BA's can be a good option – I cross paths with them quite a bit due to having mutual clients and some of the deals they can source look pretty good.

Choose carefully though – like any profession, the quality will vary.

You also need to make sure that they're truely independent and not spruiking off the plan stock in over priced high rise developments in QLD (a generalisation but I think you'll get the point).

Where are you looking to buy?

Cheers

Jamie

What Terry said – REA's will tell you what you want to hear…which is often an inflated value of your property.

At the end of the day, you should only sell it for what you believe it's worth. An independent valuation should provide some good guidance.

Cheers

Jamie

Yeah it can happen. I often negotiate discounted rates for clients who wouldn't normally ask or be offered them within the branch.

Cheers

Jamie

Hi Winadil

Welcome aboard.

1. Interest only with an offset on an owner occupied property works well when you're a disciplined saver and will continue to add a bit of money to your offset on a regular basis rather than just making the minimal interest repayments. This structure generally has two main benefits – the first being that if you ever turn your owner occupied property into an investment, you wouldn't have paid down  a portion of the principle (which becomes a tax deductible debt once it turns into an investment). The second benefits is that it helps with cashflow. Here's an API article I wrote that explains it in a bit more detail.

2. Yes – but it needs to be set up correctly. You don't want to use your entire owner occupied property as collateral for you investment property (which unfortunately is what many of the banks try to achieve). Having said that, it doesn't look like you've got a lot of equity up your sleeve. If the property was valued at $430k, you'd realistically only be able to access about $15k. This is because most lenders won't allow you to access equity above 90% of the properties value.

3. You can use any mortgage broker from anywhere in the country. Everything's done with email/phone these days.

Cheers

Jamie

One word  – TerryW

Cheers

Jamie

If you're renting you may need to inform your landlord because the nature of the business may impact on their insurance policy.

Cheers

Jamie

Hi smart cube

Welcome aboard.

You mention “saving on tax” a couple of times.

I think you need to change your mindset here.

Some of the tax benefits associated with property investing a great – but investing in property primary to reduce your tax bill is flawed because it involves losing money to get back a litte bit.

In terms of the type of property to purchase – you’ll need to devise a plan that fits with your risk profile and goals.

Cheers

Jamie

Hi WC

Good result – just goes to show that persistence can pay off.

Cheers

Jamie

Is your accountant able to provide credit advice?

Based on your goal, I'd look to spread that $160k over as many deposits as possible and probably consider 90% LVR loans early on.

Neutral/positive geared properties will help prevent you hitting a serviceability wall early on.

It's important that your finances are structured correctly from the start to end and that you choose the right lenders (and LMI providers) at the right time as you continue to accumulate properties.

Cheers

Jamie

I've had 5 schedules done up and have used a few different companies.

Personally I wouldn't stress too much about the immediate saving and rather focus on getting a good QS onto the job.

Cheers

Jamie