Really interesting @Terry!

@Jamie, thanks for your article on IO loan for PPOR intention for my place to be an investment property in future. Good to know these tactics.

@Terry, thanks for your examples, great to know the insights before delving in at the deep end.

@Alistair, good article, learning heaps from you guys.

Cheers

zen

107/1-21 ANDERSON RD
(1 to 21 ANDERSON RD RD) *
WOREE L107 BUP100437:PAR CAIRNS
CASHFLOW KID PTY LTD AS TTE 30 m²
$20,000 26/08/2011

30sqm not something I would normally consider, basically a hotel room, a small one. But to be fair @terry the story was true. I get offered this kind of thing on 10% yields all the time usually just ignore, due…[Read more]

Its not the product it is the use. If the loan is being used to purchase property now then there is no duty. If the loan is being used to set up for some future property then there will be duty payable – but banks assess this and collect the duty and sometimes they miss it. If you are charged duty for a LOC you can later fill in a form and ask…[Read more]

@Terry, so the St George portfolio loan doesn’t attract stamp duty on mortgages for IP?

@Terry, as discussed previously….I prefer “fixed” so am curious who is ME Bank? and what sort of 3 and 5 year rates are they offering?

@ Daniel
that sucks. I actually have thought of going throughout a buyers agent to look at the best deals and area that I can purchase in. Seem like there are bad seeds everywhere, hard to know who to trust.

@Terry
Never really thought that would happen, until it actually happens to you

@kinetic
Even have problems making a claim?? I know…[Read more]

westnblue wrote:
@Terry

This was the reason to do cash out instead of cross collateralizing, both seem to have pitfalls. Although crossing properties is the worst option.

It was probably already crossed.

@Terry

This was the reason to do cash out instead of cross collateralizing, both seem to have pitfalls. Although crossing properties is the worst option.

@richard, i'm more referring to the valuation of the property by the Bank…typically, lenders will lend you 80-90 percent of their valuation of the property, in their own mind, that's how much the value of the propety….but of course, the market will might have a higher value…….you know from your prefession, Banks are conservative in…[Read more]

HI people… thanks for all your replies… you all have been awesome…  Could someone please let me know why woud a IO loan be better than P+I as I woudl ike to hold the property for as long as possible.. @Terry , I really want to do what you say in relation to free up as much cash I can for my PPOR.. However My Mum is Adamant on getting a…[Read more]

HI guys thanks for still looking after me… @hbbehrendorff , I would really want to buy a 2bdr unit  not far from cbd… I am currently getting one like 15k from the city  for 200k… which I think is a good deal ,  what do you guys think ,as if I do go ahead with buying it , how much loan and how much deposit should I put… ? Also I dont kno…[Read more]

@Terry and Derek: from my printed out report, it seems that the 79k comes out from my existing mortgage account (with redraw facility) as it has good equity in my account so I’ll leave the remaining $7-6k in my old mortgage account to service the new loan, so I assume no interest is earned from this $79k as it will go straight into the new loan…[Read more]

JacM wrote:
@Dan: yep I could remain in my current residence for another year or two, but keen to move at or before the two year mark.@Terry: indeed.  I have done those sums and the sums say sell   I hate that.  I like the rule of never sell.  Such a waste of stamp duty, legals and selling fees!  I was kind of hopeful someone would spring up wi…[Read more]

@Dan: yep I could remain in my current residence for another year or two, but keen to move at or before the two year mark.@Terry: indeed.  I have done those sums and the sums say sell   I hate that.  I like the rule of never sell.  Such a waste of stamp duty, legals and selling fees!  I was kind of hopeful someone would spring up with some innov…[Read more]