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Jamie Moore
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@jamie-m
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Post Count: 5,069
October 22, 2011 - 10:42 am
I'm not quite following.
Did you use a mentor type company that operates as a one stop shop for investors?
What have they done that you're not happy about?
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 22, 2011 - 7:29 am
I'm sure Terryw will be around shortly to give you a good description of the two.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 21, 2011 - 11:17 am
Deal Maker wrote:
Hello Sam, If you looking at Queensland you might want to consider the Logan area (Woodridge, Kingston, Logan Central, Marsden, Crestmead and Slacks Creek etc.). You can pick up properties if you buy well around the $210,000 mark that will rent out for $310 to 320 per week. Kind regards, Jason Moore & Sherry Ortiz
Hi Jason
Can you see Logan picking up anytime soon? I've kept an eye on the market and it looks like it's been heading south for the last couple of years.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 21, 2011 - 11:15 am
new2invest wrote:
Thank You all. Loan has now been Split. Got depreciation report done as well and came at 14700. Loan structured to claim 100%. Tax Variation form 2011-2012 all completed waiting to be lodged after settlement.
It's great to hear it all worked out for you.
All the best in the future.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 20, 2011 - 11:46 am
Might be worth while getting in touch with Michael above to help you 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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 20, 2011 - 11:41 am
Hi Nathalie
Welcome to the forum.
Places like this are a good start. It's a great free resource.
As mentioned above, there's a couple of IP related magazines you can pick up (Australian Property Investor and Your Investment Property) as well as a number of books (some of which can be picked up in your local library) – https://www.propertyinvesting.com/forums/community/heads-up/6845
Stick around – ask questions and continue to learn.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 20, 2011 - 11:26 am
Hi Legend
Do you plan on moving back into this property?
Do you have any other debt? Car loan, personal loan, etc?
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 19, 2011 - 8:50 pm
John_Thomas wrote:
I'm new here. I just want to answer the question, I'm not buying "yet" because I'm really trying to look at properties, and basically looking for a reliable agent/company who will help me and will answer all my questions. I already have some properties and I've been talking to some people, but you know, this is a major decision that I should really look into.
Hi John
Welcome to the forum.
If you're talking about a "real estate agent" I wouldn't rely on their information but rather my own due diligence. This is not to belittle REA's – but I wouldn't purchase a property based on the reliability of the agent but rather whether it ticks all the boxes for me and the numbers look good – based on my own analysis.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 19, 2011 - 12:45 pm
Shape wrote:
Qlds007 wrote:
Yes Michael dont you love the Bank West Pre-approvals.
We approve your loan conditional upon you submitting a new application and all supporting documentation and we going through it with a fine tooth comb and seeing if there is any reason why we cant decline it.
Luv those lenders.
Cheers
Yours in Finance
God bless them,…they sure make our job more interesting Regards Michael
Possibly the most painful lender to deal with IMO. Bankwest = premature greying of the hairs.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Mortgage Broker assisting clients Australia wide Email: [email protected]
Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 19, 2011 - 12:41 pm
Maybe some people are just shy
I think there's probably more lurkers than posters. I often have clients come through this forum who have been visiting it for years but have never signed up and posted.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 19, 2011 - 12:37 pm
Shape wrote:
Your broker might want to give AMP a call Regards Michael
Yep, AMP are great when the old serviceability wall is in site. If the deal is sub 80% then they'll take 100% of the rental income. Also, they don't load other lenders loans when assessing serviceability (others might assess the loans you hold with other financial institutions at a rate 2% higher and on P&I).
If serviceability is really tight – look at fixing some (or all) of the loan. They assess the serviceability on fixed rates differently.
That said though – you need to make sure you can afford it! Look at your income/expenses and make sure that it won't be placing you in any financial hardship.
I recently wrote a blog entry on improving your borrowing capacity here
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 19, 2011 - 12:31 pm
Hi Johk
If you're talking about vendor finance then Paul Dobson who posts on here is your man.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 18, 2011 - 8:59 pm
Another important variable is employment history – particularly if the deal falls within LMI territory.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 18, 2011 - 9:58 am
Good advice from the guys above.
Are you moving into another job? If so, is it in the same field and will there be a probationary period?
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 18, 2011 - 9:54 am
wisepearl wrote:
something which has been suggested a few times in recent property magazines (API and YPI) for young couples wanting to get started and without a current PPOR is to buy a house in need of renovation, and move in. Buy with the view to renovate and sell or convert to IP, but move in, claim FHOG, and over the timeframe of 6-12 months complete the renovation yourselves. Then either sell it, or get it revalued and use the equity to get IP #2. The magazines are a great read and have real life stories and coaching tips. Could be something worth considering.
Yep – I like this option. This is the same method adopted by many of my FHB clients.
It really isn't that difficult to add value to a property. If you can pick something up that's just in need of some cosmetic renovations and avoid over capitalising, then you're onto a winner (in my opinion).
Once the renos are complete. Get it revalued – access the additional equity and use it towards your first IP….then repeat
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 17, 2011 - 10:59 am
Hi Skye
The single biggest issue we (wife and I) found with PMs was a lack of communication (with all parties – us and tenant). We had one PM who took 3 weeks to find a tenant for a property which hasn't been vacant for one day since we started self managing. I think a lot of it has to do with communication. We return calls/emails straight away and show people through the property on short notice. I suspect the PM wouldn't have shared the same enthusiasm for placing a tenant.
We now self manage all but one.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 16, 2011 - 11:00 am
The property is in Calwell.
We painted the house a light grey and we painted the front retaining walls, down pipes, door, etc a darker blue. Once I tidy up the landscaping and add a second coat I'll post some before/after pictures.
I don't think I'll pick up a paint brush for another week though
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
October 16, 2011 - 10:04 am
Angel 13 wrote:
Hey, I'm Angel from Canberra. Looking forward to hanging out with people who share my passion.
Catch you all soon.
Always good to see another Canberran on the forum. Welcome aboard
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 16, 2011 - 10:02 am
Angel 13 wrote:
P.S. Jamie, I found this forum through the link on your website. Thanks heaps!
No worries at all.
I'm feeling your pain in regards to the painting! I just spent a good 12 hours today painting the house. I'm thinking it's off to bed early tonight.
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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 15, 2011 - 12:42 pm
veseli wrote:
Any thoughts on this…
My thoughts are that it's morally wrong. You have to draw the line somewhere. Even if there is a loophole in the law – profiting from this situation is (in my opinion) not right.
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]