Forum Replies Created
No wasn't BMT – I can't remember who it was, would need to check. Possibly corpred.
$2k deduction – which is still a greater saving than $500 (and that's only one year of deductions – it will continue for a little while yet).
Why don't you use one of the online depreciation calcs to get an idea of what you can claim.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Depends on your individual risk profile, investing strategy and serviceability.
What are you aiming to acheive out of property investing? Do you have some sort of plan in place?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Besser blocks are quite cheap and sturdy. You can render and paint – I've done it and it looks good.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
propertyboy wrote:What about for a property that is older than 40 years old? Where effectively I can only depreciate the renovations?I claimed over $2k on a 40 year old property last FY….report cost me $500.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I've never seen a depreciation schedule that hasn't paid for itself within the first year or two – even on older properties.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Markyinvest wrote:thanks Richard, I am looking to stay with the one lender but someone who is generally cheaper. Perhaps im a little naive but a friend said that they are with NAB and find that they have been cheaper than the majors?No – it's a general statement.
It all depends on the total borrowings, LVR, what you (or your broker) are able to negotiate and which bank is most hungry for business at the time.
I understand that you're very rate sensitive (from this and other posts) – if rate is your primary reason for refinancing then it may be worthwhile looking outside of the majors.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Like Richard said – there's too many unanswered questions to provide an accurate response. It might be worthwhile contacting a decent broker to explore your options.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Well done guys! I'll have to check it out.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Terryw wrote:Avoid cross securitising at all costs. It is not necessary and can be avoided.Agreed – it's a nightmare.
If the bank will do the deal via cross coll – than there's no reason why it can't be done as stand alone. It requires a bit of extra work – but it's worth it in the long run.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Mark
Fixed rates are good for those that need certainty in their repayments – from that perspective, they can be great for budgeting.
On the flipside, fixed rate loans are usually inflexible. There aren't many that allow for a 100% offset to be attached and if you need to exit the loan during the fixed period you'll probably be hit up for large break costs.
If you are seriously considering fixing your loan – you should also consider keeping a portion of the loan variable so you can take advantage of the normal features associated with a variable product.
Fixed rates are quite low at present – whether they'll go down or up is anyone's guess.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Mark
Welcome aboard.
Is there anything specifically wrong with your CBA loan apart from the rate?
If it's the cheapest rate that you're after, you'll find the cheapest rates provided by online companies.
Having said that – cheap doesn't (and rarely) equates to best and the company with the cheapest rate can become quite expensive in a short period of time.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
TheFinanceShop wrote:Hi Kate, You can either cross securitiseWhy would she do that?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Generally speaking, yes you should.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
WomeninPropMelb wrote:Jamie, The tenant has to agree to go on the TICA register so I dont even know if anything on that would be useful or relevant. I guess if the tenant has agreed to go on it- then their history must be clear.Or they went on it before their record became tarnished.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
If you do decide to render it might be an idea to actually paint the render rather than using a coloured render. That way – if you get chips in it, you can touch up with paint so maintenance should be easier.
Use a decent paint though – there's specific ones for rendered surfaces.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Toshie7 wrote:Hi, Renovating under house where my mother lives upstairs. Downstairs self contained flat with separate entrance and two bedrooms 1 bath 1 garage. Open for business mid August. The problem I have I do not wish a property manager. I do wish to check on potential tenants. I also do not wish to go to the cost of setting anything up either. My mother has been given details of two women who may wish to take it on. One single woman and one with a young daughter. Is there anyway to pay by search on tenant database. As there are only two so far, and as my mother would prefer woman 1. Clean and 2. Safe. Well she is 74. Toshie7You can do a couple of things.
Firstly ask them for references – a real estate reference in this situation is ideal because they're generally impartial whereas a personal reference isn't worth a whole lot.
You can also pay for a TICA search (do a google search on this) – this is what the professional PMs use.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
WomeninPropMelb wrote:Well I did say the Real Estate Agents do it for free.
I have found agents in the area to be spot on when I have told them what I want the appraisal for.
Maybe you choose agents that are not all that good when you get inflated prices Jamie – or you are not clear on what you are looking for?Hiya
Not specifically referring to me – rather its clients who say “the real estate agent said it was worth x” and then the valuation comes back quite a bit lower. I see it all the time – across each state.
If the OP wants a clear understanding of how much their property is worth than a full, independent valuation is the only way it will be achieved.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
JohnDoe wrote:My next question is – Should I have an initial meeting with at least two accountants and then make a decision?Sure – but you'll probably have to pay for two appointments.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Landlord and building insurance – do a quick search on the forum and you'll find a heap of posts providing recommendations.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi John
Like Richard said – with technology, distance these days is not an issue providing you can write an email and scan/fax documents.
Last week I dealt with clients from every state accept NT and even a couple from o/s
I know Richard is in Canada right now and no doubt still putting in some hours with his customers across Oz and overseas.
There’s no need to limit your search to a 30 minute drive when looking for good advice from any professional.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
