I've had to make a couple of claims with Youi recently – the first was a bit of a pain and after a bit of persistence they finally paid out. The second claim was hassle free. Call around and get some quotes – also look carefully at what each policy includes.

Cheers

Jamie

unlimited wrote:

Terryw wrote:
Don't mix personal and investment borrowings in the same loan. You will be able to apportion it easily enough to determine deductibility initially, but as you put more money in it will become a nightmare. Also any further deposits will be coming off the investment portion as well and this will result in more…[Read more]

Terryw wrote:
Usually you cannot claim reno costs as outright deductions – mostly capital improvements I would imagine.

Seek specific tax advice.

That's what I would have thought as well – this seems like improvements rather than repairs…..and I don't know if you can get away with claiming repairs soon after purchase because it's assumed…[Read more]

Yep, landlord insurance is important for any IP. If you do a quick search on the forum you'll find heaps of posts with some recommendations.

Cheers

Jamie

Have a read of the Margaret Lomas book called 20 must ask questions. It has some good ideas for honing in on an area to invest in.

Cheers

Jamie

Terryw wrote:
http://www.houseofwealth.com.au

+1

cheers

Jamie

Thanks for the heads up Scott.

You're not based in QBN are you?

Cheers

Jamie

Hi Corie

Sounds like you're after the PAYG withholding variation form.

http://www.ato.gov.au/individuals/content.aspx?doc=/content/00188348.htm

Your deductions should work out the same – but instead of a lump sum return at the end of the financial year, you pay less tax throughout the year (which can help with immediate cashflow).

Cheers

Jamie

I'd just keep it informal and ask the owners if they're still interested in selling – and from that conversation, you'll find out whether or not the agency still has the rights to the listing. Just go with your gut.

Cheers

Jamie

Long leases can be prohibitive for the owner. There's been a few posts on the topic that should reveal some pros/cons.

Cheers

Jamie

Sounds like a dud banker. They can order the val upfront before you commit to an application (it may just be a desktop) – you shouldn't be up for a new LMI premium if the value comes in lower, only a minor adjustment to your existing premium.

Cheers

Jamie

wilko1 wrote:
I reckon this is one of those situations were being patient pays off. I think it's more prudent to be patient then to be enthusiastic about the next deal. 
Wait until your land is at least unconditional under contract. You can know how much you'll be getting back and what you can afford. Don't want to put your 4k down as a deposit…[Read more]

Hi there

Which lender is this?

Did you pay LMI previously?

Why are they telling you LMI is payable if they haven't seen a valuation on the property? Are they basing this off what you've estimated the property to be worth?

If worse comes to worse, you could get a broker to order a couple of upfront valuations with different lenders and if they…[Read more]

Hi Kat

That's property for you – it's not made up of one market but thousands of smaller ones across the country. So whilst one area might be in decline – another close by might be on the increase. There's plenty of reasons for it – some suburbs experience gentrification, some receive a boost in infrastructure, the list goes on. 

HTW produce a…[Read more]

Ryan_vs wrote:
Roberto, it's actually quite possible that the agent is being honest in this case. It's not uncommon for a high offer to be put forward that the owner accepts, only for the sale to fall through. From the owners perspective they think, it's obviously worth what they're asking, 
True the agent may be trying to justify in your mind…[Read more]

Chances are the agent has a contract in place to sell the property within a stipulated timeframe – so if sold directly to you, they're probably still entitled to a commission.  Any particular reason why you're trying to cut out the agent? 

Cheers

Jamie

Agree with S Roberts – I wouldn't want an agent trying to sell one of my properties while being remunerated by the hour! It would end up costing more.

Cheers

Jamie

If you like golf it would be a great spot

I would be more worried about flying golf balls then the smell of chemicals. A friend lived on a golf course and I can't remember there being a chemical smell.

2.4km away from a tip seems like a decent distance – could you smell anything? 

Have you had a read of the strata minutes? They might disclose…[Read more]

tom123 wrote:
what is the difference in closing costs from A ppor / ip?

also my boss said that PPOR you don't have to pay stamp duty on it and that its only on IP that you do.
i think he doesn't know what he's talking about but thought i'd ask just to be safe.
and are their any discounts from buying an PPOR rather then a IP?

Your boss may…[Read more]

I'm not sure about the Logan area at present. I kept an eye on the market 3 or 4 years ago and it looks like prices have dropped since then.

There's also the socioeconomic stigma of the area – which may have an impact on the quality of tenant that you attract. That's just a generalisation though.

Cheers

Jamie