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Jamie Moore
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@jamie-m
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Post Count: 5,069
June 3, 2013 - 8:09 am
Hi Ck
Welcome aboard.
Here's some old threads from a quick search that I done that might help.
https://www.propertyinvesting.com/forums/property-investing/help-needed/4338826
https://www.propertyinvesting.com/forums/property-investing/help-needed/4332065
https://www.propertyinvesting.com/forums/property-investing/general-property/4328198
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 3, 2013 - 8:05 am
RobertoH wrote:
We've been looking at a property that we think is nearing the end of its listing (nearly 90 days) – without any serious interest.
What implications does this have for us as a buyer? Is the agent more likely to pressure their vendor to accept a lower offer, in the hope that they will get a commission, and that the seller will get a sale?
Am I right in assuming that this works in our favour?
Hi Roberto
It might – but it's all speculation.
Is 90 days normal in this part of the world? If not, have a chat with the agent and ask about why it hasn't been snapped up and what feedback is he/she getting. Has their been any interest? Why are they selling – what's motivating them?
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]
Jamie Moore
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Join Date: 2010
Post Count: 5,069
June 3, 2013 - 8:01 am
adam.p wrote:
Thanks Jamie. That's what I had in mind.
I just wanted to know if this is ANZ thing, not the same for all lenders.
Some lenders will say that they won't extend an IO term past a certain number of years – but in reality, it's something that can be worked around.
ANZ are a bit funny – they see changes such as reverting from P&I to IO as "credit critical" so ask for a new application to be submitted. There's been moves to change this – and I've been told that these sort of adjustments can be made in branch now, but I'm still reluctant to send my clients direct to a branch to have them fiddle with their loan accounts.
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]
Jamie Moore
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Join Date: 2010
Post Count: 5,069
June 3, 2013 - 3:57 am
Hi Adam
I wouldn't pay too much attention to it – in 10 years time, you should be able to set up another interest only period. If not with ANZ, then with another lender.
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 3, 2013 - 2:18 am
Hi Togaf
I've used this website to receive quotes from different trades – http://www.homeimprovementpages.com.au/home/index1
It's quite handy – you provide a description of the job and the replies usually come back quite quickly.
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]
Jamie Moore
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Post Count: 5,069
June 2, 2013 - 11:26 am
I'm with you – kitchen and bathrooms are a couple of big ticket items when it comes to value add. I'm not sure I'd be willing to spend too many dollars on external concreting.
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 2, 2013 - 11:24 am
From memory, I think Dan who has a simpsons character avatar is an accountant in your neck of the woods. Always a good contributor so would be worthwhile getting in touch with.
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 2, 2013 - 11:21 am
daniel vic wrote:
i cant find no one interested to share storys , tips or knoglege with me
[/quote
Hi Dan
Welcome aboard.
You've come to the right place. Everyone on the forum shares at least on thing in common – an interest in property investing.
Stick around and contribute – most of us don't bite
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]
Jamie Moore
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Join Date: 2010
Post Count: 5,069
June 2, 2013 - 9:43 am
Hi w8up
where are you located? Sounds like you may benefit from speaking with another accountant.
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 1, 2013 - 7:58 am
Link
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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Join Date: 2010
Post Count: 5,069
June 1, 2013 - 5:58 am
No worries Shaun – best of luck
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 1, 2013 - 5:56 am
Terryw wrote:
you can keep the.money for another year
Just don't blow it! Work out how much the CGT will be and don't touch it – place it somewhere where it's either saving/earning you money for the year.
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 1, 2013 - 5:53 am
Agree with Terry – if this is going to become an IP in the future, then take out a larger loan and drop your remaining funds into the offset.
When it becomes an IP, you move those funds out of the offset onto your next PPOR. Here's an article I wrote for API magazine that explains the concept.
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]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
June 1, 2013 - 12:23 am
Hi Chetnik
I don't know of any.
What's the main goal with this loan?
Do you want to simply pay it off as quickly as possible? If so, set it up as P&I and pay as much as possible into the loan. Also set up an offset against the loan and have your income(s) paid into the account.
If there's another goal – like turning it into an IP at some point, then repaying on a P&I basis will be detrimental – as will using such a massive deposit.
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]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
June 1, 2013 - 12:19 am
Hi and welcome aboard.
These threads might help
https://www.propertyinvesting.com/forums/getting-technical/legal-accounting/4323940
https://www.propertyinvesting.com/forums/getting-technical/legal-accounting/4337391
https://www.propertyinvesting.com/forums/getting-technical/legal-accounting/4329336
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]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 31, 2013 - 8:56 am
Hi and welcome aboard.
The state the property is in will determine whether duty will be triggered again.
In any case, this is a scenario that you'd want to discuss with your accountant – let them know of your intention to sell the property within the next few years as well.
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]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 31, 2013 - 2:27 am
King_Of_Ling wrote:
I'm in Bendigo Victoria, I did have a local looking after me but am open to suggestions.
King.
Try James from House of Wealth in Melbourne http://houseofwealth.com.au/contact-us/
You won't have to commute if you'd prefer not to – I've had mutual clients set up online/skype meetings with him.
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]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 31, 2013 - 1:16 am
OK – definitely need to have your accountant crunch the numbers for you to work out your best option.
Where are you located? If you don't already have a good accountant, you might find some useful recommendations here.
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]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 31, 2013 - 12:35 am
Hiya
Is it a principle place of residence or an investment property?
If the latter – there may be CGT payable on the sale so you'll need to work out how that would effect you if sold this FY or the next. Best to sit down with your accountant to crunch the numbers.
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]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 30, 2013 - 10:31 pm
LVR, serviceability, employment history, amount of debt, security type and credit file are all big ones.
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]

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