I'd shorten that by heaps – probably keep it valid for 48 hours so it really provides a sense of urgency.

Cheers

Jamie

Hiya and welcome aboard.

Which lender is this with? There aren't many lenders that will link up an offset account against a fixed loan. You can get around that by keeping a portion of the loan variable and linking an offset up to the variable loan.

Are you planning on purchasing an owner occupied property at some point in the future? If so, I wouldn't be putting $150k into your investment property and I definately wouldn't be aiming to pay off the principle as quickly as possible.

Interest only with an offset works really well. Instead of paying down the principle – you place your spare cash/savings into the offset instead which essentially provides the same outcome albeit without paying down a chunk of tax dedutible debt.

Here's an article I wrote for Australian Property Investor magazing on the topic – hopefully it helps. if not – ask more questions

Cheers

Jamie

Hi Jotham

It's quite easy to buy interstate. 

There's a couple of main options. You either do it yourself or use a buyers agent.

With doing it yourself you'd carry out the same due diligence as you would if buying locally. Hone in on particular suburbs and do your research. You can learn lots remotely via the net and the odd phone call. Once you're ready to make the plunge it's best (in my opinion) to fly into the area and actually inspect properties in person. It's a small price to pay for a big investment.

The other option is to appoint a buyers agent. You give them an idea of what you're looking for and they'll locate a property and negotiate on your behalf. Obviously this comes at a cost – but can be a great option for some investors.

You're spoilt for choices up in Brisbane when it comes to BA's – you can try Richard Taylor or Andrew Allen who both post on the forum.

Best of luck with whichever way you go!

Cheers

Jamie

Depreciator seem to get a good wrap on on the forums – maybe worth giving them a shot.

Cheers

Jamie

Agree with the others – time to try another lender and two weeks is going to be tight.

Best off getting an upfront valuation or two carried out before submitting the application.

Cheers

Jamie

Yep, it's been insane start to January!

The phone hasn't stopped since the 6th of Jan.

Cheers

Jamie

Hi Mark

Personally I haven't come across a new property that looked like an appealing investment and they don't work with my strategy of buy, reno and hold.

I'm sure there's some good ones out there where the numbers stack up – but I've also seen plenty of spruikers making $20k+ commissions from acting as a middle men in the transaction. Normally for high density stuff up in QLD.

Cheers

Jamie

Hi Rinji

What are you doing with this property? Is it an owner occupied property that you're about to rent out?

Cheers

Jamie

Hi Ajay

It's not easy to source properties outside of the normal avenues such as the large property search sites.

You really need to be in the know within the area – which means building solid relationships with local estate agents. Good BA's do this – they build up a good rapport with local agents and have buyers ready to snap up properties when a quick sale is required.

Cheers

Jamie

Hiya and welcome aboard.

Which bank are you with? You might be able to get a free upfront val done via a broker.

Cheers

Jamie