Hi LauryIt's been said before but I'm going to repeat – rate is far from the most important feature, particularly when dealing with multiple property ownership. Are you planning on purchasing more properties? Will you need to access equity in this property down the track? Have you considered all of the implications with fixing a loan?It's hard to…[Read more]

Midsomer wrote:
Hi all, I have been at my current job almost 12 months but am getting ready to start with a new company in the next 2 months or so. My question is, can I buy a house in the next month or so, using my current job status for the pre approval etc, even though when the settlement happens I'll be in the new job?

You can……but…[Read more]

Hi there1. Work out what you believe it's worth based on your due dilligence. Look at comparative sales, the vendors motivations for selling, market conditions, etc.2. They can range in price – anywhere between $300 to $900. It's a wise thing to do – but can often be carried out after the initial offer is accepted.3. I won't answer that one.4.…[Read more]

I try and write the odd blog entry when I get a spare moment – http://www.passgo.com.au/blog.htmlI've been writing a few for API magazine of late as well – http://www.apimagazine.com.au/blog/CheersJamie

I have nothing to back this up – but I do believe it adds value. Especially when it comes time to sell – a well maintained, nicely presented home will sell for more compared to the same home without the same first impression.CheersJamie

DWolfe wrote:
I almost cracked $100 for a tank the other day………..

I just got into a bit of trouble for buying a two seater car that cost $107 to fill up this morning…..probably not the most practical purchase I've ever made. CheersJamie

If it's an IP and you have non-deductible debt then I'd be looking at setting up the loan as IO with an offset. Wouldn't be a bad idea to speak with a decent broker about your plans.CheersJamie

AndyDonnelly wrote:
Hi Without doing the pre-approval, it shouldn't hit the credit history??? Is this right?

That's right. There's nothing wrong with pre-approvals – there's only something wrong when you go and get multiple pre-approvals in quick succession.CheersJamie

Jpcashflow wrote:
Also news just in banks just dropped their service levels

AMP have notified brokers that some deals will take up to 23 days to be assessed at present.Certainly not the lender of choice for purchases right now. Makes you wonder why some of these lenders come out with certain promo's (ie. competitive fixed rates) but don't have…[Read more]

Hi C-manGenerally speaking, interest only with an offset account will provide all the benefits of a P&I loan but with greater flexiblity. However, it's not for everyone – particularly those who aren't disciplined savers and will simply pay the bare minimal interest repayments each month.What is the purpose of the loan that you're looking to take…[Read more]

Generally speaking because I don't know the specifics of your situation. If the offer is subject to finance, and the valuation isn't acceptable to the bank, it will result in finance being knocked back – there's your out.CheersJamie

BOQ is the first to move and has just dropped their rates 35 points.CheersJamie

Verity01 wrote:
[perfect example!  we see this scenario often and one I often give my prospective clients something to think about.  I think people forget that they have an assett worth a few hundred thousand dollars but arent prepared to spend say $4000 a year (tax deductable)  to minimise risk and ensure the value of their assett is mai…[Read more]

James from house of wealth is often recommended on the forums.

Cheers

Jamie

Lol – Datsun 200B with an accelerator that had a tendency to stick to the floor (no jokes – it would literally get stuck). Imagine the expression on the folks face when instead of cruising into the drive way I speed pass yelling “I cant stop”

Fast forward a few years later and my current Nissan is a bit more reliable

Cheers

Jamie

Very good point and something that should have been pointed out a long time ago. One of the unfortunate downsides to a common name! The QLD Andrew is a fantastic contributor to this forum and somersoft and I've had no worries referring my clients to him.CheersJamie

No worries – will contact you on Monday. Have a good weekend.Cheers Jamie

Catalyst wrote:
I feel you are going to greatly restrict yourself by looking for a house that is double brick, with a tin roof, with aluminium windows and tiled floors.

I agree with Catalyst. A sturdy IP is always good but when shopping for a property there's other factors that should probably take precedence. Such as the location of the IP -…[Read more]

Hiya adzleaI must admit, I read your post a couple of time and I'm still a bit confused with what you're asking.My understanding is that you have two IPs, no personal debt and current rent? Is that correct?If so, do you plan on buying another PPOR down the track?CheersJamie

soloinvestor wrote:
The insurance risk is not worth it. After successfully managing my 4 properties for years I finally got caught. Tenant did $10K worth of damage and insurance paid for $800!!! BECAUSE I did not have a property manager doing the required inspections etc etc!!

You need to ensure your policy covers self managing. But I get the…[Read more]