Mine collects houses

cheers

Jamie

It sounds biased but speak to a decent finance person about your options before selling up.

Without knowing the specifics of your situation, you may be able to keep your IP and still buy another.

cheers

jamie 

Hi Booshie

Like Scott said – generally speaking, it's best to have negatively geared properties in the higher income earners name and positively geared in the lower income earners name.

However, remember that properties tend to steer towards CF+ territory over time as rents continue to increase.

Another thing to note is that taxation benefits shouldn't be the main motivator behind a property purchase (that's not to say that this your main motivator). Rather, you should look for a property that fits in with your longer term strategy and view the taxation benefits as an added bonus.

Cheers

Jamie

Absolutely. You can still get some depreciation on older dwellings – and like Nathan said, you've got relatively new renos to claim on as well.

Cheers

Jamie

It all comes down to the location and purpose of the renos.

For instance, you obviously wouldn't place a $2k bunnings flat pack kitchen into a $1m property – for the same reason, you wouldn't spend $50k on a kitchen in a sub $200k unit in West Sydney. 

Are you planning on holding onto the property or selling it?

Personally, I've never worked to percentages – I've just started off with a list of work I wanted done and then based my costings off that. The last major renovation was on a $450k IP in Canberra's south. We spent about $15k and it included new flooring, paint, refaced kitchen, rendering and landscaping. 

Cheers

Jamie

Hi Cubez

I don't think you need to speak with three agents to have the property valued if you don't intend on selling it – its' a waste of time on their behalf and their "appraisal" of the property won't be considered by a lender when extracting equity. They will want to carry out their own valuation.

Cheers

Jamie

You can write anything into a contract. Is there something specific that you're trying to achieve?

Cheers

Jamie

There's nothing new with this approach.

It's been around for years – refund home loans was probably one of the more well known users of this model….and look what happened there.

I'd question the quality of any brokerage that needs to rebate clients in order to attract business.

As for the end of mortgage brokers in 2013….that's not going to happen and the decent brokers won't be going out of business any time soon.

Cheers

Jamie

It's a disadvantage – just keep it all IO and park all of your extra savings into the offset account.

Cheers

Jamie

Be careful you don't leave this web browser open!

Cheers

Jamie