Here's a sticky thread on recommended books https://www.propertyinvesting.com/forums/community/heads-up/6845

Cheers

Jamie

Yep it's still possible. You just need to be confident that your current lender will allow you to access the equity for a future purchase. If they don't and you've already fixed the loan – then you may need to refinance which will incur break costs.

Perhaps do both at the same time – extract equity (keep that portion variable) and fix the larger…[Read more]

Hi NHG

The way you split the loans is up to you.

I fixed a couple of loans on my own IPs recently because they're set and forget properties that I don't intend on selling or extracting equity from within the next few years.

One thing I'll mention though is that if you have a PPOR loan that you're looking to fix – I'd leave a portion of it…[Read more]

Hi Steven

I'd start by educating yourself.

Read investing books by different authors – get a feel for the different approaches to property investing.

Read up on this forum and others – they're a great free resource of up to date information.

When you're ready to go, find a good finance person and a good accountant. If you're looking to…[Read more]

Hi Zsmith

Have you posted this before? It seems familiar.

Yes, it's possible when you turn 18 as long as you can show the banks that you have a deposit saved and a stable income which will service the debt. The rental income the property receives will also be taken into account (generally 80% of the gross rent).

The maximum a bank will lend is…[Read more]

Hi Paul

Do you have any other non-deductible debt like a PPOR mortgage or car/personal loans? If so, then best to pay down these debts before paying down a deductible IP debt.

If not, then I'd still probably opt for IO with an offset over principle and interest because it provides flexibility.

Cheers

Jamie

I'd suss out ebay – there's usually heaps of second hand investment books on sale.

Cheers

Jamie

Do you have a mortgage on the property? If so, do you know if the lender allows for free upfront valuations to be carried out? 

Cheers

Jamie

It's not normally an issue turning a PPOR into an IP or vice versa down the track as your circumstances change.

However, you are supposed to inform the lender when taking out the loan whether it's going to be owner occupied property or an investment property.

Having said that – if you qualified for the loan as an owner occupied property – then…[Read more]

Hi Michael

What's the current loan balance against that property?

What are you going to do with the equity release?

It's difficult to provide anything more than a vague, general response without knowing more details – which of course I wouldn't  expect you to divulge on a public forum.

Cheers

Jamie

ANZ are good with this type of stuff.

Depending on the LVR required – it will either be a desktop or full valuation.

If you've carried out renos then a full val is usually a better option because this isn't taken into account with the desktop val.

If you'd prefer to use an expert to set this up – any of the decent brokers on this forum who deal…[Read more]

Totally agree with Terry.

The other benefit to this approach is that the lower repayments associated with a longer term will make your future borrowing capacity higher – particularly for lenders that go off the actual repayments for existing liabilities and don't add an "assessment rate" which is your current repayment loaded by an additional 2%…[Read more]

There's no rule of thumb.

You need to work backwards.

Work out how much YOU would need to live off and then devise a plan from that.

Cheers

Jamie

Hi there

Your broker or banker should advise on these fees.

There's usually outgoing fees with your current lender (it could be a combination of a deferred establishment fee if applicable, a discharge admin fee and if the loan is fixed, there will be fixed rate break costs). 

There will also be some minor state govt. charges which will prob be…[Read more]

There's no set rule – if you think there's some equity in your property and you need to access it, then do it now rather than waiting until you find a property. I put together this article on the topic recently.

Cheers

Jamie

JacM wrote:
James Hall … might not be viewed as spam if it were not your first post.  It's much better form to provide some useful answers on a bunch of threads before spruiking…

+1

It's not a good look when you resurface a 5 year old post to provide a link to your company.

Feel free to stick around and add to the community…[Read more]

Hi James

That's not always the case.

I think in most states there's a certain amount of notice that needs to be issued for the tenants to vacate once the lease expires.

Cheers

Jamie

I don't think two doors would make much of a difference and I don't know if you could describe it as an ensuite when advertising if it's the only bathroom in the house (I assume it is?)

If anything, two doors leading into one bathroom can cause for some very awkward moments

Cheers

Jamie 

No worries at all – I'm glad you found it useful.

I'd keep it as interest only with an offset so you can keep your options open.

The only time I'd recommend against this structure is if you're bad with money and will simply make the minimum interest repayments each month and will blow your spare cash elsewhere. In this instance, P&I is a forced…[Read more]

I bob

What are your longer term plans with this property? Do you think it will ever turn into an investment property again in the future?

I have a lot of clients that come to me after owning a property for 5 or 10 years and want to turn it into an IP and upgrade into a larger home. The issue with this approach is that they've generally paid off…[Read more]