Totally agree – I flagged that on another forum.A lot of people go into OTP purchases without knowing the risks involved in terms of financing the deal.The first thing those buying OTP should do is speak with a broker/bank about their situation so they can be reasonably confident that they can secure finance upon completion.That said though,…[Read more]

You could try Jacque Parker from House Search – plenty of positive comments on the Somersoft forum.

Cheers

Jamie

Yep sounds quite hefty – I doubt the points will make up for it.CheersJamie

Ahhh, the old melon head syndrome – it's prevalent in the industry. Whilst my head's not quite a melon, most of my business is done with interstate clients that I've never physically met – technology makes it pretty easy.CheersJamie

Hi pale aleIf you do a search on "cross collaterisation" you will find a number of reasons as to why separate loans are a much better alternative compared to crossed loans.CheersJamie

ING are not one of the better lenders for IPs IMO – cashouts can be a real pain.CheersJamie

Hi energy4anarchyIf you prefer the face to face contact – I can recommend Pete Tersteeg from Sage Lending in Nunawading (get in quick though – he's off to Fiji next week and I'm sure finance will be the furthest thing from his mind).If you don't require the face to face contact – then give Michael above a call. He's more than capable of working…[Read more]

Agree with Richard – we've had a few of these cross the desk recently and none have posed a problem. The banks seem to like IT professionals CheersJamie

That's true Paulie – and it's easy to get around the $500 issue with a little creativity. You can also accept payment into the MISA. We have a MISA set-up against our PPOR – all the IP rent gets paid into the MISA.CheersJamie

Good points above.If you have a PPOR than place an offset against it.The MISA account only offsets a third of the fixed loan.CheersJamie

Paullie wrote:
Now Id need to pay capital gains on the profit, which would only be 23k.Is this correct?

Hard to say.The CGT calculation will be dependent on your taxable income during the period, date the asset was purchased and sold, etc.Here's a calculator that might help http://www.yourmortgage.com.au/calculators/capital_gains_tax/CheersJamie

I'm with the others. If you've honed in on a property that you are serious about then the building/pest report will provide peace of mind.Also ensure that you are in a good position to source finance as well.CheersJamie

Hi new2investIt looks like you've crossed your PPOR with IP1.I'd look to tidy up that structure first before moving onto the next one.CheersJamie

Hi NellyWelcome to the forum.What makes you think the property will go up in value over this time? Is it the location or are you doing something to the property which will add value?CheersJamie

JackPerth wrote:
–          I am looking for an IP NOR, probably Beldon/Heathridge/Craigie/Edgewater, my wage is $62k per annum and I have $18k saved in the bank. I guess I am wondering, where you would invest in Perth within the next 6 months, am I realistic in thinking I can buy something worth $375k and should I hold onto the duplex even kno…[Read more]

Jac has offered excellent advice. If you do make an offer – make sure it's subject to your terms.Best of luck with it.Jamie

Hi EdmundI don't know much about mentors or mentoring programs but if I was going to opt for one, I'd look into what Nathan Birch has on offer. He posts on this forum and walks the talk.CheersJamie

Hi JinsI would be sifting through all of the strata minutes and any other docs they have on file. Normally the REA can provide written consent for you to check through these things – you should be able to pop down to the strata office and look through the docs.I don't have an issue with REA's but I wouldn't take their advice as gospel. Do your own…[Read more]

If you need emergency treatment it would be handy If you didn't – then I would imagine all the commotion associated with living close to a hospital would be quite a pain (pardon the pun).My immediate thought is that it would have a negative impact – but I could be wrong.CheersJamie

Grab a medion computer from Aldi – they're actually really good.CheersJamie