psrproperty wrote:

Are Equity Release and Refinance the same thing?

They’re two different things.

Having said that – a refinance and equity release often happen at the same time.

Cheers

Jamie

Property Buyer wrote:

Generally, how are the financial institutions currently treating requests to increase existing lines of credit ? For instance, if I wanted to increase these to 75% LVR, how should I expect them to react to such a request ?

All depends on the lenders policy and your borrowing capacity.

Some lender are still ok with cashouts up to 80% for investment purposes – it generally involves a full application process.

Cheers

Jamie

Kade wrote:

From my research and reading Steve’s books I believe this to be the wrong advice and was wondering if anyone could comment this or possibly point me in the direction of a good accountant and/or broker that specialise in property.

Hi there

What benefits do you believe you’ll obtain by investing via a different entity?

Cheers

Jamie

Hi there

This is an area I’ve started to take a closer look at. Some clients are starting to go down this path and my wife runs an airbnb management company so I’ve taken more of an interest in it.

1. Is income solid?
Like any investment – some will do better than others. If the property is in a popular tourist destination that isn’t dependent on seasons then the income can be reasonably consistent.

2.What is your experience of property managers, any recommendations
I can’t speak for the Gold Coast but I’m sure there’d be some airbnb property managers – it’s the perfect location for that service. Just check that there’s no hidden/extra fees – ideally you want to just pay the one fixed percentage cost. My wife runs a popular airbnb management company in Noosa – their website has some good info that might help.

3. What are council implications
I’m not sure about the Gold Coast – it can vary from council to council. Some will charge an additional levy with rates.

4. Recommendations re suburb
I’d look for something in close proximity to main tourist spots. Location is always important. Have a look at airbnb and see where the most popular properties are within the Gold Coast – get a feel for the type of properties that are in high demand.

5. Anything else you wish to offer
Do lots of research before committing to a purchase. At the very least – you want to know that the property will provide a reasonable return if you have to revert to plan B and place it on the normal long-term rental market. There’s also some implications with obtaining finance which I touched on via this blog post

Hope this helps :-)

Cheers

Jamie

• This reply was modified 6 years, 3 months ago by  Jamie Moore.

lexd wrote:

Hi, I am planning to move into my investment property and turn that into my primary residence (I am currently living with my family).

Hit your current lender up for a lower rate

Most lenders differentiate between owner occ and investment.

With some lenders it’s a straight forward process – with others it can be more difficult.

Cheers

Jamie

Hi there

Any particular reason you’re narrowing it down to only NSW?

Cheers

Jamie

Keep the house uncluttered and well presented for when the valuer arrives.

If you’ve got strong, recent, comparable sales – have those available to show the valuer.

In terms of best bang for your buck – usually painting/flooring is the cheapest value add.

Cheers

Jamie

Hiya

You need to a) save a deposit and b) show evidence to a lender that you can service the loan you’re applying for.

Cheers

Jamie

I’d only ever use a property manager for looking after my IPs – I don’t have the time/patience/expertise to deal with them.

Having said that – finding a good property manager isn’t always easy :-( I’ve had some shockers, some great ones and everything in between.

Cheers

Jamie

Anthony Zanatta wrote:

a real estate agent has recommended someone from Loan Market as the go-to guys.

Chance are that REA is affiliated with the company they recommended.

Personally – I like to minimise conflicts of interest so I’d appoint my own MB rather than go with the one the REA is recommending.

Cheers

Jamie