Hi Andy

You're not in Sydney are you? If so, give Terry a buzz for some legal advice.

Cheers

Jamie

Hi Spuddles

Can you just start uni now and try to juggle the job for a little longer at the same time? If it's only two weeks, it shouldn't be a problem. Maybe just ask for a bit of upaid leave for the time being.

Cheers

Jamie

It sucks to see – to go through all of this again so soon after the destruction in 2011. Hopefully all the forumites in this part of the country are doing ok.

Cheers

Jamie

Catalyst wrote:

Have you started painting? If not just a hint.

If the walls have nicotine stains paint with zinzer first otherwise the tar will just seep through the paint.

Awesome advice! Something that I hadn't considered before – and we're about to embark on a big paintjob….well, one day…

Cheers

Jamie

If you're doing an equity release against your current IP to fund another IP – you might not need to set up a second loan split for the equity because it's all IP related.

However, if you're using the IP equity to purchase a PPOR or think that you may treat either property as a PPOR in the future, then you'll need to set up the equity release as…[Read more]

Hi Andy

What's the issue with getting finance at the moment?

Was the property undervalued?

How many lenders/brokers have you approached? Which lenders have you approached.

If we have more details about that – we'll be able to offer some suggestions.

Cheers

Jamie

weetbix wrote:

@Jamie – The cash is only for the initial deposit, not to purchase outright.

OK – have a chat with your broker/banker about the cost/benefits of using a larger/smaller deposit on each purchase.

Personally, I'm a fan of using smaller deposits for IPs and leveraging more of the banks money. But everyone's circumstances are…[Read more]

Hi again

No worries at all – happy to assist and I'll shoot you back a PM shortly.

Canberra has, and will continue to be (IMO), a pretty stable market. You're timing is right as well – there's some good bargains to be had at present.

Cheers

Jamie

Technically you're supposed to advise the lender of any known significant changes to your employment history when applying for finance. Some will (but not often) conduct employment checks after formal approval has been issued.

Cheers

Jamie

Hi proprookie

No, your finance person doesn't need to be local. Providing your ok with email/phone correspondence then you can use any broker from anywhere in the country.

I received your email and will get onto it tomorrow when I'm back in the office.

Cheers

Jamie

Hi emirates

Welcome aboard.

It's always good to see a fellow Canberran on the forum.

What's the plan with the Melbourne property? Do you ever think you'll move back into it?

Either way, given that you're planning on purchasing another owner occupied property somewhere else, I would avoid paying down the principle on your current IP debt in…[Read more]

Hi Dave

you should be able to buy it from any book store. It could be available on eBay as well.

i picked up a copy from Big W.

Cheers

Jamie

Hi Weetbix

Welcome aboard.

Are we reading it right that you're looking to use cash to fund two purchases outright?

If so, there are better ways to leverage your money so it wouldn't hurt getting in touch with a decent finance person.

Richard who's already responded to your post is only a phone call/email away.

Cheers

Jamie

Yep, should be able to if you've never owned/lived in a PPOR.

Cheers

Jamie

Lender selection is soooo important when looking to grow a large portfolio – particularly if you're investing alone (rather than with a partner) because you risk hitting a borrowing capacity wall early in the game.

Other ways to improve your overall borrowing capacity include taking out interest only loans, minimising consumer debt, not having…[Read more]

Yeah it's good to see – just goes to show that age shouldn't be an obstacle. 

I spent my early 20's overseas – not buying up realestate though!

Cheers

Jamie

Hi Jared

Welcome aboard.

I wouldn't invest for the primary purpose of trying to reduce your tax bill.

It doesn't make sense. You have to lose a dollar to get back 30 or 40 cents.

The tax benefits associated with property investing should be seen as a bonus – not the primary driver behind your investment decisions.

Cheers

Jamie

James from House of Wealth – he's been plugged heaps on this forum. Just do a google search for their details.

Not sure which part of Melb his in though.

Cheers

Jamie

I don't know either market too well but by the sounds of it, if your looking to hold onto it for 10 years then CG is likely to be higher in the more desirable area – particularly if they're both starting from the same purchase price.

You mention that the Harris Park IP is renovated. How much are non renovated units within the area? Could you be…[Read more]

Totally agree. It's something that shouldn't happen without your consent.

The seminar sounds quite cheesy as well.

I wonder what will appear tomorrow, a free assessment of your insurances maybe?

Cheers

Jamie