Hiya Pagey

I don’t know of anyone I could recommend in Tas – as mentioned above though, you don’t necessarily have to be in the same state as your service professionals. I worked with clients in four different states today – all over email/phone.

Looks like you might have to look outside of Tas for your accountant. There are plenty of recommendations on this forum for decent ones.

Cheers

Jamie

Our aggregators provide software – that software is updated daily with current bank products, ect.

Having said that – a good broker won’t usually rely on the software for coming up with a product recommendation.

Cheers

Jamie

Colin Rice wrote:

I work with accountants that are property investors and I know more about structuring finance than they do yet legally limited on how deep the advice gets never mind the average bean counter who often gives the exact opposite advice that is required.

I know! It’s a frustrating situation.

Cheers

Jamie

TRM390 wrote:

What lessons have you learnt both short and long term?

Hi TRM

If you’re considering purchasing in a different entity you’ll need to consult some professionals who will tailor advice to your specific circumstances. Speak with a good solicitor and accountant about the different entity options.

Agree with Mark though – the majority of clients I deal with purchase under their own name.

Cheers

Jamie

Need to check out your agreement with them – it contains all that info.

Cheers

Jamie

Hiya Shibby

Sometimes it can be beneficial to pay a smaller deposit and cop some LMI.

If the property turns into an IP down the track, you’ll have a larger loan to deduct from (and possible some LMI too).

You’ll retain some of your savings as a contingency buffer and/or for future opportunities.

I wrote an article for API magazine about this topic a while back – have a read.

Cheers

Jamie

You can’t go too wrong with depreciator.

You should have few options out your way – a quick google search should present a few.

Cheers

Jamie

Hi Solomon

Yep – it’s scary how incorrect the advice can be….and also how common this is.

I’m always tidying up structures that bankers have made a massive mess off.

It’s great that you were clued up enough to identify the issue.

Cheers

Jamie

Hi Woody

This all comes down to the LVR.

If the LVR is less than 80% then there’s no restrictions. I’ve recently carried out big cashouts for forum clients with no hassle.

Above 80% and CBA will want to see “evidence” of what the funds are being used for.

Not all banks have this requirement.

Cheers

Jamie

TheFinanceShop wrote:

Also add to that list professional athletes and people from the entertainment industry. They too are eligible for 90% no LMI.

That’s pretty cool – I didn’t know about the entertainment industry – then again, there aren’t too many celebs in Canberra :-)

Cheers

Jamie