Hi again

Location isn't an issue – we all have clients everywhere.

Everything's done via email/phone these days.

Cheers

Jamie

Hi Rick

Welcome aboard.

You just need to keep things nice and simple.

You need three loans set-up.

Current property
Loan 1: current loan (change to interest only – no point in paying down more principle)
Loan 2: equity release for PPOR (this is used to cover the deposit/costs on next PPOR)

New property
Loan 3: remaining balance needed for new…[Read more]

bullet46 wrote:

All this is fine and dandy to say while we don't have kids

Yep – they can really put a drain on the old finances. It's not so much the cost of kids (even though they can be expensive) – but the loss of an income (or portion of) that can hurt.

I read a comment on another forum that I thought was really good – the poster…[Read more]

Terryw wrote:

Or a mid-wife who has never given birth!

LOL – it's a scary thought….but I guess there's a first time for everything.

Cheers

Jamie

Hi Jamie

What would I do?

At 24, with that much equity up my sleeve, I'd personally look to accumulate a few IPs early on – probably just a simple, boring buy, renovate and hold type strategy.

I'd probably take the current loan up to 80% now and spread that equity release over a few purchases in my own town. I'd look for properties that I could…[Read more]

Must admit – I didn't see this one coming.

It's amazing how the banks have pre conditioned borrowers to expect less than the full cut these days…..

Cheers

Jamie

Where are you located?

I don't know of any specifically that deal in IP related insurances.

For business insurances I have a contact in Melbourne who's been great over the years – happy to pass on his details if that helps. He might be able to point you in the right direction.

Cheers

Jamie

cmartyn23 wrote:
Yea nice, I was thinking of those areas as well from reading magazine. I'm also interested in Orange and Bathurst, also I wouldnt mind checking out the Hunter Valley area. 

Also back to my question, as i wanted to start investing. I want to surround myself with a good team and I want hear from experienced investor or even the…[Read more]

Hi Cristy

Welcome aboard.

I'd start by educating yourself. Read widely and continue to visit this forum.

Get an understanding of the fundamentals and have an idea of the strategy you'd like to use.

At that point, if you feel that you still require a mentor type service then you'll know which ones will be more conducive to the way you'd like to…[Read more]

Hi there

I don't have any VIC specific links but there's quite a few links on our website here.

Cheers

Jamie

Any age – as long as you can grow a pony tail.

Cheers

Jamie

Welcome aboard

Where are you looking to purchase? Is it an investment or an owner occupied property that you're looking at?

Cheers

Jamie

Hi and welcome aboard.

Don't forget a good mortgage broker

A good broker will listen to your plans, assess your borrowing capacity and make recommendations on loan structure. They should make the whole financing part of things easy while you focus on finding properties.

Cheers

Jamie

Hi there

There's no reason why you can't make these contacts without being a real estate agent and there are a lot of people who have done well out of property without working in the realm of real estate.

Cheers

Jamie

Hi there

It sounds like you've answered your own question – if you can't afford to hold it then selling it is a sensible option. Better than going bankrupt.

Will you make a profit from the sale?

Cheers

Jamie

Terryw wrote:
Doesn't sound like a mid life crisis as you sound young!

Maybe it's a third of life crisis

I was accused of having one of those when I bought a two seater sports car a couple of years ago….not the most practical family car but the 6 year old loves being taken to school in the "racing car."

Cheers

Jamie

Get out of real estate – sales is not for everyone.

For me, the priority would be finding a job that satisfies first – and then the longer term investment plans would follow after that.

Life's short, don't keep grinding away in a job that you don't like.

Cheers

Jamie

LeonR wrote:

What I do not understand is, isn't it dangerous to have so many properties carrying such large loans? Especially when considering the current world's economic situation?

Hi Leon

I guess it comes down to different strokes for different folks.

Some have a higher appetite for risk than others. There's no right or wrong…[Read more]

Hi Bundyboy

What are you trying to achieve?

Like Nathan said above – accessing equity may still be a possibility.

Cheers

Jamie

Stay away from Chrysler Pt Cruisers! Mines been nothing but a nightmare this last week – actually, it's been a nightmare for three years.

I also found out that it's not a good idea to buy a 2 seater sports car if you're starting a family

Cheers

Jamie