Hi Phil

Welcome aboard.

The size of the deposit required would depend on the location.

Personally, I’m not a big fan of regional cheapies. Some investors do well – but some find it difficult to move forward with these properties in the portfolio. They might put a few dollars into your pocket due to strong yields but they usually have bugger all…[Read more]

It is in Canberra :-)

Cheers

Jamie

Hi Niro

Are you 100% sure you want to self manage?

Things may be going smoothly now – but that’s not when the property manager earns their money, it’s when things go wrong….which is inevitable, it happens and a good PM is a handy person to have on your side.

Cheers

Jamie

Hey Shayne

Just let your solicitor know what you’d like to do and they’ll word it for you.

When you’re requesting early access for renos – you really need to go via the correct channels.

Cheers

Jamie

Pop over to the boarder and grab something cheap in the ACT :-)

$350 prob wouldn’t buy much here though – maybe something in the outter burbs in need of some love.

It’s certainly a buyers market at present.

Cheers

Jamie

Hi AV

Normal approach is to access equity in your existing property to fund the deposit/costs on the next.

Agree with above – best to use IO with an offset to avoid future taxation implications of redraw.

Cheers

Jamie

Hiya

If you require face to face then you can’t go wrong with Colin.

Cheers

Jamie

Another point of view is fine – and I doubt the mods would have an issue with that. It’s personal attacks and belittling others that doesn’t sit well – and for good reason, it adds no value and is just cruel.

Admittedly I didn’t pay particular notice to his/her posts so don’t know why they were banned.

Cheers

Jamie

Ahhh right – I’m with you. Didn’t even notice.

Cheers

Jamie

Ahh of course – FNQ!

Cheers

Jamie

Who are talking about?

Cheers

Jamie

Hiya

Are you claiming depreciation?

How come the insurance is so high? Can you get a better deal?

Cheers

Jamie

hmmm – something doesn’t sound right here.

ANZ are generally ok with equity releases up to 90% providing you can service the debt. If it’s for investment purposes than that’s the only thing that needs to be stated as the equity release is less than $50k

Sounds like the deal may have not serviced – but if that’s the case, I don’t understand why…[Read more]

Hi Grumblepie

Are you saying you want to quit PAYG work and rely on business income to borrow?

If you’re continuing in your PAYG role and working the business at the same time – you could still put up an application using your PAYG employment.

Cheers

Jamie

Brisbane has been on a steady incline for a while now – it’s a very popular spot for investors at present. I seem to be doing a lot of loans for clients purchasing up that way.

A BA can be a good option – especially if you have little knowledge about the market and/or are time poor.

Cheers

Jamie

Hey Des

Personally I’d take it out – one less thing to worry about.

Unless it’s going to make/break a deal when it comes to securing a tenant.

Cheers

Jamie

I’d try Sam at Qura – http://qura.com.au/

She’s active on the SS forum – provides insightful posts and has a good rep.

Cheers

Jamie

Hey Ollie

My thoughts are the same as Catalysts – there should be quite a few that offer all three types so you could possibly package up some sort of deal and get a discount.

Shop around though – and also read the PDS!

Cheers

Jamie

As Richard said – shouldn’t be an issue given the purpose.

Cheers

Jamie

Not many lenders doing 95% + LMI for IP’s these days though. The ones still doing 95% lends won’t add LMI (it has to be 95% inclusive of LMI).

Those that still do them aren’t too keen on them – so credit score harshly.

Cheers

Jamie