Nice work Nath – inspirational stuff as always.Love the car photo as well. I had to settle for the 350z instead CheersJamie

colinnewland wrote:
Greysoneline.com.au

Almost – try http://www.graysonline.comCheersJamie

Yep, it's an excellent website. I picked up a few bits for a kitchen we recently renovated. One of the best purchases was a refurbed rangehood that retails for $499 – we were lucky to get it for $99 plus postage.There's also cheap ovens, sinks, mixer taps. The website is actually http://www.graysonline.com (gray with an "A")CheersJamie

colinnewland wrote:
Sit down WITH the seller (not the agent) and find out what their selling motivation is; do they need CASH TODAY?

I can't imagine there would be any real estate agents that would facilitate this. Most open houses are done without the seller present. Unless you knock on their door outside of inspection times (which won't…[Read more]

That's a first for me as well. I'm with Holly – ask for written proof that states that they can actually do that. I would have thought something like that would fall under their admin fee which you would be paying each quarter for your 3 units.CheersJamie

Intrigue wrote:
I always explain to the agent my reasoning for my offer, I even try to present it in a way that helps them to  communicate my position when talking with their seller. Maybe I am telling to much, giving myself away…

I don't think so. I always provide a reason for my offer in the hope that the agent will convey it to the ve…[Read more]

wisepearl wrote:
The banks will have a limit as to how much equity you can withdraw, perhaps up to 80% of the value of the house, or maybe more – depends on many factors.

As a general rule, 90% + LMI is the max.CheersJamie

Another option is to renovate and hold (as opposed to renovate and sell). Here's a case study based on how my wife and I, as well as many of my clients, have used this strategy – http://www.passgo.com.au/blog/25-the-project/67-how-to-use-the-equity-in-your-home-to-purchase-an-investment-propertyCheersJamie

Hi TimI don't think you can focus on averages. As others have alluded to – the good ones can do really well whilst the mediocre ones will struggle. I've seen both sides of the spectrum – and I wouldn't necessarily say it's all hard work and long hours that makes the good agents successful. There are other factors which I think Andrew mentioned…[Read more]

ksherwell wrote:
Listening to my friends, I hear the NZ is deader then dead. It may be a good time to enter, or even wait just a few more months for values to drop and pick up desperate sellers.

Any particular areas Kane?CheersJamie

naughtyj wrote:
Actually, if the property is located in the ACT (Canberra), I believe the stamp duty is deductable in the first year of purchase, so depending on where hsingh10 is purchasing the property, it might be worth talking to his tax person about. 

Correct It's one of the perks of purchasing an investment property in Canberra. We also…[Read more]

Johnny1974 wrote:
Get yourself a depreciation schedule, a good accountant and save the 5k and $98 month.

I spend 10 minutes each month updated an excel spreadsheet on IP related income/expenses – so I agree, $98  sounds a bit rich, particularly if that was for each property I noticed that the original post was from 3 years ago as well.CheersJamie

Terryw wrote:
hmmm, nice first post!

Must admit – was thinking the same thing.Jamie

Look at the factors that may drive the growth in the future. Is their infrastructure spending within the area? Is it a bad area that's steadily improving? Is the population of the area on the incline? Margaret Lomas has a great book called 20 must ask questions. It provides some good tips on pinpointing a particular area for investing…[Read more]

grantos_champos wrote:
http://www.onthehouse.com.au is pretty handy

Yep, this is one of my personal favorites CheersJamie

Terryw wrote:
Hi JasonWhat about my example where the loan is paid down by $100,000. If S then later wants to buy a place to live in then what would happen?eg. 1$100,000 would be availabe for redraw. S takes that money and uses it as deposit for the new house. But since this is personal borrowing the interest on the $100,000 would not be…[Read more]

The franchises are only as good as the people working within that particular branch. That said, I haven't personally used the professionals for any property management – I've only heard/read reports that they're a good option. I wouldn't recommend the PM I'm using in Wagga – for that reason I won't mention them.CheersJamie

Solomon10 wrote:
Hi Jamie M, im not attacking you here, just wondered why your passgo site and facebook site has this property down as Steve and Sarah's story and their reno but on here you say it was done by your self?

Hi SolomonGlad your paying attention Steve and Sarah's story was fictional (loosely based on what my wife and I as well as…[Read more]

Haha, nice one Alistair I hope you don't mind – I've shared it on our Facebook wall.CheersJamie

Mine isn't cheap – but the advice and service is more than worth it.CheersJamie