help determine suburbs to ta…[Read more]

I reckon you could deal with sharing the kitchen, but it will drive you mental sharing the loungeroom.  You'll want to relax in front of the tv watching programs of your choice, and maybe have friends visit.  I could see this kind of working in a 3 bedder house with two couples ; each has a bedroom; one gets the main loungeroom and the other u…[Read more]

… and there is of course the alternative of setting up a SMSF (self managed super fund) and buying a property thru that.  a great option if your super fund already has a big pile of money in it.  last i heard lending to SMSFs where 80%, so on a property worth $400k you'd need about $100k in your super; $80k to cover the deposit and $20k for st…[Read more]

How long do you think you can stand sharing a house with other families?  You'd need to figure out how to have your own space, for sure.Remember if you move out of your PPOR and do not reside in another property that you own, then you have 6 years to move back into PPOR without affecting your entitlement to a CGT (capital gains tax) free sale if…[Read more]

Welcome!First and foremost about the loan type.  Try and think of a Principal and Interest loan as the same thing as an Interest Only Loan with Offset account.  You pump money into the offset instead of against the principal.  In terms of eliminating interest and paying off faster, it's kind of the same thing.  The difference is this: if you the…[Read more]

The "extra repayments" calculator indicates that a 25 year loan is cut to 13 years by making an extra payment of $1000 per month.If you look at the regular calculator (not making extra payments) you will see that at the year 13 mark, there is still an amount owing of $294,721.  Depressing, hey.  So for the first decade or something, all you're p…[Read more]

Bit hard to comment without the actual numbers.  Can you provide the loan amount and interest rate you are working on?One thing that is obvious is that the calculator told you that you could pay the loan off in 11 years rather than 20.  That saves 9 years worth of payments, not 10. 

Thanks heaps for your thoughts Terry

ps Richard is based in QLD.  TerryW, also on this forum, very knowledgeable. 

always interest only with offset account.  remove the idea of paying off the principal and replace it with the concept of filling the offset account with money up to the value of the principal.  that way you'd eventually pay no interest, and the cash would be in the offset either to one day pay off the principal, or pull it back out again and s…[Read more]

Oh ok.  Why not post the questions on here so several people can potentially respond?

… and when you are ready to buy, track down Richard Taylor.  Username Qlds007 on this forum.  Very knowledgeable broker.  He'll make sure you get the loan structure right

You are right to have some caution in your actions.  Indeed something could happen to your income, interest rates, or indeed you could fall pregnant.  Mortgage yourself up past comfort level and perhaps you'll have a heartattack from stress and the whole exercise is then pointless.I would not rely on your partner's money… his/her name will not b…[Read more]

You can buy a property without doing a course and without paying a buyers agent   If your bank needs you to pitch in a 20% deposit plus stamp duty, then you're going to be needing $75k to get started on a property worth $300k.  Less if prepared to pay a lower deposit and pay LMI (lenders mortgage insurance).  Have you had a read of Australian Pr…[Read more]