Hi TonyHave you carried out reno type work before? It all depends on your own level of expertise. If you haven't carried out this type of work before than it will be tough.With flat-packs, you generally put all the boxes together, than the benchtop, doors and handles. Be careful when cutting the hole in the bench for your sink (don't make it…[Read more]

No worries – done. Best of luck, hopefully you get a few more votes.CheersJamie

Hi GobiinI wouldn't take it personally with ANZ – to be honest, you'll probably end up disliking CBA at some point as well when one of their silly policies gets in the way of your goals.As Michael said above – throughout your investing journey it's about matching the right bank to your circumstances at that point in time. Don't show the banks any…[Read more]

Congrats – just placed my vote.

The wedding pics look great.

Do you follow our Facebook page? If so (and if you want) I can place the link on there as well.

Cheers

Jamie

boney bream wrote:
Thanks Jamie and Richard.I am in Karratha, and dont trust many of the local business around here.  a lot seem to move in looking for a quick dollar and then dissappear.  Do either of you do "long distance business"?  Obviously you guys know your stuff, so I'm ready to make a move.Thanks again….sitting at work waiting for…[Read more]

I agree with Terry.Contact a decent broker to look over your situation before proceeding. You don't want to spend a lot of time/energy on a deal to find out that finance will be an issue.Since you've got a couple of properties under your belt, you also want to ensure everything's structured correctly.CheersJamie

Hi BladeI know it's an obvious response but you should put that question to a qaulified accountant.CheersJamie

With a development it would be easier to place an end value on the project – I doubt this is the case with renos.I could be wrong.CheersJamie

Michael makes some good points.I'd just add that LMI doesn't need to be viewed as a bad thing – I wrote an article for API magazine on the subject hereCheersJamie

Some banks will let you go up to 95% + LMI of the current value. I don't know of any that will lend on the end value of a reno.CheersJamie

Hi TuggerwaghWhat's the owners justification for removing the carpets?CheersJamie

Nice work Engelo – that's a sweet deal. I'm sure Nathan is very proud CheersJamie

Badlee1 wrote:
The issue I have is that the lender I have spoken to are more than happy to do this for me, but my accountant says I am unable to do this due to tax reasons??? 

It sounds like you can do it – it just won't be tax deductible.CheersJamie

Hi AvenaWelcome aboard.I have no doubt you'll find the forum useful.CheersJamie

Orange has been a bit of a hotspot for some time due to the mining.With the cheap housing, I think some of them are restricted to certain purchasers (ie. not investors).I think it's one of those places where it's probably best to hit the ground and scope it out yourself.CheersJamie

Hi ChrisWelcome to the forum.It's possible. It just depends on your asset/liability situation, borrowing capacity and a few other things.CheersJamie

Interesting indeed – they left out the capital city though CheersJamie

Hi Sundance Welcome to the forum.

Sundance wrote:
The bank has given the go ahead for us to borrow 100% on our first investment property interest only to enable us to get into the property market now instead of waiting for our land to sell as we originally intended.

Terrific – just make sure that they don't cross collaterise your unencumbered…[Read more]

Hi KH85Welcome to the forum.Purchasing the property as a PPOR can be beneficial given the concessions available (as you already know).In terms of whether the bank will lend to you on the basis of it being a PPOR or an IP will depend on your borrowing capacity. A decent broker will be able to look into your situation and advise accordingly.If you…[Read more]

Hi Teds

Is the property you’re looking to sell in the same location as the one you’re wanting to buy?

If so, would you consider using the same agent that’s selling the properyt you’re interested in? If this is the case, let them know and I’m sure they’ll do their best to insure you get the property (because now they have two listings).

Cheers

Jamie