Hi AdisKay,

$1,500 per week or per month? Also is that net or gross?

Regards

Shahin

My comment was a bit obnoxious but I am not a fan of biased advice!

So a buyers agent charges more but is completely unbiased in the investment they refer whereas this company only refers properties that they are paid commission? I know which one I would be choosing!

Regards

Shahin

lol he is the middle of renovating – its hardly an ivory tower!

Hi Astroboy,

Have you considered using a buyer's agent? 

Regards

Shahin

I am in the process of buying a property for my personal portfolio at 88% lend. LMI is tax deductible. I have several clients (surprising 2 from Sydney) who have purchased in Fairfield due to its close distance to the CBD.

Hi Wayne,

Firstly I think you are referring to Westpac and if that's the case then they reduced their 3 Year Fixed Rates yesterday to 5.69%. Secondly, Fixing your loan is more about risk management than anything else. Anything with a 5 in front of it is a fantastic great. The cheapest over the 10 years was Westpac's Fixed rate of 4.99% which…[Read more]

This is why I am saying that you can set up a seperate loan against your PPOR (this is not cross securitising) and this loan should be either a fixed or variable loan but not a line of credit (for what you are doing). This way the interest is not cross contaminated when your accountant does your tax. The interest is caulcated against this single…[Read more]

Hi John,

Get your broker to run an upfront valuation for you. Its either cheap or free depending on the lender. Also try and order it through the lender that you are looking to get finance with. Again most lenders offer upfront valuations.

Regards

Shahin

Hi MMB,

There is no question about the fact that you should have landlord insurance. I had a bad experience within one of my properties and the property is based in Sydney's north shore (affluent area) and the property was worth $950k. It was severely damaged by the tenants and if it wasn't for the landlord's insurance I would have been in a lot…[Read more]

Call him and give him the brief (hopefully you have a brief when meeting either the draftsperson or architect) and get him to give you a free quote. Let me know you do. 

Disclaimer – Phil is my architect but he is also a friend of mine. 

I use Phil Waters – I havent heard of the residential logisitics guys, how much are they charging you?

Regards

Shahin

Hi John,

You have a 20% deposit – is this based on a purchase of $360k or $400. If you purchase a property for $360k and its worth say $400k then the bank will take the $360k as the value of the property (if not less if there is something blatanly wrong with the property). This need pushes you into LMI territory which is another ball game. You…[Read more]

Hi Foxhouse,

Why are you funding the second loan with a separate bank? Is the decision rate based, or another reason?

You need to certainly open a separate facility against your PPOR but why are opening a line of credit and not a standard Variable or Fixed product?

Sorry one thing – not sure why the lender is offering you those rates but they…[Read more]

Your broker will be able to tell you how much you can borrow across different lenders (different lenders lend different amounts). Based on some conservative assumptions, you can borrow well above $500k.

Regards

Shahin 

It included everything except for driveway, landscaping, fencing and retaining walls.

Regards

Shahin

Ok would be interested to see how you went so either PM or email me.

Regards

Shahin

Hi Bugeye,

Yes there is nothing stopping you from purchasing a property and renovating it and then using the equity built within the property to fund for further IP purchases. You need flexibility in your loan structure in case you need to move lenders. This means a variable IO with linked offset. 

One important question – are you doing the…[Read more]

Hi Costas,

I can't give you advice but I can give you my 2 cents for what its worth.

I have a few investors who have purchased in Noble Park and they tend to look at the North /North East areas. They also look at properties that are within walking distance to the station.

Not sure what your definition of a solid investment is. Does it have a…[Read more]

Hi Nathan,

I can send you an APM report which is similar to the RP Data reports – just PM me your email.

Regards

Shahin