jacqui_03 wrote:
Hi Jamie,What is the companies name? I can look into it.If you can email the disc voucher that would be great. Appreciate you offering.Jacqui

The company is Corpred – I've found them to be very good and affordable. Email sent.Cheers,Jamie

No worries at all – I just responded to a few so I'm assuming you're one of them. Any questions just let me know.Cheers,Jamie

Hi Jacqui,If you need something quickly, I use a company where you fill out their online form and attach photos – from that info, they email you the depreciation schedule. Some argue that with this method certain depreciable items may go undetected (because a QS doesn't physically inspect the property). I can email you a discount voucher if it…[Read more]

I've got a good IP analysis spreadsheet that I use for working out yield, holding costs, forecasted growth, estimated tax return, etc. Just email me if you'd like a copy.Cheers,Jamie

Get a building and pest inspection. Approach a company directly, don't ask the Real Estate Agent for a referal.Cheers,Jamie

Can't you treat it as a private arrangment whereby the students are paying you board to contribute towards living expenses such as bills, food, ect? That way it's unlikely to be treated as income. I'm not an accountant but I'd assume that this kind of arrangement is not uncommon.

Lake Albert is a nice suburb. The lake itself isn't spectacular but the suburb has a nice family feel about it. I was there in Jan 2010 and don't recall seeing any construction at the shops – maybe it started after I was there.It is a little further out, but nothing seems too far away in Wagga (I think the drive to the CBD was about 10 mins).What…[Read more]

I'm yet to see a depreciation schedule that hasn't paid for itself in the first year.The oldest IP I own is in Wagga – it was built in the 1960s.I was able to depreciate $2,100 this financial year. The report only cost me $220 (my clients and I get a discount with a national company).This $220 outlay has more than paid for itself.Jamie

There's better deals out there. As Banker said, if you go to $250k you'll be elligible for discounted rates with some lenders.Homeside will be cheaper than those mentioned – 6.57%, $763 establishment fees, $10 p.m ongoing. It's about $20 cheaper per month than the Bwest Premium.Jamie

LH wrote:
perhaps you need a new broker!

Agreed. It's advice like this that can send people down the wrong path. Time to get a knowledgable IP savvy broker.Jamie

You don't have to  come from a wealthy background to do well. Read, read, read is my advice. Knowledge is key – so is a positive attitude.I'd also get into the habit of saving each pay. In a years time, you can use your knowledge, savings and the new $40k salary to buy your first property.Cheers,Jamie

Are you buying a house to occupy or is it an investment property? Jamie

Yep, Pete Tersteeg from Sage Lending – http://www.sagelending.com.auHe helped me build my portfolio before I became a broker my self. Extremely knowledgable broker and based in Melbourne.

brale wrote:
Thanks Folks, I'll be sure to add API July to my list of reading materials. -Brad.

Check out next months issue of Your Investment Property (YIP) as well

Are they telling you top-up the LOC routinely (eg. once a year) and use it to make the repayments? If so, it's a dangerous strategy that's based on the property appreciating by a certain amount each year. What happens when that property has a year of negative growth?

Hi Brad,Welcome to the forum and the world of property investing I'd utilise the FHOG and purchase your first home. I love to add value to places – gives me equity without having to wait for the growth.So I'd be inclined to purchase something that could do with a little work, you could carry out some renos (or outsource the work) during the 6…[Read more]

I haven't heard about them but the words "Gold Coast" "financial plan" "new investment property" and "revolving line of credit" rings alarms.How do they make their money? Are they charging you a consultancy fee? Are they lending you the money to finance the property? Are they selling the property? Work out what their motivation…[Read more]

I don't see any problem with being geared at 85% LVR – differen't strokes for differen't folks. My portfolio is highly geared at present – as long as I can sleep at night I don't see a problem with it. Gcamilleri, it sounds like the bank is trying to cross-collaterise your properties. From an investing perspective, there's a much better way to…[Read more]

Oops, probably should have elaborated a little further.The IO loan with the offset can work in the same way as a P&I loan. The difference is that the loan amount is paid down as you place money in your offset account. However, these funds are easy to take back out in the future (which will cause your loan amount to go back up). Their great for…[Read more]

Congrats on deciding to delve into property investing – and an even bigger congrats for managing to save $50k, well done!Personally, I'd opt for the second option – IO with offset account. It will give you more flexibility in the event that your investing strategy changes and you decide you want to access the additional repayments will little hassle.