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  • Profile photo of PaulliePaullie
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    @paullie
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    November 2, 2010 - 11:31 am

    OK, we are looking at the CBA offering – wealth package plus MISA account for offset.

    Now, the question is PI or IO.

    The way interest only was explained to me is that the interest is calculated at the beginning of the loan, and regardless of offset will remain the same. To me thats just madness, or wrong.

    Example:

    I take out an IO loan for $100,000 @ 5% interest. The interest is $417 a month.
    Now if I have a MISA account linked to this IO account with $50,000, I still have to pay $417 a month.

    That is how it was explained to me, if this is true, IO is no good for me because like many, I want to reduce the interest I'm paying. Remember I have no non deductible debt, so this debt is the next best thing to pay off.

    Profile photo of PaulliePaullie
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    @paullie
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    November 1, 2010 - 6:26 am

    I just put a special condition on my contract for sale recently that if the existing tenant did not agree to a rent increase of $90 per week, that I require vacant possession upon settlement, with a settlement of 45 days.

    Profile photo of PaulliePaullie
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    @paullie
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    October 31, 2010 - 2:47 am

    Ive got some funds I can use, so I don't necessarily need 100% IVR.

    So the trust needs to be setup before the settlement contract or the mortgage contract?

    Profile photo of PaulliePaullie
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    @paullie
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    October 31, 2010 - 1:54 am

    I will be seeing my accountant early next week.

    Do I nee to use my PPoR as security for this purchase? Or can I simply pay the mortgage insurance and use the IP as security?

    Profile photo of PaulliePaullie
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    October 31, 2010 - 1:36 am

    Property will be negatively geared until of course I pay enough principal. Purchasing the property in joint name, my wife and I.

    Profile photo of PaulliePaullie
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    @paullie
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    April 23, 2009 - 12:02 pm

    Exactly, they are just applying lube for the rapage next year.

    Profile photo of PaulliePaullie
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    @paullie
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    April 13, 2009 - 4:50 am

    Why would you even think about looking for another property when it sounds like servicing what you already have is borderline. Just because a property might be positively geared now, doesn't mean it will be in 1 year or 2 or 3.

    Prices have to come down, because they are a rip off now. There are some interesting properties, but not good enough yet.

    Profile photo of PaulliePaullie
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    @paullie
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    April 13, 2009 - 1:17 am

    haha

    Profile photo of PaulliePaullie
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    @paullie
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    April 11, 2009 - 11:57 pm

    Request originals.

    Profile photo of PaulliePaullie
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    @paullie
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    April 11, 2009 - 5:20 am

    Revoked, its an apartment on top of a strip club.

    Profile photo of PaulliePaullie
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    @paullie
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    April 9, 2009 - 11:28 pm

    I've been looking around as well, but I think property is still over priced, its ridiculous.

    I went to see a unit yesterday, it has serious moisture issues, and the asking price was IMO way too much.

    Profile photo of PaulliePaullie
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    @paullie
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    March 30, 2009 - 12:00 pm

    Why not purchase something that needs some work, not too many difficult or big jobs etc.

    Learn to do those, like patching up walls, painting, putting in a vanity etc.

    Then build up.

    Then one day, you'll be able to perform an extension, like I did.

    Profile photo of PaulliePaullie
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    @paullie
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    March 29, 2009 - 11:02 am

    Housing is overpriced, and the FHBG has to go.

    Profile photo of PaulliePaullie
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    March 25, 2009 - 9:47 am

    Well I'm after a positively geared property, and I'm after a great price on an investment property.

    It was at 790k for months and months, now 850k.

    I'll just keep it on my radar.

    Profile photo of PaulliePaullie
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    @paullie
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    March 23, 2009 - 11:18 am

    Tried knocking on the door?

    haha

    Profile photo of PaulliePaullie
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    @paullie
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    March 17, 2009 - 10:34 am

    ok thankyou.

    Profile photo of PaulliePaullie
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    March 16, 2009 - 10:14 am

    Good question, I wouldn't mind seeing someone in Perth.

    Profile photo of PaulliePaullie
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    @paullie
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    March 16, 2009 - 10:09 am

    Well I have absolutely no idea how they work. :)

    Profile photo of PaulliePaullie
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    @paullie
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    March 16, 2009 - 9:33 am

    Thank you.

    I was thinking of an interest only account with 100% offset for the IP loan.

    I'd like to find a positively geared property, and if so, will put it under my wife's name, as she is a stay at home mum.

Viewing 19 posts - 181 through 199 (of 199 total)
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