cubster_2 wrote:
Good morning all,

Is it possible to purchase off the plans with say a 10% deposit, let the property value increase over 12 months during construction and then sell the contract to someone else for a higher value?

Speak to a good solicitor about the legalities and the costs involved. Personally – I think it's a very risky…[Read more]

Just got a $1500 cashback for a couple of Westpac customers Both were purchases – but applies to refinances as well.

Cheers

Jamie

Hi there

Welcome aboard.

This website is pretty handy http://www.refindhouseprices.com/

Shows how long properties have been on the market and how much they've been discounted by since they were listed.

Cheers

Jamie

Mgs4 wrote:
Do a lot of investors look for mortgage brokers that are also sophisticated property investors? I find a lot of mortgage brokers, particularly new entrants to the industry, wouldn't meet this criteria.

Yeah they do. It helps to work with a broker who's an investor themselves. It's a question that new clients ask me quite a…[Read more]

I think it’s too hard to effectively plan 5 years in advance. Lots of things can happen during that time – including those mentioned by catalyst above.

Personally I wouldn’t fix for longer than 3 years.

Cheers

Jamie

Yeah I can't see why you couldn't since the intended end use is an IP.

Cheers

Jamie

Scott No Mates wrote:

Henry Adams wrote:
Hi All,

Does anyone here know or have the list of Property Spruikers in Australia or Sydney in general ?

Cheers,

H

Basically anyone who invites you to a free seminar on PI, +ve CF, buying property in super etc and then having a list of properties to choose from or roping you in to buying some…[Read more]

No probs – it's called iLend. It's handy for multiple property/complex deals. Maybe hit them up for a free trial.

Cheers

Jamie

Hi Henry

Just do a search on any particular companies that you're concerned about – chances are they've been asked about on the forum before.

Cheers

Jamie

Usually you do. Which state are we talking about?

Cheers

Jamie

Hi Kirb

The prob you face is that you're restricting yourself to the one lender so you're at the mercy of their policies. Speak to a good finance person about your options and you might get a different result.

Cheers

Jamie

Terryw wrote:

darkness72 wrote:
Thanks for the advice,

Goes to show – speaking to the ATO over the ph – they're not always right, would want it in writing

Good news – The bank has come through with a deposit loan – so no mixing – woohoo

ATO phone people are rarely correct!

It's scary isn't it.

You wait up to an hour on hold to be given…[Read more]

Catalyst wrote:
Hi, depends on the size really. Supply only from $1000- $3000 (one was huge).  I get the cupboards assembled. I hate assembling things. They will install for a good price.

Arghhh – this just reminds me of how expensive Canberra is. I'm getting a new kitchen put in my PPOR at the moment – and I need to add another "0" to what…[Read more]

You're using cash for the deposit so won't be deductible.

Try using a deposit bond for the deposit.

p.s – sounds like these loans could be crossed.

Cheers

Jamie

The last client I had who self conveyanced regretted it a lot!

Cheers

Jamie

Talk to Sam at Qura http://www.qura.com.au

Cheers

Jamie

dragun wrote:
I've read a number of books and articles that say you should always at least ask the question to a prospective broker whether they are willing to refund a part of their commission.  

Without sounding rude – I'd politely decline the business. 

Cheers

Jamie

Mgs4 wrote:
Does anyone have some recommendations on research and questions you should do to see if you have a good mortgage broker. The reason I ask some of this is there is obviously a scope for a conflict in interest in the mortgage broker recommending certain banks because he gets better commission, where we may not know of superior…[Read more]

Hi Rudra

The implications is that it can be more expensive for an IP in some states. Secondly, there will be some CGT implications – I'd assume it will be applicable for the duration it's an IP. Lastly, I doubt you'd be able to claim the stamps as a deduction in QLD (you can in the ACT) – you'll probably find that it comes off the cost base when…[Read more]

Mgs4 wrote:
Just a general question on mortgage brokers. As you build a portfolio and provide a mortgage broker with more business, do you sometimes get other benefits like commission rebates or access to better rates than smaller clients. Do most investors with large portfolios on the forums use brokers? From what I've read it seems that if you…[Read more]