PropertyInvesting.com | TeeLee | Activity https://www.propertyinvesting.com/members/abundantone10922/activity/ Activity feed for TeeLee. Thu, 06 Nov 2025 11:33:34 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 0b75023bc473e01f34a9dc5d2a998e45 TeeLee started the topic Trying to simplify paperwork for 3 IP's & 3 Loans in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5106564-trying-to-simplify-paperwork-for-3-ips-3-loans/ Thu, 10 Jul 2025 06:15:22 +0000 Hi all.

Current scenario is 3 IP’s, each IP has their own loan and small LOC buffer account where the rents are deposited into and the loan repayments come out of. The LOC balance for each is used for other expenses that the rent may not cover (AC issues/plumbing repairs etc). I have operated this way for many years but am looking at a way to…[Read more]

]]> f41b56edc19e5415754868dbca45a293 TeeLee's profile was updated https://www.propertyinvesting.com/activity/p/427936/ Thu, 10 Jul 2025 05:38:02 +0000 6786ae96a07d4eb3fc3c03ff411aab4b abundantone10922 started the topic Opinions on buy and hold structure for 3 people in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5061735-opinions-on-buy-and-hold-structure-for-3-people/ Wed, 12 Feb 2020 04:20:38 +0000 Hi all.

Some friends and I are looking to buy a property together (long term hold) with a reno to rent strategy. I’d love to know what your thoughts are on the structure/entity we should consider purchasing it in? Is there anyone out there that lives and breaths this stuff and is happy to share?
Thanks 😊

]]> 26598ddb4fc59b3a37115a8d0e3b8716 abundantone10922 replied to the topic INTEREST IN ADVANCE - WHICH BANKS? in the forum Finance https://www.propertyinvesting.com/topic/5006459-interest-in-advance-which-banks/#post-5006612 Mon, 27 Apr 2015 01:28:36 +0000 I think the loan can be fixed for a period of 5 years, however I believe that a maximum of 12 (or 13) months interest in advance can be paid at a time. We currently have a 3 year fixed loan with St George and have been paying IIA for the past 2 years.

]]> d7b930c56c9e2b920e9c049832455d47 abundantone10922 replied to the topic What would be a reasonable cost for a solicitor to go over and witness mortgage documents in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5006458-what-would-be-a-reasonable-cost-for-a-solicitor-to-go-over-and-witness-mortgage-documents/#post-5006525 Thu, 23 Apr 2015 20:47:48 +0000 Thanks guys.

]]> 75ea23d6f23339fcf45a4fd5c924b917 abundantone10922 replied to the topic INTEREST IN ADVANCE - WHICH BANKS? in the forum Finance https://www.propertyinvesting.com/topic/5006459-interest-in-advance-which-banks/#post-5006487 Wed, 22 Apr 2015 23:03:18 +0000 Thanks so much Richard. St George can offer 4.49% fixed for 5 years….and if IIA is paid, there is an additional .2% discount bringing it to 4.29%. Anyone you know doing better than this on IIA? Is there something else the lenders call IIA? I find it very difficult to find the product….Obviously not looking in the right spot….or using the…[Read more]

]]> d0e3721581b1fe99ffa284cb071be97b abundantone10922 replied to the topic how to reduce land tax in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5006415-how-to-reduce-land-tax/#post-5006481 Wed, 22 Apr 2015 21:05:18 +0000 Not sure how land tax is calculated when property is in joint names petehe but every individual receives their own land tax threshold, so ultimately if the properties were in individual names, you would receive 2 x land tax thresholds. Also, an SMSF receives another land tax threshold….and if you were to start up subsequent SMSF’s, you receive…[Read more]

]]> 19be15e20460b8cd086b6019bcc36f60 abundantone10922 replied to the topic What would be a reasonable cost for a solicitor to go over and witness mortgage documents in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5006458-what-would-be-a-reasonable-cost-for-a-solicitor-to-go-over-and-witness-mortgage-documents/#post-5006480 Wed, 22 Apr 2015 21:00:41 +0000 Thanks Jo_WA.

We received the invoice today and came in at $440, so $400ish must be the going rate.

]]> e281301116794a9d05586620a2930641 abundantone10922 started the topic INTEREST IN ADVANCE - WHICH BANKS? in the forum Finance https://www.propertyinvesting.com/topic/5006459-interest-in-advance-which-banks/ Tue, 21 Apr 2015 20:44:03 +0000 Hi all…but particularly brokers,

We currently have a loan with St. George and pay 12 months interest in advance in June. Tax returns are done promptly and we receive a good return soon after. Love St Georges product but wondering who else offers interest in advance as we are considering a refinance (for another property)?

Thanks ‘in advance’. :-)

]]> 159567d6a38da3b3f2b371e250a6fbb8 abundantone10922 started the topic What would be a reasonable cost for a solicitor to go over and witness mortgage documents in the forum Legal & Accounting https://www.propertyinvesting.com/topic/5006458-what-would-be-a-reasonable-cost-for-a-solicitor-to-go-over-and-witness-mortgage-documents/ Tue, 21 Apr 2015 20:33:46 +0000 Hi all.

We recently had a solicitor go over some mortgage documents with us and also witness the documents. We were there about an hour and fifteen minutes and am wondering (before we receive the invoice) what would be a likely price to pay for such a service? I know, something I should have asked first.

We are in the market for a solicitor on…[Read more]

]]> 38402e67044434242fefbb1787cb9685 abundantone10922 replied to the topic Can I claim money borrowed from family to invest as a tax deduction? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4993892-can-i-claim-money-borrowed-from-family-to-invest-as-a-tax-deduction/#post-4993988 Mon, 25 Aug 2014 02:58:01 +0000 Thanks Richard and Jamie. Much appreciated. As it’s a LOC, legally he would be allowed to on-lend it, wouldn’t he? Don’t want to break any rules. :-) My understanding is that he can do what he likes with it. The only risk is if the bank called in the loan (LOC in this instance), but I imagine this would be an unlikely event. And yes, the purpose…[Read more]

]]> 68928c7191636df6ce1727e525335b7a abundantone10922 started the topic Can I claim money borrowed from family to invest as a tax deduction? in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4993892-can-i-claim-money-borrowed-from-family-to-invest-as-a-tax-deduction/ Thu, 21 Aug 2014 22:36:28 +0000 If hubby lends me $’s to invest from his available line of credit, can I claim the interest as tax deductible if the loan agreement was drawn up and I purchased a property in my name? I am assuming that he would have to declare any interest payments as income but then can he claim the interest too? The loan would be paid back at his current…[Read more]

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