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Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 15, 2011 - 10:26 am
johk wrote:
Hi, I am only trying to figure out how much it would cost me per month to hold a property. The numbers ie the IP value and then proposed rent are from a property on RE.com that was for sale.No we are not looking at buying a property now but merely trying to learn how to calculate the holding cost of the IP.I would appreciate any comments/feedback on how calculate the fortnightly holding cost of the IP Thanks,johk
Hi Johk
I probably should have mentioned this before – if you plug your numbers into this spreadsheet it will give you an estimate of the holding costs – http://www.passgo.com.au/investment-property-analysis-tool.html
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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Join Date: 2010
Post Count: 5,069
October 15, 2011 - 10:19 am
propertyboy wrote:
I cant see anywhere wheter I have an offset account and I dont really want to have this loan set up then find out I dont have one.
No stress – it's easy enough to set it up in branch (providing the loan product allows 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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 15, 2011 - 10:17 am
sunni1 wrote:
have a house worth 700,000 with a mortgage of 300,000 have an income of 80,000p.a. how do I get started with ip's
Work out your end goal and devise a strategy from that.
Surround yourself with a good broker, accountant and others with a similar interest/mindset.
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 14, 2011 - 10:20 pm
wealthcreation wrote:
Thanks, Richard. Yes, it will be a new lender for the new loan. Instead of "Re-Draw" what is the appropriate word? Is this kind of Split loan called Line of credit home loan or equity home loan ? Or some other name? Any online information about these kind of loans ? I am happy to look up if I know what this thing is called in Bank's language. Any idea how much time banks take for the Split loan application ? First, I am trying to settle the home loan with the new lender and take do the Spilt loan application with old lender. Is this making sense? I am planning to time this along with the settlement date which is about 4 weeks from now. Cheers, WC
Hi WC
Why not save yourself the hassle and just get in touch with Richard who will structure it correctly for you. You have nothing to lose.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 14, 2011 - 10:16 pm
matthew.f wrote:
Any thoughts.
Try another bank.
If there's a broker organising the deal they should be able to make some calls to see which lender will accept it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 14, 2011 - 9:05 am
Qlds007 wrote:
Hey Jamie keep up pal lol
You posted it 1 minute after me.
Cheers
Yours in Finance
Haha – I just noticed
Welcome back to Oz.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 14, 2011 - 9:02 am
Shanina wrote:
My husband and I currently buy properties and renovate them on the gold Coast. We are considering moving to Brisbane and doing the same thing but don't know which areas to even begin to look at! Can anyone suggest which areas to begin to look at to buy renovate and sell? appreciate any feedback!
Andrew Allen is an excellent BA up there and posts regularly on this forum. He might be have some suggestions.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 13, 2011 - 9:29 am
Jamie M wrote:
That entry might be used by API magazine in their upcoming newsletter.
The condensed version that made it to API is here for anyone that's interested.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 13, 2011 - 9:26 am
Scott No Mates wrote:
a bit of tongue-in-cheek Jamie. Property is too big an investment to go into lightly. gens x & y will need to acknowledge that they can't simply run off to Jools & Swanie to change the investment framework just because long term, commitment & informed consent don't meet their requirements.
Haha – I'm with you.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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October 13, 2011 - 9:22 am
It can't hurt to ask.
Are the other properties within the same location? If so, are you happy with the other PM? If not, could be a good opportunity to bundle them all together and offer them to this PM at a negotiated discount.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
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Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 13, 2011 - 9:20 am
Simky wrote:
would you get an inspection done ?
Absolutely! This is money well spent. If possible – try to be present during the inspection so you can have a quick chat with the inspector. If you can't be present, give them a buzz afterwards to quickly discuss the report.
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 12, 2011 - 10:34 am
Scott No Mates wrote:
The govt. Has provided the get out early card so it'll make life interesting if there are no exit fees.
I don't know if the Govt. early exit fee ban will have much of an effect. If someone wants to jump ship now – chances are their loan was taken out before the introduction of the legislation so they might still be up for early exit and discharge fees. If they fix their loan – they prob won't benefit from a refi because the break costs will be too high.
I wrote an article for API recently on the topic 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 12, 2011 - 10:27 am
Shape wrote:
and im also only 27 + still living at home like a true Asian
I always assumed I was the young broker on the block…..I just hit the ripe old age of 29
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 12, 2011 - 10:24 am
Hi there
Are you buying or selling this place?
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 12, 2011 - 2:19 am
Bradw82 wrote:
Hmmm… what just happened to this topic ???
Hi Brad
The site was spammed really bad overnight….lots of random threads about rolex's and German email addresses……looks like it's all been cleared up now.
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 12, 2011 - 2:18 am
Andrew_A wrote:
[Just pointing out that people really do run out of the shop when prices are falling, and of course most are buying near the peaks.. and I'm sure will be again!
Humans……we're a funny bunch.
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 12, 2011 - 2:11 am
Wow, that spam attack was crazy. I logged onto the site this morning and it was 90% spam.
Big thanks to the mod for cleaning it up.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone Me
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Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 12, 2011 - 2:07 am
SHales wrote:
Thanks fo the suggestions. Great stuff. I've drafted a letter and sent it to the new pm to look over. It is tricky as we are in the middle of lease renewal with a long term tenant, too. Won't manage myself as it is about 1500km from where I live. Cheers.
Can you wait until the new lease is signed? Might make things a little easier.
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 11, 2011 - 11:52 am
Hi Jack
Welcome to the forum.
Dolf De Roos has a decent book called 101 Ways to Massively Increase the Value of Your Real Estate without Spending Much Money
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 11, 2011 - 11:19 am
Scott No Mates wrote:
if the property is currently leased, there is precious little you can do about the presentation by the tenants, that's the way they live. If the house was vacant a stylist could provide you with as little or as much as you require – from furniture to rugs, accessories, artwork Etc……. Cost will vary with the services provided & length of hire/eot. They will also advise if you need to touch-up painting in specific rooms.
Totally agree with Scott here.
I've seen what student houses look like
Do you need to sell right now? It might be best to wait until their lease is up. The house will present better so it will hopefully sell for more.
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]