[Jamie MooreParticipant@jamie-mJoin Date: 2010Post Count: 5,069]

September 29, 2010 - 8:44 am

Hi smartcube

Welcome to the forum.

I'll play devils advocate – you shouldn't invest in property if your main objective is to save on tax.

Cheers

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 29, 2010 - 8:34 am

Hi Stuart

You're on the right track – as mentioned above, a good broker will be able to structure it correctly for you.

Cheers

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 28, 2010 - 10:05 am

Hi Stuart

Depending on your current lender, you might be able to refinance your current home loan up to 90% of its value. This will give you about $50k which you can use as a deposit (and purchasing costs – stamp duty, ect) for your $300k PPOR.

Cheers

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 28, 2010 - 9:58 am

Just ask the photographer – they might be happy to oblige. They might also ask for a small fortune

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 28, 2010 - 9:57 am

I like Wagga for IPs. Has shown consistant growth (not ground breaking – but not too bad) and the high yields in the "dodgy" areas mean it's not too difficult finding CF positive/neutral deals (if this is what you're after).

LJ Hooker are constantly selling off ex Dept. of Housing stock. They used to go for under $100k – might be tough to find them this cheap nowadays.

Investors (particularly out of towners from my understanding) are snapping them up, renovating and renting them out. It's only a matter of time until the DoH stock dries up – this might push prices up.

Attracting a decent tennant may be a struggle

Do a search on Wagga – there's been a few posts recently.

Cheers

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 28, 2010 - 9:47 am

To avoid using your own cash, have you considered accessing some of the equity in your current PPOR to fund the purchase? LH touched on it above.

If you're thinking about building a portfolio, it helps to have some cashflow – $40k placed in an offset account is a good start.

Cheers

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 25, 2010 - 8:08 am

Sure can – all the info you need should be on the Deposit Power website. Last time I checked you could get an online quote as well.

Cheers

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 24, 2010 - 12:41 pm

Personally I think Beenleigh (and the rest of Logan) will do pretty well over the coming years. Prices have seemed to stagnate over the last 12 months and it hasn't experienced the same massive growth increases down south in Syd, Melb and Canberra. Maybe it's only a matter of time before it takes off again.

If it was me –  I'd keep it.

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 24, 2010 - 8:04 am

Hi Intrigue,

Just sent you a private message.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 22, 2010 - 10:34 am

Check out ebay. There's a few companies selling laminate flooring – very competitive prices. You can order a sample for a few dollars.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 22, 2010 - 10:31 am

Which broker you should go with? How about the one that:

-will structure the deal correctly
-know's which deal is best for your circumstances
-is up to speed with current lending criteria, products and policies
-answers your questions
-if you're an investor – preferably one with investing experience
-understands your long term plans and helps you build your portfolio

I wouldn't neccesarily opt for the one that gives you back $10 per month.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 21, 2010 - 12:46 pm

I agree with Ryan. Properties that are highly negatively geared limit your borrowing capacity. At a quick glance, it looks like this property will be negatively geared to the tune of $300 per week. Can you afford this? Do you want to purchase more property in the future? Do you think it will appreciate in value by more than $300 per week?

Don't rush into anything. I'd spend some time learning – that more knowledge you acquire, the more confident you will be with the decisions you make (it will also limit mistakes and help with mitigating risks).

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 21, 2010 - 12:32 pm

Hi Evernat

Welcome to the forum.

If paying off your PPOR is the goal – but you also want to invest in property, then you're going to have to find CF+ or neutral properties at best. A negatively geared portfolio is going to drain funds that can could be used to pay down your PPOR debt.

You're right – they are probably harder to find now, but they still exist. You may need to think outside the square a little. Perhaps buying something that you can renovate to command more rent. Maybe something with a granny flat that would enable you to recieve two income streams from the one property. You might also have to broaden your search – I'm not sure how Nowra stacks up but I had a brief search a few months back and don't recall finding any CF+ deals.

On another note, the newly sealed Nerriga Road linking Braidwood and Nowra is opening up next month. It's going to shorten travel distances between Canberra and Nowra by an hour. I can see more Canberran's holidaying in this part of the world – great for the local economy….possibly property prices too

Cheers

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 20, 2010 - 11:27 am

Hi Tja,

It sounds like your loans are not crossed.

Investors generally opt for interest only loans because the "interest" component is tax deductable. With the current principle and interest loan you have on loan 1, only the "interest" you pay can be claimed as a tax deduction – not the "principle."

I'd have all the loans set up as interest only, with a MISA account (CBA's equivalent of an offset) against loan 3.  I can't understand why they said this was not possible.

Your best bet is to speak with a good broker.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 18, 2010 - 8:27 am

Hi Mark,

Congrats on the purchase! I was going to give you a buzz to see how it went.

Feel free to give me a call on the mobile to discuss the stamp duty scenerio – I was just about to write a response but there's a fair bit to cover.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 14, 2010 - 10:22 pm

Qlds007 wrote:

Heh Jamie

What is wrong with Uzbekistan ?

Doing a couple of deals there at the moment. Well at least the client said he was buying there so i have ordered the valuation !!!!

I just see better value in the Kyrgyzstan market at the moment

I noticed one of the key spamming offenders has changed their username and given themselves a new avatar….same silly one liner statements with the same website link.

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 14, 2010 - 12:02 pm

Both get my votes – so sick of seeing invites to invest in Uzbekistan and random spam posts about the US property market.

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 13, 2010 - 10:52 am

Hi Flare,

Yep, you can certainly have two loans with the same lender that aren't crossed collaterised.

If you have $40k in your offset, you could use that for your next IP purchase instead of taking out a LOC. Depending of course on the price of the IP you're looking at.

In any case, have a chat with a good broker that works with investors and they'll be able to advise on the best course of action.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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September 13, 2010 - 7:41 am

Hi Nathan

It's an exciting time and I wish you all the best with reaching your goals.

Have you considered accessing some of the equity in your partners home? You could refinance that loan and use the proceeds towards renovations on your home.

Once the renos are finished on your home, have it revalued and access the equity in it- you can then go shopping for IP 3.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
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Mortgage Broker assisting clients Australia wide Email: [email protected]

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September 12, 2010 - 10:33 pm

Which lender are you with?

In the most simplistic sense – it's a two stage process.

1. Depending on the lender, you could probably "top-up" your loan to 90% of the properties value.

2. You would then use the "top-up" as a deposit for your next property. You could either stick with your current lender or go elsewhere. Depends on who offers the best deal for your circumstances.

Cheers,

Jamie

Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me

Mortgage Broker assisting clients Australia wide Email: [email protected]