My accountant advised that an appraisal will suffice.

Cheers

Jamie

It would be worthwhile having it valued or getting a market appraisal from a local real estate agent. This is done for CGT purposes. Basically, when selling the property, you only want to pay CGT for the portion of time it was an IP. By getting a valuation now, you’ll be able to provide evidence to the ATO that the property was worth $x when it…[Read more]

spranga wrote:
Thanks Terry. Where are you based?

In another post he mentioned Osaka, Japan

Hi Mike

No worries at all.

I was in the same predicament not that long ago with an IP in Wagga.

Fingers crossed you find a good tenant – it’s a decent area, so hopefully you’ll have no dramas.

Cheers

Jamie

Hi Jmiller

You want to know that they understand investors and will structure you finances accordingly. As Richard said, with email, fax etc it doesn’t matter where the broker or client are located – you should give Richard a buzz, he’ll sort it out.

Cheers

Jamie

Time to start looking at lenders with more generous servicing calculators – AMP can be quite good in this regard and have a decent basic product to boot.

Cheers

Jamie

It can take a little longer to find tenants in regional areas as compared to larger cities.

I agree with what the guys above have said – suss out similar properties, see how much they’re renting for – chances are, yours may be over priced.

Also, I believe the Wagga rental market spikes towards the start of the new year. It might be an idea to…[Read more]

Hi Jodie

Welcome to the forum.

Couldn’t you tap into the equity in your PPOR again to purchase the 3rd property? Looking at those figures, if your PPOR is worth $360k and you have a loan of $220k then there’s a fair bit of equity there you can access.

Cheers

Jamie

BomberRoui wrote:
Here is the kicker.We have the property with two agents, and the second agent has two people that are also interested. 

Tell the other agent that you’ve received an offer from the other guy that you’re considering accepting. Tell him/her that if their “interested” people are interested in making a serious offer they have the…[Read more]

angelinsydney wrote:
Where I live nearly all agents have employed the strategy of any offers $ considered.

It’s the same in the ACT. A lot of properties go onto the market with a “+” symbol after the price – ie. $375k+

Agree with Angelina, you don’t have to accept any offers. If the first agents strategy doesn’t pan out – try another…[Read more]

ksherwell wrote:
Yes I have done it before, going direct to the bank gives borrowers higher discounts

 It can also lead to poor structure set-up which may cost much more in terms of lost opportunities down the track. We have many clients come to us after having their loan structures stuffed up by a branch staff member when going direct. In term…[Read more]

ksherwell wrote:
Homeside pays trail

He was talking about NAB direct (choice package) – not Homeside.

Cheers

Jamie

god_of_money wrote:
Have done this kind of deal before?The reason it is so low because his accountant rebate 100% trailing commision into the product… making it 6.77%I heard that it may be able to get 6.67% from NAB….thinking about doing the same thing

NAB don’t pay trail commission to brokers – so not sure how that can be built into a…[Read more]

god_of_money wrote:
They offered me 0.9% disc … so 6.9%… not too bad but not the lowestI am thinking about going to Choice package with 6.77% (my friend be able to secure it loan ~ 1 million with  65% LVR)

I take it your loan was greater than $250k though?

Terri Scheer are ok – I don’t think they’ll insure if you self manage though.

I use ING and Real Insurance. Both are competitive and both allow self managing.

Cheers

Jamie

You won’t get 6.9% with ANZ – you’ll get 7.0% on $250k and if you’re in NSW/ACT you’ll have the first annual breakfree package waived ($375) – not sure about other states.

They’re generally a lot quicker to deal with than B’west.

Cheers

Jamie

Matt_Arnold wrote:
Hi NonnieIt is a common practice for tennants with a bad rental history to offer above market rent in order to secure a rental property.Please don't let this fool you…     An extra $20 – $30 per week ($1000 – $1500 per year) is very little compensation for the effort involved when dealing with a tennant who is const…[Read more]

Dafnny wrote:
Hello Angle,In Sydney there are many areas that have a  high Asian population and also a good investment, Eastwood, Marsfield, Carlingford, Ashfield, Ryde and I am sure there are many other areas that may be great for investment.   You will need to research this more before investing. I hope this is helpfulwarm regardsDafnny

I…[Read more]

Cattaby wrote:
It seems to me that a lot of the advice people ask for in this forum is 'how much will X' cost (me included!), with the answer being 'talk to a tradie'.So… does anyone have any tradies, inspectors, agents, etc that they'd like to recommend based on personal service? Or any that should be warned against? It would be ace to…[Read more]

Hi Angel

I haven’t had any experience in purchasing property in Germany.

My understanding is that the majority rent, whist a few own. It could be contributed to high prices coupled with a “different” attitude towards property ownership compared to that of most Australians.

I’d be interested to know about growth figures, etc. Let us know how you…[Read more]