If the lender doesn't charge a claw-back on the commission then the broker might be willing to do it without an upfront fee – but the product would need to be deemed not unsuitable for the clients needs.CheersJamie

Richard's your man – he'll sort it out for you.CheersJamie

suzbats wrote:
Question for experienced investors: We are looking at buying an investment property in the inner city (Melbourne) such as St Kilda, Elwood. How do we know if the property will be cashflow positive? I have used Steve's 1 % Rule but would prefer more specific real stories from anyone else who has invested. At the moment, the…[Read more]

Hi TesstWelcome aboard.Your current lender will probably try and use your entire owner occupied property as collateral for your investment property. This is what we call cross collaterisation. To avoid this, you should be able to set-up a second loan against your owner ocuppied property which will act as the 20% deposit and costs on your…[Read more]

Ideal conditions for a buyer – not so good for sellers.

Cheers

Jamie

Hi Jenny

There’s a tonne of info on studio apartments on this forum – do a quick search and you’ll be able to read up about the pros and cons (there’s much more of the latter).

Cheers

Jamie

It’s a property that hasn’t been built. You purchase based on the planned development – and settle once the development is completed. There are a lot of issues to consider with this type of purchase.

Cheers

Jamie

Hi MaxWelcome to the forum.You can access equity in your IP which will be used as the deposit/costs on your next owner occupied purchase.The only issue is that these funds won't be deductible. You'll still retain the deductibility on the current $280k loan but won't be able to deduct any of the equity release because it's being used for an owner…[Read more]

Margaret Lomas has a good show on foxtel – I can’t remember the name though.

Cheers

Jamie

I'm biased – I do a fair bit of writing for API so they get my vote.I also think there's more content rather than advertising in comparison to some of the others – particuarly YIP. I could be wrong but that's my general perception. I like the API databank as well – very handy.CheersJamie

Have a look around before committing yourself. There might be some people on this forum who can provide some suggestions.CheersJamie

BA's can be a good option – I cross paths with them quite a bit due to having mutual clients and some of the deals they can source look pretty good.Choose carefully though – like any profession, the quality will vary. You also need to make sure that they're truely independent and not spruiking off the plan stock in over priced high rise…[Read more]

elisey wrote:
I think the market in the area is probably a bit slow/weak. Hence, may be a good idea to sell without agent??

No – I would of thought that it would be best to use an agent in these conditions.CheersJamie

What Terry said – REA's will tell you what you want to hear…which is often an inflated value of your property.At the end of the day, you should only sell it for what you believe it's worth. An independent valuation should provide some good guidance.CheersJamie

If you arrange your own valuation that isn't linked to a bank application – you shouldn't need to tell them anything, just that you'd like to know the value of your home.I doubt eight valuers would all get it wrong.CheersJamie

casanovawa wrote:
May it also be the case that they have lenders they prefer to deal with or do a lot of business with and so if you agree to go that route you might get access to loan terms that me rocking up to a bank might not be able to convince the bank to let me have??? 

Yeah it can happen. I often negotiate discounted rates for c…[Read more]

Hi WinadilWelcome aboard.1. Interest only with an offset on an owner occupied property works well when you're a disciplined saver and will continue to add a bit of money to your offset on a regular basis rather than just making the minimal interest repayments. This structure generally has two main benefits – the first being that if you ever turn…[Read more]

Plenty of people do it but it's not for everyone.To me – it depends on who's selling the property and the market conditions.Are you confident to enter into negotiations with a potential buyer? Are you happy to take all the calls and follow up with people who have shown an interest? What's the market like where you're selling? If demand is strong…[Read more]

One word  – TerryWCheersJamie

Hi JanineThe lower initial asking price was probably to generate interest – a dodgy tactic but one that's used sometimes.I wouldn't worry too much about having your offer laughed at – put it forward and see how you go.CheersJamie