Hi Amit

You can't go too far wrong utlising Nathan's services. He posts on here and somersoft sometimes – do a search and you'll find some of his posts. We've had some mutual clients and they all seem pretty happy.

Cheers

Jamie

Hi there

A simple excel spreadsheet should do the trick.

I have one that I spend 10 minutes updating each month.

I have a summary page at the front that has total income/ expenses for the year and a separate sheet for each IP which feeds into the summary page.

Cheers

Jamie

Does your current accountants service justify their fees?

I would be hesitant to compromise quality for costs – but that may or may not be the case here.

I've been told that Kevin Zani is pretty good http://www.beaumarisbusiness.com.au/

Cheers

Jamie

I wouldn't say it's an interesting initiative. It's a pretty standard response – if they want to boost the building industry, they offer an incentive to buyers. Not sure if it's the most effective way to go about things – it generally inflates prices which offsets the subsidy. Certainly looks good for the Government of the day though.

Cheers

Jamie

I haven't heard of them either.

Are they also selling OTP stock in QLD at the seminars?

Cheers

Jamie

Hiya Catts

Any particular reason why you're investing to bolster your tax return? That implies you're making a loss.

Don't get me wrong – I like the benefits of negative gearing but I wouldn't use this as the major driver behind my investment decisions.

Cheers

Jamie

Hiya

Welcome aboard.

It will sound biased – but you should speak with a decent broker. They’ll listen to your plans and help you devise a strategy. Ideally you’d want to work with someone that owns IPs and understands the ins and outs of mutli property finance structuring.

A financial planner can’t provide credit advice (unless they’re licensed to do so).

Getting it right from the start is important.

Cheers

Jamie

Hi jaq

Welcome aboard.

Your friend is right – you can’t have a subject to finance clause for an OTP purchase. I doubt any developer would allow this.

OTP (particularly in the current environment) comes with risks – obtaining finance being the biggest one.

Cheers

Jamie

Hi Streaker

Yep – on those numbers, a purchase of $265k is certainly possible.

There's no reason why you'd have to cross collaterise – but the bank will no doubt tell you otherwise.

Have you considered using equity for those renovations rather than your own cash?

Instead, you can keep that cash tucked away in an offset account and treat it as an emergency fund.

Cheers

Jamie

Hi Wake

I understand the confusion.

To me – generating wealth via property is about finding balance.

You need the capital growth to continue growing the portfolio – but you also need the cashflow to sustain it.

I have adopted a similar strategy to yours – except most of my purchases are in and around Canberra.

I buy properties that I can add value to (so I don't need to rely on time and capital growth to kick in) – the value add also means I can bump up the rent which improves the yield and leaves the properties close to being neaturally geared. I then tap into this newly created equity and move on to the next.

Cheers

Jamie