Hi modern. Congratulations on making a start. A few years back the concept of an interest only loan made me laugh, as I only thought from the prospective of being a home owner, and of course interest only means you never pay off your home. For purely investment though, the interest only componant of your loan is tax deductable (against the rental…[Read more]

Thanks John for your words of encouragement. We can’t all snatch the jobs and go galavanting around the countryside. I have done heaps of research via the net, (and a couple of purchases, one sight unseen) and while less than ideal it beats the hell out of doing nothing. Hope you do well with your deal. Again, postive comments (when true!) are…[Read more]

Hi. I am quite happy with a program called POSH . You can get infor at the following link, all the best. http://www.manac.com.au/cgi-bin/products.cgi?sku=73931

I think we can nail this topic shut now? Not that I am a moderator or anything, but I did give one reply that I hoped would be helpful, and others with more experience/finance wisdom than me have done similar…….what is that expression about a brick wall again? A local TAFE course in spelling or workplace communication will go no end to…[Read more]

Hi Island! Nice comments. I too have read both books, and enjoyed both. Steve’s is a lot more gung-ho, Margarets more slow and steady. I admit to feeling the same way a bit, and while I admit it was essentially Steve’s book (the second one, with the MAPPERS in it) that got us fired up, there are so many ‘seminar junkies’ that have been ripped off…[Read more]

Hi. If you withdraw the actual funds that you have paid in extra, you can do what you like with them…..it’s yours to use as you both see best. What some people do though is withdraw equity, claim the interest as a tax deduction, and use the funds for personal things, buying a car, holiday etc, and this is an absolute NO NO. Just something that…[Read more]

Hi Damon. My understanding with the breakfree package is that you have direct access to your ‘personal manager’ via the phone , for the running /details/questions etc on your account. You will find the ‘head office’ may be more knowledgable on this than your local branch manager. I have the info on both accounts, and under the breakfree package…[Read more]

Hi Daniel. Good on you for making a start. Without getting technical, you are actually in quite a good position, in the sense that purely depending on how you go about deposit/finance, based on your goals as far as living arrangements etc, you are ideal to try and get into a cheap but oozing potential home, that needs some TLC, using the first…[Read more]

Hi Bonnie. Just a thought. I imagine you both must have had a fair idea what the finished product was going to sell for. Perhaps you could simply sell them your half for half that price less a 5 or 10 percent discount. Alternatively, 1/2 the price of the land value (not the purchase price, as it was for both of you to make money), and then an au…[Read more]

Hi there. Just a bit of input re your plaster suggestion….it will just crack again, and make more of a mess to fix next time. You will need to use a flexible sealant if this is your approach. Unless the house is moving heaps, this should last well and look fine when painted over….as you mentioned, it is an old house. All the best.

Hi SIlluf. My family just had a 2 week holiday in China….. What part of Australia were you thinking of buying in? It is probably easier to have a few parts targeted/in mind first. I am possibly heading over to Tasmania in a few weeks time for a look at some property (I’m on the East coast of NSW, which is not a bad place to buy for possible long…[Read more]

I was going to point these links out to you and some other info on these guys when I read your first post Zorge, but refrained, as you seemed pretty keen on them, and not overjoyed when a few others who were in the know commented. Anyway, the way I see it for finance is this 1. BANK. If they are friendly and reasonably comptetitive, and you have…[Read more]

Hi All,
Interesting read…..clash of the titans? (whoa…just a joke!) Just an observation, on what I guess many would call the low end of the investment spectrum ( I can’t invisage some of the projects you guys do….maybe one day) but I have found what is often called the ‘bread and butter’ type propertys, 3 bedroom house, or semi detached…[Read more]

Hi Daniel
Sounds like a good deal. (As do many) As far as rates go, depending on the state you are looking at, you should be able to get a copy of the actual rates notice from the real estate agent (or vendor if being sold privately) or if not they will give you the figure anyway….just ask. management will be anything between 8 and 12% of your…[Read more]

Hi Tim,
Sounds like an exciting time for you both! I won’t comment other than on your query re the loan costs/set up/applications etc etc bit. If you have loans over the $250k or so (one or multiple) many of the banks offer ‘professional’ type packages that can help avoid this. It would involve paying an annual fee, which then allows you an annual…[Read more]

Go Dazzling…..I was going to say something like that but thought it was a bit too direct….may as well add to it. I remember an accountant I knew well explaining how they get so much money. Start off lower to win a client, then each year increase the fees until they are unbearably high for the client, so they then look elsewhere. If they move,…[Read more]

Hi Island girl. Just for reference, in this months API magazine there is a beuat article on clauses you can use when buying, seeing a clause was mentioned. (And no, I don’t have shares in the magazine) I found it really helpful, and plan to use a couple myself (especially the due dilligence one) when making an offer on farwaway type properties.…[Read more]

Hi. Check out the ATO website http://www.ato.gov.au and you will see that course of action is discussed under things such as ‘market rent’, as Simon pointed out, and also what is called ‘arms length’ dealing with people (ie, as if you don;t really know them….ie no favours) and also ‘aggressive tax planning’,. Good idea, but you’re not the first to…[Read more]

Yep…that’s right. When I read of the ’11 second solution’ I thought it a bit odd, because in the 3 years or so since it was written, it is pretty well redundant unless you are game to buy in a mining town or take punt on a village in the middle of nowhere. The thoughts now are ‘profit is made not bought’. However, CF neutral properties are…[Read more]

Umm….a V8 Ghia would you believe. BA Fairmont Ghia 5.4ltr V8 which we own outright, and a VL1500LC Suzuki ‘Cruiser’. But boy would we have some I P’s if we (I) had not squirted so much on vehicles over the last 10 years or so. Still we own these now, and that is that……If i could sell the car for good money I would probably buy a cheapy and…[Read more]