Hiya

Perhaps looks at having your structure/borrowing capacity looked over by a decent broker.

Having said that – much has changed in the last year when it comes to borrowing capacity assessments (it’s now harder to get a loan if you hold multiple properties).

Cheers

Jamie

The offset is just a bank account – you can transact from it whenever you like.

Cheers

Jamie

What’s a lead generator exactly?

Hi Andrew

Plenty on this forum.

Read up on their posts – call a couple and see who you gel with.

Doesn’t have to be a local one if you’re happy to deal via email/phone.

Cheers

Jamie

Personally – if it were me – I’d look to diversify rather than have a cluster of cheaper IP’s in a regional area.

Cheers

Jamie

I wouldn’t.

If selling a property – then yep, it can be worth it.

For renting – I wouldn’t bother. It’s a cost that can be avoided – and I doubt you’d command more rent by doing so.

Cheers

Jamie

Do you need face to face?

If so – Pete Tersteeg from Sage Lending is a good broker.

If you don’t require face to face then you’ve got the entire country to choose from.

Cheers

Jamie

1. You pay stamps on the land (assuming it’s two seperate transactions – that is, a contract for the land and a contract for the build).

2. Talk to a lawyer. This can be quite risky.

Cheers

Jamie

Terry above his a lawyer- might be worth seeing if he can assist?

Cheers

Jamie

Currently getting 4.37% for clients – but your broker may not have access to that rate. It’s for a limited time too – so might not be applicable once you find your IP.

Cheers

Jamie

I’d use the redraw funds purely for investment purposes – otherwise you’ll lose deductibility.

If the plumber is for your IP – then I’d assume that’s an investment expense but you’d need your accountant to confirm

Cheers

Jamie

Hi Jon

It’s possible – but not all lenders will be comfortable with this approach as there’s no way they can guarantee that the funds won’t be used for something else.

The majors should be ok with it.

Cheers

Jamie

Get it sorted now.

If you’re relying on equity from an existing property so fund the deposit – then ideally you’d want to have those funds ready before you start looking for your IP.

Cheers

Jamie

Nice try Shelley.

Hit up DT above.

Cheers

Jamie

Hit up Richard – he’ll do a good job.

Cheers

Jamie

Most of my investor clients still opt for IO – unless they don’t have a PPOR/non deductible debt then P&I might be a good choice.

Having said that – there aren’t many lenders that penalise you for having IO repayments (NAB group are an exception rather than the rule).

Cheers

Jamie

Depends on how diligent the valuer is I suppose – some might not realise/mention it whilst others will.

Cheers

Jamie

Check out Herron Todd White’s month in review on line – it usually does a good job of illustrating where capital and regional markets are at.

Cheers

Jamie

Hi Luke

To avoid LMI on an IP purchase you need to contribute a 20% deposit and enough funds to cover purchase costs (stamp duty, etc).

That 20% deposit and costs can either come from:

– Equity that is accessible in your current property
– Savings
– A combination of the two

If you don’t want to use equity in your PPOR – then you’ll have to…[Read more]

Hi and welcome aboard

The banks typically look at two main things – your borrowing capacity and deposit.

Your borrowing capacity may be ok (I haven’t crunched the numbers) but the deposit side of things may need to be worked on.

At present – there’s no equity in your current property that can be accessed. That could change in the future if it…[Read more]