Hi SashCBA won't do a 95% lend on an IP.Cheers Jamie

jacqui_03 wrote:
Yeah Tarakan Ave has alot better street appeal than Buna. There are more owner occupiers in Tarakan where Buna has mainly tenants or housing commission so looks pretty let go.

Yep, that was my impression as well. Do you live in Wagga Jacqui?

From memory, Buna Street seemed to have more of the fibro housing commission homes. Check out google maps and go for a stroll around Ashmont I know there's often some cheapies on that street – still probably rent for around the $220 – $240 p.w mark.

Hi StevoWelcome to the forum. I'd just set-up an interest only loan with an offset attached. Place any spare cash you have in it, and you won't need to worry about issues with the taxman when it comes to redrawing later on.

Hi LuluI recently read Margaret Lomas's book "20 must ask questions" – she has developed some great criteria for identifiying potential growth areas. I think it was only $20 from Big W – a bit cheaper than $2k!CheersJamie

ajayayyar wrote:
Hi Jamie,Could I ask which street in Ashmont your is in? And woulld you say its in a roughish area?Cheers,Ajay

Hi AjaySure. It's Tarakan Ave. I didn't find it rough. I was actually suprised at how "decent" Ashmont actually appeared.The property I bought was from an elderly lady who took great care of it. The neighbours also…[Read more]

No worries at all. Always happy to help. Just replied to your email!CheersJamie

Hi againNo worries.One thing to remember though – it's not just property management fees. There's rates, insurance, body corp (if applicable), etc. However, you'll also be able to claim depreciation on the property when it becomes an IP (don't forget to grab a depreciation schedule).You should be able to get by with just a real estate agent…[Read more]

Hi ElleWelcome to the forum.I haven't been watching QLD for a while but there seems to be quite a few posts on the forum about Gladstone recently. If you do a search there should be a fair bit of info.CheersJamie

jcar11457 wrote:
so I could move in? cheers

Hi JcarWhat exactly did the person say? The one that said you couldn't move into the new place?Seems strange.

No worries Leo.I've used that particular company for 4 schedules and I've been really happy with them so far. CheersJamie

Hi WicklFirstly, best of luck with reaching your goal. The first one is always the hardest but with some vision, knowledge and a bit of creativity I'm sure you'll own multiple properties in no time.There's absolutely nothing wrong with renting in the area you'd like to live and investing elsewhere. A mortgage on a $700k PPOR can effect your…[Read more]

Hi AjaySorry to hear the offer wasn't accepted – best of luck next time.I've got an IP in Ashmont – so far, so good. I haven't had any major dramas with it. New tenants just moved in and the rent just went up $20 per week.I'm hoping that once the housing comission stock dries up, prices will pick up.

hs wrote:
Also a millionaire is not much these days when the average home in Sydney nearly costs this much.

True – but still a goal to be proud of.

hmcleay wrote:
  But can I also claim for lesser things like investment magazines and copies of Steve McKnight's book (I bought two!)?And this leads me to ask; can I also claim for things like investment seminars etc? 

Sure can. Well I know I have been Make sure you grab an invoice/receipt from the seminars.

Hi surveysaysCool name. Welcome to the forum.If you're going to pay down debt it's preferable to pay down non-deductible debt (ie. your PPOR). For that reason, I'd convert IP 1 to IO straight away. When living in IP 2, place any surplus cash in that offset account.CheersJamie

Hi LeoHere's a sample report from corpred – http://www.corpred.com.au/files/corpred-sample-report.pdf

Do you mind if I ask how much they charged and how much the property is insured for? I have a couple up for renewal next month so it might be time to shop around.

mojorising wrote:
Does your property manager charge GST on top of the management fee?

Yep. And a few dollars for petties, postage and other little nasties that spring up from time to time.

bamjitsu wrote:
My partner and I have worked out that for us to buy a house in Melbourne, its going to take us at least 3 years to save enough for a deposit, and with the price of houses at the moment, we are going to be living on the very outskirts on Melbourne, which is continuing to grow further out! We are currently renting a house from my…[Read more]