LuckyPhil you were sold a dud. You should have gone for the Amiga!!

It’s a online questionaire of the 80’s – 100 questions.

Cheers
Mel

Keith, it sounds like you are either a) attempting to avoid giving even more of your income to an ex spouse, or b) you want to maximise tax benefits whilst still not actually ‘losing’ money. If I were you in this instance, I would stick with interest only loans, and have any spare cash sitting waiting ready to go.

Cheers
Mel

Another option I like that Robert Kiyosaki talks about is to have the money to buy your car outright, but invest that somewhere that is positive cashflow. Then get a loan and use this cashflow to pay off the car. Eventually you either sell the car, or pay it off completely, and still earn money from the asset you bought.

I just bought a car…[Read more]

LuckyPhil, you were going to suggest that Malachii email Bill? LOL[]

Cheers
Mel

You have to lodge the bond with the rental bond people in your state. I believe it is unlawful to keep it yourself – and if I am wrong, I am sure somebody will correct me.

Part of the reason you have to lodge it is so that you can’t just decide to keep it if you felt like it at the end of the tenancy.

Cheers
Mel

I got 42[]!! But some of them were lucky guesses!

Cheers
Mel

wealth

It depends on your current situation other than the house equity and also what your goal is.

For starters, I would change accountants.

Cheers
Mel

I see that Arty lost the battle – ‘3 rats only’ he said. LOL[]

I reckon we could lend him any of our family dogs and the rats wouldn’t be a problem anymore either!!

Cheers
Mel

Hi C2.

‘Will lenders allow this or will they see it as an unnecessary risk? ‘ What’s the risk? If you are the director, and you are signing a guarantee anyway, it seems to me that it would just form part of that.

‘Also would this include the tax man?’ Don’t see why it would – you are just offering the ‘security’. There is no funds changing…[Read more]

Clive

In reading your pros and cons of IO or P&I I thought I was reading the pros and cons of fixed versus variable

ie.
Interest Only – Pros
Certainty of interest and payments – only if fixed.

Interest Only – Cons
Costs to pay out early – only if fixed.

Principal and Interest – Pros
Flexibility
Pay out early without penalty ??

Principal and…[Read more]

Speaking about being popular, hasn’t Millsy managed to get his name out there in the press!!

Cheers
Mel

Dino, the deposit amount you have won’t change the 11 second solution at all. What it will change is your Cash on Cash return.

I agree with you on ‘opportunity cost’ of that extra deposit too, it’s really got to be worth it.

Cheers
Mel

Well done Mini – my suggestion amplified a million times, and much more useful as it actually offers a place to go too!!

Cheers
Mel

Scampush, there is a fairly detailed discussion on this point here:

https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=5085

Cheers
Mel

We could invite them all, but I’m sure that between us we’ve managed to alienate a few, so that should cut it down by a couple of thousand!!

Cheers
Mel

Hi Luckyone, $300K in land value would mean that you have LOTS of houses, or that the houses you have are reaaaaaally expensive. I don’t think the ACT is any better – at least in other states you get some exemption up to a certain value. Not here. Plus my land values seem to be rising exponentially each year, therefore an increase in tax…[Read more]

Deborah, I’m guessing that you are referring to the fact where you have an interest only loan (you should if you have a PPOR loan – at least until it is paid off), and a LOC for your PPOR. You are then directing all income, rent etc. into the LOC. When the interest is due for the IP loan, it comes from this account. As will all bills etc. Is…[Read more]

I know we all hate cross collateralisation (no wonder people just write x coll![]), but one way to protect ourselves if we do have some in our own name is to use the properties outside of the trust as security for those being purchased in the trust.

This way, if you have the unfortunate circumstance of being sued, the person suing you should see…[Read more]

Celivia, it depends on if you’re redoing the kitchen, or just cutting some space out for the dishwasher. Or providing one that is on wheels.

I’m about to redo a kitchen in one of my properties – as a reward to the tenant (who’s a friend/workmate). I bought the place almost 2 years ago cos she was upset at work that she’d probably have to move…[Read more]

Not sure what you mean here madeinoz. When the real estate agents put ‘under contract’ over an ad or on the sign, it means that contracts have exchanged, but settlement has not yet taken place. Once contracts are exchanged, you cannot then buy it, unless something happens or there are ‘subject to’ clauses which are exercised by the…[Read more]