Hi Reggie

Might be time to look beyond Newcastle – there's plenty of options in Sydney.

Nick Moustacas is a good accountant.

House of Wealth also has an office in Sydney.

What sort of advice are you after? A buyer agent type service or more of a mentoring type service?

Cheers

Jamie

Personally, I wouldn't be too keen on it.

What sort of windows does it have?

How big a development is it?

The noise/lights from cars coming/going would deter me from buying/living in it.

No harm in using it as a point of negotiating.

Cheers

Jamie

alfrescodining wrote:
Hi Jamie

When you built your retaining wall with besser blocks, how much did it end up costing per metre?

Cheers

Ahh geeze – that's going way back. From memory, they were about $3 a block from bunnings. The wall is about half a metre high and runs for about 6 – 8 metres. The end cost was around the $600 mark from…[Read more]

I haven't used them personally but a long term forum member named Derek is affiliated with them – he makes some excellent contributions to this forum on a regular basis. He knows his stuff.

Cheers

Jamie

ok – well make sure that you point that out to your broker/banker when taking out your loan.

Also – an offset account could be another option for you to explore –  you can place the funds in the offset and withdraw back out as needed.  If the loan is securing an IP – then an offset is likely to be a better option.

Cheers

Jamie

Hi Koolharley

Some do and some don't.

What is the reason behind the question?

Cheers

Jamie

Hi Sabina

Maybe start a new thread asking if anyone can recommend some good building and pest inspectors in the areas where you're looking to purchase.

Cheers

Jamie

Yes, good old ACT – the downside is that we have to pay land tax on each IP though which can quickly erode the benefits of the stamp duty deduction.

Cheers

Jamie

Hi Amanda

Seems like some legal advice is required here. Terry above is in Sydney – wouldn't hurt to call him.

Cheers

Jamie

Yep sounds like a good option.

Even if you're living costs are low – banks will still assign a minimum living cost which they believe is suitable for a single adult (despite your costs possibly being lower).

Cheers

Jamie

Matagascar wrote:
So you don't think not having an income at the time of application would be an issue? 

Hi Mat

Welcome aboard.

I can't speak for other brokers but I would have an issue with it.

We need to assess your situation and ensure that you can service the debt – if you're not generating an income, then it would be irresponsible to…[Read more]

I ran into max at Madam Tussauds yesterday in Sydney.

If Mel won't help – then easy solution is to get Richard to sort it out for you Max – he clearly knows his stuff.

Cheers

Jamie

Hi there

Have you taken into consideration all of the costs of holding the property? Including but not limited to – PM fees, insurance, maintenance, strata fees if applicable, etc. 

Are your cashflow projections based on todays rates?

What are you aiming to get out of property investing?

If there's no growth (or ability to manufacture it) -…[Read more]

Hi Isiah

Chances are your loan will have both a redraw facility and an offset – it's just a matter of utlising one and not the other.

Cheers

Jamie

Try James from House of Wealth http://houseofwealth.com.au/

Cheers

Jamie

Hi Helin

Welcome aboard.

Where are you located? 

Not that you have to be in the same location as your accountant – but it's a good start in providing recommendations.

Cheers

Jamie

What are the vacancy rates like in the area?

Like Derek said, the main factor that keeps a property vacant is usually the price. Perhaps reducing it will speed up the process of getting a tenant.

Cheers

Jamie

Yes, separate loan splits mean separate loan facilities – so separate repayments.

You're not necessarily charged separate fees though. Most pro packages have an annual fee that covers a certain number of loan facilities. Other lenders like Homeside have a $10 p.m fee which is applicable to each loan split.

Cheers

Jamie

Hi Sabina

For some people, buying sight unseen isn't a problem. For others, the idea scares them.

I don't personally feel the need to inspect a property myself but if I was to purchase unseen, I'd still want trusted professionals to scope it out for me which could be a combination of a buyers agent, building and pest inspectors. 

Different BA's…[Read more]

Dan42 wrote:
Hi Jamie,

Just noticed CBA have done the same.

Yep, it's becoming the norm by the looks of it

Cheers

Jamie