Replies Created | Forums | Jamie Moore | PropertyInvesting.com

Forum Replies Created

Viewing 20 posts - 3,021 through 3,040 (of 5,007 total)

« 1 … 148 149 150 151 152 153 154 155 156 … 251 »

Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 1, 2012 - 10:41 pm
Generally speaking because I don't know the specifics of your situation. If the offer is subject to finance, and the valuation isn't acceptable to the bank, it will result in finance being knocked back – there's your out.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
May 1, 2012 - 8:30 am
BOQ is the first to move and has just dropped their rates 35 points.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 30, 2012 - 12:51 pm
Verity01 wrote:
[
perfect example! we see this scenario often and one I often give my prospective clients something to think about. I think people forget that they have an assett worth a few hundred thousand dollars but arent prepared to spend say $4000 a year (tax deductable) to minimise risk and ensure the value of their assett is maintained.
I understand the sentiment but assuming the $300k IP is fetching $300 per week rent then a $4k PM fee p.a is 25% of rent – it's a bit steep. I wouldn't pay it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 30, 2012 - 12:41 pm
James from house of wealth is often recommended on the forums.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 29, 2012 - 11:06 am
Lol – Datsun 200B with an accelerator that had a tendency to stick to the floor (no jokes – it would literally get stuck). Imagine the expression on the folks face when instead of cruising into the drive way I speed pass yelling “I cant stop”
Fast forward a few years later and my current Nissan is a bit more reliable
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 28, 2012 - 9:59 am
Very good point and something that should have been pointed out a long time ago. One of the unfortunate downsides to a common name!
The QLD Andrew is a fantastic contributor to this forum and somersoft and I've had no worries referring my clients to him.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 28, 2012 - 8:51 am
No worries – will contact you on Monday. Have a good weekend.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 28, 2012 - 8:50 am
Catalyst wrote:
I feel you are going to greatly restrict yourself by looking for a house that is double brick, with a tin roof, with aluminium windows and tiled floors.
I agree with Catalyst. A sturdy IP is always good but when shopping for a property there's other factors that should probably take precedence. Such as the location of the IP – is it in a growing area? Will you be able to attract decent tenants? What's the yield like? Can you add value? How is it priced relative to other properties/pass sales, ect.
If you narrow it down further and look for something that's double brick, tin roof, etc – you'll probably cop a dose of analysis paralysis and won't end up buying anything.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 28, 2012 - 8:42 am
Hiya adzlea
I must admit, I read your post a couple of time and I'm still a bit confused with what you're asking.
My understanding is that you have two IPs, no personal debt and current rent? Is that correct?
If so, do you plan on buying another PPOR down the track?
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 28, 2012 - 8:38 am
soloinvestor wrote:
The insurance risk is not worth it. After successfully managing my 4 properties for years I finally got caught. Tenant did $10K worth of damage and insurance paid for $800!!! BECAUSE I did not have a property manager doing the required inspections etc etc!!
You need to ensure your policy covers self managing. But I get the point – there are certainly risks involved.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 10:28 pm
I guess it can depend on the location and enivronmental factors.
Our sturdiest IP which doesn't require much maintenance is double brick, tile and wooden floors. We replaced the kitchen and bathroom when we purchased it. Haven't heard too much from tenants over the last three years.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 10:24 pm
Hi there
I don't know what you currently have with CBA but I'd be looking at that first. Probably do an increase on that loan (can be set up as a seperate interest only loan or LOC) – this will act as the deposit/costs on IP 2.
I'd then set up a seperate interest only loan for the remaining funds required – probably with another lender that will offer a fully transactional offset (CBA's MISA, which is their offset is ok, but has limitations).
Using the STG portfolio as an umbrella loan for multiple properties can turn into a dogs breakfast.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 1:37 pm
Qlds007 wrote:
Aussie / mortgage choice etc have no greater ability to finding you the right loan than any other individual broker.
Totally agree. The most talented brokers I've ever met are all part of smaller, independent brokerages.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 1:35 pm
tb007 and QLD007 – is there a trend forming here?
No need to use your entire IP as security for the next.
You just need to access enough equity in your current IP to cover the deposit and purchase costs on your next IP – you can then source the remaining funds from the same or another lender as a separate interest only loan.
Don't know if I'd be refinancing to the STG portfolio.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 1:30 pm
Derek wrote:
Not 100% sure on SA and ACT.
For OTP in ACT it's based on the purchase price. For house and land, it's only the land that attracts duty. I could go into detail about the other states but a quick google search will return answers.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 7:31 am
Richard's being nice. Some of these franchises are more concerned about expanding their franchisee numbers rather than providing quality brokers.
How about giving Richard a call to discuss your options and then you can make a comparison between his knowledge and the broker you spoke with today.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 7:25 am
Hi there
This is something that will need to be agreed to by both parties.
There is an element of risk involved with this strategy. The most important being the issue of not settling – what happens there?
Having said that, I've done this before and it's worked out well. Speak to your legal rep about issues to consider.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 26, 2012 - 7:22 am
Agree with Chris above – Nathan is in your neck of the woods and clearly knows his stuff.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 25, 2012 - 10:43 am
I don’t know much about the OTP market in Brisbane but I wouldn’t be in a rush to purchase something OTP down here at the moment. Do a quick search on OTP or off the plan and you’ll get some good threads about the pros and cons. As for serviced apartments – most investors run for the hills.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
April 25, 2012 - 10:39 am
Hi Danny
You don’t need to spend a lot of money updating a kitchen. If the bench top and carcass are in good condition you might be able to get away with new doors, handles, sink and a flash mixer – a new splash back can also do wonders.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
Mortgage Broker assisting clients Australia wide Email: [email protected]