Yep, thanks Ten_Burner. I’ve been looking for that site for ages – I stumbled across it a few months back but couldn’t remember the sites name.

Cheers

Jamie

Hi Zgnilek

If you do a search on trusts you’ll find a whole heap of information.

I’d also seek expert advice on the matter from an IP savy accountant.

For what it’s worth, a low yielding IP purchased on a 90% lend is going to be negatively geared by quite a bit. Probably not the ideal property to be placing in a trust….but that’s just my…[Read more]

Even on $500k + it’s still a pretty good deal (from an interest rate perspective anyway).

Cheers

Jamie

An interest only loan isn’t classed as a business loan. Nor is an interest only loan which is securing an investment property.

In any case, you could be getting a lot worse than 6.92% – that’s a pretty good deal.

Cheers

Jamie

I would have thought that vacant possession would be better than occupied.

My assumption would be that a tenanted property would be a bigger deterrent to an owner occupier than a non-tenanted property would be to an investor (if that makes sense!)

Cheers

Jamie

Hi Matt

If your circumstances haven’t changed since your last loan (in which your parents went guarantor) then what’s going to be different when applying for IP2?

For that reason, I can’t see how you could break away from your current loan to one that doesn’t involve your parents as guarantor.

Cheers

Jamie

We have a few listed here – http://www.passgo.com.au/property-data-websites

It will be updated with more shortly.

Cheers

Jamie

1. Yep, pretty much.

2. No, you’d have to live in it for at least 6 months within the first year.

3. I’d just use the book as a guide. Embrace the parts that you feel are useful.

Cheers

Jamie

Hi David

Welcome to the forum.

Yep, I’ve used these type of schedules for older IPs. More specifically, I used the corpred silver package. I have no complaints.

Cheers

Jamie

Yep, that’s quite a hike from Adelaide.

Check out this recent thread – North Adelaide was mentioned by Anthony (SA is his stomping ground) – https://www.propertyinvesting.com/forums/property-investing/creative-investing/4336394?highlight=playford#comment-235466

Cheers

Jamie

anhie wrote:
hii am so thankful i stumble on this forum, as a potential property owner i learnt alot of  what to do and don't do.any advice would be greatly appreciated.i'm looking to buy my first property. i have about 70-75k saved up.i like to know whats my best course of action. To either buy as ppor to ip or ip.i won't be living there only…[Read more]

Hi Joanna

Welcome to the forum.

You’ll probably find that investors who purchased within the area 5 to 10 years ago have experienced decent capital growth during this time (and Elizabeth, etc would have been deemed undesirable back then as well).

There are ways to mitigate risks in these areas. A good property manager and landlord insurance…[Read more]

You wouldn’t have to pay interest on the $50k if it were in the form of a Line of Credit or if it was an interest only loan transferred to an offset account.

That said – I agree that a $50k buffer does sound like a rather large contingency.

Best way to ensure independence (and peace of mind) is to source your own broker.

Cheers

Jamie

Building rapport with local agents works.

When they know that you’re the real deal, chances are you’ll get the odd call from them with deals that haven’t hit the market.

How’s that 370z treating you Nathan?

Cheers

Jamie

Hi Billy Bob

Welcome to the forum and congrats on saving such a large deposit.

You’ve certainly done a good job timing your entry into the property market. I’m not sure how things are looking in Melbourne but my general observation is that most major markets have cooled which presents great opportunities for buyers.

What have “experts” been…[Read more]

Hi Danviv

I hate to say it but you really should have waited for strata approval. As much of a pain in the a** it can be – you have to play by their rules.

Cheers

Jamie

tballard wrote:
So I have two questions. At the moment, I’m a phd student so I don’t quite have the money in the bank or the cashflow to put down for a house (though I’m on my way to being there soon I think). But I’m still hoping to find a way to get more involved. I’m getting a bit tired of reading books and want to move on to the next…[Read more]

I didn’t realise Alistair was based in Melbourne – yep, I agree with the others.

Cheers

Jamie

Hi again dragaonflyz

I don’t see a problem with 95% lends. Some people aren’t comfortable with them but they don’t personally bother me – I like to use as much of the banks money rather than my own. However, as mentioned above – they are scrutinized a lot more heavier.

From your first couple of posts I read that you only had limited savings…[Read more]

Hi again

There’s nothing wrong with getting a pre-approval and I generally endorse the idea.

However, in your situation, with a 95% loan currently being assessed, I wouldn’t rush out right now to grab a pre-approval.

In general, a pre approval tell us that a) your credit history is ok and b) you can service the debt. However, the big thing that…[Read more]