eeek marc im glad my kids are still at primary school. If I were you I would wait till you were approached by your daughter and husb for assistance.
You offered them help last year and they declined. Actually it is curious the amount of people that all agree its a great idea to invest but never actually take the plunge… but i digress.

THey…[Read more]

Thanks diclem and DD for your comments.

yes DD i too an interested in your idea of not paying off PPOR. Everyone I have ever heard has urged me to pay off my house. I completely forget WHY they tell me to do that.

The bit about depreciation schedule i will certainly look into but i have a feeling they relate to new buildings or new fittings. My…[Read more]

Well i for one dont want this woman living in a house of mine.

all you with such a profound social conscience offer her one of your rentals to live in.

Now marc what on earth are you implying?
hehehehe (evil laugh) [evil4]

I know that these are ‘good’ well established areas and cant see how you can possibly go wrong.

I notice from the media that bayside properties adn even Redcliffe are expected to continue to increase in value. Have you considered there?

goodluck in the reno.

Thanks Marc for the interesting figures. I really believe I need to take the opportunity to get off Centrelink altogether.

I only owe about 20k on my PPOR. I have IO loans on the 2 IPS of 270k (which are now valued at about 420k) By selling the backyard I will reduce my debt substancially and can live off the rents.

This also means I can borrow…[Read more]

mothers day means breaky in/on bed of course!

The more kids you have the bigger the breakfast. Last year I recall having to wait around in bed (im an early riser) while the boys, then aged 4 6 8 and 10 busied themselves in the kitchen.

Then I had to eat rice bubbles, egg on toast, baked beans on toast, toast adn jam and a…[Read more]

Thanks Wrappack for your comments.

Im not thrilled about selling off my backyard but there is no alternative if I wish to obtain financial independance. Borrowing money to build a grannyflat would give me another debt. I need to be able to live off the rents. Paying off the two IPS would give me income to live on and more borrowing power.

I will…[Read more]

Thanks STrataplan. Yes I have come to understand there are a lot more costs involved than I originally guessed. However it is still worth my while going ahead with the plan.

An iron fist you say Gatsby? ……you must have the women….er….swooning ?

Tell you one thing tho, when you start obtaining assets you have to be wary of who you let…[Read more]

WORD WORD WORD!
Ya NEVER rent to friends and family! Theyre late with the rent…..” The car broke down” “Had to pay for mum’s funeral” “the cat needed an operation” They also know how to track you down in the middle of the night when the toilet wont flush!

I rekkon you should stick to your original project. Ive just been noticing some cheapies…[Read more]

Sorry I cant help you with your problem Misty but it has reminded me that I need to find a financial advisor also. One that specialises in property investment and centrelink laws and lives in Brisbane.

Always so many listed in the yellow pages but difficult to sort through the average to the excellent.

Thanks Aceyducey

I have in fact taken the bull by the horns and intend to get hopping on some new projects. I feel reasured that I can get advise on this forum, since I really am a novice.

If i can convince my kids I will subdivide my block. Selling off the back yard would pay for my IPs.

Also my father has some land. I have convinced him that…[Read more]

Oh I have just noticed the ‘search’ option and have seen another post about this topic which answers most of my questions cept the one about cost. Anyone have any idea wot sorta cost I’m looking at to divide my block into two titles?

When I walked into my local Commonwealth branch requesting an investment loan they politely showed me the door.
“Sorry dear but it’s too risky for you. You only work part time. We’d hate to see you lose your house but come back and see us when you have paid off your mortgage.”

At the time my house was worth $500k and i had a mortgage of 13k.

I…[Read more]

Thanks for your comments Gramyre.

I am really content with having just my 3 houses but I can see that I shall be forced to be a property mogul afterall. [thumbsupanim]