Hi Sha

Welcome aboard.

The guys above are right.

However, if you don’t claim this time you can still claim it later on down the track when you purchase your first PPOR.

Cheers

Jamie

Haha – yep, the place has it all. I can go 12 months without stepping foot into one but as soon as we start renovating a property – my life becomes loan writing and trips to bunnings.

Cheers

Jamie

Is there a bunnings nearby? If so, that will solve all of your problems.

Cheers

Jamie

Catalyst wrote:
What sort of renos are you talking about? $50K is one hell of a reno if there are no structural changes.We typically spend $12-15K on a full reno. New kitchen, bathroom, paint, carpet, polish floors. But we do a lot of the work ourselves.Is it near where you live? You could project manage and hire tradies. I can't see that paying…[Read more]

As JacM mentioned above – your local council should be your first point of contact if the primary reason for purchasing this property is for future development potential.

Cheers

Jamie

engelo10 wrote:
I would like other peoples opinion as to what they think about having a portfolio of 10or more properties that are pretty much neutrally geared? I have 2 other properties on the cards and am planning to continue investing with this strategy in place. Thanks for your time.

Regards,
Engelo

Providing the properties are also…[Read more]

Qlds007 wrote:
Of course providing a rental assessment on the property in order to boost your serviceabiliity when you intend to occupy the property for your own occupation(even for the first 6 months)  is actually mortgage fraud so not recommended. CBA are certainly not on the top of the serviceability list so a second opinion would be the w…[Read more]

Tommy1 wrote:
Hi all, been away for a while doing other things, time to get back on track. Situation is basically the same as my previous post. Is there a spreedsheet or something that I could throw some numbers at to see if I can afford another property. Something that I could populate with numbers and look at "what if" situations with imputs…[Read more]

I'm surprised to see that they're reporting on Canberra growing at that rate. From where I stand, the market seems a bit flat – but I wouldn't be surprised if things pick up within the next few months.CheersJamie

Ildiko wrote:
Hi,  i would like to buy an investment property but i really would like to know people doing to buy 1 after each other.pls give me some advices??thanks

The ability to purchase and hold multiple properties comes down to your ability to service the debt – which is a combination of your income plus the income generated by your IPs.CheersJamie

Hi LyonNo such thing as a silly question You can sell the house – the proceeds will pay off the debt. Anything left over after expenses will be yours.You will need to contact the lender to find out the fees associated with closing down the loan.CheersJamie

j260899j wrote:
hionce i have reached my borrowing limit am i able to approach another lender and borrow more under a different trust. can someone please confirm that.

No. You still need to demonstrate serviceability.CheersJamie

cathnniv wrote:
how difficult is it to do everything needed with a broker out of town? No good brokers in my town and i prefer to use a broker.

It's not difficult – the majority of my clients are interstate.As Mick said – phone and email is all you need.CheersJamie

Terryw wrote:
I think there must be 2 threads on this exact same topic – or deja vu??

That's what 11,000 posts will do to you….you've probably answered the same question 68 times over the last 10 years CheersJamie

ryan mclean wrote:
1. Find lenders who take into account 80% of the full market rate for the rent. Not 80% of 4% rental yield. What if your rental yield is 10%?

You can find lenders who will take into account 100% of rental income – providing the application meets certain criteria.This is particularly good for investors who are approaching the…[Read more]

Ask Terry W – he'll be around shortly to answer your question.CheersJamie

nguli wrote:

Ash88 wrote:
But what I want to do is buy a small unit a 2bdr around 250k, with 100k deposit and take 30 year loan , and leave the remaining in a offset account and use it later as I want to buy land in the new estate that will be released in 2014 in Maribyrnong and build my PPOR there and put the first property on rent .

Hi…[Read more]

Agree with the above – if STG don't want to do it, there are plenty of other lenders who are hungry for business at present – some of which are offering cash rebates to offset the costs of refinancing to them.CheersJamie

ryan mclean wrote:
I would only consider option 2 if you are in an extremely high tax bracket and you wanted to offset your tax using the depreciation of the property. I don't know if that specific area is high capital growth though…

I think option 1 will be negatively geared more than option 2. With option 1, the depreciation will be less…[Read more]

Terryw wrote:
I have found that some people just use you for the expertise and then disappear at the last min and possibly go to one of these brokers to get some of the comm back. So to prevent this I think you have to charge a small brokerage amount, maybe $500, to help prevent this. But if you do this then maybe you woudn't get as many…[Read more]