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  • Profile photo of Jamie MooreJamie Moore
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    Thanks for sharing Andy, it’s a great read. Do you mind if I share it on our our Facebook page?

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Agree with Solomon – it can add quite a bit of value. We’re getting our latest property rendered in a couple of weeks time – I’m confident it will add a fair bit of value.

    Ours is being done by a friend so can’t really comment on how much it should cost.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Hi Carmsie

    How are you structuring the loan for the 2nd IP purchase?

    Was the approval of $420k from one lender or from a broker? If the former, then you might want to look at having your borrowing capacity evaluated by a broker who has access to numerous lenders. Who knows – you might be able to purchase a house after all.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Hi Jlillian

    Keeping in mind that I’m not an accountant and would always insist that you seek professional assistance, I believe a valuation would only be necessary if you lived in the property and converted it into an IP down the track. If this were the case, then a high valuation at the time it becomes and IP would be beneficial.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Hi Emma

    That’s great news – it’s always good to hear a positive story.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    In Wagga, the DOH properties are auctioned off by LJ Hooker (I think they might have an exclusive agreement with DOH). I’ll try and track down the last email I received from LJ Hooker with their upcoming DOH auctions.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    ksherwell wrote:
    always shanking a woman hand

    I assume you mean “shaking” :)

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Nice one Steve. Are the 10 other properties in the Wagga area as well? Hopefully the renos increase the val to around the $160k mark which will give you around $40k in equity to access….enough for a few more 90% lends on $100k properties :)

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    grantos_champos wrote:
    managed to catch ross greenwood on the today show the other morning giving this a wrap
    search for RPDATA on facebook the click on the free property valuations
    might be handy on your property research

    Here’s the link for anyone that’s interested http://www.facebook.com/rpdata

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Hi Steve – I’m confident it will. What was the initial LVR and are you carrying out most of the work yourself?

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    free wrote:
    As the subject suggests, all the savvy investors can you please advise how do you manage time

    My iPhone :) I don’t know what I’d do without it. I track my to do lists, catch up on emails, schedule meetings and even use it as a GPS. You can even use it for IP searches.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    davebeth wrote:
    Hi all,

    This is my first post and am relatively new to the investing arena. Has anyone got an opinion on the hunter Valley as a developing hot spot? I have heard and researched a bit about musswelbrook and the infrastructure going in and the increasing production planned for the mining sector etc and it all sounds positive.

    Ant thoughts would be appreciated. Thanks

    I must admit – Musswelbrook has been popping up quite a bit these days. I think Terry Ryder gave it a mention recently in one of his many reports.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    I haven’t picked up a copy but I’ve heard Paul Do’s I Buy Houses is a good read.

    Margaret Lomas’s 20 must ask questions is good.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Joanna – New Investor wrote:
    I have already identified 3 – 4 areas I am interested in investing in, I've started to research them – however when I have saved another 20% deposit (in 3 – 4 months) I want to be sure I get a good deal.

    As an expat it’s possible to take out a 90% loan (meaning you require less of a deposit – this should help you reach your goals).

    Some BA’s charge a fixed rate, some charge a percentage of the purchase price. Try Andrew Allen who posts on here – he’s a buyers agent in QLD and is a regular contributor to this forum and others.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    I agree! Read the cocktail menu :)

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Hi Debbie

    Do you anticipate ever turning your next PPOR into an IP? If so, I wouldn’t pour too much money into the loan at the start (it will reduce the level of deductible debt – which isn’t ideal if this property is ever converted into an IP).

    I’d also look to keep some of your cash in an offset account – just in case cashflow is an issue, it’s always good to have some money available.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Hi Elisey

    I wouldn’t be keen on selling a property if the proceeds wouldn’t be enough to cover my costs.

    Is their anything you can do to it to add value before you sell 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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    Hmmm….personally, I wouldn’t be rushing out to buy another IP right now and I can totally understand why the idea isn’t all that appealing to you right now.

    To answer your question, yes – you’d have to disclose all liabilities whether you’re purchasing an IP or a PPOR. Having two IPs under your belt (one if which is so negatively geared) will impact on your borrowing capacity when purchasing your PPOR. Obviously it’s also dependent on your income and any other liabilities.

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    Hi B2 luck

    I’d look to take out a loan of around $360k for your next IP (80% LVR – which avoids LMI)

    This means you’ll need to access about $105k in your current IP which should give you enough for a 20% deposit and purchasing costs.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Jamie MooreJamie Moore
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    That’s a pretty good buy. It should be worth a fair bit more after the tidy up as well.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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