I am wanting to buy my first IP which will be positive cash flowed
I am in need of help of what type of mortgage I should be looking at and for how long. There are so many options out there and I don’t really want to just take the banks advise.
Also with house insurance. Am I better off not going with the bank I decide to borrow from. So they don’t have all the control.Hi Dan
Without sounding biased – speak with a decent broker about your options.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Dan
Jamie is the right man to talk to about your options.
For positive cash flow properties you can’t go wrong with an Interest Only loan + an offset account.
Andrew
superAndrew | Property Analyser and Finder Tool
https://property-analyser.com.auA +1 for a knowledgeable broker. They wont (shouldn’t) show bias towards a particular bank or product and will find a solution to suit your needs now and for in the future.
Generally investors have an interest only mortgage that will allow them to maximise their tax deductions by not reducing the principal of the loan and assist with cash flow to enable them to purchase more properties if they wish.
As far as insurance goes – have a read of the PDS to know what you are and are not covered for. Generally I’ve found insurance policies that the banks offer a not all that favourable for landlords. There’s some specialist LL insurers out there like EBM and Terri Scheer that would be worth looking into as well but they may not cover building so you would have to source that elsewhere.
Kinnon Bell | Kinetic Funding
http://www.kineticfunding.com.au
Email Me | Phone MeMortgage & Personal Loan Broker based in Cairns and Melbourne but servicing clients Australia wide.
Thanks for the heads up Jamie and Andrew I currently have been looking for a descent broker.
Cheers kinetic for your helpful reply much appreciated.
Regards Dan
Where are you located Dan?
Do you need face to face contact? If not – you can choose any broker in the country. If you do need face to face, then the forum might be able to recommend some locals for you.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I’m in Melbourne Jamie. Yes defiantly after someone face to face. I was just on your website a moment ago.
Nothing needs to be face to face these days, from online dating to broking and accounting, choose the best provider as the local provider may not be the best.
Cheers, Ivan
Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
http://redwoodadvisory.com.au
Email Me | Phone MeSMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS
I’m in Melbourne Jamie. Yes defiantly after someone face to face. I was just on your website a moment ago.
Haha – my website photo didn’t scare you off did it?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Nothing needs to be face to face these days,
What about hairdressing?
I bought a hair cut over the internet and it didn’t turn out too well.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
My business partner is based in Melbourne so let us know if we can help.
Have a look at our website and you will see which one of us is the better looking.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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