Its not easy to make money.[buz2]

sizzling_duck,

One Ip is neutrally geared the other is my PPor, and 3 positively geared IP”S.
“Do you know how much equity is available to you in those places and if that would be enough to keep you ‘travelling happy’?”
“I will end up with about $210000 in cash approximatly.”

This would be a great deposit for a larger property around $450,000.

Dom

Thanks Terry ,
You are correct thats what i meant to say,but is their not an other strategy where i can use some of that cash if not all to purchase + geared propertys to help pay the new loan.So you dont have to use any of your own money.Even then i may not hit the highest tax bracket which is around $65000 a year.
Dom

Do you know exactly how much exit fees are ?And did you know you can incorporate them with the new lender? You might be very surprised.
As for reasons why it would definatly be better in the long run.
This worked for me , iwent to the bank and told them i was going to refinance with an other bank and they wanted to know why.
I explained that i did…[Read more]

Excellent answer Terry
Dom[biggrin]

No answers just take your buisness elswhere (Refinance).It will pay of in the long run.
Dom[wink]

Not till the Fat lady sings.

If anybody is reading this then Steve McKnight has acheived something special he has brought us (Property Investors) all together.

And i have learnt so much.

Thankyou Steve & Co.
Dom[thumbsup2]

Jaffasoft,
Where can you change the loan from P&I To Interest only?
Dom

Yack the Topic was “Challenge” not for sale or would you like to buy something of me.Even thought i understand where your coming from.
Dom[biggrin]

Thanks people for the feedback but only one person has been able to do this.This must be to hard even for the proffessional investors.

Dom[biggrin]

Hodgson,
Trust funds are basically a protection from someone suing you(Accountants use these) and can be used for tax savings.Check out the search facility on this forum and type in trust or trust structures.You will see the benifits and non benifits a trust can help you with depending on your situation.
Cheers Dom[smiling]

Hodgson,

I cant see an error if your taking that first big step into property Investing. And it is a big step some people have found it easy and some people have just been completly put of by IP,s because you have a resposibility to your tennent,property manager and your family.It can put stress on you if you cant afford the repayments (No…[Read more]

Mortman,

Thankyou for reply and Just to clarify things the loan is already fixed $140000 for 5 years.But i dont have to break the loan to get access to the equity or do I?

And if i dont would i have 2 seperate loans 1 with $140000 and 1 with the equity obtained say $50000.(Credit card)
Cheers Dom[biggrin]

Hello everyone,
Can someone please tell me how a line of credit works, say on your PPOR Eg owe $140000 valuation $280000 fixed for 5 years at 6.19%.(Suncorp)
Thanks Dom

Hello everyone,

I definatly like positive cash flow propertys PCFP
I would not buy any negative cash flow properies NCFP.
I have one property with a $12 positive net cashflow each week and thats a carton of crown lagers each month for free. I am as rich as a king
Dom [stun]
Oh yeah great newsletter

The perfect nipple i mean ripple.

[baaa]
Dom

A home page for a new site.
Dom

Cheers, Just coudn’t help myself Chan.
Dom[biggrin]

Sorry i cant see those advantages with an offset account unless you had a large amount of cash in account.I understand that every bit counts but that $7600 cash sitting in your bank account can be earning more than $50 or $$100 a month more somewhere else im sure with a bit of finacial advice.

Dom[party]

“When you go to the forun”

Do you mean foreign?