I'm sure Terry W will be onto this in a flash.

Cheers

Jamie

babyflynn81 wrote:
Wow – learnt something new today! 

Sounds like a few investors do the 90% +15% personal loan scenario. I'll consider that for the next one. 

Thanks Richard.

Another option that works for some people is a gifted deposit – a gifted deposit that covers off 10% plus costs will usually get the deal done on a 90% lend with the…[Read more]

Chickenhawk6451 wrote:

Qlds007 wrote:
Option 3 Take out a 105% standalone loan with a 15% personal loan and 90% traditional loan.

Thanks for the help so far everyone, I'm keeping all options open. Wouldn't the above option not be possible because when you apply for a home loan you need to declare all debts? So if you can't use a loan to…[Read more]

Property management fees can be quite high.

Cheers

Jamie

Hi and welcome aboard.

Student accommodation rarely makes for a good investment – especially if you're searching for capital growth. On the surface, the rental yields may appear strong but high holding costs can quickly erode those returns.

Banks aren't a huge fan of them either – you'll require a large deposit to get the deal done.

All in all,…[Read more]

I have one excel spreadsheet set up – it has a separate page for each IP.

I capture the income and expenses of each property once a month. I keep all receipts in an envelope for each FY.

If I had more time, I'd scan and electronically file all receipts/invoices.

I also have a hard copy file for each IP – which holds all paper correspondence.…[Read more]

s0805 wrote:

Richard/Jamie, that's good to hear that ANZ does allow the loans to be paid back on drawdown. Just so i
understand it right u mean using redraw…..so drawdown the IO loan and park all the money on redraw on the
settlement….and use it from redraw when you are ready…is that right? that means i don't need offset accounts…[Read more]

Yep it's possible – just ensure that the bank isn't crossing up your loans. Also, is there a chance that this property could become an IP down the track (your current PPOR I'm talking about)?

Cheers

Jamie

That year went way too fast. Looking forward to getting back into the office this coming Monday.

Cheers

Jamie

You could try Jeremy Fox who's in Tuggerah (not quite Newcastle) jfox@foxgroup.com.au 02 4353 3889

Cheers

Jamie 

Hi Junk

Are you considering turing the PPOR into an IP down the track? I couldn't find any reference to this.

In any case, IO for a PPOR can be a good option. 

Cheers

Jamie

engelorumora wrote:
What is a "property sourcer"?

Like a buyers agent?

Thanks

Yep pretty sure that's what he meant. I think there was a similar post about it.

Cheers

Jamie

Agree with Richard – there's no point in paying a premium for a LOC product, especially with ANZ, when an IO variable loan will end up having almost identical benefits. I think there might be a minimum redraw of $2k with ANZ (that's off the top of my head though) – but apart from that, it makes sense to save yourself a little on the rate and go…[Read more]

I prefer old all the way. Especially old properties that can be cosmetically renovated for a quick equity gain. That's how I got started with investing and is a strategy I continue to employ.

I agree with the other guys about paying a premium for new – the same concept applies to almost all goods.

Cheers

Jamie

Qlds007 wrote:

It is upto you but i think i would put my energies into forging a team of Professionals to work with rather than trying to do everything yourself.

Agreed. I'm not about to go off and get a medical degree so I can treat myself every time I get sick – it's impossible to be good at everything. For that reason, you need to make…[Read more]

mattliasiian wrote:
Hey guys I am 20 yrs old and looking to buy my first property in early 2014, my max price $300,000 with a  20% deposit. My question I wanted to ask was, should I see a mortgage broker or just borrow directly from the lender ? Whats some trips and traps to look out for ? how do I find the best price ? or the best broker ? any…[Read more]

CanD wrote:
That's a lot of great information, thank you Richard and Jamie.

So, then it means the whole buying process, from mortgage application to closing can be done from outside the country, right?
Would it be more advisable to be present for some of the stages, though?

Correct – you can be outside of the country for the entire process …[Read more]

Happy belated Merry Christmas forum folk.

I hope everyone had a great day and avoiding logging in to post on the forum

Cheers

Jamie

dublingirl wrote:

I suppose the question is how do I get into the 2nd property and how much $$$ do I need upfront?  To cover deposit, fees etc…   I hear stories of people borrowing money against their properties.  I suppose I just want the easiest way to buy 2nd property.  Any advice?  

Easy peasy.

Have the first property valued – and if…[Read more]

ChristineNurse wrote:
Good Morning all,

Would like your advice on the following. I currently have 4 properties  (3 investment + 1 residence). All my investments properties are currently fixed for 3 years, interest only loans. I wish to purchase Property investment 4 next year using equity from the other IP. However, because it is interest only,…[Read more]