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  • Profile photo of ronnie01ronnie01
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    @ronnie01
    Join Date: 2013
    Post Count: 54
    January 15, 2014 - 10:13 am

    Thanks Jamie I also had a read on your article with Loan structuring on interest only and setting up a offset account it was really informative. It sounds fairly easy I was wondering why not everyone does it this way?? Even if I was buying first as a PPOR and than maybe in the future 3-5 years turn it into a Investment property this strategy makes total sense. But what if I get emotional attached to the property and decide to live their forever will this loan structure strategy still work ???

    Thanks I appreciate your answers

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    January 14, 2014 - 10:00 am

    Wow thank you Jacqui that makes sense, it sounds easy why doesn't everyone do this or do they already???

    Thanks Jacqui appreciate your answer :)

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    January 14, 2014 - 9:49 am

    Ohh nice thanks for the advice Jamie, if I would say to purchase the property as PPOR instead of thinking about IP for now,and try to pay the property off ASAP, with extra capital from family and to rent out other rooms to family members and charge rent. Would that be better to purchase with principle and interest loan??? I assume you have invested in many IP Jamie or anyone else reading this forum would you normally purchase all your IP's with interest only loans??? I appreciate all your advice.

    Thank you 

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    January 10, 2014 - 8:11 am

    1

    Profile photo of ronnie01ronnie01
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    January 9, 2014 - 12:58 am

    Hey Jamie, yeah I am thinking in the future I will, to be honest don't have a exact time frame but if business succeed and enough capital is gained anything can happen.

    Thanks Jamie

    Matt

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    January 8, 2014 - 10:09 pm

    Wow really is it that easy to be misled and have a very bad loan structure? 

    I mean you know of my circumstances max price $300,000 want to buy for PPOR and than eventually turn it into IP after 3-5 years. Hopefully he will help me choose the best loan structure. Is there anything I should look out for? or really important questions to ask? Thank you so much for your advice I am very new to this and I rather ask dumb questions than make a dumb mistake. 

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    January 8, 2014 - 5:24 am

    Thanks Guys I have a broker appointed and ready to throw hundred of questions, Do you guys know as of today how much FHOG is in victoria for already established housing not newly built but existing property is ???

    Thanks

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    January 7, 2014 - 12:25 am

    Thanks for all the advice guys its great!!!

    I am thinking now maybe to purchase out in the suburbs something decent between $200,000 – $250,000

    something relatively good location with 2 bedroom house. I want to live there maybe 2 – 5 years and so I can do my own business and continue to build capital and save because the  mortgage repayments won't be so high and than once I have saved enough I can purchase another property and rent the 1st one out.

    what do you guys think?

    thanks

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    December 30, 2013 - 8:03 am

    Hey Guys 

    Thanks for all the kind advice, I will def look at a broker.

    Hey Matt at this stage probably a bit of both because I definitely want to build my property portfolio in the future, but at this stage I wanted basically start with my own base first, because I want to do business and have other things on the side. So I want to be able to leverage my money.

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    October 7, 2013 - 1:06 pm

    Here is what it says:

    What Qualification Will I Receive?

    Upon successful completion of the Agent's Representative course and having been found competent in the assessment tasks for the three units you will be given a Statement of Attainment.

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    October 7, 2013 - 10:28 am

    The reason I ask this is because I found the course at REIV for 795 and than the course at swinburne for 4500 ? but the thing is they're both the same units would swinburne be much better off ? or would I just be stupid to pay 3000 more for the same course just to attain a agents representative certificate ?  

    Profile photo of ronnie01ronnie01
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    September 19, 2013 - 10:19 am

    Oh I understand so basically if you buy a PPOR say for $300,000 and have equity of 20% so $60,000 to invest into an investment property also worth $300,000 I would need to get another mortgage for the 2nd property and so on….. for 3rd and 4th investment property? That means you would have so many mortgages and if they weren't positively geared you would be screweddd??

    Thanks Jamie its people like you that I keep learning and keep reading these forums its great :)

    Profile photo of ronnie01ronnie01
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    September 19, 2013 - 9:59 am

    Wow reading all this is great I am getting the idea of both worlds PPOR and IP. How does the investment property work ?? If I buy my PPOR and than tap into my equity to purchase an investment property would I have to apply for another mortgage for the investment property??? How does it all work for newbies like me.

    Profile photo of ronnie01ronnie01
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    @ronnie01
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    September 14, 2013 - 11:59 pm

    Hey Guys Thank you so much for your help, WOW and I thought an interest only loan was bad because you only paid off the interest and not the principle but that makes sense if I want to use it as an investment property in the future, I don't really understand the offset account how it works?? Thanks I am learning a lot already by reading this forum

    Matt

    Profile photo of ronnie01ronnie01
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    September 11, 2013 - 11:06 am

    Hey Jamie thank you so much for replying well I was leaning towards the flexible rates but wanted to get an idea of fixed and if many people chose that option. Its going to be owner occupied and than swapping in the future into an investment property. I thinking building my foundation from there. 

    Thank You

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