Hi Lila

You set up a second loan against your PPOR which is used as the deposit/costs on your IP.

A separate loan for the remaining amount is then set-up.

So you end up with three loans.

Cheers

Jamie

Sure, try Peter Tersteeg at Sage Lending – http://sagelending.com.au/

Cheers

Jamie

Hi Tonto

Welcome to the forum.

As a general rule, new properties are sold at a premium and as you’ve alluded to, there’s often little scope to add value.

Will it experience capital growth? Some questions id be asking are what growth factors exist within the current area? Are there growing industries? Is the population increasing? What are…[Read more]

Hi Dougie

Where is the property located?

Cheers

Jamie

I'd generally go the older with larger land content – especially if there's an opporunity to sub-divide and add value.With the new property – you're getting a very small parcel of land and  there's obvisouly no scope for value add. However, the big kicker here is the $26k incentive.The $30 difference in rent between the two isn't that…[Read more]

Hi AnniePPOR is Principle Place of Residency – an owner occupied house.I've confused you because I read "PR" above as PPOR – but of course you meant Permanent Residency.CheersJamie

Hi Annie LeeIf you can provide a couple of years of constant work history within the IT industry than you should be able to get around that hurdle. It will also depend on the length/conditions of your contract.Having said that though – you're looking at a 95% lend on an IP, so your application needs to be very strong.I assume your either a…[Read more]

Hi MGenerally speaking – the profit is added to your  taxable income and taxed accordingly.This should give you an idea of how much you'd be up for – http://www.yourmortgage.com.au/calculators/capital_gains_tax/CheersJamie

Hi LilaWelcome to the forum.I'd be skeptical as well. To me, someone that's selling new properties is a glorified real estate agent rather than an independent buyers agent. If you're considering using a buyers agent, hone  in on a particular area where you'd like to invest and then engage a good BA in that location. Check that they're accredited…[Read more]

Derek wrote:
Terry – send him a PM.

+1, the guy clearly knows his stuff. You'll be in good hands.CheersJamie

Johnny24486 wrote:
Why should I put it into an offset account?

Hi JohnnyLook's like it's already been explained but if it helps, I wrote this article for Australian Property Investor magazine on this subject.CheersJamie

Terryw wrote:
Just excel with one sheet per property and then link it all back to the summary sheet.

That's all I do. Have income on one side, expenses on the other. Spend 10 minutes each month updating the spreadsheet. Spend a couple of hours at EOFY double checking that you haven't missed anything and email a copy to your…[Read more]

I'd consider what Terry mentioned. Besides, tapping into equity can take a while. They need to assess the loan, issue loan docs, you sign and send back, they process and settle. It can take up to a month.CheersJamie

Terryw wrote:
I remember back 10 years ago a bank manager told clients to make a investment loan PI. Otherwise how will you pay it off? This is while they still had private debt. Could have cost them many thousands in extra tax.

Scary hey. I had a client tell me that a financial adviser they spoke to recently made the same remark! How else are…[Read more]

patcon wrote:
Hi guys thanks for taking the time to reply!!! You guys are great and very wise!! My wife is on 70k and I'm on 50k. We have no liabilities except for credit cards combined 10k. And really no cash in hand. So I'm thinking whether or not to take out the whole amount to loan. Do know really what to do cause I am really keen to invest…[Read more]

nightelves wrote:
Hi I was told by a bank manager that you can actually tell they bank that you are buying your property for investment therefore only paying interest only but when you actually make the purchase instruct the conveyancer to put the property down as PPOR.

Wow. If an independent broker gave that sort of advice, ASIC would be…[Read more]

Hi thereHave you already sussed out local property managers? They're often in the know when it comes to tradies in their area. Perhaps find a good property manager and ask them if they could coordinate on your behalf. It would be a lot of work for them – and outside of their normal scope, so some sort of payment will probably be requested.CheersJamie

Not sure if he operates in the area but Propertunity is an excellent contributor to the somersoft forum and really knows his stuff. If he can't assist, he may know of others that can – http://www.propertunity.com.au/CheersJamie

Hi Kosta

Welcome to the forum.

Sounds like you’re in a great position to kick start a portfolio (in terms of equity anyway).

Finance structure is important here. You don’t want to use the entire value of your PPOR to secure your IPs.

Instead, you can set-up a loan against your PPOR which will act as the deposit/acquisition costs on your IPs…[Read more]

Hi WaydoI know what you mean.You can almost bet that the response will be something about how the other operator doesn't offer the same quality as what they're offering.Just be upfront with them. Tell them you've gotten a few quotes and want to go ahead with their company but the price is holding you back – would they be willing to match x…[Read more]