Hi Shedhin

I haven't heard of them.

Do you have a link or some other info?

Cheers

Jamie

Hi Radley

Like Derek said – technology makes life easy. Today I wrote loans for forum clients in FNQ, Syd and WA. 

Having said that, if you need the comfort of face to face, I can recommend a great broker in Melbourne.

For an accountant, James from House of Wealth has a good reputation and is in Melbourne.

p.s – I received your email and will…[Read more]

jmsrachel wrote:

DWolfe wrote:

Have u tried the egg thing?

Or what about Sage?

IT must be something before people even ring the agent……

D

Last week I sprinkled holy water all over the house straight from the catholic church. Don't ask how I got it! Didn't work, in fact made things worse cause its attracting ants.

Zombie ants or…[Read more]

Shedin wrote:
we now rent in Sydney. I expect our loans are cross collateralised and probably because we needed maximum loan percentage each time.

That shouldn't matter.

If the deal can be done with the loans crossed then it can normally be done without them being crossed as well.

Cross coll is generally the result of either a lazy…[Read more]

Give James a buzz http://houseofwealth.com.au/contact-us/

Cheers

JAmie

It's a hard industry to crack.

The good ones do well – and there's a whole lot of others that struggle.

Personally, I wouldn't become a real estate agent so I can get a better understanding of property markets.

That's something that can be achieved irrespective of what your day job is.

If you know you'll be good at sales and are willing to…[Read more]

Terryw wrote:

Jamie -Whether…!!!

lol – I'm better with numbers, I promise. 

Cheers

Jamie

PFrankyX wrote:
So essentially if i do not do a complete refinance, i will only have to pay the top up LMI not a complete new premium?

As mentioned, i paid the LMI for an 85% loan, if i was to up this to 90% in 12-18 months time (assuming growth also), i would only have to pay the difference between the 85% LMI premium today and the 90%…[Read more]

Hi Mattsta

Just out of curiosity – why do you have a link to bigpond money in your signature?

Do you do SEO work for them?

Cheers

Jamie

adam.p wrote:
Hi there,

Browsing this forum make me realized I've been missing steps when converting PPOR to IP. Apart from getting property revaluation, is there anything else that needs to be recorded prior changing to IP?

Thanks

May need to notify the state revenue office if land tax is payable.

Cheers

Jamie

Hi Franky

Weather your LVR changes depends on how much the value of your property has gone up (that's assuming that it goes up).

The LMI should only be a small increase on the existing premium (ie. not a whole new LMI premium which will cost thousands).

Cheers

Jamie

Hi Matt

Welcome aboard.

Sounds like you're off to a good start on the IP education front.

Now it's just about receiving an income so you can show a lender that you can service a debt. Depending on the anticipated purchase price of your first property, you may need to also save some more cash for the deposit/costs.

In the mean time, I'd…[Read more]

Derek wrote:
HI Yobbo,

Without knowing your full position – why are your looking at using cash for your next purchase?
 

My thoughts exactly.

Tread carefully here. While buying an IP outright sounds great – it may not be your best option.

If you've decided that property investing is for you, $250k (depending on a heap of other factors) is…[Read more]

It's hugely important to use a broker that walks the talk when it comes to property investing.

You can tell the brokers/bankers that invest from the ones that don't have a clue. It's something that will become apparent within 2 minutes of speaking with them. You don't need to go through a list of 10 or 20 questions to find out. Call them, have a…[Read more]

Hi Shedin

Probably time to consult an expert in structured lending – Richard who responded above is your man. I'm sure he'll be able to get you back on the right track. 

Cheers

Jamie

TheYoungUnprofessionals wrote:
Cool thanks for that Jamie – sounds like a LOC is the way to go then…

I will give our broker a try first – he certainly seems to know his stuff from earlier discussions – and I feel I'm well enough armed now with some ideas to run past him, and will be able to tell fairly quickly if he knows what he's doing or…[Read more]

Hi Alex

Welcome aboard.

Set up the loan as IO with an offset. When it's time to move onto your next PPOR, take the cash out of the offset and either use it towards your next PPOR or place it an offset that's attached to your new PPOR.

When it comes time to purchase the next property – you may be able to use equity in your first property. This…[Read more]

Redraw gets messy – particularly if you're redrawing from a PPOR loan to fund an IP deposit/costs.

Setting up a second split in the way of a LOC or an interest only loan works better.

If you require the face to face service of a broker, I can recommend someone decent in Melbourne.

Cheers

Jamie

Hi David

Buying your first property is always an exiciting time.

What are your longer term plans with this property? Do you think it will ever be turned into an IP?

Being on an investment property forum, I assume you're looking to get into purchasing investment properties in the future?

Cheers

Jamie

Hi there

Welcome aboard.

Your post is super long but here's some responses that seem to address most of it:

 – Avoid using cash for IPs, consider placing these funds back into your PPOR and reborrowing – this way, the entire IP debt becomes deductible. Some careful structuring needs to occur here.

 – Change current P&I loan against PPOR to IO…[Read more]