Hiya

You’ve stumbled across an Australian forum – so not sure if you’ll find much help :-(

Cheers

Jamie

Hi Sam

Seems a bit weird.

Is this Anz?

You’ve got a couple of options. Speak with a decent finance person and look at the option of staying with your current lender and the costs involved and ordering a couple of upfront valuations with different lenders and refinancing.

There’s pros/cons of both approaches.

Cheers

Jamie

Hey buddy

Awesome work on a couple of IPs at 21!

I prob wouldn’t compare a two beddie with GF to a three beddie when working out anticipated value.

Whilst your adding a bit of value with the GF – you’re also removing car accomo.

Are the plans council approved?

All in all – I’d do it, even if it doesn’t value up much higher – the yield should…[Read more]

Yep – banks will want to know how much maintenance you pay.

Cheers

Jamie

Hi Wayne

Get in touch with a decent broker to crunch the numbers for you to see what’s possible. Different lenders assess borrowing capacity differently – and a good broker will have access to most.

A lot will come down to whether you have other liabilities.

Cheers

Jamie

Matt Knight is a BA in that area. He might be able to help with your questions http://www.precium.com.au/

Cheers

Jamie

Andrew Allen still has a solid rep and does a great job.

I believe Richard Taylor from this forum is also sourcing properties in Bris.

Cheers

Jamie

Doesn’t sound like it. Always important to get a legal person to review the contract before signing.

Cheers

Jamie

Whoa! I would be too!

I don’t know the company and have no idea what they offer – but that sort of price tag is massive.

Cheers

Jamie

Hi Bla

Hit up Richard and Jac. They’ve got a good rep in this community and clearly know a LOT about property investing.

Cheers

Jamie

Hi there

It’s too broad a question IMO.

It’s a city full of so many different markets. I wouldn’t know where to start in answering that question!

Cheers

Jamie

No worries Stevie – I’ve been called worse :-)

Cheers

Jamie

Oops – my bad. Yep, I meant a house :-)

Cheers

Jamie

Pleasure :-)

Let us know how it goes.

Cheers

Jamie

Hey Ches

Yes – it involves an application so a credit check occurs.

The bank will lend up to 80% of the properties value without LMI. Some will go to 90% which triggers LMI.

So look at this way – if you had a house worth $100k and a loan of $70k, you could borrow up to 80% of that $100k value ($80k) which means an equity release of $10k ($80k -…[Read more]

I’d prob allow a bit more for those purchase costs just to be safe – allow $3k if it’s covering legal, building/pest, rates reimbursement, etc.

Cheers

Jamie

Hi Ash

It’s different strokes for different folks.

Personally – I prefer land. You can do more with it and don’t have to deal/pay for pest body corp fees.

Cheers

Jamie

Agree with Mick on the investing with others issue. If you can avoid it – I would.

I’m also not a huge fan of mixing up property investing with other family members property (but that can be a personal decision).

The gifted deposit (which could be via equity) could be a good option. It means your mums house isn’t tied up with your IP.

Cheers

Jamie

I’m the same as Catalyst. I take notice – and factor it in, but it’s only part of a greater due diligence process.

I think the media likes to place a spin on it for headline grabs.

Cheers

Jamie

Definitely speak to a “good” accountant – there’s quite a lot to consider here.

Cheers

Jamie