Hey John

I’m not an accountant but what you’re doing sounds fine. If you were redrawing the money from the actual loan it would be a different story – but taking it out of the offset should be fine.

Cheers

Jamie

Alan Fox from propertunity.

Cheers

Jamie

You can keep them uncrossed with the same lender.

I’ve set up that exact structure with NAB and other banks hundreds of times.

Cheers

Jamie

Hiya

Benny is spot on.

The two major factors banks look into is the deposit (or in your case equity) and an ability to repay the debt (borrowing capacity).

You could own parliament house and have $1 billion in equity – but the bank is only going to lend to you what they think you can afford….which is based of your income (PAYG or self employed earnings plus rental income) minus your liabilities and expenses.

Cheers

Jamie

Salvi23 wrote:

Any recomendations for good buyers agents to help source areas Australia wide .

Hi Sal

Which particular area do you want to buy in?

Buyers agents generally concentrate on a particular area?

Or was your first post a set up for spam responses?

Good BA’s are worth their money.

Can’t see how any of them could claim to select the best 2% of properties when it comes to CG though…..I don’t know how that could be measured.

Cheers

Jamie

Which area do they operate in?

Cheers

Jamie

Hiya

Are you comparing Bris and Syd or QLD v NSW?

I know Syd is reasonably low – which is a direct result of competition but other areas of NSW aren’t usually that low.

In any case – the difference of 2% (after tax) isn’t going to be too huge unless your properties are renting out for heaps.

Cheers

Jamie

• This reply was modified 9 years, 5 months ago by  Jamie Moore.

There’s still options!

Different banks have different methods of calculating borrowing capacity.

Some would still calculate your interest only debt of 4.5% at that (ie. they don’t inflate it)

Cheers

Jamie

Hi Newandkeen

20% deposit seems bizarre.

However – if you’ve got plenty of equity in your current property then releasing enough to cover a 20% deposit/costs would probably make sense in terms of avoiding mortgage insurance.

What’s the value of your current home and how much do you have owing on it?

Cheers

Jamie