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  • Profile photo of Jamie MooreJamie Moore
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    March 24, 2014 - 7:38 am

    Thanks guys…..but the post is almost a year old now :-)

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 24, 2014 - 4:29 am

    Hi Jen

    I haven't heard of the broker or company – but that's not to say they aren't good.

    Trust is a big a part of the relationship. If you feel that you have this with your current broker – and you're happy with the advice provided from them so far, then they're good reasons to proceed with them.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 21, 2014 - 2:38 am

    I remember seeing a 70m2 three bedroom townhouse in the Logan area of QLD once – very pokey!

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 21, 2014 - 2:36 am

    I reckon there's some good opportunities in south coast NSW at the moment. There's an abundant of stock and new releases – so quite a few properties up for sale for lengthy periods which usually leads to decent discounting.

    The weather wouldn't be as nice as the central coast though – a bit chilly in winter.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 21, 2014 - 2:08 am

    Perhaps seek a second opinion from another solicitor in your state.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 21, 2014 - 2:07 am

    One of the biggest issues with OTP is an inability to arrange finance until the property is close to completion.

    Therefore, if your circumstances change during the construction period or the valuation doesn't stack up – you may have issues sourcing finance. If that happens, you stand to lose your deposit and possibly more.

    All in all, OTP can work in certain markets (rising ones) but I'm personally not a huge fan of them.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 20, 2014 - 10:12 pm

    Hi Lea

    Congrats on the new start to life :-)

    I'll have a crack at this – and it's only my opinion, not advice.

    Work out which one of the properties you'd like to live in – whether it's yours or your new husbands. This will be just as much of a lifestyle choice a monetary one – as I'm sure you know, it's not always about money.

    Following that, work out where you want to be financially in the next 5, 10, 20 years.

    The common end goal is to be able to retire with $x amount per week to live off. 

    Property is the vehicle that you've chosen to get you from today to your end goal – now you need to look at the properties you own and decide whether they fit in with your plan.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 20, 2014 - 1:47 am

    It reverts to P&I – but you can often change it back to another IO term.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 19, 2014 - 9:57 pm

    Agree with Jac – do your due diligence and make sure it's a possibility first.

    Talk to builders too – get an idea of costs.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 19, 2014 - 1:35 am

    Hi Newbie

    I work with clients directly – I don't hand them off to other brokers. I have support staff that help with admin type tasks only.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 18, 2014 - 10:41 am
    blocka wrote:

    I just feel uneasy after speaking to them  

    Go with your gut. If you feel uneasy about it – there's usually a good reason.

    I don't know the person/company so won't comment about them.

    Generally speaking, the companies selling off the plan units are glorified agents making massive commissions from overpriced stock.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 18, 2014 - 10:37 am

    Hi renren

    welcome aboard :-)

    There's way too much to consider here. Off the top of my head, the questions I'd be asking are:

    1. What are your long term goals?

    2. Where is the other property located? Is their scope for growth? What are the holding costs like?

    3. Can you afford to keep both?

    4. What's the size of the unit you're buying? 

    5. Is the unit in a large complex?

    6. What are the body corp fees like?

    These questions are just scratching the surface. You really need to work out your longer term goals and then devise a plan to reach them.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 17, 2014 - 9:32 am

    Hi there

    They would both have to sign off on the loan docs for the equity release (so are jointly responsible) but don't have to purchase the next property together.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 17, 2014 - 4:38 am

    lol – that will go down well with my wife…. "but Freckle, from the internet forum I spend too much time on, told me to do it!"

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 17, 2014 - 2:50 am
    Qlds007 wrote:

    It is the purpose of the funds and not the security used which is the defining fact.

    That's the key Miz.

    It's all about purpose. If it's being used for investment purposes the funds are deductible.

    That's why it's good you set up the loan as a separate facility.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 17, 2014 - 2:46 am

    Cheers Freckle.

    We're stopping over in Vietnam for a few nights in both directions – so that should break it up a bit.

    We just got back from a three hour car trip from the South Coast…..and it was terrible! Wish me luck on a 9 hour+ plane trip.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 17, 2014 - 2:43 am

    Hi Gayle

    There's heaps to consider when taking out income protection – and the policy needs to be tailored to your individual circumstances.

    I'd consult with a decent financial planner about it.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 14, 2014 - 9:33 am
    SuperZiyue wrote:
    Jamie M wrote:

    haha – not this Winter. I'll be working from the Amalfi Coast in July :-)

    Cheers

    Jamie

    Amalfi Coast: Not a bad place. Just good luck for the 20-hour flight with your 1+ year old kid… ;-)

    haha – you got me there! I'm actually quite worried about it. Going to NZ was hard enough- I don't know how we're going to go with the flights to Europe, especially since she doesn't sit still for a second :-(

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 14, 2014 - 9:30 am

    Hi steve

    Welcome aboard :-)

    What do they do? How are they paid? How do you benefit?

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    March 13, 2014 - 10:33 pm

    There was a good summary article on the do's and don'ts to get a good credit record on a broker site the other day – http://www.accreditedbroker.com.au/knowledge-portal/articles/555-dos-and-donts-to-get-a-good-credit-record

    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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