Get professional help Ranger – I’ve seen many bankers stuff this up!

Cheers

Jamie

Welcome aboard :-)

Cheers

Jamie

OTP + financial planning company don’t mix. There’s only one side making money in this transaction – and it’s not the purchaser.

Reduce rent if you’re struggling to get new tenants. If your property manager isn’t proactive – look at using another.

Are you claiming all depreciation? That might soften the blow a little bit.

Cheers

Jamie

Agree with Richard.

That’s one of the issues to consider when applying for a loan – and then arranging a discount on the purchase price.

The bank will lend against the new purchase price – which means the loan application needs to be reworked.

Cheers

Jamie

Lisette57 wrote:

Is there an investor out there that could recommend somebody who can help form a portfolio plan that suits my needs? Looking to strategise and open to anything, just need somewhere to begin and actually see my path.

Hi Lisette

Welcome aboard :-)

There’s heaps you can learn yourself just by reading up on these forums, books, investment mags, etc.

Take time – read widely, ask questions – and when you’re ready to do, find a good team of people to assist (accountant and finance person are important).

Cheers

Jamie

CharlieX wrote:

clients want to get the maximum equity out, currently about $330k equity in these two properties. they looking to use whatever equity they can out to build more properties or businesses.

Wait – what. Are you the mortgage broker asking on behalf of clients?

Cheers

Jamie

Hi Charlie

It’s impossible to answer.

The game is changing quickly.

Best you can do at the moment is start with a good foundation lender – probably a big 4 lender that doesn’t have overly rigid policies. Then move onto a more generous lender (in terms of their borrowing capacity calc) such as lenders within the Nab group and then save the non regulated lenders/mortgage managers to the end when you’re getting close to hitting a borrowing capacity wall. This is a very general statement though – and may not suit your needs at all.

In terms of max LVRs – 90% is still possible. Releasing equity at 90% however is becoming more difficult.

Cheers

Jamie

Hi Kristy

Best to form your own team of independent professionals. A good broker and accountant would be a good start. Some of those “property advisory” companies are one stop shops spruiking off the plan developments for large commissions.

Don’t rush into anything – educate yourself, read widely and continue to frequent forums like this.

Cheers

Jamie

Hi Damo

What do they offer and what do you require?

Are they financial planners, a mortgage brokerage, accountants, everything?

Cheers

Jamie

Bye bye AMP – not a lender that I’ll be using in the foreseeable future. The cheap owner occ rate is appealing – but there’s literally nothing on offer for investor clients.

Cheers

Jamie