N@than wrote:
How can they fix the hot water system for one week only? Would be interesting to see what would happen after that 1 week period… sounds a bit suss.

Masking tape

Cheers

Jamie

Hiya

If you want to save a few dollars, you might do so by sourcing the unit yourself and then paying for a plumber to install.

Ebay actually has quite a few sellers of HWS that deliver nationwide. Their prices are quite competitive.

Cheers

Jamie

Hi Matt

Firstly, I wouldn't base your offer on the listed price. You need to do some research and work out what YOU believe it's worth. 

Look at comparable sales/listings, the condition of the property, the reason it's being sold, etc. There's heaps of things to consider – this isn't an exhaustive list.

Once you've worked out how much you're…[Read more]

Hi there

I'd focus more on the inclusions and the insurers track record of paying out rather than  the monthly cost. Cost is always a factor but shouldn't be the primary motivator when choosing an insurer, especially if it's on a flood prone area.

Cheers

Jamie

mattliasiian wrote:
Hey Guys Thank you so much for your help, WOW and I thought an interest only loan was bad because you only paid off the interest and not the principle but that makes sense if I want to use it as an investment property in the future, I don't really understand the offset account how it works?? Thanks I am learning a lot already…[Read more]

Hi there

You just pay stamps on the land.

Cheers

Jamie

Shahin's right – WBC are super fast with turning around deals. Was there a valuation involved? That can slow approval times up as credit will be waiting for it to be returned. They may have also requested additional info from your broker which will slow things down a bit.

Cheers

Jamie

Not sure if this helps – http://www.investsmart.com.au/Property/Search

Cheers

Jamie

I agree with the others – it's pointless. At this stage I'd just focus on settling the deal.

Cheers

Jamie

Hi Gav

It's a tough one. Personally – if the tenant was a good, hassle free one that didn't cause too much dramas than I'd fork out for it.  

Otherwise you might get them offside and find yourself with a few more maintenance requests.

Cheers

Jamie

mattliasiian wrote:
Hey Jamie thank you so much for replying well I was leaning towards the flexible rates but wanted to get an idea of fixed and if many people chose that option. Its going to be owner occupied and than swapping in the future into an investment property. I thinking building my foundation from there. 

Thank You

No worries at…[Read more]

Hi there

1. Nope
2. Valuations are generally provided by third party valuers. It is at the discretion from the LMI provider whether they'll accept the valuation. They won't change the valuation amount but might not be comfortable with comparative sales, risk ratings of certain categories, etc.
3. I've never had it happen
4. No – not that usual
5.…[Read more]

Hi Matt

Welcome aboard.

First part of investment financing is to not obsess about rates. It's good to get a competitive deal – but structure and lender selection are more important than choosing the cheapest rate which could ultimately cost you more in the long run due to it being unsuitable for you.

With fixing, I always advise my clients to…[Read more]

darkness72 wrote:
Thanks Terry

pardon my ignorance – when you say split the loan into 2 accounts??

He just means two loans.

Just apply the purpose test. If the money is being used for investment purposes than it's deductible. For private purposes – it's not deductible.

Cheers

Jamie

PLC wrote:
Agree with Richard above, the loan manager has no pull when it comes to approving the application, what they executed on you was a sales technique.

It's amazing how they have the arrogance to make these reassuring claims. The person in credit who's actually assessing the application doesn't even know how the internal credit…[Read more]

Hi Crighto

Another thing to add is to not rush into anything. Take your time – learn about property investing, the various strategies investors adopt and work out a clear plan. Once you've got a sound understanding you'll be in a position to make informed decisions. Get a decent finance person and accountant on board too. If you're buying…[Read more]

Hi Crighto

It depends on your goals, tolerance to risk and borrowing capacity.

I have some clients who would happily convert that $200k into a multi million dollar porfolio.

I also have other clients who are less risk adverse and might use it to purchase one or two IPs.

Work out where you want to be 10 – 20 years from now. Work out what you…[Read more]

Hi Claire

I hope you're doing well.

Thanks for organising – I'll probably see you there.

Cheers

Jamie

Hi needhelp

While 20 enquiries is quite a bit – it sounds like your file hasn't been too active over the past 12 months, is that correct?

If so – you should be ok. The cluster of enquiries from the car finance and credit cards can be explained. You need to be careful with car finance – they'll throw applications left, right and center.

If…[Read more]

Hi Tom

Approval can take between a day and two weeks depending on the lender and loan type.

You also don't necessarily need to have a 20% deposit to purchase the property if you're willing to pay LMI. The minimum is 5% plus costs.

The bank is going to want your dad to be on the title if he's borrowing the money.

Cheers

Jamie