Yes that is true Derek, maybe I should bring the printed out strategy report from the JDL strategies to the other mortgage broker to see if they can perform better (hopefully it shouldn’t offend any people involved).

Here’s the additional Fees and Disbursements that I must pay on top of that $8500 (this comes from the jdlfinanceaustralia.com.au…[Read more]

@Derek: The JDL Fee is as follows:

Commission $8700
GST $870
Less Initial Payment $880 (the joining fee)
so in total is $8690

Which will be counted as “costs” for the purchase of the property investment and financed as such. THerefore I do not need to pay upfront with cash in order to proceed (because it is capitalized on top of the loan so they…[Read more]

ok, can anyone here share what we should be asking to the mortgage broker before we sign the deal with them ?
I’m curious to use mortgage broker to find me a good loan for my IP rather than visiting the Big4 personally myself.

Terryw wrote:
Before you sign make sure you do your research as those fees are large.I think part of the fee may be deductible upfront. Part of it would relate to borrowing cost and so could be claimed over 5 years. part would be buyers agent type fee for locating the property and this would be claimable against CG when sold and then part of it…[Read more]

Terryw wrote:
Henry,From your initial post I thought there was 1 fee, but it appears there are acutally 2?$880 joining fee and a $8700 fee. Is that correct?

Terry yes, I’ve just received the Preliminary Strategy Report which is a detailed transaction of what I should do to secure the retirement, so it seems that they have arrange everything…[Read more]

Terryw wrote:
Yes, financially you would be better off by renting out your unit and renting the one next door. But this would be dependant on the loan amount etcThis is because if your property is negative geared then you can claim any loss against your income and will save tax.BTW, it is still possible to rent out your home and have it CGT…[Read more]

Terry, thanks for the respond, yes you got me thinking now if that joining fee $880 can be tax deductible or not.

Derek wrote:

Portfolio PI wrote:
If it is tax deductible then you will get back your tax rate on that amount. so if its $8700, and you are paying 37% tax, you will receive 37% back at the end of the financial year if it is a tax deduction.

Cannot see how the fee is deductible – at best may be able to be used to offset future capital…[Read more]

Derek wrote:
Hi Henry,On limited information supplied some of the following may not be relevant.Coomera is one of those new release suburbs (has been for a while) and with more land to come. AT best I would imagine rent return would be around 5% so you are out of pocket for rates, insurance, body corporate (if relevant) and the net differential…[Read more]

Yeah, I also signed up already with JDL recently after paying $880, and now their investment strategy is to get a property in COOMERA for $435k while charging me once off $8700

When I ask them about how can I gain profits if they charged me $8700 in front ?
their answer is by hoping that the building depreciation can give you more than $10k…[Read more]

Jamie M wrote:

ksherwell wrote:
I recommend having a shop around.  

Be careful with this though. What most people don’t realise is that “shopping around” can result in multiple hits to their credit file if each lender is submitting an app. A few hits in a short period of time will start to make lenders nervous.

Cheers

Jamie

Why is this…[Read more]

Andrew_A wrote:

Henry Adams wrote:

Andrew_A wrote:
This area is a minefield of marketeering, so need to do your research even more carefully than normal. Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that…[Read more]

James and Gurjjeet, many thanks for the reply and suggestion, you are right I feel that this JDL Strategies has misled me to buy in this area for CG purpose

Terryw wrote:
$8,500 is a very large fee! ( i will do it for $8,000 whatever it is).However, if you are happy to pay this, and it does relate to an investment property then it would be far better to borrow it (in terms of tax) then using cash as the cash can come off non deductible debt first.However, by borrowing it how much extra is the LMI…[Read more]

Catalyst wrote:
$ 435.000 2 bedroom 1 Bathroom 1 garage.  In Coomera???   LOLWhy would you???

Is that too expensive for now ?

I wouldn’t have a clue as I’m in NSW

itsandrew wrote:
It's interesting too Henry that the median price for units is only 339k. (Domain.com.au says 310k).  Big discrepency to 435k.  There would need to be good reasons that the price being asked is worth it.  Check out domains info here ht…[Read more]

Andrew_A wrote:
This area is a minefield of marketeering, so need to do your research even more carefully than normal. Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that all look like each other, though if…[Read more]

Hi,

When you have a look at this report I wonder why Coomera is still going down: http://www.investsmart.com.au/property-research/QLD/4209/Coomera.asp

I’ve been recommended by the team at JDL strategies to buy 2 bedroom Unit in Coomera for $435k in this suburbs for the reason of best for capital growth eventhough the Capital Growth is going down.

jsoohoo wrote:

gurjjeet wrote:
Hi Everyone I am in process of buying my first IP in Coomera. I have finally taken my first step after 6 months of confusion etc. & right now I am in cooling off period of contract which is making me write this query. I would appretiate some help. I am buying a near new 4 bedder house on small land (around…[Read more]

tonywwp wrote:
………….. I recently bought a 2yr old 3 bdm house in Coomera QLD that was listed at $429k … I offered $360k and got it.. this way you build equity into the purchase early on.

Regards
Tony Born
Senior Mortgage Consultant
Member PIPA
Email: tony@wealthwithproperty.net
Mb: 0407 617 141
Ask me about a free Property Investor…[Read more]