Hi Jeremiah

It all sounds pretty good.

I wouldn't necessarily start off locally – especially if your local area doesn't show any indication of being an ideal place to invest in (and I have no idea if it is or isn't).

Buying interstate can be daunting though – so if you do go down this path, I'd recommend trying to visit the area or if that's…[Read more]

Hi Josh

Welcome aboard.

It's hard to comment on what structure, etc is best for you based on the limited info.

Adelaide is fine when it comes to lenders. Restrictions on areas generally occur for rural/remote post codes as well as some high density units in metro locations.

Why do you need to set up a trust? I'm not saying it's right or wrong…[Read more]

It's a tough one.

In a growing market – I'd assume a two year old townhouse would sell for more.

In a stagnant market – it wouldn't make a difference and may even have sold for a little more when brand new.

The biggest consideration here is how long do you plan on holding them for? If for only a couple of years – then selling could be a good…[Read more]

lila77 wrote:
Thanks, the val that the current lender did in about $50,000 above equiv sales in the area so i don't think other vals will come in as much more. Btw I work in the medical profession and still can't get LMI waived only doctors can.

There's quite a few medical professions that are considered.

Cheers

Jamie

lol – I've seen it BFP as "Big Fat Positive" in reference to pregnancy tests on some of the parenting forums!

But I'm pretty sure that's not what you're after

Maybe it was B&P – building and pest inspection.

Cheers

Jamie

Hi Lila

Sometimes LMI is just a cost of doing business.

If you want to take a loan above 80% – LMI is going to be triggered.

The alternative is saving a larger deposit – but that might take some time.

Cheers

Jamie

Freckle's right – perhaps provide a little more detail and a point of contact, you never know.

Cheers

Jamie

god_of_money wrote:
I dont understand why you dont park all the money in your offset account from the begining

Agree 100%

However, the reality is that most people/bankers/brokers are simply unaware that this option even exists. Which is a pity, because it ends up costing them (the mortgage holder) a lot in the future.

It's also drummed into…[Read more]

You'll need to talk to an accountant about the taxation issues.

From a financing point of view, you'll need to use a lender that's happy to fund a couple of dwellings on the one title at the LVR you require. If your current bank doesn't allow it – you may need to refi to another.

Cheers

Jamie

Hi Connolly

Best to give your insurance company a buzz to find out.

Some unapproved structures are very common though.

Cheers

Jamie

JacM wrote:
Hi there

DWolfe is a renovator

https://www.propertyinvesting.com/user/dwolfe

+1 for Dwolfe. You'll be in good hands – she's an excellent contributor to this forum as well.

Cheers

Jamie

You can't go too far with BMT.

I've also used corpred and write it off – both are fine too.

Cheers

Jamie

Hi Jay

I'm not sure about the legalities in respect to the offer/negotiation process when purchasing real estate – but I'm pretty sure there's a rule in there somewhere that prohibits real estate agents from lying. Whether or not they all abide by the rule is a different story.

Cheers

Jamie

Hi Walksy

Welcome aboard.

A cheap property with a decent yield doesn't always make for a good investment. It might be adding a few dollars to your pocket but if it's not going up in value – it's not going to be  worth it.

I don't know which area you're looking at – but anything around the $100k mark suggests rural/remote where CG is very…[Read more]

Hi Paul

As the others have mentioned – rate should rarely be the primary driver behind arranging finance.

I'd also be careful with fixing for 5 years – it's a long time and it's difficult to effectively plan this far ahead. What happens if the lender you're fixed with decides they don't want to allow you to access equity for instance? If you…[Read more]

Some of my clients are currently active in the Brissy market. The reports I'm hearing is that competition is picking up and properties are being snapped up quite quickly.

The Herron Todd White month in review for May has the Brisbane market it listed as being "at the start of recovery" – the report is here if you're interested…[Read more]

Hi Bella

I've personally used them twice and have no complaints.

Cheers

Jamie

Hi and welcome aboard.

I don't know the particular area so won't comment on whether it makes for a good investment.

A pre-approval now isn't going to provide much comfort when settlement is 12 months away – in fact, it's an extra hit to your credit file that you don't need.

Instead, I'd talk with a banker/broker about your situation and have…[Read more]

Hi Nathan

I hope you guys are doing well up north.

It's a frustrating situation – I've experienced the same thing.

Long story short – tenant was in arrears about $3k or so. 

Tenant vacated the property – we kept the bond and then went to the tribunal to recover the rest.

Tenant didn't attend the tribunal hearing. He was served with a couple…[Read more]

DaOne wrote:
Can anyone suggest BA's in Geelong, Victoria

Jac M from this forum.

Cheers

Jamie