His …..

Mmm. Catch up with a good broker – many will have access to private lenders – BUT mate don't ever default will you……

Hi Diclem – You are correct. The problem is a lot of people mash personal and investment/income generating purposes all together, redraw willy nilly, and then it is one big mess, especially if they try and claim the lot as 'deductable' interest still. As long as you can show you used the money for the deposits/investment it is fine, and you have…[Read more]

A good idea Moosehead – one that particulariy on a cheaper property makes real sense.  If you can score an unsecured personal loan or 'deposit gap' loan, and get rid of it quickly (bearing in mind the interest is tax deductable for income producing borrowings) you may well find this will save you a lot of money. The idea would be to pay any extra…[Read more]

Do you think we could pressure nab into giving us a better deal?  I'd rather stay with nab because we have a long history with nab and a business banking manager there who is very helpful.Hi Sara. I think this is the main drama – if you can get a better deal or one you are comfortable with from a/your bank great, but history gets forgotten and…[Read more]

Multiple choice! THe answer is you don't. That said, if you have enough to live off between jobs, some work or other income on the way, and/or  cover loan re-payments with the help of rental income, there is lo doc (sometimes called 'lie  doc' for how some use it), No-doc, (there are some good products from non-conforming lenders along these li…[Read more]

Hi Semetha & welcome to the forum. Unfortunatley there is no 'magic' method, and despite what many profess as their 'investing skills', there are a lot of people that have 'got rich' in equity by accident the last few years. Sadly, there are many who have 'gone backwards' too, as a result of bad decsions, luck, or both. There appear to be a select…[Read more]

Hi Goosehead. yes, seeing a qualified broker is a good start as far as process of elimination goes. To give you an idea, one servicability calculator I used at one point over a panel of eleven lenders, yielded a result of around $150k as the lowest and $225k as the highest loan amount that would be 'pre approved' using exactly the same…[Read more]

A hot water service failing is considered a emergency repair. I would think the issue is more with your PM – they should have got a second quote if it seemed out of the ordinary. You should find on your agreement an amount after which they have to contact you for consultation – usually around $1000 but you would need to check yours. (you can…[Read more]

Hi Else -welcome to the forum. Good point from raddles. Have you  thought of Wollongong, or perhaps if you want lower prices Nowra? No further from Sydney, and prices appear to be on the slight up now. I'm involved with a new finance business opening there next month – I say that not to solicit business (although let me know if you need a hand of…[Read more]

Without more specifics and your plans, it is hard to give specific recommendations, but as a general rule of thumb………1. Pay as much as you can off non deductable debt first (ie your own home) and IO on deductable (ie IP's)2. If you have paid off your home and have nothing else you plan on doing with your money, and do not wish to buy more,…[Read more]

Hey Foundation……Sorry, but I had to type quick – wanted to get down in the shed and try to finish of grafting some plumbing onto the BA Ghia that will enable time travel. Surely I can utilise the satnav somehow………actually, I had my first prototype finished, thought I'd test it out buying some 2001 coastal property, hit the loud…[Read more]

Hi Moosehead. Yes, some are a pleasure to deal with…..not. As far as calculating your servicability goes, banks will always use P&I on loans you have with them even if IO only….BUT get this. Go to another bank, apply for your next loan, and they will only count your actual loan repayments with the other bank, or sometimes a straight interest…[Read more]

Hi Linda. On the FHOG paperwork it asks for all this info, and  states (for NSW ) regarding eligibility ' must not have previously owned a residential property anywhere in Aust prior to 1 July 2000'  or ' Must not have owned and occupied a residnetial property for a continuous period of at least 6 mths anywhere in Aust after 1 July 2000 (the l…[Read more]

Good on you for the higher income and improved situation. Based on what you have said, I think your second option if you can change makes most sense – change to I/O on existing loan and leave as is. You are on a good rate, and this is then set up nice and flexible for the future – your needs may change. But as you have obviously researched, for a…[Read more]

Hi Tim, and welcome to the forum. Those books get you fired up and motorvated alright – and if you check out the date of the book, also makes you wish for a time machine!   Positve cashflow properties (where you take tax deductions and depreciation into account) are a bit easier to come by than positively geared ones, but they don't seem to be a…[Read more]

Great comments Kiwifuller…..and I think you have confimed what I posted earlier when you said ….Quote the yeild is has come down to 6%,You have done well using your combination of Hans info, own skill and a few brave pills, and obviously now reaping the benefits. BUT the current yield you mentioned now based on current valuations/appraisels  …[Read more]

HI island girl. I would be inclined to agree…..we recently had an IP tennantless (is that a word?) for just on a month, where rental propertys are very tight, and the PM had plenty of notice to get a new one immediately. WHen I queried, they did explain that they get a ton of applicants still, but many are more trouble than they are worth, and…[Read more]

Hi. I too have looked at Hans stuff – it does look good and legit – however it is the same as Steve Mcknights stuff (the first two books) in that while the principles and strategies are great, unfortunately they were all  'pre -boom' and finding property that comes close to the types mentioned in much of this material is all but impossible now,…[Read more]

Hey Darcy. In NSW there is a wealth of FREE info including sell prices, and all past sales history that covers the Illawara Sth Coast area at http://www.allhomes.com.au  If only there was a site like this for other areas in Oz. If anyone else knows of one similar, let us all know. I will resist the overwhelming urge to comment on 'Jenman agents',…[Read more]