Hi BoshieI think i understand at what you are wanting to do but it is not as simple as that.In saying this there are a couple of alternatives which would be just as effective and achieve what you are wanting to do however i would need further information including actual figures to provide you with a couple of options.Let me know if i can assist.

I read somewhere it was actually 9% if that makes it a better scoop.

Hi KawanI think they are probably less than the standard rate.In saying that if you want cheap advice I am sure you could get it for less however in saying that if they saved you 3 times their annual fee initially you would probably say they were wonderful.Like anything in this world up to a certain extent you get what you pay for.If this was…[Read more]

Very good link for Australia homeseller. Think you might be in the wrong Hemisphere.

Hi AjYes buying at Auction is like signing an unconditional contract so you need to ensure that all of your conditions are satisfied prior to the Auction day.You will need to have carried out your Building & Pest inspection and ensure that your mortgage broker has undertaken the valuation and finance has been approved subject to you providing the…[Read more]

I think i would be holding off forming a Trust until you are a bit closer to deciding on the type of investment property you intend to buy so that you can ensure that you dont double on structures.No point in setting up a Discretionary Family Trust if you need to claim the negative geared tax deductions from your IP.Alternatively if the property…[Read more]

JontyIt is hard to advise you what is involved without a bit more information .In essence you would take out a new loan against the equity on both properties and use this to ocver the deposit and acquisition costs for your new IP loan.As to how to structure it as mentioned without all the information it is hard to make comment.Drop me an email if…[Read more]

Hi SueDifficult to say without all of the facts and figures on your personal circumstances.Howeer in saying that i would hesitate before you jump in with the NAB. They have a place in the market which is usually when you cant a loan to fit elsewhere but certainly not for a clean full status client. You can certainly do a lot better.

I am with V8Ghia do you really want to sell?Is the property in a poor location not providing you with a rental return or capital growth.Why not use the equity to reinvest and move forward.Yes making contributions to Superanuation are Taxed at only 15% but remember whilst you are able to gear in your SMSF these days you are limited in many ways.…[Read more]

Are you sure you want to refinance rather than just use the available equity to move forward.Unless there is a real problem i am not sure I would be refinancing a 7% fixed rate loan. Get your mortgage broker to explore all of the options before you do take that course of action but if it is absolutely necessary then yes your lender will give you a…[Read more]

Not as optimistic as Terry.There none that i am aware of.I agree with Asia and the like but not the US or UK.

Hi CremorneCertainly do not use your own funds as a deposit on an investment property whilst you have any personal debt.Couple of ways would be to either deposit the $150K into an offset account and save interest on your PPOR or alternatively pay down your principal and then take out a new loan to use as deposit on the IP.Try and avoid cross…[Read more]

On the basis that you have no non decuctible personal debt then set up a 100% offset account and place the funds in there.You will have the double advantage of having the funds at call but also receiving the same rate of interest as you are being charged on your mortgage account tax free.Also try and trim back that interest rate you are currently…[Read more]

Thanks for the update Barry.Just goes to show there is no short cut to get rich quickly and people like PC along with HK and many others are just in for themselves and how much they can take from others.I hope you get out the deal with some of your original capital.

Mr FGI would take the 11.5% PA. We charge considerably more than that on our SMSF loan book and have no problems filling the quota each month.Also with all of our wraps and we have a few more than 15 we had Anz provide us with a totally unsecured overdraft facility for  times such as this where we could write a cheque and settle and they could wor…[Read more]

PaulDepending on who the lender is will determine whether your request will fall on deaf ears on not.The larger Banks will certainly more simpathatic than the smaller securitised lenders.Many lenders offer a payment holiday which you could apply for on your PPOR and then use these funds to service the IP.Missing a loan repayment could have…[Read more]

I am with Foundation at 10% per month i might be interested.My SMSF looks at opportunities for a quick turnaround. Be interested to see a Balance Sheet for the Company. 

Ok my friend 12 posts and 12 pieces of spam.Enough is enough. Back to Bombay if you please.

Hi WodneeFirstly welcome to the forum and congratulations on your forthcoming engagement.On the basis that you are both going to live in the new property this will be your PPOR and the property in West Brunswick wil be an IP. I am unsure as to whether her boys will be paying any rent on the property (and if so will this be market rent) so it is…[Read more]

No worries.