How much did it all cost?

Cheers

Jamie

No worries at all. It's come in handy for me a few times when self managing.

Enjoy.

Jamie

Hi and welcome aboard.

I haven't heard of the company – but there's quite a few of these mentoring type companies popping up.

What is it exactly that they offer?

Cheers

Jamie

Hi and welcome aboard.

All your questions will be answered in this amazing little book http://www.ors.act.gov.au/resources/attachments/The_Renting_Book_-_A_Guide_To_Your_Rights_And_Responsibilities_As_A_Tenant,_Property_Owner_Or_Real_Estate_Agent.pdf

Cheers

Jamie

1. Yes it's possible but you'll need the file to be escalated. They'll need to print and send out the loan offer docs ASAP and you'll need to return them quickly.

2. Yes you can try.

Cheers

Jamie

Hi Trent

Best to keep first property as interest only. There's no point paying down a deductible IP debt when you have a non deductible PPOR debt.

I'd also keep the second property as interest only too – but with an offset attached. Park all your spare cash in this offset and make an effort to place regular installments into the account.…[Read more]

Hi Trent

Welcome aboard.

Generally you have IP loans set up as interest only and PPOR loans either as principle and interest or interest only with an offset.

Personally, I prefer interest only on all loans with an offset against one – the PPOR loan.

This article I wrote for API magazine explains the concept in more detail.

Hope that helps.

Jamie

propertyboy wrote:
How do I find out who the good managers are? I have always manged the place myself but cant anymore as I am moving,

Could be worthwhile starting a new thread requesting PM recommendations in the area.

Cheers

Jamie

The 1 week fee is usually triggered for each new tenancy placement.

I don't know what the going rate is for PM's in your part of the world – but focus more no quality over price because at the end of the  day, a couple of % off is only going to be a few dollars a week savings.

Cheers

Jamie

My wife self manages our local IPs and we've had no major issues so far.

I wouldn't inspect them too frequently – and it's not necessary if you've placed decent tenants. We usually inspect one month after the tenancy commences and then usually every 12 months thereafter.

Make sure you're clued up on the tenancy laws of your state and document…[Read more]

Yep, most reports that I've read recently have indicated that the Brisbane market is on the rise – the last two include the Herron Todd White month in review and the Domain housing report for June 2013.

I've got links to both reports here.

Cheers

Jamie

I'm not an accountant but I'd assume they'd be claimable expenses during the period the property is an IP.

Cheers

Jamie

Looks like the post is over 4 years old – it's only resurfaced now because of the spammer above your post.

Cheers

Jamie

I'd have an offer accepted subject to finance before ordering any upfront vals though – don't want to look too keen.

Cheers

Jamie

Four weeks letting fee is huge – I've never heard of such a high fee. 

I don't what PM's charge in that part of the world but in Canberra it's normal to be paying around the 9% to 10% mark with a one week letting fee.

I think I pay about 8% for an interstate IP in Wagga.

Cheers

Jamie

Hi Donna

The size of the complex sounds ok – it wouldn't be classed has high density.

How close are we talking in regards to the railway? Is it quite noisy? 

Cheers

Jamie

Qlds007 wrote:

In my experience difficult to get much out of the dead.

Lol – please tell me you haven't tried.

Cheers

Jamie

I had one of the majors randomly debit $500 from my credit card once – the description for the transaction was a 5 digit number. After hassling them for a while, they conceded that they had accidently charged me for another customers settlement fee related to a property purchase in Sydney….lucky I bothered to check my statements.

Cheers

Jamie

95% loans are available for construction deals.

Cheers

Jamie

Yeah that seems more like it – at the end of the day, it's quality over cost. I'm happy to pay good money if I know the service is going to be top notch. 

Cheers

Jamie