Sounds like they were on separate titles though?

Either way, it doesn't sound like there's too many options available to Sammy apart from CBA.

NAB at 90% might be possible as well. It was doable a year ago but things could have changed (I was told max was 3 recently). You couldn't cap LMI on this though because credit scoring will be…[Read more]

I know CBA will look at it. But are you 100% sure that it will be considered under their DUA? I'm pretty sure they wouldn't last time I checked, but if I'm wrong then that's fantastic news for Sammy.

Either way, it won't hurt for the OPs broker to check whether CBA's Direct Underwriting Authority (DUA) covers 4 units. It's just a phone…[Read more]

Happy to be corrected if I'm wrong but last time I checked their DUA didn't go above 3 dwellings which means this will end up with Genworth.

I know CBA will fund 4 properties – but at a 95% lend, I'm not sure whether genworth will like the deal.

Cheers

Jamie

CBA's DUA with genworth stops at 3 dwellings. I would be reluctant to use them for this.

Cheers

Jamie

Hi Sammy

Should be possible under resi depending on the LVR and postcode.

Cheers

Jamie 

No worries.

If you suspect that you may own another PPOR in the future then I'd avoid paying down the principle on your current PPOR loan – as this debt will become deductible once it becomes an IP.

Instead, I'd set up an offset against the loan and change it to interest only – park your spare savings and extra repayments in the offset.

This art…[Read more]

I think it's a PPOR.

Cheers

Jamie

Hi Neetish

Most capital city markets have been relatively flat over the last couple of years. This could be attributed to a period of high growth post GFC that had most capital city markets experiencing double digit growth within a short period of time.

I'd look at what, if any, growth drivers there are in the area. Is there anything that…[Read more]

The large deposit (10% or 5%) is paid upon exchange.

Cheers

Jamie

Some agents can be absolutely ruthless and will try and will try to persuade the buyer into signing the contract by any means. 

I've had a lot of agents in NSW offering clients 5 day cooling off periods recently – which is hardly enough time to get anything done. Unless it's a sub 80% lend and there's no valuation required, chances are it's going…[Read more]

Yep you can.

I don't have a reference for you though.

My understanding is that there are some changes occurring (or changes may have already occurred) to properties that are once IPs then become PPORs – you may not be able to get away with claiming SD on those properties and then moving into them later.

Cheers

Jamie

You just need to look at the opportunity cost.

For this to be a worthwhile investment, it's going to need to go up in value at a rate higher than the cost of holding it. It doesn't sound like that you're overly confident that this might occur.

I'm a bit of a boring buy and hold type of guy so I generally try to avoid selling anything – but if…[Read more]

You can apply for the FHOG if you've purchased an IP previously – as long as you haven't lived in it. That's assuming that you qualify for the FHOG in your state/territory.

Cheers

Jamie

Hi Jenna

I got into property investing for the same reason as most – wanted financial freedom and the ability to retire early.

I became a bit of an IP nerd and studied up heaps! I built some good contacts and my wife and I started to build our portfolio – most properties have been purchased around our home town. We like properties that we can…[Read more]

Cheers Kate – will get back to you first thing tomorrow

Talk soon

Jamie

Anthony from Australian Legal and Finance used to post here quite a bit. He hasn't been around in a while but is worth a shot – http://www.truelocal.com.au/business/australian-legal-and-finance/brooklyn-park

Cheers

Jamie

I'd direct them straight back to the PM with a kind reminder that you're the property owner – not the manager. The PM is getting paid to manage the property – I'd be annoyed if tenants were contacting me directly, especially after hours, especially on the weekend!

Cheers

Jamie

Hi Jenna

Welcome aboard.

A lot of it comes down to how active/passive you're willing to be.

A subdivision and build out the back will take time, effort and money. If your boyfriend's handy than that's a good start.

The unit doesn't sound too bad either – but there's limited scope to add value.

Personally, I prefer a house with a yard -…[Read more]

Hi Lukey

If the main reason for selling up is doubt that the bank will front up with the funds for a new PPOR then definitely consult a decent finance person. If you're comfortable with using email/phone, you can choose your broker from anywhere in the country.

Cheers

Jamie

Hi Lukey

Congrats on the pending arrival – I'm in the same boat, ours is due in April – it's an exciting time!

I'd consider a few things.

Firstly, are the two properties going to make good investments in the longer term? Are there any growth drivers in the area that will see them perform?

Will your combined income be $160k after bub arrives or…[Read more]