Terryw wrote:
I would be scared of putting my money in that FH savers account. It is locked away.

I agree – I'd probably just pop it in a savings account. Boring – but at least it's accessible. In the mean time, just continue to keep learning – forums like this are a great, free resource. CheersJamie

I think he/she is in the process of getting one but it hasn't settled yet.CheersJamie

Henry Adams wrote:
Richard, Thanks for the advise, from my understanding is that the broker told me to pay for the bank valuation fee if the value of my property has gone up greater than the buying price. So if it doesn't then I do not have to pay for any fee.

Does sound a little odd. Just out of curiosity – do you mind sharing which lender…[Read more]

Here's a recent article about the topic in the Age – http://theage.domain.com.au/home-investor-centre/beware-of-the-false-profit-trap-20110909-1k0ek.htmlCheersJamie

Hi mgYou can use this calculator for a quote https://www.depositpower.com.au/webapp/depositpower/guaranteeQuote.do?country=au&brand=veroThere are two major companies – deposit power and deposit access.CheersJamie

Hi againYep, I'm based in Canberra.Feel free to give me a buzz during the week and I'll help you work through your questions.Do I think a trust is beneficial? I don't know enough about your situation to advise – but in general, I think that too many people get caught up in the idea of purchasing in a trust structure when it may not be that…[Read more]

Scott No Mates wrote:
Jamie do you mean places like 'blinds r ussa' in Via Finestra Roma?

Haha – nope, but I actually used an o/s company for custom made blinds a few months ago and was impressed with the quality and price. Better than the blinds I picked up from spotlight.CheersJamie

Hi againIf you decide to buy it as an IP – I'd consider using less of your own cash and more of the banks. If you took out a 90% loan (and paid some LMI) you'd be able to leverage more of the banks money and also be able to claim more on the interest repayments. The remaining cash could then be parked in an offset account.Personally, I wouldn't…[Read more]

Once the "top-up" on your loan has settled, the funds will become available. If they are not available before the auction – you can look at getting a deposit bond.CheersJamie

Hi investingcoupleWelcome to the forum.If it were me (and this is only my opinion – it wouldn't suit everyone) I'd look at purchasing your first home as an owner occupied property. That way, you can take advantage of the FHOG and possibly concessional stamp duty (who knows how long this will continue – NSW is scrapping it from 1 January 2012).For…[Read more]

Hi JimJust google them. There are heaps of companies operating abroad that ship custom blinds to Australia.CheersJamie

beau wrote:
  Is it disadvantageous tax wise? And are there many other hurdles I don't know about? I was hoping to hear from someone who may have done it. Cheers

It's a good question. If it were a single dwelling that was your PPOR and you rented out a room or two, I'd assume it would be considered a private arrangement – therefore you…[Read more]

Hi PaulieI know this is a boring, conservative response but you really do need to seek advice from a qualified accountant. There are other factors that will determine the best course of action – your profession will be one.It's important you get the right structure in place from the beginning.CheersJamie

Derek wrote:
I find it very interesting that the Federal Government established the NCCP guideliness under ASIC and yet there doesn't appear to be an appetite to address property investment advisors. 

Good point – I agree.CheersJamie

gn2011 wrote:
What is consider as a long vacancy period? 1,2,4 weeks or more? Just recently settle one, problem is before settlement, we can't show the property to prospective tennant.

You can ask the vendor for permission to advertise the property before settlement – if vacant, you could even ask for permission to show perspective tenants…[Read more]

Hi BeauHere's a spreadsheet that will help you assess the numbers on a potential deal. I'm sure it's not as flash as some of the expensive programs but at least it's free – http://www.passgo.com.au/pass-go-investment-property-analysis-toolCheersJamie

dcwwood wrote:
Ubank is simply a high interest online saver account – yes you pay tax on it but its there as a 'buffer' so if I ever want it I can get it quickly and not take money out of my off set account. For my wealth strategy I like to have on each IP an interest only loan, 100% off set account, LOC, credit card and buffer account – but I…[Read more]

Terryw wrote:
Jamie posted while I was writing but we have said the exact same thing! great minds think alike!

Haha – I like how we both opened with the "I'm not an accountant but……"CheersJamie

Hi GCPI'm not an accountant but I'd assume that you'd be able to start claiming it as an IP as soon as you intend to convert it into an IP – ie. from the day you advertise it for rent. CheersJamie

Hi GCPHave you got a LOC as the only loan for the IP? An IO loan would do the same thing and will be 0.1% cheaper. From a tax perspective, the interest on the IO or LOC loans would both be deductible – they are both securing an investment property.CheersJamie