All Topics / General Property / Fix Rate or Variable Rate

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  • Profile photo of noraasnoraas
    Member
    @noraas
    Join Date: 2005
    Post Count: 3

    Hi everyone:)

    Do you usually get IO loan for all your investment properties? How about fix & variable rate? Is it a good idea to split to half?

    Do you know how to qualify a building inspector to do the job?

    Many thanks wonderful people.

    Profile photo of ian_from_brisbaneian_from_brisbane
    Member
    @ian_from_brisbane
    Join Date: 2003
    Post Count: 97

    In my opinion, you’d be silly to spend 10’s or 100’s of thousands of dollars without first spending a few hundred dollars on building and pest inspections.

    Personally, I prefer (fixed) interest only loans… but it would depend on the town… I’d only do it if the town were well established and not likely to shrink in size.

    -Ian

    Profile photo of Sue69Sue69
    Member
    @sue69
    Join Date: 2005
    Post Count: 5

    Hi Nora,

    It is dependent on your personal position and goal, for me I would want the higher yield through leveraging my dollars to my advantage eg IO loan whcih of course you can fix or do a split fix and variable.

    Re the inspections, constantly amazed that people will buy property and wonder about whether to get due diligence reports. For me it is a must, I want independent advice and will never rely on tainted advice such as the r/e agent. Get your own independent advice and ensure the person is licensed and insured. There is a cheat sheet on the following website under useful info on what to ask an isnpector if your are not sure on how to qualify inspectors(www.opr.com.au).

    Hope that helps.

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