I use broker software but this link does the trick – http://www.infochoice.com.au/calculators/home-loan-calculator/The only difference should be whether it's P&I, IO and the term.CheersJamie

Your broker should be able to advise on the best structure. If you have any doubts about the way they're approaching things – then contact any of the decent brokers on this forum and they'll be able to sort it out for you.CheersJamie

Never reduce an IP loan if you have a PPOR loan.CheersJamie

I'd opt for option 1 so as you can limit the amount of LMI payable. Your broker/banker should be able to run through some scenarios with you on the cost/benefits of a few options.CheersJamie

Michael's point above is a good one. Your broker should be able to advise on which lenders provide this service.CheersJamie

Sounds like your bank cross collaterised your two properties at the start – what you've described (having to reduce the LVR to below 80% is a characteristic of this).Technically, what your broker is saying is correct. However, you're in quite a unique situation and your accountant is supposed to be the "tax" expert. CheersJamie

Hi ggbehWelcome aboard.I'd put in a quick call to your solicitor/conveyancer and ask them to find out if completion is still on track for those months.If it is –  then best to start moving now.CheersJamie

It depends on who you're targeting to rent the property. Do you know what sort of demographic lives within the area? Personally, I'd be hesitant – not because of your choice of tenant but the effect it could have on future growth as future buyers will have a similar reluctance to purchase it.CheersJamie

Qlds007 wrote:
These days i would recon i see less than 10% of my clients and the rest we transact thru email or the odd phone call.

Totally agree. I've even got clients in the ACT that I haven't met in person. Email/phone is so convenient and also enables you to broaden your scope when looking for professionals – you're not just restricted to…[Read more]

Hi Macka

The branch member is restricted to the servicability model that applies to their bank. Richard knows his stuff – so if you want it done, best to get him to sort it out for you.

Cheers

Jamie

We’ve had valuations revised for clients. It’s generally a matter of providing three recent comparable sales which support your argument. Sounds like the valuer has botched this one up as they are using smaller dwellings, etc as comparisons. I’d use that as an argument as to why their valuation was inaccurate.

Cheers

Jamie

I try and gain access to IPs before settlement to start renos. The first IP we gained access to was a run down 2 bedroom unit that we renovated over a 4 week period after exchange and before settlement. On settlement day, new tenants moved in and paid $80 p.w more and the revaluation came in $40k higher – we spent just under $3k on the…[Read more]

Hi oceans

Welcome aboard.

I like the idea of buying a property that you will add value to. In my experience, this can be a really effective way of kick starting the portfolio. Just don’t over capitalise on the renos and find a place that doesn’t need structural repairs.

Richards comments regarding the interest only loan with the offset is…[Read more]

Qlds007 wrote:
I would be wanting 1.06% discount..  

We organised this for a client recently on total borrowings of $750k + with a low LVR.That said though – WBC can be difficult to negotiate with.CheersJamie

Hi thereThere's been quite a few posts on Logan so a quick search should return some good info.CheersJamie

To look at historical CG you can find the info online, in property mags and via  residex/rp data reports. We've also got some website links which you might find handy here – http://passgo.com.au/property-data-websites.htmlAre they good places to invest? There's a really broad question. I know that there's many people on this forum that have IPs…[Read more]

Hi RustyWe self manage our local IPs. We don't do it for the cost savings – we just had issues with inefficient property managers. We've had all sorts of tenants – from tenants that we've had to evict and go through the entire tribunal process to fantastic tenants that we'd only need to carry out inspections once per year. As long as you follow…[Read more]

Sorry, using an iPhone and his done before I’d finished.

Added benefit of increasing deductble debt whilst lowering non deductible debt.

Cheers

Jamie

bobbifisha wrote:
Hi,I'm new to this and don't really know my options. I'm 28 years old and just have bought my first investment property, I have a mortgage on it for about $240, 000. I've lived in it for 6 months so i could get the first home owners grant and now i'm looking to rent it out. My minimum monthly repayments are $1500 but since i've…[Read more]

Hi JohntanWelcome to the forum.Continue to read widely – have a look at some of the books from Somers, Lomas and Yardney. All have different methods of investing.Forums like this are a great free resource – generally with up to date info.There's a bunch of links on our website that you might also find useful -…[Read more]