I send my Melb clients to James at house of wealth – I’m sure it’ll be worth the additional travel time.

Cheers

Jamie

At this stage, you need to keep it simple – I'd start with consulting any of the decent brokers on this forum to see if anything can be done.Gibbo is right – the OTP contracts don't normally allow provisions for finance approval, it's certainly not in the developers interest to have this.CheersJamie

Yeah – the deductions are determined by ownership. If you own 100% of the property than your entitled to 100% of the deductions.CheersJamie

From a lenders point of view, it's not normally an issue having husband and wife on the app but only having one on the title.CheersJamie

Hi MichaelMy initial thought is to arrange another valuation via another lender and hope that a different valuer picks up the job. You want to use a bank that allows valuations to be ordered upfront without an application being submitted.Which bank are you dealing with at present?CheersJamie

Hi RachsterWelcome aboard.A similar thread was created not that long ago – ie. good Darwin accountant.I'm not sure if there were any responses. If you do a search you'll be able to find it.You can certainly use an interstate accountant. As long as you can pick up a phone and type an email – and maybe scan/fax a few things, then you have the entire…[Read more]

DOUGADCOCK wrote:
hi all I have a question which i hope you guys can help me with. I currently changed my investment strategy and now I'm focused on cash flow positive real estate. Just like steve did. just wondering if anyone knew a good formula. or where to look for these properties to give me a jump start in this new direction. Thank you…[Read more]

You need to have confidence in the professionals that you use and it doesn't sound like your accountant has a grasp on the basics of property investing and the tax concessions associated with it. It actually sounds like you have a better grasp on the concepts of gearing.Mick's point above is a good one – it might be negatively geared in the short…[Read more]

Go west. Plenty of investors on this forum who are buying out there.CheersJamie

Hi and welcome to the forum.I started in the same way most of my clients do – by saving a deposit.In my opinion, the first property purchase is often the most difficult. Since my first purchase a while back, I've been able to use equity ever since for each subsequent purchase.CheersJamie

Hi thereYou can only claim interest on the balance of the loan when it turns into an IP.  In this case, it looks like it's going to  be $15k – which isn't ideal.Here's an easy to understand article that I wrote last year on the topic.CheersJamie

Hi there

Lenders generally look at the last 12 months so you should be ok from that perspective.

Cheers

Jamie

Hi KeikoGet in touch with the local council and get their advice in writing. Swimming pools = huge liability. CheersJamie

Hi Paul

Welcome aboard.

95% is the max – but you can have mortgage insurance added on top.

Cheers

Jamie

He’s not based in Melbourne and I’m not sure if he has anything to do with US purchases but I wouldn’t hesitate to use Terry W from this forum for any legal eagle stuff – he’s based in Syd.

Cheers

Jamie

Hi Troods

Either the offer was low ball or the vendor has unrealistic expectations. Work out the max your willing to spend – if it’s more than what you’ve already offered, provide the revised offer with a time limit for a response. Don’t go straight to your max offer – allow a little wiggle room for negotiations.

Also find out what’s motivating…[Read more]

It should be ok given that it's all IP related so all should be deductible.I'd be a little concerned that your loan is cross collaterised with another property though – not the best way to structure loans, particularly if you plan on purchasing further investment properties.CheersJamie

kat13 wrote:
Is it then better as we are setting up our refinance with an offset account to have our current home changed to interest only which will be covered by the rental?

Hi KatWhat's your primary reason behind renting? Is it to save money and/or enhance your borrowing capacity to purchase IPs?If so, you need to crunch the numbers on the…[Read more]

Terryw wrote:
Thats ok as long as he doesn't catch the disease 'analysis paralysis'.

I suspect Kris might have already copped a dose – 4 years is quite a while CheersJamie

Offers are treated differently depending on the state.For instance, if you make an offer subject to finance in QLD or WA – you'd probably need to show proof that the finance has been knocked back if you decide not to proceed.It's usually a different story in NSW or the ACT – offers aren't usually made via formal agreements.What happens if all…[Read more]