No probs :-)

1) You can claim the cost of stamp duty against your income. You can do this during the financial year that you make your purchase. So if you purchased a property this financial year and the duty was $20k – then you’d claim that $20k as a deduction when you do your 16/17 tax return. However – all investment properties in…[Read more]

No probs :-)

1) You can claim stamp the cost of stamp duty against your income. You can do this during the financial year that you make your purchase. So if you purchased a property this financial year and the duty was $20k – then you’d claim that $20k as a deduction when you do your 16/17 tax return. However – all investment…[Read more]

@Jamie, could you please clarify ‘You can claim stamp duty in the first year of ownership – but the downside is that there’s land tax.’ and highlight the differences between NSW and Canberra.

‘Preferably in established areas – and if funds allow – close to the CBD (inner North and South).’ Can you suggest some suburbs…[Read more]

Cheers

Jamie

@Benny, @Jamie, Are you investors?

I was when I was using Nick – now semi-retired, but still interested in property…. You never know what might suddenly pop up. ;)

Benny

@Terry, thanks for your examples, great to know the insights before delving in at the deep end.

@Alistair, good article, learning heaps from you guys.

Cheers

zen

Cheers.

Thanks Terryw, appreciate your comment.

I’m in the process of purchasing my very first IP to be settled in August and will get a depreciation schedule done before tenants move in and give to accountant after July 2017 I presume? Enjoying the process and…[Read more]

@jamie
Hi jamie im looking to buy in brisbine

This isn’t the 1 weeks rent+gst for “finding the tenant” this is a new fee that I saw an agent trying to introduce for 1 weeks rent for “renewing” the lease + the $33 lease prep fee.

So basically for “coming up with the renewal price” and 20-40mins spent calling the tenant asking them to resign a new…[Read more]

@Jamie, looking at 3 different agents for 3 cities. Also a mortgage broker as well as my banker in HK said the bank we have been using may stop offshoring loans in the near future.

@JPfinancialgroup – can you private message me?

@Redwood – our strategy is very simple, buy and hold. I would like to buy within 10kms of CBD.

I would…[Read more]

Thanks for your response.

We haven’t discussed yet on the loan structuring; it was a very preliminary discussion to understand my limits with further borrowing.

Thanks for your suggestion; will certainly get further opinion.

A good financial adviser would look at your whole situation. Not just try to find you the best loan like a mortgage broker.  
@Jamie M – true, however on the flip side, I highly doubt a mortgage broker would ever advise someone not to take out a mortgage… where does their income come from? and a Mortgage broker cannot give any…[Read more]

A good financial adviser would look at your whole situation. Not just try to find you the best loan like a mortgage broker.  
@Jamie M – true, however on the flip side, I highly doubt a mortgage broker would ever advise someone not to take out a mortgage… where does their income come from? and a Mortgage broker cannot give any…[Read more]

@wilko1 – good point, you will only learn by making mistakes and grow from there. You sound quite experienced, I would like to know what your biggest issue these days…[Read more]

@Shahin – I still consider investing on areas near I live (Liverpool, west Sydney). If the numbers are better interstate, I'm keen to go ahead with that too. Cheers!

@Jamie M – BA is at the top of my list if i am to invest interstate. I am focusing on research…[Read more]

@Jamie – The cash is only for the initial deposit, not to purchase outright.

OK – have a chat with your broker/banker about the cost/benefits of using a larger/smaller deposit on each purchase.

Personally, I'm a fan of using smaller deposits for IPs and leveraging more of the banks money. But everyone's circumstances are…[Read more]

Thanks for your responses guys!
@RPI are there more options than just investing in your name? Setting up a company?
@TFS – Thinking of a diverse range of IPs. Start off with 1 new and and then 1 old (or vice versa). Overall strategy is buy a couple of properties, ride out the current slump, and then buy a couple more in 5-7 years.
@Jamie…[Read more]

Cheers

@Jamie M – what finer details would you like me to reveal? I'd be more than happy to do so for if you can assist in fine tuning the application.
I'm married and my research tells me to perhaps…[Read more]

@Jamie M – what finer details would you like me to reveal? I'd be more than happy to do so for if you can assist in fine tuning the application.
I'm married and my research tells me to perhaps take out the loan in…[Read more]

@ Scott: company will issue me a work car and knowing my company they will not accept Novated lease unless I am manager.

@Jamie M: Yes Emerald will become interest only IP.

I can't use any equity from any of my IP because they cross -coll and Narangba house is locked for 2.5 years now on fixed term. Scott suggested…[Read more]

@TheFinanceShop: Im calculating the equity:

Property 1 – Worth ~$300k, owe $260k on it = $40k
Property 2 – Worth about $320k, owe $300k on it. = $20k
= $60k equity correct?

From what i have read banks will let me use 90% of that? So is that a straight $54k I can knock off a required deposit for the new…[Read more]

If you haven't purchased or lived in a property that was your PPOR during this time, then I can't see why not.CheersJamie