Catalyst is on the money. You'll meet some great people – all with a common interest and from all stages of investing. At least it won't be a spruik fest either.

Cheers

Jamie

I think Wagga's fine. Like anywhere though – carry out your due diligence (which it seems like you are) and make sure that the property fits in with your overall investing plans. 

Best of luck.

Jamie

Hi Dave

Wagga is a fairly consistent market when it comes to growth. It doesn't seem to experience big booms and busts but travels along nicely. 

There's two distinct markets in Wagga – the cheap stock in some of the less desirable areas and then there's everything else.

Talk to some local REAs about flipping. I know there's some investors who…[Read more]

Nice find. Tart your property up at the expense of the local govt

Cheers

Jamie

No worries at all – glad it helped. 

Cheers

Jamie

Hi Lyndon

No worries at all. Interest only with offset provides the most flexibility. If you're disciplined with money I'd be inclined to keep all loans as interest only with an offset attached to your main residence.

I wrote this article for API magazine that explains the concept further.

Cheers

Jamie

Hi Lydon

Welcome aboard

1. It will sound biased but a broker with experience in multiple property ownership would be your best bet in my opinion. Branch bankers are restricted to the products that their bank offers – most of them aren't experienced when it comes to the intricacies of structuring finances for investors. I know you're asking…[Read more]

Hi Ben

Look's like you've already worked out the answer!

Cheers

Jamie

Hiya Waggacity

Welcome aboard.

Just work that into your settlement negotiations – if it's an investor purchasing the property they might be happy to agree to a longer settlement. 

Have you called your lender to suss out what the break costs would be?

Cheers

Jamie

Hi Ben

I've never heard of them.

What do they offer specifically? 

I had a quick squizz at their website and still don't know what's on offer.

Cheers

Jamie

I've never heard of them.

What are the selling? If it's off the plan stock I'd run for the hills.

Why did they approach you?

Cheers

Jamie

I can't believe this is news worthy. Someone who didn't carry out due diligence and disregarded advice bought a property that they ended up regretting. I'm sure it happens all the time.  

Cheers

Jamie

Hi BLG

Welcome aboard.

It's difficult to provide a tailored response to your individual circumstances without knowing the full details of your situation but generally speaking:

 – Interest only with an offset works well. It provides flexibility now and in the future. I'd also be looking to use a lender that enables future equity releases at…[Read more]

Take a breath, do your due diligence and don't succumb to the pressure of the REA. Especially if it's not your money at stake!

Cheers

Jamie

ChrisA1 wrote:
This article might also help the analysis paralysis – https://www.propertyinvesting.com/user/property-investing-news/blog/investments-sake

Ahh – that's a blast from the past! I forgot that I'd written that.

Cheers

Jamie

Hi Linda

It's possible – and like Richard, something I've done for plenty of clients.

With this situation though, it's unlikely that you'll need to apply for finance for both properties straight away as the OTP property probably isn't due for completion for a while – is this correct?

If so, with OTP – you need to wait until about 3 months out…[Read more]

Like Catalyst said – there's no shortage of information on TIC – both from a general google search and on this forum.

With any sort of property club – find out what's in it for them. How do they make their money? What do you get in return?

Personally, I'm not a fan of these mode of investing. I'd prefer to either locate my own properties or…[Read more]

ChrisA1 wrote:

Richard/Jamie, how do you work with interstate clients where most of your work is by email/phone? In Spongy's situation where her husband appears to be the more risk adverse person, how do you allow both parties to ask questions to ensure they are both comfortable along the way? Do you have access to Skype, do you recommend they…[Read more]

Tom's on the money – 12 months to move in is usually the standard across most states.

Cheers

Jamie

Agree with the others – however, also not an accountant so obtain advice specific to your situation.

Cheers

Jamie