Qlds007 wrote:
Heh Jamie

Don't suppose you know any good ones lol

Cheers

Yours in Finance

lol – they're rare

Leo – you'll be in good hands with Richard.

Cheers

Jamie

The Dark Knight wrote:
Hey Jamie, 
                   Quick question about the spreadsheet is the property expenses % include interest repayments? If so how do you work out the percentage, is it against the rental for the year or the value of the property?

Hiya

No – it's just 25% of the rent received which is a nice round number to cover PM…[Read more]

Sounds like the purchase couldn't be done as an owner occupied due to limited borrowing capacity on the sole income and was purchased as an IP instead so the rent would be taken into consideration?

What are your long term plans with this property? Are you planning on turning it into an IP down the track? If so, it would be worthwhile setting the…[Read more]

I have a preference for interest only on all loans – including PPOR with an offset linked to it.

It provides maximum flexibility for the future in terms of turning a PPOR into an IP and can also help with cashflow and borrowing capacity.

Cheers

Jamie

Hi Leo

Can't recommend anyone in Sydney but you don't need to be in the same state (or country) to utlise the services of a broker – everything's done via email and phone these days so you've got the entire country to choose a good broker from.

Cheers

Jamie

This spreadsheet should do the trick (it hasn't been updated for a little while though) – http://www.passgo.com.au/investment-property-analysis-tool.html

Cheers

Jamie

Hi renel

I personally don't have an issue with LMI – it can be used to get ahead. Have a read of this article I wrote about it.

Cheers

Jamie

Hi PDimi

No worries at all.

Your goal sounds good – now you need to execute your plan.

To be honest, I wouldn't be overly concerned about the HECs debt right now. You need to consider the opportunity cost of getting rid of the HECs debt now – it means forgoing property investing for longer.

Any reason why you want to save $50k before starting?…[Read more]

We've shared mutual clients and all have been happy.

Cheers

Jamie

Hi Pdimi

Welcome aboard.

It can be very confusing when starting out. You try and absorb as much information as possible and there's a thousand different experts with a thousand different ways of doing things.

Let's take it a step back.

What are you wanting to invest in property? What are you aiming to achieve?

Cheers

Jamie

For spam posts like the three from yczarneckimurra above do we just hit "report abuse"?

Cheers

Jamie

Hi there

Welcome aboard.

There's a difference between useable equity (what the bank will let you access) and actual equity.

For instance, just say you owned a property worth $100k and you had a $50k loan and the bank your with will let you access equity up to 80% of the properties value.

In this instance, you have $50k in actual equity ($100k…[Read more]

Looks good Steve.

I liked being able to easily filter for posts made within the last day. Can we still do that?

Cheers

Jamie

Sundance wrote:
Hi all,For those of you having trouble getting finance or getting your bank to structure your loans the way you want them it is worth your while to use a Broker instead of trying to negotiate by yourself.Am in the process of setting up to buy IP2 and IP3.  Asked the CBA to set up a LOC against my PPOR (owned outright) and…[Read more]

$15k! That buys me a couple of french doors and a few windows in our PPOR.CheersJamie

Tread carefully and don't get sucked into the one stop shops that provide investment advice, sell you the property and arrange finance….especially if it involves an off the plan purchase.I haven't heard of McCarthy group so I'm not sure what they offer.CheersJamie

blessingz wrote:
just wondered if i'll get good tenants on that area? anyone has any experience with this please guide me. cheers,

Possibly – there are still decent people living in these areas, but the reality is that there's a higher chance of getting a less than desireable tenant.You need to get an excellent property manager on board -…[Read more]

Hi Free Dom (nice name)Welcome aboard.In terms of equity, you're in a decent position to kick off your portfolio.If you've decided that property is the way to go, I'd encourage you to tap into the equity now and leave it sitting dormant until you actually need to use it. That way, when an opportunity does present itself, you're in a position to…[Read more]

Correct.CheersJamie

Hi MickFeel free to email me and I can run some scenarios for you.CheersJamie