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stargazer

  • Hi allSomething to think about, a few years ago i wanted to get into the stockmarket.  I saw and heard speakers,  etc .  I, at the time agreed, why would you spend $5k for a program, workshop etc  all the info is in books and internet etc.I  subscribed to the latter thought.Now still breathing oxygen after going through the GFC and losing ever…[Read more]

  • Hi JessJust came across this thread, just wanted to ask you, having done the program now and the materials you have  are you now confident enough to go out and source your first project.I am considering doing the program myself not sure i can justify the 5k.CheersSG

  • Hi allThan you all for your comments and suggestions.  SG

  • stargazer replied to the topic Finance opinions in the forum Finance 11 years, 1 month ago

    HiWhy don't you contact one of the forum mortgage brokers and discuss it. As  indicated they can make it happen based on what you have shown.CheersSG

  • Hi thanks for the comments,Their attitude was as long as the funds were drawn down and intended for investment and could clearly be seen to be used for investment they could be parked with non investment funds short term and certainly would not be contaminated.Don't know if i would be comfortable with this unless it was crystal clear.  If you did…[Read more]

  • Hi TerryI have heard of that case myself but the name escapes me.  This is my thoughts also in regards to drawing down LOC investment funds to park in savings account offsetting a Loan for personal use.This is how i read QLDs007 reply in the draw down that was explained into P&I loan.CheersSG

  • QLDS007I would probably prefer to see the LOC funds drawn down into the offset account and the monthly interest come out from there.OK i am still not sure here i understand what you are saying but i getting lost with the above as you outlined previously.  This is how i am reading you: SAVINGS OFFSET ACCOUNT LINKED TO PERSONAL P& I …..is the…[Read more]

  • HiI would probably prefer to see the LOC funds drawn down into the offset account and the monthly interest come out from there. Just some finer point re ATO.  If my wages and all my personal bills are paid from this OFFSET account and also my rents and my investment properties bills are paid from the same account  Isnt this then mixed if i draw d…[Read more]

  • OK Qlds007Have a question.Lets say the structure you indicate is set up.  The rents wages etc are all going into the OFFSET account which is linked to the P&I loan.Lets assume just for the exercise that for a period of say 2 months  both properties are vacant due to whatever eg high vacancy rate say.Now i only have a wage going into the OFFSET a…[Read more]

  • Hi CrashyWhere i am blocks can be right down to around 300sqm even a bit less in some cases frontage aound 10m.   A block this size around 8km from CBD is around $600psqm round figures.  Closer is more of course. I had a 100sqm block recently valued at $200,000 in heart of CBD.  CheersSG

  • If you are suggesting turning the LOC (A) to a P&I loan linked to the offset could you explain your thinking here as i cannot see why i would do this. Don't think i would get a P& I loan for $25,000Yes i would suggest this. Ok  i understand but would the bank do this for the small amount?  If you are tired of responding to this no problem i un…[Read more]

  • Thanks for that yes there are quite a few issues for the unwary.  My estimate from my own sourcing is around $20, 000 for subdivision one block to two.Trees can be an issue and easements etcThankyou for you repliescheersSG

  • Hi see how i go this time otherwise an email maybe a good idea..lol You have thrown me a little bit.I was under the impression that the LOC for your personal purposes was not drawn at all. No problem this is the LOC that has a LImit of $25,000 sorry not 20,000 as i mentioned before.So the mortgage is for $85000  this is the home loan interest…[Read more]

  • Hi JaffasoftThanks for the wise words of encouragement.  Yes i am at the research stage.Costs and the people one needs to involve is a start.As you said architect etc.When someone has done it, it can really help to know the pitfalls to avoid.Thanks againSG

  • Hi againThanks for your replies Qld007 appreciate thisJust to be sure here:Current.Mortgage Loan Interest on PPOR is paid by my wagesHave a savings account/Offset set up for PPOR mortgage loan.The LOC for personal use is half drawnMy wages pay for my:PPOR interestPersonal LOC interestInv LOC interest as i have bought shares with this and incurring…[Read more]

  • Drip feed the monthly interest repayments on the 2 IP loans from here.When you say drip feed what do you mean pay the interest bit by bit or as a monthly total.CheersSG

  • On the basis that the LOC non dedcutible debt is not drawn at all get your lender to link a 100% offset account to the IO loan and have all of the rents and your salary going into this account.Hi again this is interesting i was under the impression that the rents had to go to the account that is used to pay the loans etc.Currently this is from the…[Read more]

  • Hi Qlds007….great name that it took a while but if twigged…lolIs the loan P & I / O, fixed or variable and with whom. ?The loan i have is an I/O loan and is variable at this stage.  I have a relatively small mortgage.  House Val $380,000 loan $85,000Can rent at approx $320 a week Will you buying a new PPOR in the near future or renting for a w…[Read more]

  • HiThanks for the replies.I wasn't sure what information would be required.  Qlds007 what info would help for a more informed response.cheersSG

  • I would tread very cautiously in this type of enviroment.  The uncertainty seen has not been experienced by many.  There is bad news after bad news from the United states .  A few years ago RTs suggestion  would've been appropriate.I would at this time take a conservative approach no LMI.I stand to be corrected by thats my view.CheersSG

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