I suggest you contact a few different property managers in the area .They should be able to let you know the current laws etc and it will also give you some experience in finding a property manager.
MB is like most industries.Through your property investing I am sure we all use a lot of different people from different industries. I am not sticking up for Mortgage brokers at all. Some are very novice at what they do!! What experiences have people had out there with Bank managers .?? Most people have a different view on structuring loans,investment strategies etc. We as investors just need to work out the good from the bad and most of all WHAT WORKS FOR US! Just my 50cents worth.
Offer 425k for the house with the vendor to pay the stamp duty and LMI ( or similar)The lender of your chose will then send a valuer out and hopefully value the property at 425k(remeber your valuer valued it at 440k.You could then lend 95% of 425k($403750) and add your 24k that you said you were going to put into the deal!!!!!!!!!!!
DID THAT MAKE SENSE?
Unfortunately you can not use any offset income/saving for serviceability when applying for a home loan.The reason would be that you can access this money after settlement
