Has he sought advice from a solicitor? 

What state is it in?

Cheers

Jamie

trickeymickey wrote:
Jamie I have a question for you…. For #3, would you suggest the same principle or perhaps try to release equity from #1 and 2, (since they are financed with the same lender), rather than a PPOR equity loan?

It depends. 

I'd look at accessing equity in whichever property has the lower LVR so as to mitigate any LMI…[Read more]

The Dark Knight wrote:
I've never done it or had it requested. You would definetly think it would be a PM's first job though.

Same.

It's never been raised by any tenants. 

Cheers

Jamie

cathnniv wrote:
 Does it not help that the ip is cashflow positive or neutral?

Any additional income will help. It would have to be CF+ by a fair bit to make a big difference though.

Cheers

Jamie

I'd take Shahin's advice – if you can afford the townhouse over the unit than it will probably make for a better investment over the longer term.

Cheers

Jamie

Yep that's right – $46k if you take the PPOR up to 80% LVR.

Some lenders will allow you to go up to 90% LVR as well – that would give you a bit more to play with if needed.

Cheers

Jamie

I think there's another drop due soon – not sure if it will be next month though.

Cheers

Jamie

LA5ER wrote:
Is Domain.com a reliable source for prices and rental returns?

I wouldn't rely only on Domain – but as part of a broader due diligence process  it's fine.

Cheers

Jamie

Hi again

Don't just base your decision on a few responses to this forum. Consult some professionals in your area – ask real estate agents about how the market is looking (chances are they'll try anything to get your listing though), talk to your property manager about the state of the market and speak with your accountant about the taxation…[Read more]

If there's little scope for future growth, the property can't be renovated to add value and if the money can be used better elsewhere then I'd consider selling up.

Cheers

Jamie

Hi and welcome aboard.

The refinance purpose is ok and the loan to value ratio is fine.

I can't comment too much on your borrowing capacity without knowing the finer details.

Owning an IP with another party will impact on your borrowing capacity – but some lenders will take into account the portion of the debt that you have (as opposed to the…[Read more]

siewlin wrote:
sorry what  does CBA stands for ??? thanks

Commonwealth Bank of Australia.

Cheers

Jamie

Good move Ian – keep us posted on how it all pans out.

Cheers

Jamie

Hi La5er

Welcome aboard.

Keep reading and educating yourself. There's a sticky thread on recommended reading here – https://www.propertyinvesting.com/forums/community/heads-up/6845

Continue to stay active on forums like this one. They're great for up-to-date information and for asking questions.

All the best.

Jamie

Qlds007 wrote:

Been licensed for 18 years and still scratch my head when i see so called professionals who have do idea and are out there giving advice.

Yeah it's a scary thought. I guess the good news is that they don't usually last too long.

Cheers

Jamie

Hi Matt

Welcome aboard

Best to speak to a decent broker about your borrowing capacity to find out what's feasible for you at the moment.

How long you should wait until you start investing in property comes down to your own mindset and the assessment I mentioned above.

Cheers

Jamie

Hi Belzgirl

I've got a couple of IPs with Real and can't complain – however I haven't had to make a sizeable claim yet.

I had to make a couple of claims with Youi and they were a little bit painful – but it all worked out in the end.

I've head AAMI is pretty good – and are quite prompt to pay out when needed.

Cheers

Jamie

Hi Connolly 

It depends. Most lenders provide upfront valuations for free – I can't think why any broker would charge a client in this instance. '

Some lenders charge an upfront fee for upfront vals. In these instances, the broker may ask the client to cover this cost. Some brokers might pay for it – others might reimburse the client if they…[Read more]

siewlin wrote:
i have been reading lots of property books and i came across this RICK OTTON investor who purchased property with a dollar !!! does anyone has tried his method or have attended his bootcamp ??? it's effective and can it be applied in australia market ??? please advice

Rick Otton's strategy is vendor financing – you can read up…[Read more]

I'm not an accountant but I can't see why you couldn't.

Cheers

Jamie