Replies Created | Forums | Jamie Moore | PropertyInvesting.com

Forum Replies Created

Viewing 20 posts - 3,861 through 3,880 (of 5,007 total)

« 1 … 190 191 192 193 194 195 196 197 198 … 251 »

Jamie Moore
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
July 12, 2011 - 9:32 pm
Hi Rowena
The best way is to use a property manager. Scope out a few before you leave.
It's also a good time to structure your finances correctly.
How are you funding the next purchase?
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
July 12, 2011 - 1:35 pm
Hi Ajay
Why risk it? Can't your new employer wait a few weeks? Surely they'll understand your predicament.
What's the LVR on the loan?
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
July 12, 2011 - 1:30 pm
Nice work Nath – inspirational stuff as always.
Love the car photo as well. I had to settle for the 350z instead
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
July 12, 2011 - 1:28 pm
colinnewland wrote:
Greysoneline.com.au
Almost – try http://www.graysonline.com
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
July 12, 2011 - 1:24 pm
Yep, it's an excellent website. I picked up a few bits for a kitchen we recently renovated. One of the best purchases was a refurbed rangehood that retails for $499 – we were lucky to get it for $99 plus postage.
There's also cheap ovens, sinks, mixer taps.
The website is actually http://www.graysonline.com (gray with an "A")
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
July 12, 2011 - 1:20 pm
colinnewland wrote:
Sit down WITH the seller (not the agent) and find out what their selling motivation is; do they need CASH TODAY?
I can't imagine there would be any real estate agents that would facilitate this. Most open houses are done without the seller present. Unless you knock on their door outside of inspection times (which won't prevent the real estate agent from being paid) and might frighten the sellers.
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
July 12, 2011 - 1:16 pm
That's a first for me as well. I'm with Holly – ask for written proof that states that they can actually do that. I would have thought something like that would fall under their admin fee which you would be paying each quarter for your 3 units.
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
July 12, 2011 - 9:27 am
Intrigue wrote:
I always explain to the agent my reasoning for my offer, I even try to present it in a way that helps them to communicate my position when talking with their seller. Maybe I am telling to much, giving myself away…
I don't think so. I always provide a reason for my offer in the hope that the agent will convey it to the vendors. It also helps establish some credibility – it shows you've done your homework.
I think Andrew made a great point above. It's probably due to the fact that the agents have forgotten you ever put in an offer in the first 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
Participant
@jamie-m
Join Date: 2010
Post Count: 5,069
July 12, 2011 - 9:20 am
wisepearl wrote:
The banks will have a limit as to how much equity you can withdraw, perhaps up to 80% of the value of the house, or maybe more – depends on many factors.
As a general rule, 90% + LMI is the max.
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
July 11, 2011 - 9:35 pm
Another option is to renovate and hold (as opposed to renovate and sell).
Here's a case study based on how my wife and I, as well as many of my clients, have used this strategy – http://www.passgo.com.au/blog/25-the-project/67-how-to-use-the-equity-in-your-home-to-purchase-an-investment-property
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
July 11, 2011 - 9:32 pm
Hi Tim
I don't think you can focus on averages. As others have alluded to – the good ones can do really well whilst the mediocre ones will struggle. I've seen both sides of the spectrum – and I wouldn't necessarily say it's all hard work and long hours that makes the good agents successful. There are other factors which I think Andrew mentioned that make up a good agent.
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
July 11, 2011 - 11:07 am
ksherwell wrote:
Listening to my friends, I hear the NZ is deader then dead. It may be a good time to enter, or even wait just a few more months for values to drop and pick up desperate sellers.
Any particular areas Kane?
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
July 11, 2011 - 11:01 am
naughtyj wrote:
Actually, if the property is located in the ACT (Canberra), I believe the stamp duty is deductable in the first year of purchase, so depending on where hsingh10 is purchasing the property, it might be worth talking to his tax person about.

Correct
It's one of the perks of purchasing an investment property in Canberra. We also have pretty decent growth and the yields aren't too bad either….and the vacancy rate is close to zero.
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
July 10, 2011 - 12:40 pm
Look at the factors that may drive the growth in the future. Is their infrastructure spending within the area? Is it a bad area that's steadily improving? Is the population of the area on the incline?
Margaret Lomas has a great book called 20 must ask questions. It provides some good tips on pinpointing a particular area for investing within.
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
July 10, 2011 - 12:35 pm
grantos_champos wrote:
http://www.onthehouse.com.au is pretty handy
Yep, this is one of my personal favorites
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
July 10, 2011 - 12:32 pm
Terryw wrote:
Hi Jason
What about my example where the loan is paid down by $100,000. If S then later wants to buy a place to live in then what would happen?
eg. 1
$100,000 would be availabe for redraw. S takes that money and uses it as deposit for the new house. But since this is personal borrowing the interest on the $100,000 would not be deductible.
eg 2.
$100,000 had been paid into an offset account instead of the loan. He takes this out and the interest on his investment loan would increase. That would mean the equivalent of obtaining a tax deduction on $100,000.
The interest on $100,000 is approx $7,000 pa. If S was on the top rate that would mean saving of around $3000 pa in tax.
Now imagine the exponential effect and image the added effect if the amount was larger.
Assuming S is not a spendshrift and can control his urge to spend the large amount of money in the offset, keeping the money there instead of in the home loan result in the exact same amount of interest savings.
The only difference is that he may be able to get a slightly cheaper rate by having a cheap no frills type loan with no offset facility.
Totally agree and I'm 100% with Terry on this one. I see it all the time – clients wanting to convert their current PPOR into an IP but have paid down so much of the principle that the remaining portion (the deductible debt) is extremely low compared to their new non-deductible PPOR debt.
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
July 9, 2011 - 10:18 pm
The franchises are only as good as the people working within that particular branch. That said, I haven't personally used the professionals for any property management – I've only heard/read reports that they're a good option. I wouldn't recommend the PM I'm using in Wagga – for that reason I won't mention them.
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
July 8, 2011 - 9:40 am
Solomon10 wrote:
Hi Jamie M, im not attacking you here, just wondered why your passgo site and facebook site has this property down as Steve and Sarah's story and their reno but on here you say it was done by your self?
Hi Solomon
Glad your paying attention
Steve and Sarah's story was fictional (loosely based on what my wife and I as well as many of my clients have done). It provides a simple explanation of how to add value to a property, access equity and reinvest. I didn't use specific people for privacy reasons.
That pic is my my loungeroom. My wife and I carried out that work (well, her dad pitched in a little as well). I thought it helped add some context to the content.
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
July 8, 2011 - 8:18 am
Haha, nice one Alistair
I hope you don't mind – I've shared it on our Facebook wall.
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
July 8, 2011 - 8:12 am
Mine isn't cheap – but the advice and service is more than worth 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]