We rarely suggest pre-approvals as necessary or beneficial to the client, except in specific cases. In the industry they are known as sales tools more than a protection to the client – quite a few were voided across a number of lenders with the recent changes in lending rules.

Are you offering subject to finance? Get your broker/an investment savvy broker if you haven’t already to review your financial situation to ensure there isn’t any obvious issues and take it from there.

You’ve been in casual employment for long enough for this not to be an issue – have a lot of casual employees in our client list who have built strong portfolios.

It’s a reality that more and more of the population is moving to casual employment, and lenders policies have slowly been moving to recognise this.

Numbers are fairly accurate, you would want to be estimating at a higher interest rate considering the current rock bottom rates aren’t indicative of long term averages.

In reality I wouldn’t be bothered with an ex-HT in Salisbury North, you’re looking at the bottom of the barrel for tenants in the area, whereas for a marginal amount more you can buy a fully detached property at a similar or even higher yield.

That particular one was 2.5k for cabinets + handles. 2Pac cabinetry, soft close drawers blah blah.

Rangehood was $120, installation $660.

Splashback was $80 for tile, glue and grout. (it’s nice to get out of the office occasionally and get on the tools) If you were that way inclined and had some spare time, installation for these kitchens is quite simple, all carcasses are pre-assembled and doors predrilled – adult version of Lego.

The loan is most likely principle and interest (especially as you have said its a fortnightly repayment, interest only is generally monthly ONLY), so even though you are being charged less interest, the minimum repayment figure is still being debited. This just results in the principle decreasing at an accelerated rate as there is a lower than expected interest charge.

• This reply was modified 9 years, 3 months ago by  Corey Batt.

ONLY the interest.

Generally we structure investment loans to be interest only, that way you can use the funds which would otherwise be used to pay the investment loans principle to pay down your OWN non tax deductible home loans. This increases deductibility, reduces your home loan faster.

Really depends, usually 3-5k for a basic kitchen.

I’ve personally been using a supplier for all my Adelaide properties for a couple years now which generally come between 2-2.5k for a kitchen, valuations always come up a treat. This is one from one our recent renovation projects, came in at 2.5k for the kitchen:

Only if your LVR will permit, they don’t just hand out money willy nilly.

IE if you’re only eligible for a 90% LVR and the purchase price was 500k, the maximum loan you could achieve is 450k.

What’s the purchase price, and your deposit?

Indeed – a lot of my clients use BPI for their inspections, haven’t heard anything other than positive feedback from their experiences.

I’ve used them myself for some of my latest purchases and they’ve been quick to act, which is important when dealing with tight schedules.

Realistically 90% LVR inclusive of LMI is a great option for IP purchases for as long as possible (unless the person has excessive amounts of deposit funds available for a large portfolio expansion).

Unlike 95% LVR’s which are getting nigh on impossible, the costs of a 90% LVR are significantly cheaper AND allow you to draw any available equity growth quickly as most lenders will only allow topups to 90% LVR max. The ability to draw out equity gains early on is especially important for those early in their investment career, where they are scraping together their deposits where possible.