Hi Kevin

Welcome aboard :-)

Start by educating yourself. There’s tonnes of books out there – and forums like this are a good resource too.

When you’re ready to roll – surround yourself with a good team of professionals. An accountant and finance person are a must.

Cheers

Jamie

Shouldn’t be an issue at all.

They aren’t taking ownership of the property.

Cheers

Jamie

Hi there

Welcome aboard.

Are you sure this advice is coming from an independent buyers agent working for you or is it coming from a property marketing company that sells OTP property and reaps sizeable commissions?

Cheers

Jamie

Hiya

Welcome aboard :-)

Smart people recognise that they can’t excel in everything – so they outsource what they don’t know to the pros.

Get a good finance person and accountant on your side and you’re already half way there.

Cheers

Jamie

Biggest bang for your buck would be:

– A big clean up
– Painting
– Yard tidy up
– Flooring

Cheers

Jamie

Do you allow pets?

If not – would you consider?

That usually helps generate a bit more interest.

CHeers

Jamie

Yep – I’ve only heard good things about him too.

Cheers

Jamie

Hey Sam

Welcome aboard.

Nothing wrong with aiming for a mix of growth and cashflow – it’s what I’ve personally done.

As mentioned above though – there’s no solid answer that can be given as there’s no one size fits all with property investing.

Cheers

Jamie

Hi Shelle

Welcome aboard :-)

The best advice to give at this stage is to educate yourself. Spend time on forums like this – they’re free and are full of up to date information.

There’s also plenty of property investing books out there – all explaining different strategies/approaches to property investing.

There’s also a few national magazines…[Read more]

Technically they could – but if going via a broker they should be able to avoid that occurring or have that decision overturned if it did.

Cheers

Jamie

Hi Andrew

There’s no shortage of banks that will lend to a family trust. Any descent broker should be able to assist.

Cheers

Jamie

Hiya

You’ll just need to let your finance person know that there’s been significant renos and a full val is required over a desktop.

Cheers

Jamie

Hiya

Welcome aboard :-)

I’d probably tell them to give property investing a miss. Not wanting to leverage bank funds and unwilling to purchase outside of own suburb really restricts the potential benefits of investing in property so best to look at other avenues of investment.

Cheers

Jamie

Hiya

It’s a good thing your banker actually knew this – some don’t!

Cheers

Jamie

Yep – $180k in accessible equity. That’s keeping your LVR at 80%

Cheers

Jamie

Hiya

Most lenders will allow an equity release for renos – especially if it’s non structural.

Cheers

Jamie

Death and taxes – no ones escaping either.

Agree with Cjay though – prob some neg gearing strategy.

Cheers

Jamie

Yeah it’s an unfortunately reality….and rarely will strata fees go down :-( They always seem to only go in one direction.

I remember the fees for our first IP starting at $300 p.q and the bill I got the other day was close to $900.

Cheers

Jamie

Have you thought about getting a couple more upfront vals with different lenders to see if you can get a better result?

Admittedly there are fees with refinancing (prob higher than the $500 in LMI you’re up for) but if you get a better result you might also be able to pull out some equity whilst converting it to IO (that’s if you’re wanting to do…[Read more]

Hi Ronnie

There’s “actual” equity and “usable” equity.

Actual is the difference between the value of the property minus the loan amount.

Usable is what the bank will let you access. Now they won’t let you borrow 100% of your properties value – the most some will go to is 90%. So using your figures – if the property is worth $600k, you could…[Read more]