I think Richard Taylor has provided some good recommendations for accountants in Brisbane recently. It would be worth while trying to hunt down those posts.CheersJamie

Yep, it's quite handy. Always good to have a quick reference point to see how markets across the country are performing. It amazes me that this is still free – I'm sure people would be willing to pay for it.CheersJamie

Hi and welcome to the forum.

Let them threaten. It’s an arduous process that they probably won’t go ahead with. If they’ve already signed the form to release the bond to you then that’s an indication that they agree that you should be compensated due to the condition the property was left in.

It just sounds like scare tactics to me. I’d get…[Read more]

I don't know if it's a good idea. There's already so much spam on this website. Having an area on the forum that enables users to post "good" property deals will probably result in more spam.CheersJamie

Do you live near the IP or have friends/family nearby that could lend some furntiture for a short period? Is there an IKEA nearby?CheersJamie

tigermiger wrote:
Thank you Jamie M.Is there an obvious way that I can tell if the mortgage broker is going to cross them?

If they stick to the structure you've outlined then they should remain uncrossed. The loan offer docs will also outline which securities are being used for the loan – it should only list the one property.CheersJamie

What Michael said.It's surprising how often this comes up though. We get asked it quite frequently.CheersJamie

Hi AndyWelcome to the forum.There's no right or wrong answer. It comes down to personal choice.A few comments though.An issue with $100k properties is that they're likely going to be in areas where capital growth is minimal. Even if they're cash flow positive, they're unlikely to land you too much extra dollars per month.You'll also need to check…[Read more]

Scott No Mates wrote:
Take it up with the Licensee, if they are aware of how incompetent their PM is (at the risk of losing business) something might be done about it.

Good point. They'll also want to steer clear of any negative word of mouth.CheersJamie

Valuers will say that they look past this – but in my experience, a well presented, uncluttered property can be helpful when getting a revaluation done. I just had an IP revalued 6 months ago and it came in a little short. I suspected it was because of the tenants living in the property at the time – they were quite messy and the house didn't…[Read more]

Hi there

It’s generally ok to have both loans with the same bank providing their not crossed.

Cheers

Jamie

You can tap into the equity in your PPOR for an IP without it effecting the CGT exemption on your PPOR.

Cheers

Jamie

IDV8 wrote:
Are there certain companies that aim to help you create a successful investment in these situations? In terms of the different loans and what Jamie has stated above? Or would I simply pick a home loan company and tell them what I'm trying to do and they'd have plans for that?

Hi againYour best bet is to speak with a mortgage broker…[Read more]

Hi IDV8Welcome to the forum. What you've described is quite common and can be a handy way to take advantage of Govt. concessions whilst kick starting your portfolio.From a finance perspective, if this property is going to become an investment then I'd consider a couple of things.Firstly, I wouldn't pour too much of your own money into the deposit.…[Read more]

It could work. It's not the ideal way to go about things but your situation is unique given your limited borrowing capacity.You won't be able to claim any interest deductions as there's no debt securing the property – meaning you'll be paying tax on the income.  That said though, the additional income will improve your borrowing capacity for…[Read more]

I agree with Terry. There's also a heap of decent books (which you can grab from your local library) and monthly magazines that might be worth a look. For carrying out due diligence, there's a number of links on our website hereCheersJamie

Due to your limited borrowing capacity I'd be inclined to continue living rent free (providing it's not a burden on your relationship with each other and/or family member) and look to purchase something that's at least cashflow neutral (so as it's not a burden on your finances and doesn't diminish your borrowing capacity too much). With low rates,…[Read more]

It's a huge sum of money so careful planning is required. What are you aiming to achieve from property investing?A lot will come down to your own risk tolerance levels and other information such as current incomes, existing liabilities, etc. With property, it's a good idea to surround yourself with a team of professionals – a good IP savvy…[Read more]

This isn't the full report – just the market indicators for the month. Still quite handy though.CheersJamie

Nope, that’s pretty much it.

A valuation or market appraisal could be handy because you’ll need to be able to work out how much CGT is payable for the couple of years it was an IP. However, given it was purchased it late 2010 it’s probably not necessary.

Cheers

Jamie