There's also the risk of someone else purchasing the property whilst your arranging the inspections. CheersJamie

Hi RobWelcome to the forum.The subject says "trust issues" but there's nothing in the thread regarding trusts.With your current PPOR, I'd continue to use the offset for parking spare cash and avoid paying down any of the principle as this debt will later become tax deductible.What are you aiming to achieve with property investing? Do you have a…[Read more]

PT Cruiser for trips to the dog park and Nissan Z for everything else.CheersJamie

Hi JasonWelcome to the forum.Why not do both? Purchase a PPOR and then an IP afterwards.I've had many clients purchase their first home and then use it as a stepping stone towards investing. A lot of these guys have purchased properties that are in need of basic, cosmetic renovations. Upon completion, they generally value up a bit higher than the…[Read more]

Hi LukeIf you do a search for serviced apartments, studio apartments, etc you'll quickly see that they're not the favored property type for many on the forum.Are you only in it for the rental yield and care little about the prospect of capital growth?Any reason why you're purchasing it outright? Have you considered leveraging the money…[Read more]

Hi thereYep, it's pretty standard. Banks don't mess around – they're just looking to get the sale done and recoup their money. CheersJamie

Totally agree with the rest – buying/selling property involves large sums of cash. Doing things cheap can end up being costly. CheersJamie

Terry W or Mick C should be able to advise.CheersJamie

py wrote:
Currently with ANZ. And yes looking for 95% for both.Contract is Subjest to finance.Cheers

I'd give up on the second property and focus on getting the deal done with the first one.CheersJamie

When you say you've gone into "contract" have you made it subject to finance or have you actually exchanged with the vendor? With $75k, you're not going to be able to purchase a $400k property in Emerald and a $550k property in Gladstone. Which lender is your PPOR with? Because if you do end up purchasing these two properties in quick succession,…[Read more]

Hi mumstarI know the feeling – it makes life interesting.I'm going through a similar situation at the moment. My wife and I decided that we wanted to tackle another project and move to the otherside of town. A few weeks later and we've just exchanged on a new PPOR.It's really hard to comment on what's achievable without knowing your actual…[Read more]

py wrote:
Can anyone let me know the lineant banks for Property Investment purpose (95% with tight servicability). Also let me know a contact point who are extrodinary in getting approval (there are quite a few people who will put their hand first but please dont waste both of our times)

Contact any decent broker and provide them the info on…[Read more]

I read the same article yesterday as well. It’s a very interesting development. Hopefully it doesn’t set a precedent for other mining towns.

Cheers

Jamie

5% seems really good. I haven’t seen anyone charge a two week letting fee before – only one week. So that seems a bit steep. If you manage to secure long term tenants than its a good deal – if your regularly churning through tenants, it could be expensive.

Cheers

Jamie

Hi Joe

Feel free to shoot me an email and I can introduce you as a client to a local conveyancer which should entitle you to a discount. I’m not sure how much they charge for selling but for purchasing they’re quite reasonable.

Cheers

Jamie

Did I read that right? The couple featured in the article are being slugged with a $32k p.a body corporate fee?CheersJamie

+1 for Andrew

His knowledge is impressive and he’s a regular contributor to this forum.

Cheers

Jamie

Hi Here to learnThere's plenty of renovated stock in Wagga. The only issue is that you'll probably be making someone else a profit. CheersJamie

Jamie M wrote:
Which could simply mean placing the cash from the offset onto the loan – and redrawing it out.

I should have also mentioned that Dreaming Bigs loan was already a deductible, IP loan. If it were a PPOR loan, then it would be best to set-up a second loan split altogether so as to distinguish the non-deductible from deductible…[Read more]

No worries. What sort of IP are you looking for? If you're in the market for one the cheap ex housing stock, it would be worthwhile getting on the LJ Hooker mailout list. They send a regular update of upcoming stock. Most of it goes for around $100k – $150k and needs work. CheersJamie