rc388 wrote:
My question is can I claim the interest on the second loan

Sure can as it's for IP purposes.

Cheers

Jamie

Catalyst wrote:

I've met landlords that don't bother collecting the water usage. I think this is crazy. I have one house that always has a usage of over $150 a quarter. That's $600 that's not out of my pocket AND that's just on one property.

I'm guilty of this….accross a few properties too. I should really pull my finger out and get onto…[Read more]

If it were me I'd borrow it and get it all done. Renovating slowly rarely works out well!

Cheers

Jamie

If you won't need to alter the loan at all in the future then they might be ok.

If you decide to access equity, etc you may find it difficult.

Cheers

Jamie

Buying off the plan is rarely a good idea.

You generally pay a premium for them. For that reason, valuations can come in low – and if you don't have a large deposit you may find yourself in a position where you can't obtain finance meaning you'll forfeit your deposit (and possibly more).

Cheers

Jamie

I don't know the area. Personally, I'd spend the money elsewhere.

Cheers

Jamie

sanasar wrote:

What I don't understand is, why is interest paid more than the month before if the mortgage balance is actually lower?

As catalyst said  -the simple answer is the number of days in the month. You'll be happy when the Feb repayment comes around

Cheers

Jamie

Like anything – you get what you pay for.

If you've got a couple of properties under your belt and/or are thinking of growing a portfolio then I wouldn't be dealing with the online cheapies. Their rigid policies will set you back.

Cheers

Jamie

Depends on the area of the property.

Where is it located?

Cheers

Jamie

Finance structure is hugely important. The wrong structure can ended up costing you – both in monetary terms and in lost opportunities.

Lender selection is important. When investing, you want to use lenders that aren't too difficult to deal with when it comes to equity releases.

You also need to choose the right lenders at the right time so you…[Read more]

Hiya Ted

Welcome aboard.

You've stumbled accross an Australian investment property forum

For that reason, you won't find too much advice on finance structure.

In any case, your mates dad should be able to advise.

Cheers

Jamie

Hi there

Welcome aboard.

At a minimum you'll need to save at least a 5% deposit and enough funds to cover costs such as stamp duty, etc.

If buying new, you may be eligible for certain concessions and the FHOG in NSW.

Cheers

Jmaie

I've renovated using both options – DIY and using tradies.

I actually enjoy a bit of DIY but just don't have the time to do it anymore so have to use tradies.

I've got a fairly large renovation happening in the PPOR at the moment – and it's not the sort of work I'd be capable of doing anyway. Lots of structural…[Read more]

Paterson00 wrote:
Are there any more I should be considering?  How about loan set up costs perhaps.  I understand that not all costs will be possible to implement into a formula based spreadsheet for a template but it would be nice to have an idea what to expect.

House of wealth have a comprehensive list on their website…[Read more]

Hi investing_2013

Welcome aboard

Personally, if I've worked out that I'm willing to pay $235k then I'd start at a figure that will allow for two price jumps. I'd probably start around that $220k – $225k mark as it's not too ridiculously low that you'll lose credibility with the agent/vendor and it also allows you to move up a couple of $5k…[Read more]

Hi Jate

As long as your run the funds through an offset account (and not a redraw facility) then you should be able to avoid any taxation implications.

I'm not an accountant though – so seek expert advice on your particular situation.

Cheers

Jamie

jate wrote:

Terryw wrote:

I see so many people who are costing themselves a fortune because of poor structuring.

Hi Terrw,

Are you able to advise what is the best way to structure accounts for people where you have a basic portfolio such as the follows and looking to be able to most effectively scale up and grow the number of investment…[Read more]

Personally, I think it's best to build a relationship with one person that already has networks in place.

For instance, I've got a builder currently carrying out extensive renovations on my PPOR. He knows all the best local tradies – and coordinates all the work. I just provide my credit card details every now and then to pay an invoice and…[Read more]

At the moment you're sitting on a high LVR so you'll need to wait until you've either saved some more cash, the properties goes up in value or a combination of both.

Cheers

Jamie

I'm everywhere guys

I'm based in Canberra but if I look at my deals settling this month – they're clients from Darwin, Melbourne, Geelong, Tassie, Canberra, Sydney and Brisbane.

Cheers

Jamie