Thanks for all the helpful advice. I will do my due diligence when it comes to researching reputable companies and ensuring I get independent rental appraisals/valuations also.Dazz do you mind telling me which company you used and are you happy with the end result?

Just a normal residential house. I would arrange for my own valuation etc to assess before I bought. Are u better just to by one off the plan without the guarantee?

Thanks for your advice Terry.. Do u ever deal with St George or Bankwest? Are there any benefits around those portfolio loans where u have sub accounts, I noticed a few banks offering these for investors?

Hi Terry and Richard. Have either of u had much experience with westpac rocket investment loan and offset ac? I can get discounts with them and I was trying to compare with anz and nab? Do all offset accounts offset every dollar in the account daily? I don’t like the idea of paying monthly service fees on the offset account either. Thanks in…[Read more]

So can u not purchase in individual names with this scheme? Does it have to be through a non personal entity such as a trust? Clovermoore are u able to advise what bank u got finance through and if u had any issues?

Yeah not good. Not many first home buyers in the market at the moment.

I have looked at the ballarat area. House and land packages seem so cheap there. I would eventually like to get a positive cash flow property. Is anyone aware of any future infrastructure plans?

Pwinne are your IPs old or newly built houses? Any recomendations on suburbs which are good for rentals. I don’t live in VIC and haven’t done alot of…[Read more]

So Rick the zero stamp duty on off the plan purchases up to $600k is only in NSW? What’s everyones opinions on off the plan? I have heard it’s quite risky however I would still do my usual due diligence around independant valuer, independant real estate agent for rental appraisal etc. Is VIC 50% off stamp duty on new homes?

Can anyone advise the details of the new budget as at 1st July around no stamp duty on properties bought off the plan? Is that correct?

Hello All,Does anyone know if it is possible to find neutral/positive cashflow properties in the Canberra area? If anyone knows of any suburbs with high rental yields I would love to know as I am looking at buying an IP there in 6 mths or so. Thanks Jac

Thanks Richard, will check it out. CBA are meant to be bringing out a fully transactional 100% offset account but its been put on hold til April 2012. Can you get better deals than if I was go into the ANZ branch?

Hey Richard what lender do you write most of your business through?

Hi Terry – I looked into other banks offset accounts and they are different to what I am used too and all alot more flexible. I will go with your way of structuring now I am aware of how I can use them more effectively. I actually emailed the General Manager at Mortgage Wealth at CBA who look after the new products and they are bringing one out…[Read more]

Yeah im not completely sure about that – definately would need to suss out with an accountant. Can you please advise if you can have your repayment deducted from the offset account?

CANT ** direct debit.

No I was going to draw a new LOC up to 80% of the value of my owner occupied home for the 20% deposit on the IP so I can still claim tax benefits due to the purpose being for an investment property. I will check out other banks offset accounts to see how they differ. The one I have looked into sounds difficult to use. You can direct debit the off…[Read more]

I wasnt planning on having my salary or rent paid into the IP LOC. The way I have been instructed is to have my salary/rental income all credited into my personal LOC to reduce my personal HL as it is non tax deductable. Then set up a direct debit to come out of my personal LOC to pay the IP LOC once a month to cover the interest. There sho…[Read more]

Thanks for your help Terry. I'm sorry to be drilling you with so many questions but this topic is doing my head in!! I keep contemplating the pros/cons of both options.What term do you suggest your clients  take out when going IO? If i was to sell prior to the maturity date of the IO period would there be a ERA if I took out a standalone SVR IO lo…[Read more]

Ok Terry I take it your pretty against LOCs, any reason in particular why you prefer not to use them? Why would a 100% offset be a better option?

At the moment my loan is currently fixed until April 2012 at 5.50%. At first I was really happy with the rate but I am also finding it is restricting me when it comes to making extra payments as I am capped at $10k extra per year on top of my normal P&I repayments.  I am thinking when I buy my 1st IP to switch to a LOC so I can have my salary…[Read more]