Hi EvernatIt's a bit cheeky on CBA's part to encourage you to stay with them – but it happens.You can have multiple properties with CBA that aren't crossed. If you take out a LOC against property 1 and use it as a deposit towards property 2 – the securities should remain uncrossed. If you do remain with CBA for both loans, check your loan offer…[Read more]

nzuvo09 wrote:
Thanks Jamie for your valuable response.

No worries, you're welcome.

nzuvo09 wrote:
Just wondering though whether we should leave the current loan type when refinancing to IO, and is there any implications with the refinancing, break fees, etc, and also any tax issues?

At this stage, probably not. You're LVR at present is above…[Read more]

nzuvo09 wrote:
At this stage we thinking of refinancing our loan to IO and opening an 100% offset account ($10/mth acc. keeping fee)

Yep, do that.

nzuvo09 wrote:
We also note that our current loan package allows IO for max of 5yrs, not sure if this is an issue.

Not really, just change it back to IO when the 5 years is up. [/quote]

Wattoette wrote:
Correct me if I am wrong but I have heard you can rent your PPOR as a property investor and the rent can be a tax deduction !! Can this please be confirmed.

Hi Wattoette, weclome to the forum. The answer to your question is no – it's not possible.

Wattoette wrote:
I have also heard a lot of investors rent their PPOR as it is c…[Read more]

Hi BaybeeLenders cannot discriminate based on age. Can your parents service the loan at present?

dtrump wrote:
I found this website to be useful http://www.onthehouse.com.au/ – once signed up you can do a property sales report and it will tell you the price the property has sold for in the past. Very similar to what you get from RPData IMO except its free.

Yep, it's quite handy. However, from memory, I think you only get 3 free reports f…[Read more]

Hi thereWelcome to the forum.Maybe she's simply renting (as opposed to owning) the home she lives in? I have a few investor clients that do this – they rent where they want to live while owning multiple investment properties in other areas.

baybee wrote:
 However, they were told that because of their age (>60) – the only loan that can be given is a bridging loan.

Hi BaybeeFirstly, welcome to the forum Secondly, who told your parents that?CheersJamie

Have you asked the electricty company what your options are? To be honest, it doesn't sound promising – it sounds like you'll have to foot the bill and do ask your mate to kindly pay you back.

ajayayyar wrote:
hi Jamie – who are 'the professionals' – are they an acual REA?

Yep – you should be able to find their details by googling. I'd call up a few REA's – ask them if they manage properties within the same area, suss out what kind of rents their getting and what their vacancy rates are like.

I thought this one was pretty cool – IP calculator Might be a bit more technical than you had in mind though.

I wouldn't recommend Ray White. I've heard the professionals are good (but haven't used them personally).

Speak with real estate agents and property managers in the area. If you live within the area you're looking to invest, you should visit plenty of open houses/auctions – get a feel for how the market is performing at present.

It's definately a must. If your self managing just make sure you take out a policy that allows for it – Real Insurance and ING allow me to self manage and are both competively priced.

Hi NurseYour ANZ banker should be able to help you out with these.

JacM wrote:
You can totally get a 4br house for that price.  It is simply that the land value is lower.  To build a brand new 4br house costs under $200k last time I looked…

I think he was talking about the $380 p.w rent.

Oh, and Happy New Year!

nurse1 wrote:
Question Can we convert our PPOR loan to an IP loan?

Hi again Nurse1Easy peasy. No need for a new application. You will be able to claim the interest repayments from the day it converts into an IP.If it's currently a principle and interest loan, I'd recommend converting it to interest only. This is generally a simple loan v…[Read more]

Hi AjayCongratulations on the purchase. Where abouts in Wagga did you end up purchasing?Are you self managing or will you appoint a property manager? If it's in one of the less desirable areas of Wagga then a GOOD property manager should be high on your list of priorities. You want to have decent tenants occupying your IP – this is where a good PM…[Read more]

Catalyst wrote:

goldies wrote:
Bought in Hebersham, 4 bedroom house, single lock up garage and seperate carport also. 580sqm block. Bought it for $235k, spent $6k on a cosmetic upgrade… rents out for $380 a week, got a tenant in day after settlement….

$380 a week is top dollar. How did you manage that?

Wow, $380 p.w is quite impressive.…[Read more]