jmsrachel wrote:
I was talking to a mate last week about refund home loans. We both agreed it was a great policy but we couldn't understand how it failed? Just run out of cash flow?

From my personal experience – the knowledge level and quality of the few brokers I met was very poor. This may have had something to do with it.

Cheers

Jamie

Don't worry – I found my first grey hair the other day….then realised it was just a pug hair

Cheers

Jamie

One of the biggest issues with house and land packages as an investment is that they're often priced at a premium (because they're new) and there is no scope to add value.

Agree with the above, they rarely make for good investments. They may be ok for FHB's in certain areas that can take advantage of large construction…[Read more]

Be careful with what you do with all that cash.

As others have mentioned, don't use it all up on the one property deposit – there are smarter ways to use those funds.

Paying off an IP debt as quickly as possible may not be the right option either – there are other things to consider here, such as whether you own a PPOR, plan on purchasing a PPOR…[Read more]

Hi where n how

What do you mean by "claw" some of the trailing commission back? 

Also, why are you digging out 18 month old threads?

Cheers

Jamie

What do you want to achieve?

You really need to set a goal and devise a strategy from that.

Get a decent broker/banker, accountant and buyers agent on side (if buying interstate) and avoid using your cash to fund the purchases – look to borrow the money instead and leverage the banks money rather than your own.

Cheers

Jamie

Yep st george.

cheers

Jamie

Yep, the old take out a massive STG portfolio loan and spread it across all of your IPs – a bit of a nightmare.

Cheers

Jamie

Don't get me started with valuations – we've had a couple of shockers this week that we're currently trying to sort out. Some of the valuers must be coming straight from Christmas parties to value the properties. 

Cheers

Jamie

Like any profession – there's good and bad ones.

I'm sure you make for a great candidate for a rental and I'm just thinking out loud here but not renting for the last 12 years may be having a negative effect because there's no reference point for the PM to check on your history. I could be wrong and the PM folk on the forum can correct…[Read more]

I'd agree with the comments above. I've enjoyed all of her books – the 20 must ask questions one had some great points.

Cheers

Jamie

MISA account because if you place it in a savings account you'll be taxed on the interest.

When it comes time to buy the next IP, look to "borrow" the funds rather than use "cash" 

Cheers

Jamie

Hi Kate

Just sent you an email – well I think it's you that I just sent it to……

Cheers

Jamie

Hi Brines

Welcome aboard.

Are you talking about how much properties in a particular area will rent for?

If so, there's a few sources of info.

Online rental listings on websites like realestate.com will give you a good indication.

There's also suburb profile data available online and through reports from residex, ect.

Local property managers…[Read more]

Hi Carlio

Welcome aboard.

The first step is education yourself – read widely. This forum is a good source of free information – there's also a thread which recommends certain books.

When you're ready to go, surround yourself with experts that know their stuff – a decent finance person, accountant and a buyers agent if buying interstate.

In…[Read more]

Sounds like you just need to use a lender that has an appetite for larger loan sizes – you've got options available and make sure that the lender you decide to go with provides decent pricing on that loan amount.

Cheers

Jamie

Hi there

It's hard to comment on why they are only offering such a low LVR – are you PAYG employees or self employed?

What's the location of the property and what type of property is it?

Different banks have different policies so while one bank may restrict you to a 70% LVR – another may go higher.

A decent broker will advise.

Cheers

Jamie

jagsingh wrote:
You can work with more than one broker and see who can get you a better valuation and better intrest rates deals. 

Don't do that.

Feel free to find a broker you're comfortable in dealing with but don't use two at the same time. It's a waste of time for all involved and can end up worse off for the borrower if multiple…[Read more]

Depending on the circumstances, I don't see a problem with fixing some or all of a loan at present – particularly if the loan is securing a set and forget type IP that the owner doesn't intend on selling or releasing equity from (which isn't necessarily an issue with fixed loans) during the fixed period.

I've personally locked in a couple of…[Read more]

+1 for House of Wealth. Have had mutual clients and all have been satisfied with the service.

Cheers

Jamie