redleaves wrote:
I have an investment property worth around $355000 and has $282000 owing. I'd like to withdraw $20000 in equity – is this possible? and if so, it is possible to do it without having to take out more LMI? thanks RL

Should probably be doable – depends on your lender. LMI is generally payable when going over 80% (not all the…[Read more]

ledgend80 wrote:
i am confused time to talk to the accountant again

Hi ledgend80Whilst not directly related – I wrote an article for Australian Property Magazine recently on a similar concept hereHope that helps.CheersJamie

Hi DanielWelcome to the forum.It's an exciting time. I'd continue to learn – read books and frequent free forums like this one.Who's providing the professional advice about your first purchase?Personally, I have a preference towards buying the first property as an owner occupied. That way, you get to take advantage of the Government incentives.…[Read more]

ledgend80 wrote:
i thought this is what i was meant to do. so when changing your PPOR to IP i thought I was meant to set it up as interest only with an offset account. is this not the case. I may have not made myself 100% clear as we will not be buying another PPOR straight away could be 6 months down the track.

That's all good then. Use the…[Read more]

ledgend80 wrote:
i know our broker will get a kick back from the lender for the life of the loan for writing the loan but does he get more of a kick back for getting us to refinance to a bigger loan.

Yeah he does – but $20k wouldn't be much more, so I doubt (and sincerely hope) that is the reason behind the suggestion.I agree with Richard -…[Read more]

purpleairplane wrote:
I've never posted here before and have been a member for about a week. I found this great website and the book "From 0 to 130 properties in 3.5 years" about 10 days ago and I'm loving what I'm reading. I always promised myself that I'd have a home or investment property/mortgage under my belt before I turned 40, and yes I…[Read more]

Terryw wrote:

normbay wrote:
I think the guys at Acceptance Finance would give you a better idea than the Forum on this question. Bear in mind that the tax-deductibility of the debt follows the purpose of the debt – so what is the purpose of debt financing for your offset account? If that's to reduce your personal interest cost, then it…[Read more]

BrianN wrote:
– Is this the best way to structure the loans in term of tax?

It would be preferable to have a larger deductible debt against your IP. You might be able to regear via a spousal or trust sale. Do you anticipate the new townhouse ever turning into an IP?

BrianN wrote:
– As the bank valued PPOR at 550K, I dont need an extra…[Read more]

LVR is Loan to Value Ratio.

LMI is Lenders Mortgage Insurance.

Cheers

Jamie

Great, thanks.

Cheers

Jamie

Hi Roadhog

This spreadsheet will help http://www.passgo.com.au/investment-property-analysis-tool.html

Cheers

Jamie

shock wrote:
CTFYT (Cheers…Thanks for your time.)

I like it I think we're in need of another acronym in the IP world.CTFYTJamie

Qlds007 wrote:
Yes when i look at a working week i am amazed how many hours i spend reading things i already now or completing information on forms that clients never ever read.CheersYours in Finance 

Amen, it must be a tad overwhelming at the clients end as well when they see a thousand forms emailed them to them before we can go ahead and…[Read more]

Hi gumtree

Some banks will allow you to do a reval whilst others will require an application to be submitted first. If your current bank requires an application to be submitted then consider paying for one yourself and save the hit to your credit file.

By comparing the last valuation to the new one you’ll have an idea of how much value your…[Read more]

Qlds007 wrote:
Hate to say like any industry there are always going to be some bad apples but hopefully we are raising the standards by the day and a lot of the poorer ones have left or are on there way out.

I think a few hundred would have voluntarily exited the industry in the last month alone….CheersJamie

fWord wrote:
Detached houses win so far…

I don't think I could live in anything else. I love having a backyard and a bit of space between the neighbors. We've lived in apartments and townhouses but I'd take a detached home over them any day.CheersJamie

Shape wrote:
.

It seems like you did a fix rate of 8.09% 4-5 years ago…do you want to go down the “fix” rate path again?

Regards
Michael

If so, you’ll be getting a decent drop in that hefty rate. Three year fixed rates have dropped quite a bit with 5.99% on offer from a few.

Cheers

Jamie

Yep, it's been happening for a couple of weeks now.CheersJamie

Hi GatsIf your main objective is to pay off both debts asap then keep them as P&I.If you have any non-deductible debt (PPOR loan, car loan, credit card, etc) then best to pay of this debt before paying down the IP debt.CheersJamie

menia wrote:
Hi guys,I'm looking to buy an inevstement property in Sydney. My budget is $750k and this would be a buy and hold option, I'm in it for the negatove gearing and the capital growth.I'm interested to hear evryones opinion as to which areas are good to invest in?CheersM

Hi MWelcome to the forum.My first question would be why are you…[Read more]