[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

December 8, 2010 - 6:16 am

Floors look good mate!

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

October 8, 2010 - 2:27 am

Fair comment, i was working on the assumption of diy, can pick up tiles for around 10-15 dollars a square meter plus a small bag of grout. Each to their own, good luck with your extension!

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

October 6, 2010 - 2:26 pm

Linar, it would of been cheaper to re tile the area than paint it to "save money"….. Just a thought.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

September 8, 2010 - 11:15 am

I have heard you can sell your PPOR up to 6 years after moving out and not pay any CGT, not sure if this applies if you have a new PPOR though.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

September 2, 2010 - 10:46 pm

So anyone can come? Is there a cost?

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 29, 2010 - 9:21 am

Haven't had any trouble with bankwest after 4+ years, with the exception of them wanting $325 p/a in fees for a LOC, which might prompt me to move….

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 17, 2010 - 1:59 pm

Greg,
         Could you explain debt recycling in simple terms please? Thanks.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 17, 2010 - 1:43 pm

Richard,
               Im with Bankwest, but thinking of refinancing with Pacific Mortgage Group, need more investigation. They have been ok until now, but if i can find a better deal i won't hesitate to move across.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 16, 2010 - 3:00 am

One thing no one has touched on, a 30k loan on a car isn't the best way to have transport IMO, never finance a depreciating asset. If it can be written off tax wise for work purposes the situation is different. But for your own personal car, see if it's possible to downgrade a bit and have something you own outright. Then when you have a lot of your own money later in life you can buy what ever you like.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 15, 2010 - 8:33 am

How about the suburbs around Breakwater on the Queenscliff side of Geelong? People seem to be buying up houses in Norlane/Corio/North Shore etc like crazy, they are under 200K 40 min drive to Melbourne cbd, but how long would one have to wait until gentrification begins and the bad people move out of there? Interesting gamble says i…

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 14, 2010 - 1:15 pm

Thanks for your thoughts Jimbo, will definitely pay me to thoroughly research the correct structure before i begin. Must do something though,having a fair bit of equity in PPOR just sitting there is pointless.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 14, 2010 - 9:05 am

I spoke to my bank, they want an annual fee of $ 325 for the LOC, is this about right? Should be tax deductible if only used for investment i think.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 14, 2010 - 8:52 am

Maybe try googling conite and see what you come up with,not sure if it contains asbestos. It seems conite was once a common building material used in construction of small modest type houses…

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 11, 2010 - 9:33 am

Thanks for the tips Matt.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 9, 2010 - 7:02 pm

Looking good mate, you must be going through lots of coffee to get so much done in so little time!

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 8, 2010 - 1:23 pm

Seaford is only just starting to boom IMO, nearby Frankston has been identified as being a growth area which will steadily increase it's value. I would advise to keep it if it is at all possible for you. As for getting anything for under 300K in Croydon, unless it's a tumble down unit, good luck. Let me know if you find one.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 8, 2010 - 1:15 pm

Thanks for the advice, more to think about! I'm also considering properties that can be subdivided, so as to create two properties from one. This appears to need a bit less money up front than buying two separate ones,taking into account building costs etc.

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 6, 2010 - 4:18 am

Thanks, now i have a much better idea of how to proceed

[Solomon10Participant@solomon10Join Date: 2010Post Count: 135]

August 6, 2010 - 3:07 am

Thanks Richard. So if i am correct, i would be paying P/I loan on PPOR, as well as the LOC, and an IO loan on the IP?

This has raised a couple more questions for me.

1. Which account would i deposit my wages and the rent from the IP?

2. Would the ATO frown upon me leaving the LOC deductible interest unpaid for a period whilst paying down the loan on the PPOR in regards to tax minimization?

3. If i used the LOC as deposit and costs for a second IP as well would this result in the two IP's being cross collaterized?

Thanks in advance!