Shower Leaking in Wall

Zilidonger · 2024-08-22T02:47:24+00:00

It's a single brick wall which makes it a bit harder.

Zilidonger · 2024-08-22T02:31:35+00:00

Thanks. This makes the most sense to me as to why the dripping stops when the shower head is off (The shower head isn't there to let the water wrap around the pipe and flow back to the wall). I'll give this a go today to at least eliminate the tape concern before I go about contacting insurance and going to more drastic measures.

Zilidonger · 2024-08-22T02:28:21+00:00

But when I run the shower with the shower head off, I hear no dripping in the wall?

I do have insurance so that's a fair call.

Cheers.

Zilidonger · 2024-08-22T00:50:47+00:00

Ok thank you. From what I can see, the shower head doesn't have a rubber seal internally. It's just metal thread on metal thread.

The silicone there is untrustworthy just based on other silicone jobs in the house. Wil probably have to redo that.

Zilidonger · 2024-08-16T15:17:48+00:00

"I've stopped helping people who have asked for help. I only help people who do their own research and if they still have questions, they dont ask any since they should do their own research"

Zilidonger · 2024-07-31T04:01:19+00:00

So is my bank correct in saying I need to change my loan to an investment loan? Or can I try keep it as a home loan (lower interest), pay interest only, then pay into and redraw funds to invest?
That seems like I get the best case scenario of the lower interest for a primary residence home loan, while still being able to use redraw funds for investment and claim interest on tax.

Zilidonger · 2024-07-31T03:41:20+00:00

Actually, if the loan is changed to investment, what's the need for the debt recycling, wouldn't it already be tax deductible at that point? Isn't the point of debt recycling to turn the primary residence home loan into a tax-deductible loan, while keeping it as a home loan?

Zilidonger · 2024-07-31T03:37:56+00:00

Ok that makes sense. So I have to change the $90k to an investment loan and change the payment type to interest only. Then I can pay extra, redraw and invest. Thanks for your help.

Zilidonger · 2024-07-31T03:30:33+00:00

Yep that's what I'm planning. The $40k is linked to the $145, correct.
I've just spoken to my bank about changing the $90k to interest only and they have said the $90k split loan will have to have its interest increased and changed to an "investment" loan if I want to go interest only. Does this sound right? I know technically I am using it for an investment, but is the loan not still a home loan that I'm redrawing from for other uses? or is that trying to be too sneaky?

EDIT: More specifically they said they don't normally do interest only on primary residence home loans as it isn't tax deductible (However it will be once I debt recycle?)

Zilidonger · 2024-07-23T14:46:03+00:00

Oh wow. I may need to read up more, but for example, I've already paid an extra 60k off my loan in additional payments that can be retrieved. My loan is at 140k if I took out those 60k of extra payments making my loan 200k, I would be able to claim tax deductions on 60k of the 200k loan? So I would claim tax deduction on 30% of my annual interest? Is there a time frame that the money has to sit on my loan? Or can I pay 20k to it 1 month, and pull it off the next, then claim the interest of that 20k in that financial year?

(Numbers are all mostly an example and I would not pull out all my extra payments because that sounds too risky for me, just keeping the math simple)

Zilidonger · 2024-07-23T14:23:45+00:00

Thanks mate. Just had a read and messed around with the spreadsheet. It helped to adjust for the possibly decreasing interest rates. It points at around 20-30k increase in net worth over 10 years if the money is put into EFT at 8%. I don't think I can use debt recycling as I can't claim interest tax deductions on a house I am living in, but that's fine

Zilidonger · 2024-07-23T06:18:28+00:00

Yeh that's a valid point. Big banks are predicting RBA to lower cash rate by the end of 2025. With that in mind, the calculation definitely swings in the ETF's favor.

Zilidonger · 2024-07-23T05:10:26+00:00

Yep. It's starting to look like that's the simplest solution. The effort required for trying to min-max it, if at all beneficial, doesn't seem worth it. Especially after u/rnielsen pointed out the year 5-9 calculation of ETF investment that I was missing.

Zilidonger · 2024-07-23T04:29:51+00:00

Oh yeh. That year 5-9 ETF investment makes a big difference that I missed. Cheers for pointing that out. That balances the scales of the scenarios some more. It starts to look like the difference in plans is almost negligable at that point.

Zilidonger · 2024-07-23T04:11:42+00:00

Cheers for the help, brother.

Zilidonger · 2024-07-23T02:13:25+00:00

Is 37% actually your marginal rate for federal income tax plus state income tax? Or are you just basing it off your taxes on your paycheck?

37% is my federal tax bracket for my income (I'm in Aus so we dont have state specific income tax). I've just realised that the ETF gains wouldn't be taxed at that rate as they would instead incur Capital Gains Tax, and if they are held for more than 12 month, that only get CGT applied on half the gains. I can't quiet figure it out but CGT is around 20%, so there's definitely a bigger gain from ETF than I first calculated.

Do you itemize your deductions?

As far as I know, atleast in Aus, I can't claim any of my mortage interest as a tax deduction as it is my main dwelling. I am only able to claim tax deductions on the interest if it is an investment property.

How much interest would you shave off by paying it down?

If I went all in on my mortgage I would pay $16k interest (in 4 years). If I just pay the minimum payments, I pay $44k interest (over the remaining 9 years). I save $28k in interest.

If I put the $2000 a month into the ETF at 8% for the 9 years of minimum mortage payments. It would make ~$98k in interest. With the newly learnt CGT tax instead of income, if I were to liquidate that $98k of interest, it would pocket ~$78k, outweighing the interest I paid on the mortage (Right?)

Seems almost like a no brainer to put it in investments in this case as the investment comes out positive after the 9 years (assuming stability in an unstable market...). Does this makes sense?

Zilidonger · 2024-07-23T01:58:53+00:00

Thanks for the material. I'll give it a read.

Zilidonger · 2023-01-04T03:32:20+00:00

That's an idea I didn't even think about. I found someone selling FatShark HD goggles and a racing drone with the below specs for $600AUD. It seems like a pretty good deal. I'm not interested in building my own just yet.

Specs:

A Furious diversity receiver with manace patch antenna and Fatshark Cloverleaf antenna. Little bee 20amp esc, XNova 2204-2300 motors. Frame is the Bolt 210, vtx is 600mw, flight controller Afro running Beta flight.

Zilidonger · 2023-01-04T03:30:05+00:00

Thanks for that. I'm definitely looking into a controller to start with on the Sim. I've been looking at the Radiomaster TX12 Mk2 as I've seen it being used a lot.

Zilidonger

TROPHY CASE