Hi Chris

I can’t speak for those apartments in particular – but happy to speak about OTP in general.

The concern I have with OTP is that the developer expects you to unconditional on the purchase now – but the bank won’t approve finance for the property until it’s completed.

The risk with this approach is that if your financial and/or…[Read more]

Hi Greg

Can’t recommend one in Newcastle but in Sydney – Paul Gerrard from Price Financial is very good.

Cheers

Jamie

I’m with @buyersagent

I can’t speak directly about the company you’re referring to OP – I have no idea what they do or what they offer.

However – I do know that there are a lot of companies selling off the plan properties in QLD – and at times – they are sold for a large mark-up due to the layers of middlemen getting paid.

Do your research…[Read more]

For an IP – I’d look to borrow the funds and claim the deduction.

For a PPOR – if you had the cash available it would make sense to use it rather than borrow more.

Cheers

Jamie

Hiya

I missed these questions from a while back – sorry.

It can’t hurt getting your properties valued every few years to see if there’s any equity that can be released to fund future deposits.

In terms of LMI – it’s not easy to get lenders to release equity above 80% of the properties value these days. However – there are some lenders that…[Read more]

Have you capped out with Nab, Choicelend, Liberty yet?

Cheers

Jamie

I don’t mind paying it – I think it’s a reasonable cost for finding a tenant.

Cheers

Jamie

Biggest struggle for those starting out is funding that first deposit. After that – it becomes easier (assuming you buy well and the property appreciates in value).

Second to that – is over analysing which prevents some people from making decisions.

Cheers

Jamie

+1 for Jac M. She’ll do a great job.

Cheers

Jamie

It’s quite normal.

Has applied to all my IPs

Cheers

Jamie

Hiya

Talk to the agent and negotiate a small deposit with an extended finance clause period.

It won’t be an attractive offer (because they will need to wait a while for you to sort out finances) but if the property has been on the market for a while you might have some luck.

Get a decent broker on board to get this sorted asap too – Richard or…[Read more]

You’d need to increase income from the property and/or reduce costs.

Negative gearing isn’t an issue providing the property is growing in value at a higher rate than the cost of holding it.

Cheers

Jamie

Nice spam

Hi Ronnie

Generally not an issue.

However – if the property is only in your name (and if the loan services in your name) then might be worthwhile leaving your partner of the application (mention that you have a partner to the lender though). It might save your partner a credit file hit/additional liability.

Cheers

Jamie

Walk around the area – spend some time in it – get a feel for it before purchasing.

Without sounding judgmental – you’re generally going to run into more riff raff in an area with a higher concentration of social housing. I think that’s pretty obvious.

Cheers

Jamie

Hey danwatto

Corey is a gun commercial broker – he knows his stuff.

Cheers

Jamie

Of course.

There’s a fact find on my website – if you fill that in and email it over – I’ll have a look at it for you.

Cheers

Jamie

Hi JP

If you’re disciplined with money – and can afford the IP debt and personal loan – I’d consider purchasing the IP.

Perhaps have a decent broker assess your borrowing capacity.

Cheers

Jamie

Welcome Dave :-)

Cheers

Jamie

My question is the same – why?

Nothing wrong with an investment putting some money in your pocket.

Maybe look at getting a second opinion from a new accountant.

Cheers

Jamie