I would suggest you speak to your lawyer. Its probably not a good idea to exchange without them having insurance. If you have already exchanged, was the insurance a condition of the contract? You may be locked in anyway.

What do you mean by ledger doc?

Don't worry too much, at least you have begun to invest – and most people get it very wrong.

You are throwing away good money by having a PI loan on your first investment loan – I would immediately change this one to IO and get IO for the next one too.

This is why it is a good idea to use a solicitor rather than a conveyancer – so you can get legal advice as well.Are you talking about a contract for the sale of land or a home/land package type deal. If just land you can settle and then find another builder. Without the builder having insurance you probably won't be able to get finance for the…[Read more]

Sorry to hear about your aunt – I would start by investigating the tax status of this property. It is probably CGT exempt, but you should check. You both may be able to move into this place briefly and then out again and then rent it without affecting the CGT status for up to 6 years.I think you will find your father will be assessed on the…[Read more]

I would be wary of having more than 1 director of a company – there is no need and it creates unnecessary risk.I think the best structure is a discretionary trust and having a company has trustee will help reduce the risk and to make it flexible. If you need a further income to assist borrowing then one of the siblings could go guarantor to the…[Read more]

If you get 76 people together you could buy it jointly for $1 each!!

Usually the seller can charge penalty interest and then issue a notice to rescind the contract if they don't settle within a certain time from – usually 14 to 21 days. If settlement doesn't occur by the date on the recission notice then the deposit can usually be kept. If you subsequently sell the property for less you may be able to sue the first…[Read more]

I try to pay more if I can. Set a standard rate and then a bonus system based on higher sales prices.

95% loans never totally went away. A few banks continuted to offer them and now more banks are reintroducing them. There are even 100% loans, and one which is 103% (- or 105%?? I started a thread on it a few weeks ago)

The best explanation is this:If you pay PI on an investment loan while you still have non-deductible debt, then you are throwing money away by wasting tax savings.

propertymistro wrote:
Hi Terryw,But couldn't I have an !00% offset account set up and I pay my credit card bill through my offset account. Rather than redrawing it out of the home loan.

Yes, thats the way to go.If you were to keep paying your wages/rents into the loan and then withdraw living expenses each week you will be rapidly decreasing…[Read more]

propertymistro wrote:
Hi Terryw,Thanks for your comment – Make sure you don't do this if your mortgage is deductible.  Please explain this in more detail as I am interested to learn more.Cheers…

Lets go thru it.What happens when you deposit money into an investment loan and then redraw it again?

Don't forget that if you want to earn cc points, then don't let the agents pay your bills, but pay them yourself using your credit card. After you have a few properties it can all add up – rates, water, insurance etc.

JacM wrote:
On this topic, are there any real estate agents that accept credit card for property purchase deposits?  I really fancy the idea of earning half a holiday worth of frequent flyer points for my troubles of purchasing a property.If anyone knows of any agencies that accept credit cards for this purpose, I would love it if you could…[Read more]

Napiers Financial Services Group PTY LTD wrote:
If what your trying to do is earn credit points on your creditcard, an option you have is to deposit all your earnings into your mortgage and live off your creditcard (earning credit points) and pay it in full out of your mortgage each month. You would have to get a loan set up that gave you that…[Read more]

Qlds007 wrote:
Sorry Terry just late in reading up on old posts. Yes i do not have a PDF on the API article and am happy to send it to anyone who wants to read it.

Hi Richard – do not have or have?

Would help if you gave an area where you want to look

Ditch CBA and Try NAB.