I suspect NAB/HSL will be going up soon.

Cheers

Jamie

Hi Pep 

Not sure if it helps but we've got a spreadsheet on our website that helps crunch the numbers on deals.

Cheers

Jamie

Hi and welcome aboard.

Where to start!

There's a few IP related magazines worth checking out – Australian Property Investor and Your Investment Property magazine both have a lot of IP related data towards the back of the mags.

Forums like this are great – they're up-to-date with relevant information from investors.

A list of acronyms can be…[Read more]

Have to disagree with you Adrian.

I wouldn't take out a fixed loan for renos.

At least with a variable product you'd only be required to make repayments on the portion of the loan that's used. Which is important for renos because  they can take time to complete so you might find yourself paying tradies bills over the next few months to a…[Read more]

I'm not an accountant and would always suggest that you seek professional advice. I would have thought you could claim the interest given the purpose.

Cheers

Jamie

TheFinanceShop wrote:
Just because the properties are positively geared does not mean that it will help with servicing.

Why not?

Additional cashflow = increased servicing.

I understand what you're saying about available equity usually being an issue before servicing for a lot of investors – but I wouldn't say CF+ properties don't help with…[Read more]

No worries – best of luck.

Cheers

Jamie

I'd keep them all as IO with an offset linked to one. Park any spare cash you have in that offset.

Keeping the loans IO will also improve your borrowing capacity with some lenders as well.

Cheers

Jamie

Hi Arkad

Welcome to the forum.

I understand what you're asking – but there's no straight forward answer.

For each property you accumulate – the bank will take into account the liability and the rent it receives (usually at 80% of the gross rent). So to improve your borrowing capacity via IP rent – you'd need to have pretty high yields.

One of…[Read more]

jmsrachel wrote:
I'd be calling Jaime, rumor has it he's a gun. Any baby yet Jaime or we still have to keep on waiting?

Only 2 weeks and 6 days a way

Cheers

Jamie

CBA aren't all that transparent in their cash-out policy. They will do high LVR cash-outs but will sometimes need evidence in the way of a contract of sale, renovation quotes, etc.

At less than 80% there's usually no dramas – the brokers notes will suffice.

At 95% LVR they want to see where that cash is going.

Cheers

Jamie

Mick's right, a 95% internal refi with CBA is no easy feat.

What will be the purpose of the equity release? Future IP purchase prob won't cut it without a contract of sale. Home improvements with some quotes can do the trick – we got a $48k increase over the line at 95% based on this purpose.

Cheers

Jamie

No worries Ben.

I think there was a thread on the results program recently – if you do a search it should pop up.

Talk soon

Jamie

Yep – if a property is negatively geared, the owner is speculating that the long term capital growth from the property will outweigh the costs.

However, with negatively geared properties (and coupled with depreciation and other running costs)  there's generally a tax return at EOFY that reduces the out of pocket costs (that's assuming that…[Read more]

Hi and welcome aboard.

I know somersoft (another property forum) posts a thread about an Adelaide meet up every once and a while. Might be worth sussing out – just do a google search and you should be able to find it.

Cheers

Jamie

Hi and welcome aboard.

I can't comment on your borrowing capacity without knowing the finer details of your S/E financials – which I wouldn't expect you to air on a public forum

You've got a good equity base to get you started – to access that equity, you'll need your mate to agree to the equity release as well.

Going forward, I would avoid…[Read more]

Yep, what Derek said (sorry – forgot to check back on this thread).

So you'd have two loans set up against your PPOR (original loan and equity release for the IP deposit/costs) and one against your IP.

Cheers

Jamie

Hi John

Is your current home loan an owner occupied or investment home loan?

If owner occupied, it would be best to set up a second loan split instead of redrawing the funds. This is due to the need to distinguish deductible from non-deductible debt. 

By simply redrawing the funds, you face the risk of contaminating deductible debt amongst…[Read more]

Hi Ben

Got your email – will give you a buzz at a more reasonable time for you west coast folk.

Cheers

Jamie

I remember a similar story last year where the realestate.com ad for a rental showed pics of the backyard – one of the pics identified a small crop of "weeds" that landed the tenants in a bit of trouble.

Cheers

Jamie