gatsby wrote:
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but the jargon I was fed trying to tell my local manager that it's not a true offset account (ie minimum amount must be withdrawn for use, etc) had me talking to a brick wall.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 n…[Read more]

Hiya ShwingRead the post, understood the post….didn't mean to upset.Personally, I really couldn't be bothered with working it out myself when I can pay a $200 deductable fee to a company that will do it all for me….their also likely to pick up on more deductable items than I could.CheersJamie

Shwing wrote:
Ricky, If the property is pre 1985 and not really had any work done to it, then it's not worth getting a depreciation schedule done for the building.

I've got a 50 year old IP in Wagga. I paid $200 for a schedule and was able to depreciate $2100 in the first year.

Agree with much of what was said above.We just advertised an IP for rent and the phone hasn't stopped ringing.12 months ago the same property was professionally managed and it took them three weeks to find a tenant…..we already have 20 to choose from. It makes you wonder what sort of effort they actually put into finding a tenant.

Hi TongWelcome to the forum.CGT is only payable on the sale of the property – not when renting it out.The interest payable on the $275k loan that is attached to your townhouse will be tax deductable when this property becomes an investment. The $500k loan on your new home won't be.It sounds like the pre-approval that the bank has granted is b…[Read more]

Hi RickyI use Corpred – I usually just get the 'silver' package. Instead of having a quantity surveyor visit my IP's, I provide them with all the info as well as images and they provide a depreciation schedule. I quickly fill out their online calculator and have an estimate sms'd to me for free (you should try it out – that way you'll have an…[Read more]

Qlds007 wrote:
Why oh why oh why would you ever pay a lump sum into an investment loan and then borrow 100% of the total cost.

Took the words right out of my mouth!

justine08 wrote:
At the end you could buy into her training program for $6000, and although I would love to do that, I dont have any where near that money spare.

 That seems quite excessive! You can start investing without a cent, providing you have equity. It doesn't even need to be a lot of equity – my wife and I used $50k worth of equity in…[Read more]

I have not yet seen a depreciation schedule that hasn't paid for itself in the first year. The company I use charges about $200.CheersJamie

Ben Kelleher wrote:
hit "subscribe post" at the bottom left of the authors post, and you will be kept in the loop!

Cheers Ben, that's handy – I didn't know you could do that.Welcome Dara – what do you actually need help with? I'm assuming it's property related, otherwise you're really struggling.CheersJamie

Shouldn't be a prob. You can claim other educational resources – books, mags, etc so can't see why you couldn't claim that.

It can be frustrating and is likely the result of the new credit legislation.Basically, lenders want proof that you're going to use the funds for the purpose you stipulate. In most cases, a signed stat dec will be enough. However, for some lenders I provide them with a scenerio which explains how the LOC will be spent. I tell them that it's going…[Read more]

Totally agree with Paul. It's poor form. If each new poster came on here to spruik something no one would benefit from the forum. Your post would be better in your local newspaper.

Could cause dramas when reselling…..others will have the same concerns. However, if the price is right, it might be worth it.CheersJamie

Hi RickyA similar post came up on another forum – this might help http://www.somersoft.com/forums/showthread.php?t=66090CheersJamie

Hi RickyWhere abouts are you located?

Hi SweethomeJust be careful with the amount of lenders you're dealing with. If pre-approvals are being sought with each of these lenders you'll be receiving multiple hits on your credit report……too many of these could cause dramas.CheersJamie

There's about a dozen in Wagga Wagga at any one time…..ex gov cheapies purchased for low $100k, few renos and rent for $240.CheersJamie

Pete Tersteeg from Sage Lending.He was my broker before I became a broker…..give him a buzz, I'm sure he'll be able to help you out. Just google his details.CheersJamie

sweethome wrote:
At NAB I am getting 6.49% interest none of the banks can come close to this. PLus I get all the app fees, package costs waived. This is so pissing me off that NAB staff member can't really help me or even show any interest.

Just goes to show that the lowest rate isn't always the best deal. Your small saving on the r…[Read more]