Hi Kieth

Do you own an own a PPOR? If so – does it have a mortgage? and is it fixed/variable or a combination?

Cheers

Jamie

Spot on.

Just had a similar conversation with a client recently.

The property was coming with rental guarantees, free legal advice, etc.

If they need to thrown in so many sweeteners then you’ve got to question the quality of the investment.

Cheers

Jamie

No – sorry I don’t know of any that would be willing to mentor.

Cheers

Jamie

Hiya

The percentage ownership on title dictates who can claim investment expenses. So if it’s 50/50 – the claims are 50/50. If it’s owned 99/1 then claims are 99/1.

What’s best? Depends on what your accountant advises. Where are you based?

Cheers

Jamie

ok – best of luck with your career change.

Hi Charlie

I don’t think you’re focusing on the most important aspects here. All your concerns stem from the money you suspect the mentor would make – you should focus more on trying to find an excellent mentor to take you on. I would also lose the term “interview” – the good mentors in this industry aren’t being interviewed by potential new…[Read more]

It’s a really good question – I don’t think they do :-)

I’m not quite following.

Are you talking about the MFAA certified mentor thing?

If so – my understanding is that you don’t have to use one that’s sat down and done the MFAA course. There are other requirements that have to be met from memory – such as minimum number of years in the industry and a certain amount of loans written. I can’t quite…[Read more]

Then it might be time for a career change ;-)

Cheers

Jamie

Because the excellent brokers are likely to make more than that actually broking.

Having to deal with mentoring 20 brokers would be a nightmare!

Cheers

Jamie

Agreed – but pretty sure WBC price based on splits. Seems the more splits the lower the pricing discount.

Hiya

You either extend the IO term or refinance to another lender.

Cheers

Jamie

Good post.

I mentor – and it’s certainly not for the money!

There’s a lot of time/effort involved – especially early on.

It’s not a “file checking” role – it’s about mentoring in all facets of the industry and helping them develop their businesses.

Cheers

Jamie

Some brokers do charge an upfront fee that’s rebated upon them being paid a commission from a lender.

Cheers

Jamie

Hi Misswilko

How bad do you want the place? Is it worth jeopardising over something so minor?

It seems pretty straight forward to me – have your lease end on the same day you’re due to settle……unless I’m missing something here.

Cheers

Jamie

Hiya Troy

How are you structuring your loans? have you talked to a decent finance person about borrowing capacity, structure, etc? $350k is a lot to play with – and could be leveraged quite far with the right plan in place.

Your finance person should also be able to advise on the purchasing process – they should be able to recommend allied…[Read more]

Sorry Mick – you’ll have to do your own research :-)

There’s no shortage of CF+ properties – especially with rates being so low at present. However – just because a property is CF+ doesn’t necessarily make it a good investment.

Cheers

Jamie

Some brokers charge an upfront fee for service – I wouldn’t say it’s quite the norm (I don’t) but if it is going to be charge – it needs to be disclosed upfront.

Cheers

Jamie

Yep – same here.

Nothing worse than when a fixed rate or two is thrown in the mix as well :-(

It’s a good point Corey. The costs go up substantially too.

Liana – how much are you looking to spend?