[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

October 27, 2013 - 10:37 am

Well, I have the money to use on another property, but I like a buffer. Brings me piece of mind and helps me sleep at night, financially probably not the best way to go about it but thats my call. 

The property was purchased for $315k from a family that had to sell then and there basically. The bank valuation came in at over $345+ 

I will be calling another bank on Monday to see how we go so ill be sure to keep you posted. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

October 18, 2013 - 12:27 pm

Do you know what soil the premises is built on top of? What sort of foundations does it have? How old is the house etc? 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

October 9, 2013 - 12:01 pm

So when do you exactly pay the principle back on a "interest only" loan….  After all a debt must be paid back at some point right?

What happens if every Tom, Dick & Harry's house go down in value and selling will cause them to go bankrupt?

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 27, 2013 - 2:52 pm

Currently I only own 1 investment property and live with the in laws (it's a big house so its bearable). It is more cost effective for my partner and I to buy another property or two in the near future and providing that they aren't all untenanted at the same time, for a prolonged period of time we will be able to service to loans and redraw for our own home at a later date..

That's the plan anyway.

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 27, 2013 - 2:20 pm

It is interest and principle. I don't believe in the interest only dribble. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 26, 2013 - 1:07 pm

I've seen her DVD, from what I can gather, your better off saving your cash and just hunt down state trustee/mortgagee sales. Alternatively you can always suss out the court listings yourself and track down the individuals involved in the proceeding's. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 26, 2013 - 12:28 pm

Mine is under an Investment Property loan…

I may just wait for this new transactional offset account to role out. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 26, 2013 - 10:58 am

I believe so, I have a smart access account with the commonwealth bank that I believe works as an offset account. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 26, 2013 - 10:47 am

That's correct Jamie. 

The property is a IP. 

Thanks for the advice. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 18, 2013 - 10:46 am

Ah, thanks guys. I guess its what you learn first time around. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 17, 2013 - 12:15 pm

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 17, 2013 - 11:54 am

Don't get married again. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 17, 2013 - 11:52 am

Don't be lazy and go and look. Property and Pest inspections are incredibly biased as most inspections offer a service of rectifying the problem, for example, you may be charged $500 to put 'Tallen' or 'Rat Sack' in the roof, when really, it will cost $6 for rodent poison and 30 seconds on a ladder.

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

September 6, 2013 - 12:53 pm

Calculate by 52.14, not 52. The extra coinage may make a difference. 

[kirbonavichMember@kirbonavichJoin Date: 2012Post Count: 23]

January 24, 2012 - 6:27 am

Thanks very much guys, appreciate it.