Hi and welcome aboard.

Mortgage broker – and doesn't need to be face to face if you're comfortable with email/phone.

Cheers

Jamie

Hi Sam

Look at previous sales and current listings of comparable properties. Your banker/broker should be able to generate reports for you on the property that provide this info.

Find out the sellers motivation for selling – see if there's anything you can add to the deal as a sweetener such as a quick/long settlement period.

Building/pest…[Read more]

Not all DoH homes are filled with bad tenants.

Suss out the strata minutes – see if there's been any issues in the complex.

It could have an effect on future resale if the purchasers do their due diligence and work it out.

Cheers

Jamie

Jason957 wrote:
Hello Guys,

Just a small introduction i am 17 and have been reading about property and very interested.

I wanted a bit of knowledge on the topic of loans and borrowing for the buy and sell strategy.

I understand there is some kind of insurance if your loan is under a certain percentage but how do you go with a buy, renovate…[Read more]

Hi Aidan

Welcome aboard.

How much is it costing you to hold on to?

Is there any scope to add value to the property? I assume not.

Are there any indicators of future growth in the area?

Taking a $70k hit is tough – but if the property doesn't look like it's going to experience any growth and is costing you to hold onto, then getting rid of it…[Read more]

Hi noincome

Welcome aboard.

You need at least a 5% deposit and funds to cover costs – which as an estimate will be around 5% of the purchase price. So as a bare minimum – aim to come up with 10% of the purchase price.

Queanbeyan, NSW can be good – if you can pick up a cheap 2 bedroom unit in need of cosmetic renos you can add some equity quite…[Read more]

Is it just me or does there seem to be more of these property investment groups popping up every day?

Hi propgirl – welcome aboard. This forum is a great free resource on all things property investing. There's also a lot of good books out there. I'd spend some time getting clued up – work out exactly what you want to get out of property investing…[Read more]

Don't go above 90% with Homeside – even with LMI. Credit scoring becomes harsh.

Cheers

Jamie

Hi Matt

Welcome aboard.

You'll need to be more specific about the area that you're looking to invest – BA's focus on particular areas.

Cheers

JAmie

Hi Adam

That's the issue – a lot of people say "you should set up a trust" but a lot don't have a clue why.

This often results in new investors spending heaps on setting up complex structures that were not ideal for them.

A good resource is trust magic by Gatherum-Goss.

Cheers

Jamie

god_of_money wrote:
I have spoken to their "pricing team" and being told the MAX they will give for "new customer" is 0.96% disc
They might offer 1.05-1.1% ~2-3 years ago depending on the LVR/application/amount etc

Anyone would light to shed the lights on current "best" rate for BIG4

1% off the SVR with ANZ is good. If you want lower, than…[Read more]

Shouldn't be too hard – just take in your last two years of financials so they can see what's been done previously.

Cheers

Jamie

With loan account 1 above – you should also incorporate the purchase costs of the IP such as stamp duty which will take it closer to 25% of the properties value.

Cheers

Jamie

Hi again

Not sure if he offers that type of insurance but:

Richard White ANZIIF (Snr Assoc) CIP
Dip Fin Serv (Ins Broking) Dip Fin Serv (General Ins)  
Managing Director

WHITE Insurance Brokers
PO BOX 2191, FOUNTAIN GATE, VIC 3805
16 STAR CRESCENT, HALLAM, VIC, 3803

T: 03 8790 5701  F: 03 8790 5702
E: info@whiteinsure.com.au
W:…[Read more]

god_of_money wrote:
I tried to do "price match" recently with ANZ Mortgage retention team. They are aware of bluffing tactics  (ie. asking payout figure).
My current rate is 5.4 % (1% disc through breakfree package). They declined to drop it further.

That's a decent rate anyway – I wouldn't worry too much. It's hard to get a 1% discount…[Read more]

Hi there

I'm not an accountant so won't get into the specifics of your taxation related questions.

As a general comment though – I would never purchase an IP with the main motivator being to reduce your tax billed. The logic is flawed – you need to lose a dollar to get 40 cents back.

While the tax cuts associated with IPs are fantastic, I'd…[Read more]

With auctions, you generally pay your deposit and exchange on the day – if you can't proceed with the purchase, you'll find yourself in a bit of trouble.

Best to get a preapproval in place just as added reassurance.

Best of luck!

Cheers

Jamie

thecrest wrote:
Hi Richard.
Is that a typo  ?       "  I don't think you can go far by joining in the forum banter and discussion  "

Cheers
thecrest

Insert a "wrong" after far

Cheers

Jamie

Hi Luke

The property might increase in value over time, you might renovate and manufacture equity or there could be a combination of both.

Cheers

Jamie

Hiya

Try Pete Tersteeg http://www.sagelending.com.au/Contact.aspx

Cheers

Jamie