Hi Wally

First thing I'd do is grab a copy of both your credit files to make sure there's no defaults that are going to cause an issue.

Like Tom said, if your wifes credit history is in bad shape then you'll need to demonstrate that you can service the loan on your income alone and keep your wife off the application.

You'll have a much better…[Read more]

Hi boondog

The most a bank will provide a loan for is 95% plus mortgage insurance which can be added on top. Generally speaking, this means you need to come up with the 5% deposit plus enough funds to cover costs such as stamp duty, legal fees, ect.

You don't have enough equity in your current property so you're only option at present is to save…[Read more]

Hi Leonard

There are a few things you can still deduct – PM fees, maintenance, insurance, rates, ect. However, the interest repayments (which are the largest deduction) aren't available – which is a bit of a bummer.

There's a few options to consider. If your able to transfer the asset to a spouse, this could regear the debt. Selling to another…[Read more]

Where are you looking to purchase?

Most that I've crossed paths with charge a flat fee.

Cheers

Jamie

I saw a pic of a cool renovation where someone made a little cubby house under the stairs of their home….it was like a little house in a house. If I find the pic I'll post it.

Cheers

Jamie

I'm with Terry – I can't see why you'd need to complicate it. The one LOC should do the trick.

Cheers

Jamie

Hi Sunny

I've always preferred ownership over renting.

Providing your property goes up in value then what you've outlined makes sense.

Keep in mind that there are other expenses with owning a house as well though – such as maintenance, rates, ect.

Cheers

Jamie

Just get on the phone and start calling around – there's heaps of companies to choose from.

Get a few quotes, compare their policies and go from there. Check out Terry Scheer, onepath, real insurance….the list goes on.

Cheers

Jamie

Hi fbmisc

What sort of advice are you looking for?

Personally I wouldn't bother with the financial planning if your after advice on IP related matters.

For investment property financing and structuring, a good broker is important and most of us don't charge a fee for service (we get paid a commission from the lender).

An IP savvy accountant is…[Read more]

I'd opt for one where the quantity surveyor actually visits the property.

Like any profession, the quality of surveyors may vary. If you can get a recommendation for one in your area from family/friends/property related professionals then that could help.

Cheers

Jamie

Hi Matthew

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

I've got a list of handy property related websites here as well – http://www.passgo.com.au/property-data-websites.html

Cheers

Jamie

Whether you put in a new kitchen or reface the existing comes down to the current condition and layout of the existing one.

Is the carcass sturdy? If so, refacing can be a good option. Nice handles, a decent splashback, new sink and mixer tap can make a big difference without costing heaps.

I wouldn't worry too much about over capitalising. The…[Read more]

Knock on their door and ask….

Place something in their mailbox…

Cheers

Jamie

Hi there

Welcome aboard.

If you can show the lender a deposit, an ability to service the debt and their happy with your employment conditions and the type of property you're purchasing, then yes – it's possible to buy an IP.

Cheers

Jamie

Hi wealthcreation

A residex report or something similar should show previous sales of comparable properties within the area.

The same data can be found on some free websites – I think http://www.onthehouse.com.au/ might do the trick.

If you can come up with three direct comparable sales within the last 6 months, you might have a…[Read more]

Like the others have said, there's varying types of preapprovals.

Some will be online, automated systems that look at the basic parameters of the deal and either say yes or no. These sort of preapprovals are basically an assessment of your borrowing capacity in line with the lenders policy and are pretty worthless. Bankwest springs to mind…[Read more]

Scott No Mates wrote:
Jamie just ruin your PM's day and make them attend (it'll cost you though).

lol – it's my wife who looks after them. She will be thrilled

But I'm sure it will still cost me!

Cheers

Jamie

Before you jump ship – the original post from Richard about ANZ increasing rates was in Feb. This isn't something that's happened recently.

Cheers

Jamie

Damn, beat me to it!

Cheers

Jamie

I'm a bit lazy with the strata stuff (I shouldn't be – it's important to be able to have a say and know what's going on). Having said that, I've never elected a proxy or attended a meeting for the properties I hold in body corps/stratas…..it might come back to bite me one day.

Cheers

Jamie