Hi Benji Beane

Thanks for sharing.

Is this company that you mention calling themselves a “brokers agent” by any chance? I’m just curious because there’s another interesting thread on the topic at present – it also involved an agent charging a $4k upfront fee for sourcing a loan.

Cheers

Jamie

Thanks for the heads up Duckster! We’re kicking off our renovations in a couple of months.

Cheers

Jamie

JNM wrote:
Also to note that brokers not only get a trail commission for the life of the loan but they also get an upfront commission. Someone has calculated that on a $350,000 loan over 30 years, the broker gets over $13,000 in commission.

Extremely unlikely. Most loans are refinanced/paid out within a much shorter space of time. Also, in…[Read more]

4jojo wrote:
No, I do not get paid to do my job?

How do you expect to take out a loan?

Cheers

Jamie

Hi Vanessa

No worries at all.

Good work with the research, you’ve clearly carried out some due diligence on the area.

Perhaps start a new thread on Campbeltown – you’ll likely get some opinions from those who have invested in the area.

Stick around and keep asking questions – there are a lot of helpful/knowledgeable folk on here that are happy…[Read more]

More importantly, where are you looking to buy?

Cheers

Jamie

Marie123 wrote:
I have had one real estate agent out to the property so far, she is well known in the area and has advised we go ahead with the floorboads but also said that it will sell as is. The lino is 10 years old and looks like wood floor boards, it looks like new, apart from one small patch near a door that is wearing.

Will the new fl…[Read more]

Catalyst wrote:
Read this thread. There are others on Somersoft also.http://www.somersoft.com/forums/showthread.php?t=60889 

Good old somersoft – how was Rob’s quote “The right mentor is like Chuck Norris. You don’t find them. They find you.”

irina87 wrote:
You can become rich even earlier. The only thing you need is brains.

So that’s the secret…..

Hi Vanessa

Welcome to the forum.

There are no real right or wrong answers – just different strokes for different folks.

What are comparable 4 bedroom houses selling for in the area? How much would it cost to by an established 4 bedroom property in the area? What’s the rental demand like?

It will be negatively geared – however, you’ll be able…[Read more]

Scott No Mates wrote:
yes – get a walk-in robe just for added discretion.

Response of the week Gave me a chuckle.

Cheers

Jamie

Hi 4jojo

Welcome to the forum.

From my perspective, I spend the majority of my time with clients discussing loan structures. Working out the most cost effective and efficient way of setting up their finances in order for them to continue building their portfolios.

While interest rate is important, if you’re investing in property (and looking to…[Read more]

Hi Stoj

Welcome to the forum.

Firstly, the primary aim of the game shouldn’t be to offset tax. The tax benefits associated with owning an investment property are nice – but should not be the main reason for investing.

In order to fund your purchase, you could do what Luke has mentioned. Top-up your loan with CBA – this will provide the 20%…[Read more]

Hi WinnyY

Welcome to the forum.

Are you looking to purchase an IP in the area that you live? If your brother finds something worth pursuing – he should simply ask the agent if it would be ok to quickly take you through it after work hours (there shouldn’t be a problem with this approach).

Your father doesn’t need to sign anything.

Cheers

Jamie

House Call wrote:

onthemoney wrote:
During the last 3 years there has been a 26% growth in house prices with an average annual over the last 10 years of 12.8%.

Wouldn't this therefore make it a good area to invest in as the numbers stack up very well?   great capital growth, good rental yield.Remembering of course that you are not going to b…[Read more]

I think property can make you rich in a short space of time. It does require some creativity thinking, energy and a higher degree of risk. However, in my opinion, property should be looked at as a long term investment and I agree with fWord’s comments above – starting young and letting time work it’s magic should result in a comfortable financial…[Read more]

pks wrote:
Hi guysThanks for getting back tome. I have the house in Reservoir and there are lots of blocks with single storied. Checked with the council and they dont have any objection. I was under the impresstion that any house which is single storied gets some value added up. This house is on the block of its own which is about 290 sq size…[Read more]

BC Melbourne wrote:
Why on earth would you buy an investment property on the corner of two main streets opposite a KFC and next door to Burger King?

I was just driving past a Macca’s and KFC and noticed a large unit complex right next to them…..got me thinking, maybe the owners of those units followed the 78 steps…..

Intrigue wrote:
Thanks very much Tracy B, quick question if I were to nominate my financial institution eg NAB but during the time frame I get a broker to do a check to see if I can get a better deal.. would it be a problem if I chose a financier other than the one I nominated in the contract..?Is it better to just say finance satisfactory to…[Read more]

Hi level3

Congratulations on the second baby

It sounds like you need to speak with a broker regarding your borrowing capacity and the options available to you rather than a property advisor.

Cheers

Jamie