How do i go about switching my IP – > PPOR and my PPOR – > IP ??

Really depends how your original structure for each loan was set up???

Ideal structure for PPOR would have been interest only with an offset account therefore preserving the original principal and maximising the interest deductions once converted to an IP.

Did you set it up…

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How do i go about switching my IP – > PPOR and my PPOR – > IP ??

Really depends how your original structure for each loan was set up???

Ideal structure for PPOR would have been interest only with an offset account therefore preserving the original principal and maximising the interest deductions once converted to an IP.

Did you set it up…

[Read more]

Hi Ronan, I did his weekend bootcamp and self study modules.

Cost 5k all up. I know how my brain works. If I let info in it rattles around for a while before I apply it. Sometimes its instant application and other times it marinates for years.

If I dont apply it in a practical sense it literally haunts me until I do so a 5k investment is worth…[Read more]

is this a problem the building had when you purchased even if it wasn’t known
is what the levy is doing a repair or an improvement as defined by the case law

If so this could likely have been discovered pre purchase by asking to see the last 2 years AGM minutes and financials as this will have all the dirt on what needs to be done to the b…[Read more]

There are three types of people in property;

1. The Salesman

2. The Advisor

3. The Spruiker

Knowing the difference could mean a dud investment property or an A grade investment property;

This video sums it up nicely;

http://www.thepropertycouch.com.au/how-to-spot-a-property-spruiker/

Im friends with him on FaceBook so he must be a top bloke ;)

This is an excellent short and informative video on how to determine if you are dealing with a property spruiker;

How To Spot A Property Spruiker?

They will convince you that you NEED to refinance your home loan…. commission payment number 1
… then do an equity release…. commission payment number 2
…. and then a third loan for the actual property … commission payment number 3
and finally the big payout …. a commission from the developer in the realms of between $30K-$60K+ per property (i…

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As with any strata purchase always ask for a copy of the last 2 years AGM minutes and financials as this will tell a story you will need to be aware of before proceeding.

Find out who the commercial agents are in the are and talk to them about the particular location as they will likely have intimate knowledge about the complex.

Sounds like a different dynamic than Perth in this regard the way you have described it.

I lived in Melbourne for 3 years in the 90s (loved it) and remember the mix of the poorest of the poor and the very wealthy. Few pockets like that in Perth still but getting less and less.

Sounds like a different dynamic than Perth in this regard the way you have described it.

I lived in Melbourne for 3 years in the 90s and remember the ix of the poorest of the poor and the very wealthy. few pockets like that in Perth still but getting less and less.

Not personally. You would want to check to see how many commission houses are still in the area though as this will effect rental / sale demand and values.

Not personally. You would want to check to see how many commission houses are still in the are though as this will effect rental / sale demand and values.

I would hold off on a five year fixed for at least 12 months. I believe they will continue to trend downwards.

My opinion only of course and not actual advice.

@fxdaemon rates for commercial are generally more than residential.

ING have some good rates and also dont do annual reviews as per the majors and most other banks. Its a set and forget facility that you dont have to be concerned about a review until the 5 year mark. Available as interest only and P&I.

ING DIRECT

Commercial interest rates…[Read more]

@Zen by all means please go but dont proceed haha!

At the very least dont use their broker as they will cross the property with your PPOR and hide the 40k commission in that and you will likely never know! Other broker will do it as well so use an investment broker who knows how to structure debt to your benefit and not the banks or spruikers.

@Zen by all means please go but dont proceed haha!

@DeanCollins – I would look for a 2 or 3 year fixed rate as 5 years is a long time and a lot can happen that could trigger a sale of a property therefore incurring break-costs that could be substantial.

I see the short to medium landscape for interest rates continue to trend downwards, perhaps all the way to a zero cash rate and if correct fixed…[Read more]

@DeanCollins – I would look for a 2 or 3 year fixed rate as 5 years is a long time and a lot can happen that could trigger a sale of a property therefore incurring break-costs that could be substantial.

I see the short to medium landscape for interest rates continue to trend downwards, perhaps all the way to a zero cash rate and if correct fixed…[Read more]

A local WA bank called P&N has passed on .26%.

Used to be great for investors and small lot developments but have pulled the pin on investment lending, only available to 70% for existing clients and the niche for “end vals” on 3 unit developments is no longer a product option.