Hi EthanWelcome to the forum.Wow – that's incredible, only 14 and thinking with that mindset. When I was your age I was spending all of my money on basketball cards.CheersJamie

Hi thereAlways good to see a fellow Canberran on the forum.There's a group of people who get together at the Canberra library once a month – there's usually a monthly reminder post. If you do a search you should be able to find the last post and subscribe to their facebook page.CheersJamie

Hi thereWelcome aboard.A contract of sale will need to be drawn up.You'd then need to arrange finance for the purchase.CheersJamie

Hi thereSpeak with a good accountant.If it's a once off and easily identifiable – then I can't see why the interest on that portion couldn't be claimed. However, I'm not an accountant so would recommend you seek professional advice.With the offset – you don't lose the redraw facility. You just stop using it – and use your offset account instead…[Read more]

Jpcashflow wrote:
Wayward Anaconda,Forums are for networking and its a big skill in business, maybe you should change your mentality. Guys like Richard, Jamie and other, have there details on the net, beacuse they are A) Good at what they do its called marketing and these forums are for networking C) I would rather contact one of these guys,…[Read more]

Derek wrote:
It sounds like you are a little fixated by interest rates – interest rates are only part of the finance equation as you also need to consider serviceability, or, in other words, how much you can borrow.

Amen – it happens all the time. Trying to save $20 per month on a 0.1% lower rate but wrong lender can end up costing a lot more…[Read more]

Hi LizWelcome aboard.I like the Lomas approach to property investing and I have enjoyed her books – but I'm not a huge fan of the approach taken in structuring finances.The STG portfolio loan is fine – but you need to set-it up correctly. You just need to set it up as a second, stand-alone loan against your PPOR which will be used as the…[Read more]

Here you go http://www.passgo.com.au/blog.htmlWe try and update it when we have a spare moment.CheersJamie

Personally I'm a fan of IO loans accross every property in the portfolio – even the PPOR. I wrote an article for API magazine on this recently – instead of copy/pasting, here's the linkCheersJamie

I usually use Real Insurance – they let us self manage, seem reasonably priced and the service so far has been pretty good.CheersJamie

Hi AmitYou can't go too far wrong utlising Nathan's services. He posts on here and somersoft sometimes – do a search and you'll find some of his posts. We've had some mutual clients and they all seem pretty happy.CheersJamie

Terryw wrote:

Mayuran wrote:
I have variable interest only loan . how do I pre pay the interest ? just transfer extra money into home loan ? or is there a special procedure with the bank? Thanks Mayuran

Transferring extra money into a loan will result in the repayment of principle.You have to change your loan to a 1 year fixed and pay the…[Read more]

Hi there

A simple excel spreadsheet should do the trick.

I have one that I spend 10 minutes updating each month.

I have a summary page at the front that has total income/ expenses for the year and a separate sheet for each IP which feeds into the summary page.

Cheers

Jamie

Hi KatGenerally speaking (and I don't have a clue about what your situation looks like), you'd roll the IO period over for another term of 5 or so years. For some lenders, it's a form you need to complete – for others, it's a new application. CheersJamie

Does your current accountants service justify their fees? I would be hesitant to compromise quality for costs – but that may or may not be the case here.I've been told that Kevin Zani is pretty good http://www.beaumarisbusiness.com.au/CheersJamie

Like Richard said – an equity loan (or interest only loan) will generally achieve the same result as a LOC, albeit at a lower rate.Do you really need to spend all of this time/effort trying to get up to speed with lender policy, products and structure? CheersJamie

I wouldn't say it's an interesting initiative. It's a pretty standard response – if they want to boost the building industry, they offer an incentive to buyers. Not sure if it's the most effective way to go about things – it generally inflates prices which offsets the subsidy. Certainly looks good for the Government of the day…[Read more]

Hi NewsamLet's take a step back.Why are you asking about these companies? What are you trying to achieve from property investing? Are these companies offering you anything different to what you can accomplish with your own group of professionals?CheersJamie

I haven't heard of them either.Are they also selling OTP stock in QLD at the seminars? CheersJamie

We've got a free IP calculator on our website that you might find handy – http://www.passgo.com.au/investment-property-analysis-tool.htmlCheersJamie