Hi kurt

Is the property a serviced apartment? If so – the max LVR is usually around 70% which can deter future purchasers and impact on longer term growth.

Cheers

Jamie

Need to check out your agreement with them – it contains all that info.

Cheers

Jamie

Hi James

My personal philosophy is that if someone cold calls me about an opportunity – the phone call ends quickly.

Cheers

Jamie

Hiya Shibby

Sometimes it can be beneficial to pay a smaller deposit and cop some LMI.

If the property turns into an IP down the track, you’ll have a larger loan to deduct from (and possible some LMI too).

You’ll retain some of your savings as a contingency buffer and/or for future opportunities.

I wrote an article for API magazine about this…[Read more]

Hiya Danis

They can help. They assist in developing a landing page on your FB site which encourages people to “like” the page in order to access the content.

Cheers

Jamie

You can’t go too wrong with depreciator.

You should have few options out your way – a quick google search should present a few.

Cheers

Jamie

Hi bns

Welcome aboard.

I don’t quite understand the question – admittedly it’s quite late so my brain might not be functioning :-(

Are you wanting to access equity in the IP to purchase a new PPOR?

That’s fine – but that equity won’t be deductible because the purpose is to purchase a PPOR.

Cheers

Jamie

Hi Solomon

Yep – it’s scary how incorrect the advice can be….and also how common this is.

I’m always tidying up structures that bankers have made a massive mess off.

It’s great that you were clued up enough to identify the issue.

Cheers

Jamie

$125k…..

Use it as a a deposit on a buy/reno/hold place in Canberra’s inner north.

Cheers

Jamie

Hi Woody

This all comes down to the LVR.

If the LVR is less than 80% then there’s no restrictions. I’ve recently carried out big cashouts for forum clients with no hassle.

Above 80% and CBA will want to see “evidence” of what the funds are being used for.

Not all banks have this requirement.

Cheers

Jamie

Hi Ty

Welcome aboard :-)

I always recommend getting clued up before jumping into investing. Spend lots of time reading and educating yourself – property investment forums like this one are an excellent resource for free, up to date information.

There are heaps of books too – Steve McKnight, Jan Somers, Margaret Lomas, the list goes on.

When…[Read more]

That’s pretty cool – I didn’t know about the entertainment industry – then again, there aren’t too many celebs in Canberra :-)

Cheers

Jamie

Trade secret :-)

ANZ

Cheers

Jamie

Highest income earner holding a CF+ property as majority owner isn’t good.

Do you need to meet an accountant face to face or would you be happy to use email/phone? If you’re happy with the latter – you can choose an accountant from anywhere in the country.

Cheers

Jamie

Hi Jate

Agree with kinetic – both options achieve the same outcome. You can borrow from the IP – but you don’t need to pay down the LOC against the PPOR.

Generally speaking I’d just access equity in whichever property provides the most with no (or less) LMI involved.

Cheers

Jamie

Hiya

Not sure if this is a question, rant, statement or all of the above.

Yep – dodgy operators are in all facets of the property game. There are also some hardworking, ethical ones that aren’t obsessed with making a dollar. It’s just a shame that there’s so many of the former.

With all service professions – carry out your due diligence and…[Read more]

Hi Kenny

Do you have a loan agreement in place with your num?

Cheers

Jamie

Hi Ben

House of Wealth usually get a good wrap on the forums – not sure about the financial advice side of things though.

Cheers

Jamie

Hi Kenny

When you say “us” do you mean yourself and mum or just you mum?

If she’s the only one on the title for the IP that the LOC was taken out against – I’d assume she’s the only one that can claim it as a deduction.

Cheers

Jamie

Having said that – it is important to have the right structure in place to optimise your money. For instance, if you have multiple properties – set up IP as interest only, link an offset to a PPOR loan, ect.

Cheers

Jamie