ara1234 wrote:
Darwin, as prices are so high there i would be looking at anything up to 500, maby im dreaming about such being able to afford the repayments, but i need to do some serious research.

Without knowing the specific of your situation, your incomes alone should place you in a good position to meet the repayments on a $500k…[Read more]

Is this a UK or Aus deal?

Cheers

Jamie

ara1234 wrote:
oh k thanks for that,
so ideally i need another 20 or 30 grand for my deposit

It depends on how much you’re wanting to pay for your property as well as the LVR that you’re comfortable with (which ties in with how much mortgage insurance you’d have to pay).

Some people don’t have an issue with using a 5% deposit and copping a…[Read more]

Hi and welcome aboard.

I'm not sure if $300k is going to buy you much up in Darwin but the good news is that your high incomes should enable you to save up a larger deposit within a short time frame.

I'd invest some time in educating yourself about property investing. Read widely and frequent forums like this one.

When you're ready to purchase,…[Read more]

Obviously some common sense needs to apply here. I wouldn’t encourage someone to build a granny flat while having a YouTube vid playing in the back ground.

For simple, basic DIY stuff it’s fantastic.

Cheers

Jamie

Dolf De Roos has a book called 101 Ways Massively Increase the Value of Your Real Estate

It doesn't specifically teach you how to carry out renos but it provides a comprehensive list of ideas for improving value to a property.

Youtube has heaps of reno videos that may come in handy.

Cheers

Jamie

Hi Shell

A new property won't necessarily value better than an older one. There are a lot of different factors that come into play with a valuation that aren't dependent on the actual property itself – they include a number  of market conditions in the area such as the direction of the market, how volatile the market is and the local…[Read more]

If you're in need of face to face contact then Richard Taylor who posts on this forum is your best bet – he knows a thing or two about finance structuring and property investing. 

Cheers

jamie

Yes, yes and yes if set up as a separate loan split.

cheers

jamie 

Definitely found out why they're selling up because you could possibly throw in a few other incentives with your offer that may make it more attractive – such as a longer/shorter settlement, allowing them to rent it back for a period of time, etc.

Cheers

Jamie

You need to base your offer on what you believe it's worth and what you're happy with paying.

It should be based on a comprehensive due diligence process that involves assessing comparative sales within the area, the demand for the property, the sellers motivation for selling, the condition of the property – the list goes on and on.

Use the…[Read more]

bigdell wrote:
Perfect Jamie!

That is exactly the answer I was after. I did have that idea but wasn't sure if I was going to be better off with the tax benefits of the IP first.

I think its time to get onto a broker and get the ball rolling!

Cheers!

Kendall

You're welcome – I'm glad it helped.

It's how a lot of my clients have started…[Read more]

Lol good point!

Cheers

Jamie

Hi bigdell

why not do both? Purchase a PPOR and use it to leverage into investing.

Heres an article I wrote on this exact topic.

Cheers

Jamie

No worries.

I can't see why you couldn't redraw those funds unless the loan that's been set up doesn't have that capability. 

Cheers

Jamie

Mine collects houses

cheers

Jamie

Hiya

sounds good but a couple of comments.

– will PPOR ever become an IP? If so, I'd convert repayments to IO

– offset may not be the best place to park the equity release, consider placing it into the loans redraw instead.

cheers

jamie 

It sounds biased but speak to a decent finance person about your options before selling up.

Without knowing the specifics of your situation, you may be able to keep your IP and still buy another.

cheers

jamie 

Here's a thread https://www.propertyinvesting.com/forums/property-investing/general-property/4330509

Cheers

Jamie

Hi Booshie

Like Scott said – generally speaking, it's best to have negatively geared properties in the higher income earners name and positively geared in the lower income earners name.

However, remember that properties tend to steer towards CF+ territory over time as rents continue to increase.

Another thing to note is that taxation benefits…[Read more]