Hi Jimmy

What sort of independent financial advice are we talking about?

Cheers

Jamie

PLC wrote:

Living 2kms from the racetrack you can't escape the hype and atmosphere.

Just avoid wandering into the mounting yard – they throw hay makers in there. I couldn't believe that footage – disgusting stuff.

Cheers

Jamie

The Dark Knight wrote:
 Having said that I haven't had a holiday in 3 years so maybe that's my biggest problem lol

Now that's a decision I never hesitate to make! I like to have at least two o/s trips planned each year. No point in working hard if you can't enjoy holidays

Cheers

Jamie

Hi Neil

As has been mentioned above – you could put your own name on the application but you'll have to declare that your married with two dependents and that your wife is reliant on your income.  Therefore, having just you on the application won't make a different to servicing.

Cheers

Jamie

Live frugally, rent out some rooms and smash the mortgage (or offset account depending on your situation). That will all help – but there's lifestyle trade offs.

Cheers

Jamie

Hi Simon

Welcome aboard

1. It's incorrect. Purchasing a different entity isn't going to improve your borrowing capacity.

2. As above – it doesn't work like that. However, purchasing in your own names doesn't mean you've shot yourself in the foot at all – it's how the vast majority of investors purchase their…[Read more]

Catalyst wrote:

BIG difference between an offset and a redraw.

Take note of this comment. It's very important.

For what it's worth – there's lower rate products on the market with an offset in comparison to what you have.

Cheers

Jamie

Melissa97 wrote:
Hey all,
I have owned mine for 7 years and it has not appreciated very much.

Hi Melissa

This reason would be enough for me to give it a miss – unless you're getting a significant discount.

It might pay for itself – but if it's not going up in value then you've got to question whether it's a good investment and could the…[Read more]

danchoi180 wrote:
Throughout the 3 years though, my background is quite analytical and as a result I always find myself in 'analysis paralysis' rather than taking action on opportunities. Surprisingly, my biggest problem has been more mental (making up excuses) than knowledge or skills. 

It's pretty common. Having analytical skills is great -…[Read more]

I don't have any issues with ANZ. Apart from having a poor servicing calculator and not being overly competitive at present – they're product offering isn't too bad and their cashout policy is quite good (and transparent) which is important for investors.

Cheers

Jamie

Hi Miranda

No worries – I thought you meant expert

If you're comfortable with dealing via phone/email then you can choose your broker/accountant from anywhere in the country.

Cheers

Jamie

Jade12 wrote:
Hi Jamie, 

Thanks for your help. Looking to fund the property with savings. No equity from other property, first buy. 
I've read about deposit bond in other forum. How does it work? Would I use a deposit bond for my 10% deposit during contract exchange? 
Will I save significant tax from using the bond?

In this instance a…[Read more]

Hi Daniel

This approach is fine when all is going well – but the minute something goes pear shaped you'll see that $60 per month was worth it.

Just bring yourself up to speed with tenancy laws in your state and document everything. If rent is ever a couple of days late – get on top of it quickly.

Cheers

Jamie

Hi Peo

I'm not an accountant so seek expert advice. My thoughts are that CGT would apply for the duration it was an IP – if it didn't increase in value, then there's no gains – so I'd assume no tax should be applicable. However –  best to seek expert advice.

cheers

Jamie

It's a borrowing expense – deductible over 5 years or the term of the loan, whichever is shorter.

Cheers

Jamie

Hi Alexia

It's not a stupid question at all. Usually it can be included on top of the loan – it depends on the lenders policy, the amount you need to borrow, the type of property and whether it's owner occupied or an investment.

Cheers

Jamie

Hi Miranda

Welcome aboard.

Your question is too broad – there's thousands of markets within Australia.

As for an accountant – where are you located? And for a mortgage export – do you mean mortgage expert?

Cheers

Jamie

Hi Jade

Welcome aboard

1. How are you looking to fund the deposit/costs? With equity in another property or with savings? If the latter – do you have equity in another property that you could access?

2. Some agents will request a small holding deposit before contracts are exchanged – it's usually just a good will gesture. When exchanging…[Read more]

I agree with Wilko – the grant probably didn't make up for the inflated demand which probably drove prices up by more than the $7k or so grant that was on offer.

Cheers

Jamie

Hiya

It just means that you can still access equity with a fixed loan but it just needs to be set up as a separate loan rather than an increase to the existing.

Jamie