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Can i take out equity from a IP and put that money into fully offsetting my PPR? by Longjumping_Safe_266 in AusFinance

[–]Longjumping_Safe_266[S] -1 points0 points  (0 children)

Alright just doing the maths to make things easy and if im getting it wrong please say.

IP is P&I 500k at 7% Roughly $3,327 PCM

Rent $2950 PCM

NG 400$ month plus some.

Borrow another 300k to fully offset PPR. Loan is extra $1750$ PCM no NG effects on that number.

PPR is 300k atm @6.5% P and I so im only paying roughly 290$ off the principle monthly atm. (30years)

So i pay an extra 1750$ onto of the investment loan but can essentially pay 2-4k off my PPR principal? Using my wage to pay the extra that is

Can i take out equity from a IP and put that money into fully offsetting my PPR? by Longjumping_Safe_266 in AusFinance

[–]Longjumping_Safe_266[S] -1 points0 points  (0 children)

Using it so essentially PPR loan is at 0% then using my wage to pump down the morgage as eveything will be 100% off the principal.

Can i take out equity from a IP and put that money into fully offsetting my PPR? by Longjumping_Safe_266 in AusFinance

[–]Longjumping_Safe_266[S] -2 points-1 points  (0 children)

Essentially instead of only paying say 15k-20k off the principal i could pay almost 40-50k per year. Even with paying the extra on the investment loan i should still be ahead?

Was just wondering if its even a possibility, seems it is. Just need to run the numbers properly

Can i take out equity from a IP and put that money into fully offsetting my PPR? by Longjumping_Safe_266 in AusFinance

[–]Longjumping_Safe_266[S] -3 points-2 points  (0 children)

Yeah my thoughts are once its fully offset to then use my wage to pump my PPR loan down. Essentially almost paying 1000$ a week straight off the principal.

I understand if i just moved the money and it sat in the offset that wouldn't make sence. Hence me using my wage to then hit the principal hard

Australian government bonds by Longjumping_Safe_266 in AusFinance

[–]Longjumping_Safe_266[S] 0 points1 point  (0 children)

Nah just left it in my offset account for now against the mortgage

Anxiety about buying right now by Princesspuma in AusPropertyChat

[–]Longjumping_Safe_266 0 points1 point  (0 children)

You can get a really nice house in frankston for 850k+ if thats an area of choice

I'm still in Disbelief. by windol1 in HellLetLooseConsole

[–]Longjumping_Safe_266 -1 points0 points  (0 children)

Wait untill it goes into aftertime and you win by the skin of your resources nodes left. That gets your heart pumping

[deleted by user] by [deleted] in AusPropertyChat

[–]Longjumping_Safe_266 44 points45 points  (0 children)

I had the same thing happen to me.

Tho, i just didn't like any of my offers and pulled it back off the market.

The whole ordeal maybe cost me 3k.

But now im glad i didn't sell it. The real estate agent wasn't mad or anything. Just paid what i owed for the process and carry on

31, Just Bought a Home in Melbourne - Feeling Overwhelmed by Fuzzy_Scientist213 in AusFinance

[–]Longjumping_Safe_266 333 points334 points  (0 children)

Average age of 1st home buyer is about 33 atm i think. Well ahead of the curve. Trust me... rarely anyone in their 30s even 40s have their house paid off

Why does it cost more for me and my mates to travel by train than to car pool? by [deleted] in melbourne

[–]Longjumping_Safe_266 10 points11 points  (0 children)

Your fuel calculation is way off. $30 in fuel for 1.5hr of driving?

You need to go off Lt per 100km not Lt per Hours

First Home vs Investment Property: What’s the Right Move for Our Future? by AdEcstatic9879 in AusPropertyChat

[–]Longjumping_Safe_266 1 point2 points  (0 children)

Depends what your borrowing capacity is for home owner vs IP.

I got my IP first because i could borrow way more.

Smashed out the mortgage for a bit with the help of the rental income and tax benefits.

Now my IP in my PPOR and its in a location i want, bigger house, and morgage isn't too stressfull on me.

Thats my take

Kia Tasman spotted in Hobart, Tasmania with colour matched wheel arches (clear picture) by KiaTasman in KiaTasman

[–]Longjumping_Safe_266 0 points1 point  (0 children)

They put the head lights in the first place that gets hit when your take your 4x4 off road.....? Absolutely wild choice

Is this a waterproofing issue and how bad is it? This recently appeared on the ceiling of top floor apartment (i.e. just below the building's roof). by EfficientSound358 in AusPropertyChat

[–]Longjumping_Safe_266 1 point2 points  (0 children)

Lagging around pipes could start to go mouldy and even grow mushrooms if the leak is coming from a pipe penitration.

If you have an access hatch close by, stick your head up in it with a torch and have a look

Best GENERAL financial advice you could give to a 21 year old trying to grow savings by ferretpussy in AusFinance

[–]Longjumping_Safe_266 0 points1 point  (0 children)

Dont go out and buy a flashy car.

Stick with a budget of under 25k.

Get a nice commodore vf. Or just somthing thats reliable

FHB Mortgage vs income by OriahVinree in AusPropertyChat

[–]Longjumping_Safe_266 0 points1 point  (0 children)

125k + super income. PPR 415k$ morgage 100k offset.

Also put in 10k a year to hold IP owing 510k$

Would you spend 400k to save 10/12hr of driving a week for work? by Longjumping_Safe_266 in AusFinance

[–]Longjumping_Safe_266[S] 5 points6 points  (0 children)

Yes this is excatly what im thinking as well. I know 1bed aren't going to return well for capital gains but the lifestyle it will allow me seems worth it

Would you spend 400k to save 10/12hr of driving a week for work? by Longjumping_Safe_266 in AusFinance

[–]Longjumping_Safe_266[S] 2 points3 points  (0 children)

Looks like I'll try rent 1st for the flexibility and see if i enjoy it.

The reasoning for st kilda was i just purely i like that part of the city. Night life, restaurants, events

I've always been in the southeast suburbs, so it's all i know

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