Hi CharlesAbsolutely agree. I don't advocate any particular strategy for propert investing. Nothing wrong with investing for growth – nothing wrong with investing for cashflow. I think the most important thing is to actually "do" something. Yarndey's books are also a good read.CheersJamie

Robert11 wrote:
thanks heaps guys the 2 investment loans are with rams and the other is with nmmc. i thought this was the case i will change mortgage brokers straight away i will talk to sage lending is it best to talk to a broker or a financial planner and does anybody else have any suggestions for who i should contact Robert

To sort this out,…[Read more]

JacM wrote:
You can buy a property without doing a course and without paying a buyers agent  

Agree with Jac on this one.I would spend those three weeks off reading, learning and eventually searching. In the mean time, continue to save towards your deposit. By the time you're all clued up….you'll also be cashed up and ready to purchase.If…[Read more]

I mentioned him in another post recently – Pete Tersteeg from Sage Lending. He's in Nunawading (if that's how it's spelt). Give him a buzz – I'm sure he'll be able to help you out.

Dan42 wrote:
I'd suggest that it isn't the tax that is causing the most concern, but the large mortgage. If it is proving too expensive to hold two properties, I'd try to sell the investment property. This will provide the most relief to your cashflow situation.

Agreed. If the property was negatively geared right now you'd be in even more…[Read more]

Hi BenYep, stick with interest only with an offset attached. It provides you with more flexibility and control. The reason being that you can access the cash in your offset account whenever you like. On the flip side, if you were paying down the principle on a principle & interest loan and wanted to access some of the equity down the track, it's…[Read more]

Hi RobertSounds like a bit of a shambles – obviously not helped by your mortgage brokers advice.You need to get a good broker on your side, one that understands how to structure your finances correcly. I'm not spruiking myself but it's clear that you need to get rid of the one you currently use. Pete Tersteeg from Sage Lending has his office in SE…[Read more]

HiWelcome to the forum.What's your goal? What are you trying to achieve from investing in property?If your aim is to create wealth over time by buying and holding properties, then the time to buy is now (time in the market becomes more important than timing the market).If you're looking to buy and sell – Melbourne might not be the ideal place at…[Read more]

Hi PollynzWelcome to the forum.I don't quite understand the question but from a starting out point of view – most first time investors access equity in their home to use as a deposit towards an investment property. If you think you might have some equity in your current home you could speak with your lender/broker about refinancing.CheersJamie

Hi smartcubeWelcome to the forum.I'll play devils advocate – you shouldn't invest in property if your main objective is to save on tax.CheersJamie

Hi StuartYou're on the right track – as mentioned above, a good broker will be able to structure it correctly for you.CheersJamie

Hi StuartDepending on your current lender, you might be able to refinance your current home loan up to 90% of its value. This will give you about $50k which you can use as a deposit (and purchasing costs – stamp duty, ect) for your $300k PPOR.CheersJamie

Just ask the photographer – they might be happy to oblige. They might also ask for a small fortune

I like Wagga for IPs. Has shown consistant growth (not ground breaking – but not too bad) and the high yields in the "dodgy" areas mean it's not too difficult finding CF positive/neutral deals (if this is what you're after).LJ Hooker are constantly selling off ex Dept. of Housing stock. They used to go for under $100k – might be tough to find…[Read more]

To avoid using your own cash, have you considered accessing some of the equity in your current PPOR to fund the purchase? LH touched on it above.If you're thinking about building a portfolio, it helps to have some cashflow – $40k placed in an offset account is a good start.CheersJamie

Sure can – all the info you need should be on the Deposit Power website. Last time I checked you could get an online quote as well.CheersJamie

Personally I think Beenleigh (and the rest of Logan) will do pretty well over the coming years. Prices have seemed to stagnate over the last 12 months and it hasn't experienced the same massive growth increases down south in Syd, Melb and Canberra. Maybe it's only a matter of time before it takes off again. If it was me –  I'd keep it.Jamie

Hi Intrigue,Just sent you a private message.Cheers,Jamie

Check out ebay. There's a few companies selling laminate flooring – very competitive prices. You can order a sample for a few dollars. Cheers,Jamie

Which broker you should go with? How about the one that:-will structure the deal correctly -know's which deal is best for your circumstances-is up to speed with current lending criteria, products and policies-answers your questions-if you're an investor – preferably one with investing experience-understands your long term plans and helps you build…[Read more]