Members & Visitors Online Right Now: 73
  • Jamie Moore replied to the topic LMI in the forum Help Needed! 2 days, 4 hours ago

    It depends on what you’re aiming to achieve.

    I work mainly with investors – and a lot of them (particularly those starting out) leverage at 88% + LMI. The LMI is deductible and they can borrow more with less which enables them to be more aggressive with property acquisition.

    If you’re looking to hold onto cash for renos – then work out what…[Read more]

  • Jamie Moore replied to the topic Seeking property lawyer/solicitor Sydney in the forum Legal & Accounting 1 week ago

    Hi Gavin

    What sort of work do you need? Is it conveyancing or something more complicated?

    Cheers

    Jamie

  • Jamie Moore replied to the topic Finding a team in the forum Help Needed! 1 week ago

    Agreed.

    Your existing lender should be your first point of contact – look at ordering an upfront valuation first so you can determine how much equity there is to access.

    If the valuation comes in low then consider ordering another via a different lender- in the hope of getting a more favorable result.

    Cheers

    Jamie

  • Jamie Moore replied to the topic Bank serviceability. in the forum Finance 1 month ago

    No – there’s a few still with generous borrowing calcs. Not sure how long they’ll last for though.

    Just need to start looking outside of the mainstream.

    Cheers

    Jamie

  • Jamie Moore replied to the topic Looking to develop with a credit default in the forum Help Needed! 1 month, 2 weeks ago

    What sort of default was it?

    Cheers

    Jamie

  • Jamie Moore replied to the topic loan restructuring – investment to residential in the forum Finance 1 month, 2 weeks ago

    You’re banker doesn’t have a clue :-(

    Speak with an accountant rather than a banker on taxation matters. The banker isn’t going to help you when the ATO come knocking.

    What they’ve suggested you can do is incorrect.

    Cheers

    Jamie

  • Jamie Moore replied to the topic Our situation, please can you help? in the forum Help Needed! 1 month, 2 weeks ago

    Your husband is spot on.

    You can’t take out an investment loan against the property now – unless you use the funds from the loan to actually invest. Only other thing I can think of is a possible spousal transfer but that’s likely to come at a cost.

    However – you can access equity in the property to fund the deposit/costs on a new home in your…[Read more]

  • Jamie Moore replied to the topic NYC city taxes in the forum Overseas Deals 1 month, 2 weeks ago

    Whoa – that’s crazy!

    Although – I’ve got an IP in Canberra where rates are circa $3k p.a and land tax is around $5k

    Cheers

    Jamie

  • Jamie Moore replied to the topic AirBnB for passive investment in the forum Creative Investing 1 month, 2 weeks ago

    AirBnB can work out well.

    Only problem is that banks won’t take into account the income generated from an Air BnB property unless you can show a year or two of tax returns. With a normal rental – they only need to see the most recent rental statement or a rental appraisal from a local property manager.

    Cheers

    Jamie

  • Jamie Moore replied to the topic pre sale apartment in the forum Heads Up! 1 month, 3 weeks ago

    I’m not a fan of OTP at all.

    You generally pay a premium – and have to keep your fingers crossed that the valuation will actually match the purchase price upon completion.

    I can’t speak for the Perth market – I haven’t seen a great deal of OTP from the west coast. However – Melb OTP gave us headaches in 2016. Had a few valuations come in much…[Read more]

  • Jamie Moore replied to the topic buying investment property in low socioeconomic suburb in the forum Help Needed! 1 month, 3 weeks ago

    There’s nothing wrong with buying in a lower socio economic area providing you’ve calculated the risks involved – and not all socioeconomic areas are the same either!

    Generally speaking – if you can land an IP in an area that’s prime for gentrification then you can experience some decent growth. Same deal with some fringe areas of capital…[Read more]

  • Jamie Moore replied to the topic Useful Research Tools in the forum Help Needed! 1 month, 3 weeks ago

    Nice post!

    We’ve got a few property related links on our website – not sure if they’ve all been covered above.

    Link is here- http://www.passgo.com.au/property-data-websites

    Cheers

    Jamie

  • Jamie Moore replied to the topic Using line of credit to access fixed mortgage equity in the forum Finance 1 month, 3 weeks ago

    Hi Woodlin

    Welcome aboard :-)

    How are you calculating the equity that you have available?

    Generally speaking – when accessing equity we set up a second loan account with redraw. The surplus funds are then dropped into that redraw account at settlement to be used to cover the deposit/costs on your future IP. The benefit of this approach is that…[Read more]

  • Jamie Moore replied to the topic Financial Planner Recommendation in the forum Help Needed! 1 month, 3 weeks ago

    Hiya Lisa

    Do you need a financial planner or an investment savvy mortgage broker? To me – it sounds like the latter is required.

    Cheers

    Jamie

  • Jamie Moore replied to the topic How to make home more valuable and sell faster in the forum Value Adding 1 month, 3 weeks ago

    Staging works wonders for the right property.

    Some basic cosmetic renos – paint, new flooring, etc can also help.

    Cheers

    Jamie

  • Jamie Moore replied to the topic To all Mortgage Brokers (and other Advisers too) in the forum Finance 3 months ago

    Based in Canberra and Sunshine Coast.

    Service clients nationally.

    Cheers

    Jamie

  • Jamie Moore replied to the topic NAB falls in line on servicing in the forum Finance 3 months, 2 weeks ago

    I guess it was just a matter of time :-(

    Looks like they won’t honour pre-approvals under the old servicing calc for very long either.

    Cheers

    Jamie

  • Jamie Moore replied to the topic Christmas gifts to tenants? in the forum Help Needed! 3 months, 3 weeks ago

    Bunnings voucher – they might spend it on improving your place :-)

    Movie tickets are always nice.

    Cheers

    Jamie

  • Jamie Moore replied to the topic Transferring property to a company/trust in the forum Finance 3 months, 3 weeks ago

    Agree with Corey – changing ownership can be costly. Speak with a decent accountant and crunch the numbers to see if it’s worth the costs.

    Joint ownership with a non-spouse can cause huge headaches for serviceability :-(

    Cheers

    Jamie

  • Jamie Moore replied to the topic What to put in an outdoor entertainment area? in the forum Help Needed! 3 months, 3 weeks ago

    I’d pop down an outdoor rug and lounge chairs with a table – cost effective and will look good.

    Cheers

    Jamie

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