[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 16, 2012 - 6:40 am

omg luke86 you hit the nail on the head and I 200% agree.

Someone I know purchased property in this time, now is obvioualy very well off. But this does not make that person a guru, in fact, I think the opposite of this person, even though I respect their opinion.

A guru who wanted to free up as much cash would not go P&I, pay them down and cross colataralise security. Generally, when someone spruiks themselves to me and wants to talk investing I ask how they have structured their loans, that weeds out the first lot of sheep.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 16, 2012 - 4:03 am

This is why always go IO+offset.

You have effectively contaminated the loan, which will make it difficult to claim deductions against in the future if your circumstances change.

You need to simplify the structure.

One of the guys here will know more, but perhaps refinance with an IO+offset, and put all that cash into the offset. If you convert to IP, then move the funds to the offset of your PPOR.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 15, 2012 - 1:26 am

What a joke, CBA posts record profit.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 14, 2012 - 12:45 am

The cash rate affects everyone mate. It affects credit card interest, avings interest and mortgage interest. If not directly, then indirectly. If your bosses business credit interest increased, he may not be able to afford extra staff or pay overtime.

Everyone is affected by interest rates.

At the time of replying, all major lenders have increased rates. I am now pursuing other lending options as well as fixed rates.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 13, 2012 - 1:19 am

All I know is, when driving to work the roads here are so much more congested compared to even 2 years ago. Where are these people going to live?

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 13, 2012 - 1:17 am

Accountant told me losses can be carried forward indefinately.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 13, 2012 - 1:10 am

Derek, GST changes would be an ultra pain in the ass. Shops having to change all their shelf prices every month etc. Not to mention WA already gets shafted, we dont want to be shafted further.

v, good point.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 10, 2012 - 7:45 am

Westpak just followed suit increasing by 0.1%.

haha.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 10, 2012 - 6:26 am

Or they are hoping to scare the masses into going fixed expecting the cash rate to drop.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 10, 2012 - 4:07 am

ANZ lifted rates by 0.06% and decreased their 3 year fixed rate to 5.99%.

Fixed rates are looking good.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 9, 2012 - 8:43 am

Surely they are still rated better then the US banks. 2.5% to 6.5% is a big difference.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 9, 2012 - 8:10 am

Rising costs of funds, of course hehe.

I'm not an expert, but Id like to know. If our banks have AAA credit ratings which is better then the USA, how can the USA offer 2.5% mortgage rates? Surely our banks source funds cheaper than any US bank?

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 9, 2012 - 6:58 am

Interesting, so they are anticipating rate rises.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 9, 2012 - 12:04 am

So your accountant believes increasing your deductible debt and decreasing your non-deductible debt will have no tax advantage?

If Im reading that correctly, you need a new accountant.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 8, 2012 - 5:04 am

You would need

50k for deposit
15k for costs
5-20k for small reno

80k cash would be about right.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 8, 2012 - 2:07 am

Rich. Dont suppose you could share these deals hehe.

Im considering a portion on fixed.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 7, 2012 - 3:34 am

UNCHANGED

WOW

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 7, 2012 - 3:10 am

Same, but I think only a part of the cut will be passed on.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 6, 2012 - 7:29 am

I have looked into similar things.

You will need to speak to Racing, Gaming and Liquor in your state.

You will need licenses in states you wish to conduct the lottery in. Some states do not require a license, most do.

You will need to hire a solicitor to draft the lottery terms and conditions.

You may need to hire an accountant to draw the lottery. This is the case with any random competition.

What about using premium sms to get people to enter the lottery. Like a $10 premium number. I've got PSMS experience if you need some help.

[PaullieMember@paullieJoin Date: 2009Post Count: 217]

February 6, 2012 - 7:00 am

Jo

Definately, if you can leverage of your skills to produce another income source then go for it.

My brother and I have a software background, in 2004 we started out own software company (outside of our work hours). Mid 2004 we launched our very own internet game, we grew it to $500-$1000 per day revenue, this lasted 3-4 years. All games have a lifecycle, even though the game exists today, it does not make this sort of revenue.

In 2008/09 we developed an online advertising engine, then 18 months later sold it to Clickbooth LLC in the USA for over half a million.

Were always looking for new ideas in the online world. Currently we dont have anything on the go.

So, it can be done.

All the money I made now exists as equity in my PPOR.