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Jamie Moore
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@jamie-m
Join Date: 2010
Post Count: 5,069
November 12, 2014 - 11:01 am
Hi Clint
For GF deals I order an on completion valuation before doing anything. That gives me an idea of how much (if any) funds my client has to put towards the deal.
Generally speaking – that 80% figure probably seems about right.
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
November 12, 2014 - 10:59 am
I can tell you how to structure your loans but I can’t tell you where to buy your 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
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@jamie-m
Join Date: 2010
Post Count: 5,069
November 12, 2014 - 10:58 am
Hi there
Student apartments rarely make for good investments.
Banks don’t like them – and will restrict you to loans of 70% and less.
There’s usually bugger all capital growth.
The rental yields seem ok on the surface – until you look into the management fees.
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
November 12, 2014 - 10:51 am
Inthedeep wrote:
You don’t necessarily need to buy property through “a group”.
Agreed. A group = middle men making a commission which has to come from somewhere.
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
November 12, 2014 - 10:50 am
Hi Buddy
You’re not going to get too far with $20k savings for an IP purchase.
If you’ve got equity it’s best to use it – and if the purchase is for another IP it will be deductible anyway.
You should get those loans uncrossed too.
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
November 12, 2014 - 10:47 am
Hi and welcome aboard.
I’m not a west Sydney investor but do have a lot of clients who have and continue to purchase in the area.
Personally – I think it’s too late at the moment. The market has moved quickly – I’ve had some valuations come back 30% higher for properties purchased two years ago.
The cashflow from GF’s is pretty good 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
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@jamie-m
Join Date: 2010
Post Count: 5,069
November 5, 2014 - 10:45 am
Try Nick Moustacas from Strategic Wealth.
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
November 4, 2014 - 4:56 pm
Cars are a waste of money. Sell the car, buy something cheaper and put the money in 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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 28, 2014 - 10:28 am
Hi Kevin
Welcome aboard :-)
Start by educating yourself. There’s tonnes of books out there – and forums like this are a good resource too.
When you’re ready to roll – surround yourself with a good team of professionals. An accountant and finance person are a must.
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 27, 2014 - 10:39 pm
Shouldn’t be an issue at all.
They aren’t taking ownership of the 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
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@jamie-m
Join Date: 2010
Post Count: 5,069
October 27, 2014 - 10:38 pm
Hi there
Welcome aboard.
Are you sure this advice is coming from an independent buyers agent working for you or is it coming from a property marketing company that sells OTP property and reaps sizeable commissions?
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 27, 2014 - 10:34 pm
Hiya
Welcome aboard :-)
Smart people recognise that they can’t excel in everything – so they outsource what they don’t know to the pros.
Get a good finance person and accountant on your side and you’re already half way there.
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 27, 2014 - 10:30 pm
Biggest bang for your buck would be:
– A big clean up
– Painting
– Yard tidy up
– Flooring
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 17, 2014 - 1:58 pm
Do you allow pets?
If not – would you consider?
That usually helps generate a bit more interest.
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, 2014 - 1:57 pm
Yep – I’ve only heard good things about him too.
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 6, 2014 - 7:48 pm
Hey Sam
Welcome aboard.
Nothing wrong with aiming for a mix of growth and cashflow – it’s what I’ve personally done.
As mentioned above though – there’s no solid answer that can be given as there’s no one size fits all with property investing.
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 6, 2014 - 7:40 pm
Hi Shelle
Welcome aboard :-)
The best advice to give at this stage is to educate yourself. Spend time on forums like this – they’re free and are full of up to date information.
There’s also plenty of property investing books out there – all explaining different strategies/approaches to property investing.
There’s also a few national magazines that are worth reading (in my opinion) when starting out.
Best of luck!
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 4, 2014 - 7:10 pm
bla0018 wrote:
Okay awesome cheers for the response so can the bank reject the offer for a full valuation ?
Technically they could – but if going via a broker they should be able to avoid that occurring or have that decision overturned if it did.
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 4, 2014 - 7:07 pm
Hi Andrew
There’s no shortage of banks that will lend to a family trust. Any descent broker should be able to assist.
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
September 30, 2014 - 4:28 pm
Hiya
You’ll just need to let your finance person know that there’s been significant renos and a full val is required over a desktop.
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]