With "modern" apartments there's usually little scope for improvements via renos. If you're looking to increase the yield – perhaps consider allowing pets (if strata allows of course).CheersJamie

Qlds007 wrote:
My suggestion would be to ensure you structure the loan correctly from day, buy it as a PPOR and then you can always look to move out of the property and rent it in the future.

Yep, this is my general line of thought as well. Also, a handy way to get the best of both worlds is to purchase something that you can add value to…[Read more]

It's always good to diversify in terms of location but if you've found a deal that looks good and your confident it will do well – then go for it.CheersJamie

Hi AnthonyIt's good to see you amongst the forum. I think we may have exchanged emails during the week.You should stick around – it would be handy to have an expert in this field available on the forum.CheersJamie

As Richard  said, 90% on probation is certainly possible and you'll still be able to get a decent product.Give Richard a buzz – he'll be able to sort it out for you.CheersJamie

Hi IDV8Best to speak with a mortgage broker that deals with investment properties.You could potentially have the best of both worlds by buying the right property as your first home and adding some value through cosmetic renovations. If the property is valued higher than what you purchased it for – you may be able to tap into the newly created…[Read more]

I was keeping a close eye on Logan a couple of years ago. The prices seemed to have dropped further since I was interested. The location is great – the socioeconomic situation is not the best. But if you're after something with a good yield at a relatively low price then Logan isn't a bad option. Just check that the body corp fees aren't too high…[Read more]

Chris89 wrote:
With that said im not necessarily in the best posituion to invest, so im not too phased as to whether I putr an offer in or someone else purchases.

Perhaps it's best to wait until your situation improves before purchasing your first IP. If cashflow is the issue – you really don't want to overstretch yourself early on. It won't be…[Read more]

I guess the moral of the story is to not always listen to the bloke at work.CheersJamie

Hi dodo_lurkerThere's no clear benefit unless your friend is fairly confident that the negatively geared IP is going to experience enough capital growth in the future to offset the losses from negative gearing and also make up for the opportunity cost of selling his other IP.It's nice to be able to claim the losses associated with an IP…..but…[Read more]

Hi ArchieWelcome to the forum.Prob best to have a chat with a broker/banker about your borrowing capacity and the feasibility of either purchasing a PPOR or IP.CheersJamie

Tarek Baytieh wrote:
Hi TigerTo keep the properties from being cross collaterised, Loan A = PPOR (joint names), Loan B = using equity from PPOR to pay for purchasing costs (in fiancees name) , Loan C = new loan to cover the cost of the house (in fiancees name). (Does it matter if loans A-C are with the same bank?)Let's just clarify… you wish…[Read more]

I read that first post and though $240k!!!! Wow!!! I must be looking at the wrong properties.I'm far from an expert on the areas but I'm slowly getting to know them. What are your plans with the property? Is it buy and hold for a lengthy duration or will you sell in a short time frame? CheersJamie

Hi AJWe have a fair few handy links here – http://passgo.com.au/property-data-websites.htmlCheersJamie

Derek wrote:
Maybe a buyers agent otr similar.If you are going down this line – work out you rmust haves and get them to do the job for you.

Yep, that's what I'm doing for the next IP. I don't have the time or energy to search around. With the BA, I can provide a description of what I'm looking for and leave it in their hands. They're not…[Read more]

Welcome aboard CheersJamie

Hi MattWelcome to the forum.I agree with what Derek said. A good broker will assess your situation and advise on how to proceed with your next purchase. I wish I could offer more but there's not enough data to comment further.CheersJamie

Hi AdzleaWelcome to the forum.What sort of advice are you after? If it's financial advice then use an independent broker that understands the ins and outs of IP financing. If you're after someone who will advise on the actual property, then hire an independent buyers agent.CheersJamie

Yes – it will probably still be worth it. CheersJamie

Hi thereI'm not 100% sure of the correct answer but I'd assume since you haven't exchanged contracts you won't have too many rights. I've been in this exact situation before – we didn't end up buying the property but that was because of a different reason.You could threaten to pull out of the deal – that might make them change there mind. There's…[Read more]