Like Catalyst said, a local cabinet maker should be able to assist. If possible, it might be best to get them to measure up the doors so you don't end up with odd sizes that don't fit.

There's also a few online companies.

Cheers

Jamie

Hi Hemi

Welcome aboard.

You don't need to travel for the best advice – these days everything is done via email and phone.

You'll be hard pressed finding a financial advisor that will advocate property investing. A decent mortgage broker who understands investment property structuring and actively invests themselves would be a better option (yes – it sounds extremely biased coming from a mortgage broker).

James Gatherum-Goss from House of Wealth in Melbourne is a fantastic accountant. We share mutual clients and all have been happy.

Hope that helps.

Cheers

Jamie

Yes!

There's a number of companies that offer it – read their policies to make sure they cover what you require.

Cheers

Jamie

Thanks for the kind words Jac M

2earlyor2L8 – do you have any non-deductible debt like an owner occupied property, personal loan, credit cards, car loan, etc?

If so, you really want to knock this debt on the head first.

If you don't have an owner occupied property right now, are you planning on purchasing one in the future?

All in all, IO with offset is usually the ideal structure (keep in mind that it's not usually necessary to have multiple offset accounts – one will do the trick. If you've got a PPOR, link it to that loan).

Cheers

Jamie

lol – Dubsteps comparison pics have disappeared so people are going to think I look like Ed O' Neil aka Al Bundy.

Cheers

Jamie

Which lender is this with?

How much is your current loan?

What is the estimate purchase price of your IP?

Option 3 sounds like your best option – but hard to comment on the info provided on whether a new lender for your IP is best.

Why they would even suggest option 1 is beyond me…..

Cheers

Jamie

A nice income can help but careful loan structuring, IP's that aren't negatively geared by heaps, low credit card limits and little or no consumer debt can all help with servicing.

I've got plenty of clients on what would be considered reasonably low incomes who have a number of IPs under their belt – they're just strategic in their approach and mindful of their longer term goals.

Cheers

Jamie

Hi Adrian

What industry are you in and how long have you been in it?

Like Richard said, there's quite a few variables which will determine whether it's possible or not.

Cheers

Jamie

Hi Sam

It's a second loan set up against your current property. For example, just say your current property is worth $400k and you were able to access equity up to 90% of its value, you'd have the following set-up:

Loan 1: $315k (current loan)

Loan 2: $45k (this is the equity release or sub loan)

The $45k would then be used to fund the deposit/costs on your next IP purchase.

If you are using cash towards the purchase, then it may be worthwhile paying down some of your current loan with the cash – and then re-borrow.

To provide an example, just say you were going to use $20k cash towards the deal. You could pay it off your current loan and then re-borrow so your set-up would look like this:

Loan 1: $295k (current loan minus $20k you've just paid off)

Loan 2: $65k (this is the equity release or sub loan)

Why would you do this? Because the $65k would be tax deductible. If you simply used $20k of your own cash and $45k in equity, only the $45k would be deductible, the $20k savings wouldn't be.

It wouldn't be a bad idea to get a decent broker to set this up for your properly – Richard who's already responded to your post would be able to sort this out for you.

Hope that helps.

Jamie

Orange has been on the radar for quite some time. I haven't been keeping a close eye on it but I doubt it would still be considered a hot spot – happy to be corrected though.

Cheers

Jamie