Hi Fraser,I live and work in Castle Hill, and retired at thirty three off the back of property (I did this off a teachers wage). I am not an accountant, although I do my own accounting (When I retired I gained qualifications in Financial Planning and Mortgage Broking). I now juggle my time between family, this new business and looking after my pr…[Read more]

I am still voting for sydney???You are correct, there are so many different ideas and strategies. When I first started out, I sat with many Brokers, Advisers and Accountants. Some were rubbish and others had an interesting twist on how to create wealth. One thing I did learn was that many people have something to offer.  What you are doing on t…[Read more]

It is good news for readers of the "Money" magazine…. CBA enjoys the bragging rights and offers the magazine for free. I picked up a copy at the Castle Hill branch on the weekend.http://www.birchcorp.com.au

I use NRMA for all my insurance- they have been fair to me…..http://www.birchcorp.com.au

One thing I would do immediately…Save your petrol…… Why go all the way to Melbourne when you can take a left to Sydney? http://www.birchcorp.com.au

Wow! Be careful on what you take as factual….. Not only is this not allowed fom the ATO's perspective, but there is further consequences that must be considered (CGT and land tax).http://www.birchcorp.com.au

Only pay the minimum i/o payment, you can place the extra money you are paying into an offset account, this effectively does the same thing (with the added adv. of increased tax deductions down the track). If the unit was a good buy when you purchased it on day 1, if nothing has changed, then keep the property long term (this is where you make…[Read more]

Sorry, I have not heard of this group. It does not cost you anything to go in and listen (or it should not), talk to several property/ investment specialists (there are many opinions, philosophies and ideas behind investing) and you will soon get a good idea of who is hot and who is not……http://www.birchcorp.com.au

Refinance to get the 20% deposit and enough for stamp duty etc (hence avoid LMI), and borrow the other 80% aginst the new security, when you set this up correctly about 110% is tax deductible. Then put your excess cash back in an offset account so your repayments are reduced. You will have the best of both worlds. Sit down with someone who can sh…[Read more]

I might take up taxi driving, while delivering pizza's and sell mortgages out of the boot…… I concur with Richard, I have had two very big months.http://www.birchcorp.com.au

Q1. Everyone is treading on eggshells, you have to look at the personal details of each borrower and put the deal not with the best interest rate but the most appropriate lender. There is no one bank, just different policies that the perspective borrower must meet. You have indirectly pointed out one critical element in this question, and that…[Read more]

As long as it works both ways? http://www.birchcorp.com.au

It is the old story of "the path not taken", Your mate will never know the opportunities he has missed by not continuing with you. I would put that one down to your mate's loss.    http://www.birchcorp.com.au

No to getting a better rate- the banks would not do themself out of business. But Yes to setting you up correctly. At the expense of competing against myself. The branch will provide a smoother experience. I call a spade a spade, Sorry to offend brokers. On the flipside, you will be talking to a person who is not equipped with the many, many…[Read more]

There are a lot of variables(personal details) that must be considered, I suggest you visit your local bank or like. From an investors point of view you are in a very good position. If you can get some TLC from a reputable person you would be doing yourself no harm. Further, speak to 3/4 banks, and talk to a broker to get an overall pe…[Read more]

 I am also not keen on trying to predict where you will live, I have purchased two properties in my life trying to predict where I wished to live at a later date. Needless to say, both were a flop. Yes I made money, but No, I did not live there. i.e. How many children will you have, what promotions will you get from work etc.http://www.birchcorp.com.au

No, you will not have to pay the mortgage insurance. The 20% deposit will be taken from your equity available from your current Owner Occupied home. And Yes, it is important to borrow the complete $600k + so if you ever need your $260k for a holiday/ car/ renovations on your house etc This means the investment property will still be completely t…[Read more]

In most cases, I am not an advocate of the LOC. It would be much cleaner, and save on costs, to use split loans over one security with an offset facility attached. There are good reasons to use a LOC, i.e. a portfolio product that may be used to capitalise interest and re-distribute credit limits if you have numerous Investment properties. But t…[Read more]

Grant,I started in a similar fashion to you. This is what I did,  learn, learn and learn…….. spend every spare moment looking at tax guides, and financial literature. Be great at mathematics so you do not have to rely on other people, you need to have the confidence calculate the value of acquisitions quickly, without the reliance of third p…[Read more]

Without knowing all your personal details, with education in hand (as you are doing on this site). You are ready for the world of property. I was originally a teacher and understand the flexibility of the teaching industry (I had many periods of paternity leave, unpaid leave etc). Your wife will also be in this position. What I am getting at, is…[Read more]