It’s not just the big 4 – plenty of smaller lenders have followed their lead too.

Cheers

Jamie

Hi Sammy

Agree with Richard – the simple solution might to be a refinance to another lender with a more generous method of calculating max borrowing.

Do you have any personal debt you can reduce/consolidate in order to improve your borrowing capacity?

Cheers

Jamie

It just comes down to what you’re comfortable with.

With interstate – it’s just a matter of printing/signing/scanning/emailing documents.

Cheers

Jamie

Wise words!

The ones I’ve personally dealt with have been more concerned with up-selling products rather than taking care with the advice they give.

Which lender are you with OP?

Cheers

Jamie

Hi Barlow

It sounds biased but I’d chat with a decent broker first – they’ll advise on loan structure and what’s possible.

Generally speaking though – if you’ve got equity in your PPOR, and the borrowing capacity to service an IP debt, then we set up an equity release against your PPOR to funds the deposit/costs on your IP (or IPs). We then…[Read more]

Why limit yourself to a local when you’ve got the entire country to choose from?

In any case – Richard is just down the road. Hit him up.

Cheers

Jamie

Manolo – simple solution is to hit up an expert to get this sorted.

Richard and Terry are going to give you much better advice/service than your local banker – why not ask one of them if they’ll take you on as a client. That way you don’t have the risk of stuffing up your loan structure and future tax deductions.

Cheers

Jamie

Hi Roberto

Ivan’s on the money – you generally need to have two years ABN history before applying for a mortgage. Most lenders will want to see two years of financials too – some will be happy with one.

Cheers

Jamie

Hiya

He means set up a whole new separate loan – you can park the funds in the loans redraw for future use.

Cheers

Jamie

Hi Jo

If borrowing capacity is an issue then you might have to wait until your returns are beefed up -there are a few lenders that will go off ones years return so you might only have to demonstrate one strong year.

Cheers

Jamie

Good old Adelaide hey :-)

Nothing wrong with this approach. It’s not easy making money from short-term property transactions – wealth (IMO) is generally created over the long term with property.

Cheers

Jamie

Definitely get legal advice. Sounds like you may be up for duty again. Is it really worth it?

What benefits will the trust provide over individual ownership?

Cheers

Jamie

That would be a nightmare. You’d end up with a contaminated loan and not be able to claim any deductions.

Cheers

Jamie

Generally no issue having two (or three) properties with the same lender providing the loans are structured correctly (ie. not cross collaterised). There’s benefits having multiple loans with the one lender. You can usually negotiate a lower rate on the aggregate borrowings and if there’s an annual fee – it generally covers all the loans.

Cheers

Jamie

Hiya

Ex housing commission properties can make for good investments. If the numbers stack up – I wouldn’t eliminate them from your search altogether. Besides – some of these properties were built to last!

Cheers

Jamie

You’re in an awesome position – well done.

How much income do you need in retirement? Can you get it from your current portfolio if the debts were all eliminated?

Cheers

Jamie

Agree with Corey – if cash flow is the aim of the game then don’t limit yourself to one geographical location.

Hi Gaurav

Nice speaking with you this morning :-)

Those consultants are glorified real estate agents flogging overpriced off the plan properties for massive commissions. Steer clear.

Cheers

Jamie

Hi Andrea

There’s been a few posts on this – if you do a search you should be able to find some recent recommendations.

Cheers

Jamie