JamesParnwell replied to the topic Mentor needed… in the forum Help Needed! 11 years, 11 months ago
I'd be happy to put you in contact with an Investment Property Coach I sometimes deal with. Sometimes you need specific advice for your precise situation!
JamesParnwell replied to the topic Accountant and Broker in the forum Help Needed! 11 years, 11 months ago
I have clients all over the place, one was even in Qatar! Most of the paperwork can be pushed around via email and meetings can be held on the phone or skype. It's the way things work these days!
JamesParnwell replied to the topic Renting while investing in property in the forum Help Needed! 11 years, 11 months ago
I'm increasingly seeing people opt to rent and invest rather than buy a home to live in. The dollars just stack up better. However, I have noticed a trend to towards people purchasing a brand new home to live in as their first house and getting both the FHOG and new Home Benefits about $20k in NSW. Then they move out after the compulsory 6 months…[Read more]
JamesParnwell replied to the topic Finance for vacant land in the forum Finance 12 years ago
This looks pretty straight forward, I often take deals like this to Suncorp!
JamesParnwell replied to the topic First Home Purchase-Live In Or Rent? in the forum Help Needed! 12 years ago
Hi Coota,
I am a mortgage broker and i've found that a lot of people are buying investment properties and renting first these days. It can often work out that the rent received, tax deductions and savings when comparing rent your PPOR compared to paying repayments on a loan make renting and investing better. In fact, I have seen people pass up on…[Read more]
JamesParnwell replied to the topic Property investment in Sydney western suburbs… in the forum General Property 12 years, 1 month ago
Hey Geeta9,
I'm a mortgage broker and i've had several clients have a fair bit of success in Jordan Springs, a new development near Penrith. They are all cash flow positive. Here are their case studies if you are interested?
http://investmentproperty-howto.com.au/jordan-springs-case-studies/
Here is a market overview as…[Read more]
JamesParnwell replied to the topic Starting Out Tips in the forum General Property 12 years, 1 month ago
Hey Patch,
I wrote an article on buying your investment property before your own home. It is certainly an option worth considering. I work as a broker and I'm finding more and more people investing in property and renting for their place of residence. Here is a link to the article… http://investmentproperty-howto.com.au/5-reasons-buy-investment-…[Read more]
JamesParnwell replied to the topic Should I use property investment advisors? in the forum Help Needed! 12 years, 1 month ago
I'm a broker and have dealt with good and bad property investment advisors. The warning signs are whether they are pushy or not! Most of them get paid commission for selling you a property, however the good and ethical advisors know that helping you make money through investment is the best way for them to have an ongoing relationship with you and…[Read more]
JamesParnwell replied to the topic Property investment in Sydney western suburbs… in the forum General Property 12 years, 1 month ago
Hi,
$300,000 is the very bottom of the market. I live in the Hawkesbury area, NW Sydney. You won't find many properties at this price in the Hawkesbury region. Penrith and its surrounding suburbs may present you with some opportunities? Try Werrington, Cambridge Gardens, Cranebrook. Here is a summarised market overview I put together for Jordan…[Read more]
JamesParnwell replied to the topic Investing into Display Home with 7% – 8% leaseback for 2 – 3 years in the forum General Property 12 years, 1 month ago
Finance can be very difficult to get for a Display Home. Many lenders exclude them completely!
JamesParnwell replied to the topic Fixed Rates Falling in the forum Finance 12 years, 1 month ago
At the moment it is pretty clear that rates are heading down! As a mortgage broker I keep an eye on the fixed rates to see if interest rates are on the move. At the moment it seems they are! Here's a more detailed article I wrote on the topic!
http://investmentproperty-howto.com.au/interest-rates-are-going-down/JamesParnwell replied to the topic Units – How do they stack up? in the forum There are certainly pros and 12 years, 1 month ago
There are certainly pros and cons to buying houses and units. I had a guest blogger write and article about the cultural shift Australians have had from owning the quarter acre block to living in units. It might be helpful? http://investmentproperty-howto.com.au/cultural-shift-investment-property/
JamesParnwell replied to the topic RBA Report Into Interest Only Loans in the forum Finance 12 years, 2 months ago
Yes, 100% loans were common prior to the GCF they disappeared late 2008! I doubt they will ever be seen again, at least I think they are a bad idea!
JamesParnwell replied to the topic RBA Report Into Interest Only Loans in the forum Finance 12 years, 2 months ago
Hi,
Yes 100% are a thing of the past! the disappeared about 4 years ago when the GCF started to take its affect. There have been many changes as a result of the GCF. The Interest Only idea is indeed interesting
I am a broker and there is now a much higher onus to demonstrate to ASIC that the loan you are giving someone is in their benefit. If…[Read more]
JamesParnwell replied to the topic How to buy a second investment property in the forum General Property 12 years, 2 months ago
Hi Sam,
A fixed loan won't get in the way with whether or not you can service another loan. Your plan of fixing a portion and leaving some variable is usually a pretty good strategy. Fixed rates are low at the moment when compared with the past 10 years, so the odds are in your favour!
The guys above are giving you some pretty strong advice!…[Read more]
JamesParnwell replied to the topic Hotspots or Warmspots? in the forum Help Needed! 12 years, 2 months ago
Hi,
I am a mortgage broker and have had some clients invest in the Ipswich area west of Brisbane. They have seen some very poor results, one client purchased about 2 years ago for $370k and went to refinance last month and had the valuation come in at $290k. Ipswich isn't Toowoomba, however their proximity may be a caution for you?
I have one…[Read more]