Paullie wrote:
Jamie, do you mind if I contact you for some advice?

No worries at all. All my details are below – call or email, whichever is easiest for you.CheersJamie

crusty wrote:
YOU HAVE TO FIND OUT WHAT THEY WANT and why  they are selling.   

Totally agree and it's a really good point.It's not always about the price. The first thing to do is find out what their motivation is for selling and base your negotiations around that.CheersJamie

Good IP accountant in Melbourne  = Jame's from House of Wealth http://www.houseofwealth.com.au/CheersJamie

Hi PaullieNo need to use the WHOLE property as security for the next. You just need to tap into enough equity that will cover the 20% deposit plus costs.This blog entry (while not directly applying to your situation) might help – "how to use equity in your home to purchase an IP"CheersJamie

Hi Paullie

Sounds like a messy structure to me – this will sound bias but your best bet is to touch base with a decent broker to work through this.

From the info provided, I can’t see why any security needs to be crossed.

Cheers

Jamie

ummester wrote:

sapphire101 wrote:
Just remember, being a landlord ain't easy. You have to manage the manager and it's very proactive when they don't get things right.

So why not just manage it yourself? Save money and get things done the way you like.

Totally agree – that's the main reason we started doing it…[Read more]

Hi JonesyWhat makes you believe that the properties they are selling will make for a good investment?Have you done any due diligence on the area? Have you sussed out comparable sales? Are they building and selling or are you dealing with a middle man who stands to make a commission on the purchase? Did you contact them or did they contact you?CheersJamie

Ben of Brisbane – maybe it's best to get  Richard of Brisbane (above) to sort this out for you. At least you won't have to worry about the structure being buggered up.CheersJamie

FYI – your broker can send the request into CBA pricing for the rate discount mentioned above.CheersJamie

Hi BenIf total borrowing is greater than $750k and LVR is sub 80% then hit them up for a variable rate of at least 6.8% sighting ANZ's current breakfree offer.CheersJamie

jenny mills wrote:
I couldnt see an appropriate topic to share this little story.Several years ago I remember seeing Steve on TV sharing his success. I bought the book – 350 properties in 3 1/2 years. I was dead keen to implement this way of investing, but my husband didnt have the confidence. Now I'm divorced and single, and financially se…[Read more]

JacM wrote:
I've implemented this strategy.  The vendor was so blinded by an obsession with wanting a particular price, the offer was immediately accepted with little attention paid to the fact there was a 6mth settlement attached I said I'll give you $x in 90 days or $z in 180 days,….. in both cases "subject to finance, building and pest and…[Read more]

Hi MarmelThanks for your question.I'm a little confused about the first sentence which mentions your PPOR also being your IP?How I like to structure things is have every loan set up as IO  (PPOR and IP loans) with an offset account against the PPOR loan. Any spare cash then gets parked in the offset.When it comes time to buy your next IP, you can…[Read more]

True CheersJamie

Hi GodiverIt's not that simple.You can re-gear debt but it will involve selling the assets to a new entity or a spousal sale.CheersJamie

EPI_Den wrote:
I'm with Commonwealth Bank and I recently negotiated a further decrease on my loan. I'm now on 6.61% which I think is 1.14% below their standard variable rates. I'm happy with this but it's not out of the question to fix part of it if I see a really good deal! Den

That's a very decent discount. We negotiated a 1.06% discount…[Read more]

Tarli wrote:
Hi allnew to this forum, wondering if anyone has experience similar to share.My husband and I are mid-50's, own outright one IP bought 22 years ago(I know, why did we stop???) valued at $800k, rented for $430/week ($22,400pa)We don't want to sell it just yet, even though yield is not good, growth prospects are great,and we'd have a…[Read more]

Grab a few quotes – Terry Scheer, Onepath (ING) and Real Insurance are generally quite competitive.CheersJamie

QM wrote:
Buy now or hold off? No one knows of course but am hearing so many so hold off for 6 months as prices will REALLY drop. Then I hear forcasted interest rates cuts which would push home prices up?? Am looking at unit in Collaroy in the northern beaches but still feel better value as a purchaser may be lying ahead yet you don' want to…[Read more]

I'm not quite following.Did you use a mentor type company that operates as a one stop shop for investors?What have they done that you're not happy about?CheersJamie