Well only $99,500 when you take into account that $500 fee that they saved on

Cheers

Jamie

It's possible to arrange from a distant. You can appoint a project manager – or if you've got a decent property manager that's up to the task, you could ask them to help out (they'll expect some sort of payment which is to be expected).

Otherwise, I've had plenty of clients who fly to the property and spend a few weeks coordinating the work.

Cheers

Jamie

Hi Tom

No – I don't think it's realistic. Not in a market where's there's plenty of competition. In some market at the moment – buyers are offering more than asking price!

Cheers

Jamie

It's fair enough. Isn't amazing how that sense greatly improves over time!

Cheers

Jamie

Hello again

Nope – not based in Melbourne but that doesn't matter providing you're ok with email/phone contact. In fact, most of my clients are based interstate – including many from this forum.

My only initial concern here is that there's not a lot of equity available. If your current lender allows you to borrow up to 90% of each properties value you'd be looking at a possible equity release of $16k against the first property and $0 against the second -which is probably not going to be enough to do anything with in terms of another IP purchase.

I also wouldn't look to use any savings right now – best to keep that $12k for a rainy day.

Cheers

Jamie

Sorry – I missed this last post. You can choose your broker from anywhere in the country. Everything is done via email/phone these days. 

So choose someone you'd feel comfortable dealing with and get in touch – I assume we're all taking on new clients at present.

Cheers

Jamie

Hi there

Personally – I'm not a big fan of one beddies. The yields aren't usually as strong compared to a two beddie unit – and the body corp fees can relative to the rent can be quite high.

If it's less than 50m2 then there could be some limitation when it comes to arranging finance.

Cheers

Jamie

Spot on – it's about maximum flexibility, future planning and being in total control of your finances. For some people it's difficult to get their head around the concept – and it's understandable, the idea of not paying down debt as quickly as possible can seem quite strange. But providing you're making contributions to your offset account – it's essentially the same thing albeit with a number of big benefits.

Cheers

Jamie

Congrats Steve – looking forward to it.

Cheers

Jamie

Not necessarily. Some people take comfort in paying down debt. Personally, if it were me – I'd keep everything IO and pop an offset against one of the loans. All of my spare cash/income would get paid into that offset. It provides me with greater control and maximum flexibility.

It's important that you're disciplined with money when it comes to this structure though. Otherwise you might simply make the minimum IO repayments and not put any money in your offset. If that was to be the case, then P&I can be a better option because it's a forced method of savings in a way.

Hope that makes sense.

Cheers

Jamie