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  • Lachlan Keighery
    Participant
    @lachlank
    Join Date: 2017
    Post Count: 2

    Hi Guys,

    I have bought me 1st residential property about 4 months ago, I beleive I purchased undermarket value and Have seen a bit of Capital growth.

    Now Im trying to find good people to help me refinance cash out equity to buy more, a savy accountant and a tax advisor.

    Does anyone have any recommendations on people to speak with or better yet what I should be doing now?

    Profile photo of D.T.D.T.
    Participant
    @dtraeger
    Join Date: 2014
    Post Count: 128

    Hi Lachland

    Corey Batt is your best bet. He’s done all my loans and invests himself and he contributes info to these forums too. Reach him on [email protected]

    D.T. | DT Property Management
    http://www.dtproperty.com.au
    Email Me | Phone Me

    Adelaide Property Management - whole Adelaide metro

    Lachlan Keighery
    Participant
    @lachlank
    Join Date: 2017
    Post Count: 2

    Thanks Dt !!

    I will get in touch with him.

    Regards,

    Profile photo of BuyersAgentBuyersAgent
    Participant
    @knightm
    Join Date: 2005
    Post Count: 317

    The accountants that post a lot on here are some of the cleverest too – check them out.

    First: Revisit your goals – clarify your vision of where you want to get to. Write down your desired portfolio.
    Second: Pursue good finance and tax advice – to make sure your next steps are ok
    Third: Do the refinance as soon as you have enough equity
    Fourth: Purchase 2nd IP and try to repeat what worked (ie purchasing under market or into a rising market or with value add potential. Ideally all 3 of those things!)
    Fifth: Improve your ownership systems so you can handle more property. Make sure your property manager, other team members are all top notch.
    Sixth: Go back to 1 and repeat the process.

    BuyersAgent | Precium
    http://www.precium.com.au
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    South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,010

    Don’t get caught refinancing for refinancing sake.

    Look to go back to your current lender and do an equity loan.

    If the lvr was initially > 80% then you will only end up paying LMI on the increased loan amount.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Look to go back to your current lender and do an equity loan.

    Agreed.

    Your existing lender should be your first point of contact – look at ordering an upfront valuation first so you can determine how much equity there is to access.

    If the valuation comes in low then consider ordering another via a different lender- in the hope of getting a more favorable result.

    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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