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  • Profile photo of Jamie MooreJamie Moore
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    January 17, 2012 - 9:00 pm

    As Richard  said, 90% on probation is certainly possible and you'll still be able to get a decent product.

    Give Richard a buzz – he'll be able to sort it out for you.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 17, 2012 - 8:49 pm

    Hi IDV8

    Best to speak with a mortgage broker that deals with investment properties.

    You could potentially have the best of both worlds by buying the right property as your first home and adding some value through cosmetic renovations. If the property is valued higher than what you purchased it for – you may be able to tap into the newly created equity and purchase your first IP sooner than you think. Sure beats saving the money :)

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 16, 2012 - 10:49 am

    I was keeping a close eye on Logan a couple of years ago. The prices seemed to have dropped further since I was interested. The location is great – the socioeconomic situation is not the best. But if you're after something with a good yield at a relatively low price then Logan isn't a bad option. Just check that the body corp fees aren't too high if purchasing a unit/townhouse.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 16, 2012 - 10:43 am
    Chris89 wrote:
    With that said im not necessarily in the best posituion to invest, so im not too phased as to whether I putr an offer in or someone else purchases.

    Perhaps it's best to wait until your situation improves before purchasing your first IP. If cashflow is the issue – you really don't want to overstretch yourself early on. It won't be a nice experience.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 16, 2012 - 10:38 am

    I guess the moral of the story is to not always listen to the bloke at work.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 15, 2012 - 8:56 pm

    Hi dodo_lurker

    There's no clear benefit unless your friend is fairly confident that the negatively geared IP is going to experience enough capital growth in the future to offset the losses from negative gearing and also make up for the opportunity cost of selling his other IP.

    It's nice to be able to claim the losses associated with an IP…..but you must make the "loss" first in order to claim it. Therefore, investing primarily to reduce your tax bill is flawed. The tax breaks associated with investing should be seen as a bonus and not the main reason for investing.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 12, 2012 - 9:25 pm

    Hi Archie

    Welcome to the forum.

    Prob best to have a chat with a broker/banker about your borrowing capacity and the feasibility of either purchasing a PPOR or IP.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 12, 2012 - 9:49 am
    Tarek Baytieh wrote:
    Hi Tiger

    To keep the properties from being cross collaterised, Loan A = PPOR (joint names), Loan B = using equity from PPOR to pay for purchasing costs (in fiancees name) , Loan C = new loan to cover the cost of the house (in fiancees name). (Does it matter if loans A-C are with the same bank?)

    Let's just clarify… you wish to borrow 100% + costs (no problem here).  Loan A sounds okay.  Loan B sounds okay.  Loan C – if this is to be 100% of the purchase price, then it would be crossed with the PPOR. If it is to stand alone, then Loan B will have to include the 'deposit' to allow C to stand alone (or a loan D against PPOR).  Does this make sense?

    Good luck & Take Care
    T

    Hi Tarek

    I think you may have confused matters a tad. The structure the original poster suggested was fine.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 12, 2012 - 9:43 am

    I read that first post and though $240k!!!! Wow!!! I must be looking at the wrong properties.

    I'm far from an expert on the areas but I'm slowly getting to know them.

    What are your plans with the property? Is it buy and hold for a lengthy duration or will you sell in a short time frame?

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 12, 2012 - 9:37 am

    Hi AJ

    We have a fair few handy links here – http://passgo.com.au/property-data-websites.html

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 11, 2012 - 11:31 am
    Derek wrote:
    Maybe a buyers agent otr similar.

    If you are going down this line – work out you rmust haves and get them to do the job for you.

    Yep, that's what I'm doing for the next IP. I don't have the time or energy to search around.

    With the BA, I can provide a description of what I'm looking for and leave it in their hands.

    They're not cheap – but given the time saving and access to deals that may have not hit the market, I think it's money well spent.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 11, 2012 - 11:20 am

    Welcome aboard :)

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 11, 2012 - 11:18 am

    Hi Matt

    Welcome to the forum.

    I agree with what Derek said. A good broker will assess your situation and advise on how to proceed with your next purchase. I wish I could offer more but there's not enough data to comment further.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 10, 2012 - 8:47 pm

    Hi Adzlea

    Welcome to the forum.

    What sort of advice are you after?

    If it's financial advice then use an independent broker that understands the ins and outs of IP financing. If you're after someone who will advise on the actual property, then hire an independent buyers agent.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 10, 2012 - 8:45 pm

    Yes – it will probably still be worth it.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 10, 2012 - 10:15 am

    Hi there

    I'm not 100% sure of the correct answer but I'd assume since you haven't exchanged contracts you won't have too many rights. I've been in this exact situation before – we didn't end up buying the property but that was because of a different reason.

    You could threaten to pull out of the deal – that might make them change there mind. There's also the risk you'll lose out on the property though.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 10, 2012 - 10:10 am

    I think Richard Taylor has provided some good recommendations for accountants in Brisbane recently. It would be worth while trying to hunt down those posts.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 10, 2012 - 10:09 am

    Yep, it's quite handy. Always good to have a quick reference point to see how markets across the country are performing. It amazes me that this is still free – I'm sure people would be willing to pay for it.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 9, 2012 - 7:55 pm

    Hi and welcome to the forum.

    Let them threaten. It’s an arduous process that they probably won’t go ahead with. If they’ve already signed the form to release the bond to you then that’s an indication that they agree that you should be compensated due to the condition the property was left in.

    It just sounds like scare tactics to me. I’d get their bond, clean up the place and move on to the next tenants.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    January 9, 2012 - 10:20 am

    I don't know if it's a good idea. There's already so much spam on this website. Having an area on the forum that enables users to post "good" property deals will probably result in more spam.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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