Hi Warek

Welcome aboard.

If the property is going to be highly negatively geared (which sounds to be the case) it would probably be worth while having the title either in your wife’s name or a higher percentage of ownership apportioned to her given that she’s the higher income earner.

In terms of financing it, you could access equity in your…[Read more]

Hi there

Welcome aboard.

Not sure if I’m reading this right but did a better property recieve a max bid of $150k?

Cheers

Jamie

KRH83 wrote:
We were most likely going to use a buyers agent since we will be long distance buyer – can anyone recommend a reputable BA in Brisbane? Thanks, K

Andrew Allen – http://www.allenrealestate.com.au/We share a few mutual clients at the moment – all are happy.CheersJamie

Yep, sticking with ANZ for your current loan is likely to be the best option.It's hard to comment whether sticking with them for the next is the best option based on the limited info available.CheersJamie

If servicing is tight, I’d be hesitant dealing directly with ANZ.

Their servicing calculator is one of the least generous out there so while what you’re aiming to achieve might be possible using a mix of lenders, it may not be possible solely with ANZ.

Cheers

Jamie

Hi MickThe first you thing you need to do is look at your own household budget and ensure that you can actually afford what you're proposing to do first.If you've worked out that you can actually afford it – I'd then speak with someone who has access to more than one lender who will be able to run some scenarios and work out whether it's feasible…[Read more]

Hi thereIf you're planning on buying another PPOR in the future, you'd be best off not reducing the principle on your current investment property loans. This blog entry on principle and interest or interest only loans should hopefully explain this concept.Would your employer be able to make the $419 monthly repayments into an offset account…[Read more]

Qlds007 wrote:
Leonie Dixon is my Solicitor and has acted for me personally on well over 200 property transactions as well as for dozens of my forum clients.CSM Conveyancing6 / 82 City RoadBEENLEIGHQ   4207 Ph: 07 3807 2233 (office)Fax: 07 3807 3841   Email – ldixon.csm@westnet.com.au

+1My clients have used her and have been happy.CheersJamie

ryan mclean wrote:
I have also looked into this in the past and you can secure 97% finance but that is with a 5% deposit. The 2% covers LMI (lender's mortgage insurance) and it is very difficult to get around this. Keep slogging away and keep saving up your deposit so you can buy that house.Only 2% to go!!!!!Ryan McLeanHow To Save For A House…[Read more]

lulu1 wrote:
Hi AllWe own our own home took equity from our house and bought Investment 1 in 2010 loan 330K in 2012 bought No 2 investment 290k  and all was good We are in the process of buying No 3 investment loan 235K and the bank is saying that we will be linking the loan to all other houses as to keep loan under LVR of 80%. I am not sure…[Read more]

Hi KIt looks like you have enough equity to cover the next purchase – which I'd (personally) be inclined to use over cash due to it being deductible and cash being a good risk mitigator.Whether you should sit on three properties with high LVR's comes down to your own risk profile and what you'd feel comfortable with.From an equity point of view,…[Read more]

TheFinanceShop wrote:
PT Bear is a regular contributor on this forum and he is based in Melbourne.

Wrong forum.CheersJamie

I know which broker I'd be going with.I assume the broker that knew a thing or two about investment properties was the one that suggested they be set-up as stand alone?CheersJamie

If they don’t need to be crossed than don’t cross them. It can be a real nightmare later on – especially if you’ve got a few properties all crossed up together.

Cheers

Jamie

New flooring can make a difference to both the yield and value.I'd opt for something sturdy like floating floorboards over carpet – less wear and tear in my opinion. Also quite easy to lay yourself if you can be bothered.CheersJamie

Hi RoyI would uncross collaterise both IP's now.I'd leave the PPOR unencumbered for the time being and tap into equity against one of the IPs which would be used to fund the deposit/costs on future IP purchases.CheersJamie

Hi brokotaA couple of points regarding the structure.Do you ever intend to buy another PPOR? If so, you should convert IP1 to interest only and stop paying down the principle.Instead of using your cash to fund the deposit/costs on IP3, you could look at paying down one of your loans by $35k and then "reborrow" it which will make it deductible…[Read more]

Hi Elle

Without knowing too much of your information its difficult to give accurate advice.

With CBA, if you pay the annual package fee you’ll get a reduced rate.

The offset account is a bit of a pain but it does work.

For purchases, you can use the credit card provided under the package and then pay this off each month or so with funds from…[Read more]

Hi and welcome to the forum.

What do you need and what can you afford?

Is the home just for you or for your family?

If you’re looking to purchase a second soon (and keep the first) you’ll need to know what your borrowing capacity looks like.

Cheers

Jamie

Sorry – forgot to mention.A financial planner won't be able to offer much assistance. You need a decent broker/banker to sort this out for you.If you're comfortable with dealing via email/phone – then you can use any broker in any part of the country.CheersJamie