Hi thebigo

If this property is going to be an IP in the future then I'd consider paying a smaller deposit and copping a bit of LMI.

I'd also set it up as IO with an offset now – there's no point paying down the principle when this will become a deductible debt later on.

Here's an article I wrote on this subject.

Cheers

Jamie

lol – Joe, you have a way with words

Not so much the big FO but I do politely decline the business – I'd rather devote my time and efforts to customers who are dealing exclusively with me.

Cheers

Jamie

Just looking forward to a nice, relaxing "work free" day with the family – drinks, food and fun.

Not sure what Santa is bringing me – though I'm 99% sure I've been good this year. My wife was carting something large out of the car yesterday which I wasn't allowed to look at – could have just been 10 pairs of shoes for her though…..

Cheers

Jamie

Don't worry – I found my first grey hair the other day….then realised it was just a pug hair

Cheers

Jamie

Be careful with what you do with all that cash.

As others have mentioned, don't use it all up on the one property deposit – there are smarter ways to use those funds.

Paying off an IP debt as quickly as possible may not be the right option either – there are other things to consider here, such as whether you own a PPOR, plan on purchasing a PPOR in the future or have any other non deductible debt that can be knocked on the head first.

Cheers

Jamie

What do you want to achieve?

You really need to set a goal and devise a strategy from that.

Get a decent broker/banker, accountant and buyers agent on side (if buying interstate) and avoid using your cash to fund the purchases – look to borrow the money instead and leverage the banks money rather than your own.

Cheers

Jamie

Yep, the old take out a massive STG portfolio loan and spread it across all of your IPs – a bit of a nightmare.

Cheers

Jamie

Like any profession – there's good and bad ones.

I'm sure you make for a great candidate for a rental and I'm just thinking out loud here but not renting for the last 12 years may be having a negative effect because there's no reference point for the PM to check on your history. I could be wrong and the PM folk on the forum can correct me.

Cheers

Jamie

MISA account because if you place it in a savings account you'll be taxed on the interest.

When it comes time to buy the next IP, look to "borrow" the funds rather than use "cash" 

Cheers

Jamie

Hi Brines

Welcome aboard.

Are you talking about how much properties in a particular area will rent for?

If so, there's a few sources of info.

Online rental listings on websites like realestate.com will give you a good indication.

There's also suburb profile data available online and through reports from residex, ect.

Local property managers will be a good source of information. Call up a couple and let them know that you're looking to purchase in the area and would be interested in using their services – have a quick chat about the anticipated rental prices and demand for the area.

Real estate agents will also offer up their opinion but it may be inflated to entice you.

Cheers

Jamie