Have you spoken to a finance person yet? What made you think that you can’t qualify for a loan now and have to wait for two years?
Just curious that’s all.
A few lenders have become a bit loose with self employed borrowers, and with the lending industry fighting hard for each applicant, I’ll be surprised if you really have to wait…[Read more]

We can send you a residex report that you can use as a guide for comparable sales around the area. Just message me the address of the property.

Cheers!

Keep educating yourself. Keep asking questions. Everything is difficult before it is easy.

Cheers!

You will find most of the answers to your questions if you just browse around the forum. Just spend a bit more time and you will more than likely find what you want to know.

Not knowing your current financial situation, I can say you are losing quite a few amount in tax incentives with the way your finance structure is set up. You…[Read more]

Welcome to the forums. Have fun learning and sharing info with us.

1.) IO is always advisable for IP loans as this maximizes your tax deductible debt. Holding properties for the long term is also good advice but you need to learn to let go of under performing assets as well.
2.) You need to ask more questions to your “club” or provide…[Read more]

The rates (water, council, body corp fees (if strata prop))
Property Management Fees
Insurance
Maintenance Costs
And always add a cash buffer to prepare for unexpected expenses (1 or 2 weeks rent)
Etc.

Make sure you add all expected expenses to your calculation and allow for the unexpected costs as well.

PS.
If…[Read more]

Cheer!

Shaun,

Good on you for asking those questions first before doing anything. Just keep reading…[Read more]

Every time a property is being purchased with a mortgage, the lender will send in their own valuer for their own security. This can be a desktop valuation, drive-by or full valuation. Nothing’s stopping you from getting an independent valuation but bear in mind that the lender will honor their own valuer’s report. If there’s a really…[Read more]

I personally have not been to a MAP session or have used Nathan’s BA services so I can’t say much.
For me though, a one or two hour MAP session is not enough to answer all my questions in property investing. They will apparently work out a good investing strategy for yourself and it have probably worked for a few or all of their…[Read more]

The growth started 2011-2012 with an average of 3.7%.
2012 – 2013 = 8% average
2013 – Sept 2014 = 14% average

Just some very rough numbers but it gives you an idea of the place.

Cheers!

Care to share your numbers? costs, yields, etc?

I personally have not used or have not even researched anything about any of these groups. From memory though, Bhatla has a really bad reputation and was talked about before. I have not heard anything anymore since then from this group.

Are you looking at OTP properties? Or newly established properties? Make sure you do your due…[Read more]

I apologise for the rather generalised response.
Increasing income streams could be one or a combination of these things, I just don’t know if you can consider this creative though:

*Focus on cashflow positive properties, lenders take rental income into consideration when determining your borrowing power.
*Connected to point 1, avoid…[Read more]

@wiwin – if its an internal refinance, most lenders don’t charge any fee. There really is not much benefit holding on to x-coll loans for a long period. he’s actually in a dangerous position now, if all goes south all of a sudden, he could potentially lose one if now all of the crossed properties.

Give Richard Taylor or JacM a call.. They specialized in the QLD area if Im not mistaken. Search them up here.
Or knightm from precium.com.au for NSW.

Richard Taylor
JacM
knightm

Cheers!

First, welcome to the forums!! Im sure you will learn a lot from here. :D

Regarding your situation, it is best to talk to your mortgage broker first regarding the borrowing capacity. They can tell you exactly how much you can afford, and how to structure your loans correctly that will suit your goals. This should be your first…[Read more]

*What the pros/cons are of interest only and offset accounts are
If for an investment loan:
– con = you will only be paying the interest portion of the loan and after the loan term, you still owe the bank the same amount.
– pros = you will only be paying the interest portion of the loan and effectively maximizing your tax deductible…[Read more]

@simondema
Campbelltown and most especially the surrounding suburb is going through gentrification. new developments are still ongoing in the area. for that…[Read more]

Without knowing the numbers, like his income for servicing purposes, he still have hope. Give Richard Taylor’s details to him as I know Richard do 100% finance option. Its just a matter of knowing if Peter can service it or not.

Is the landlord keen on selling the property though? People without deposit can be assisted using 100%…[Read more]

https://www.propertyinvesting.com/topic/4995222-new-investors-yale-property-solutions/

“Caveat Emptor”

Cheers!

Regarding a 1 bedder unit for 320k? Don’t you think its a bit overpriced? Your target market is very limited with 1 bedder.
What’s your due diligence telling you about this property? Have you confirmed the rent at $320k a week?

You are in very good hands with Jamie.

Cheers!

Loan 1 for Property A (Property A as security to Loan 1)

Loan 2 for Property B (Property B as security to Loan 2)

Linking an offset account to the non tax deductible debt is a must. Regarding the costings for these, it depends on a few things so best to give us more details…[Read more]

Cross Collaterising is basically giving more of your asset to the bank as security than what they deserve. You are giving them control over all the assets that is X-coll with them. If you want I can forward you an article written by my fellow mortgage broker about x-coll. It will tell you what you need to know regarding this method.…[Read more]

You’ve got the basic set up down really well.
Do you plan to buy more properties after this purchase?
Or are you just buying this PPOR now and then 8 years later get another as PPOR and convert this to IP so in 8 years time you are only looking at two properties is this correct? What is your goal? Why do you want to invest in…[Read more]

Be very careful and ask important questions before proceeding. First question would be the one highlighted by Benny, ask if your MB is planning to cross-securitise your loans.

You could potentially unlock $63,000 of equity from your own house which will be set up as a separate loan split from your home loan.
And then apply for another…[Read more]

After loan application, the file will be passed on to the credit assessors which will determine what type of valuation needs to be conducted.
Also, your broker can order a full valuation for you. You can also challenge the val if you really think that the valued price is incorrect. Just gather all the supporting documents to prove…[Read more]

Median price and average market value is not the same. Be careful not to get confused there.
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Cheers!

Just to add to Terry’s points, Trust can also be used by people on PAYG but in a high risk of litigation. Like people in the medical field.

To the OP,

Dave I hope you find these tips useful as well.

Just let us know how you go. If you have anymore questions don’t hesitate to come back here. Thanks!

To add to Richard’s points.
– look for someone your are comfortable with. People do things differently so once you have identified the “checklist” that you need in qualifying a member of your team, also look for people that you are comfortable talking to and someone that explains things to you in a way that you can clearly understand.

Kurtuk,

Apologies for the incorrect info there. All I’m trying to say is that Terry is awesome! :D

Cheers!

You questions and situation is all about tax. So get a property savvy tax accountant as mentioned above by Catalyst. A lawyer is needed if you require legal advices.

Let me tell you a secret… Terryw who just replied to you is a property investor, a tax accountant, a lawyer, and a finance person. I’ll definitely give him a call.

Cheers!

No one can really tell when would be the “right time” to sell as there really is no guideline stating that your decision of selling now is wrong and selling in 12 months time is right. This is due to the reason that no one can predict the future. You can however refer to historical data and see the trend of the area where your property…[Read more]