Jacque Parker is spoken about highly  http://housesearchaustralia.com.au/about/

Cheers

Jamie

If you take a DIY approach you could do it online quickly – but you run the risk of setting it up incorrectly which will be costly in the long run.

A decent account should set them up for you – so the timing will depend on how quickly your accountant works.

Perhaps aim to have your offer verbally accepted before signing the contract.

Cheers

Jamie

bella84 wrote:

I'm interested in the thoughts of experienced investors – knowing the above and our plans, would you buy the property? Do you think we're in a good position to bargain and offer a lower amount?
The agent indicated $185 – $190K was ballpark (and I think this reflects the market), but I don't think i'd want to offer any more than…[Read more]

katie_b wrote:
 I notice these websites etc offering paid valuations of the property or area but is anyones valuation trustworthy? 

An independent valuation should be accurate. However, at the end of the day, it's the lenders valuation that counts – and that won't be able to occur until the property is complete and ready for settlement.…[Read more]

ignoblis wrote:
Thanks Jamie, really appreciate the advice.

If I were to redraw from the current IP and put it into another IP that wasnt my PPOR (or for that matter another income producing investment) would I have anything to worry about?

No not really because it would all be IP related so all deductible.

You might come undone if you ever…[Read more]

OK – best to sort out the equity release first so you know exactly where you stand. Otherwise, you'll locate a property and will need to submit two applications at the one time (first for the equity release and second for the purchase).

Unless the bank/broker you're dealing with is going to cross coll your properties – then they'll take the lazy…[Read more]

neek0la wrote:
Thanks for your reply catalyst. That's the strategy that I am aiming for.  My biggest concern is that I a buyers agent will not get me a place any cheaper than what I could, yet I would still have to pay them.  

Not entirely true.

They may have access to properties that you don't. The good ones are also skillful negotiators who…[Read more]

Homemade wrote:
Well organized and targeted visits ideal, but wondering about offering (conditionally) sight unseen and then refining on acceptance of a few offers and subsequent visit. Does this actually work?

I guess it could.. You'll need to suss out the legalities of making an offer in the state that you're purchasing in. For instance -…[Read more]

Yes, I think a good BA is definitely worth it depending on the individuals circumstances.

I agree with Catalyst though – like any industry there's good and bad ones.

You could start a new thread asking for recommendations for BA's in the area – you might get a few options to choose from.

Cheers

Jamie

TheFinanceShop wrote:
One of the most common curve balls is that valuations come back lower than the investor's expectation so it may be worthwhile (when you are ready to start buying) to do an upfront valuation. Most lenders offer this and it is free.

Regards

Shahin

But by the sounds of it he/she has already accessed the equity so a…[Read more]

They source and negotiate on the property for you. The fee will range from BA to BA.

Cheers

Jamie

No worries.

Set out a plan though – you've got a lot of money to play with. A well thought out, executed strategy is important to reach your end goal.

Cheers

Jamie

You can't get around making that $100k deductible right now.

It will become deductible later when the property you purchase becomes an IP.

The main reason for the separate loan spit now is to avoid contaminating your current loan with a mix of IP and PPOR debt – or as Terry W puts it, mixing urine with water.

Cheers

Jamie

Hi and welcome aboard.

I wouldn't redraw the money – it will complicate the deductibility of the loan (mixing non deductible debt with deductible debt). 

I'd set up the new loan as a separate $100k loan split.

Use it to cover deposit/costs on the next purchase.

The overall structure you'd  be look at would be.

Property 1
Loan 1: existing loan…[Read more]

I'm with you – I have no idea.

Someone mentioned dinner with Steve McKnight

Cheers

Jamie

tigermiger wrote:

I have never put in a private offer before…. Am I allowed to submit an offer to the agent without pre-approval and how do I submit an offer? I was thinking of offering $230k?

You can submit an offer without a preapproval – there's no issues there.

However, make your offer "subject to finance" and give yourself enough time…[Read more]

Agree – it certainly doesn't hurt.

Cheers

Jamie

I agree. That's one thing I really enjoy about ownership – spending free time improving the property and knowing that it's probably adding some value.

There's also the freedom that ownership brings in terms of not having to worry about routine inspections or the chance of the lease not being renewed for whatever reason.

I understand that there's…[Read more]

No worries – glad it helped

Cheers

Jamie

Hi Sam

You can access equity in your current property to purchase your next.

You can also turn your current unencumbered property into an investment property.

However, you can't claim any interest against the unencumbered property.

Why? Because deductibility is determined by purpose – the purpose of the equity release is to fund a new PPOR,…[Read more]