Hi Celmel,A line of credit is a fantastic tool for investing – providing you ONLY use it for investment purposes. That way, the interest paid on the account is tax deductable. However, if you use your line of credit for private purchases, a new car for instance, than your line of credit  will become tainted and you might not be able to deduct an…[Read more]

A good mortgage broker in Canberra Most of us (myself included) are paid a comission from the lender you decide to go with. The beauty of using a broker is that we have access to a variety of lenders, all with different lending criteria and policies. Therefore, while one bank might knock you back, another might be more than happy to take you on as…[Read more]

Too many units in the one complex for my liking. There's 71 townhouses that are all the same – you can't really make yours any different (which may impact on future demand). You might also find yourself competing for tenants, what if a few other townhouses within the same complex are being rented out at the same time?Jamie

Personally, I wouldn't get too concerned about mortgage insurance and therefore wouldn't allow it to be the main factor that determines my decision.It's a borrowing cost that can be depreciated over 5 years, and without it, we would all have to save 20% deposits to purchase a property Like prop said as well, any 1 bedroom unit under 50m2 will be d…[Read more]

quickchick wrote:
I'd steer away from apartments unless you count in the body corp expenses.

The body corporate fees around that area can be huge! I was looking in Logan for a while, and was astonished by the body corporate fees – I guess everyone needs a pool in QLD The rates were also quite hefty – this was Logan though, I'm not sure if the G…[Read more]

I would set up an offset account against one of the IPs and deposit any excess cash into it. When the time comes, you can withdraw this money to use towards a deposit on your next purchase.Alternatively, if you have the equity, you could look into having one of your investment properties refinanced. You could then use the refinanced portion as a…[Read more]

Haha, I got a chuckle out of it – thanks for sharing.

Yeah, that can be a dillema. I'm not sure how things are looking in that area, but nationally prices are starting to slow down. You could always broaden your horizons and look for an area that hasn't already experienced such massive growth (perhaps a different state). On a positive note, I can't see those areas mentioned acheiving another year of…[Read more]

eilatan28 wrote:
so let me get this straight – (sorry im still new to this!)if loan is i/o my repayments would stay the same ($1840/month) but the amount of interest charged monthly would slowly decrease over time and with the more i had in my offset account. yeah? yesso although not paying the loan 'off' , my equity in the place would still…[Read more]

Congrats on the soon to arrive baby, it must be an exciting time.You have a fair bit of equity you can access in your current home. Depending on your current lender, you may be able to top up your loan to 90% LVR, giving you around the $85k mark as a deposit towards an investment loan.Your servacibility, before your wife goes on mat leave, appears…[Read more]

Nicholls, Canberra

I think the HC areas of Wagga will improve over time. It seems that LJ Hooker is selling of a heap of ex HC properties each week, which are being snapped up by investors and rented out for decent yields. I own an IP in Ashmont, and touch wood, haven't had any dramas yet. The yield is high enough to make it CF neutral and as other poster mentioned,…[Read more]