The Newbie Investor wrote:
Hey Jamie

Thank you, I am confused about the tax deductible and non deductible side. So if I had a PPOR with interest and principle loan and decided to buy a new property  to live in, would it be bad to rent out my PPOR, be better off just buy and hold strategy and sell it than rent it.  Man these structures get…[Read more]

DerekLangan wrote:
Why would recommend Jamie?  Just wondering if it would be worth speaking to someone long distance or trying to go locally

If you look back through the forum posts you'll see that Jamie is a well respected broker for a lot of property investors who use this forum.  When I bought my first investment property I did it without…[Read more]

Hi Derek

In this day and age there's no need to find a broker in your local area.  I'm in Qld and can recommend Jamie M who helped me with previous purchases.   He'll run through all the options for you.  Can all be done by phone/email.

Cheers,
Sundance

Hi Polaris,

I understand that you are caught between a rock and a hard place because there is a child involved and no-one wants to see a child suffer and this person knows this and is using it to their advantage.

You've tried politely asking them to move on and they keep stretching it out and you don't really want to have to evict them. …[Read more]

Have sent a PM to tyler_durden76au

Books have already been sold.

Cheers,
Sundance

Thanks Catalyst, you've answered my question perfectly!   

Thanks Jamie, that makes sense.  Should I now pay the extra to bring it back down to $60k?  At the moment I've set up a direct debit to pay it but in future am I better off waiting to see what the interest charge will be and then making the payment accordingly or just pay a bit extra each month?

That's great news Jamie and I love her name!  The sleep deprivation only lasts a few years if you're lucky.  In the blink of an eye she'll be 18 and saying "Hey Dad, can I borrow the car?" and then it starts all over again!

Also congratulations to Big Sis.

Enjoy!!!!!

RPI wrote:
Part of slater and gordon solicitors. They will probably charge you to talk about your issue though.

Ok, didn't realise they were part of Slater & Gordon.  My error, just didn't check.  Wouldn't have used them had I realised as we've just used S&G in NSW to buy an investment property and I wasn't very impressed with them.

Thanks…[Read more]

RPI wrote:
Conveyancers do not exist in qld. Only solicitors can do conveyancing in qld. D

We're using Conveyancing Works.

Thanks for that info, much appreciated.

We are dealing with a conveyancer for the sale, not a solicitor.  So what  you're saying is that if settlement doesn't take place we will need to see a solicitor to take it further?

Cheers,
Sundance

Hey there Jamie,

Thanks for that info.  Am trying to give them the benefit of the doubt and of course I'm hoping that it's just a hiccup and that settlement will actually take place but just trying to be prepared for all outcomes.

Tamworth property going well for us.  You must have your new baby due in a week or so?

Cheers,
Sundance

Hi Terry,

All they've paid is $1k deposit – purchase price of land $220k.   Will check out contract.

Thanks for your help

Thanks Terry.  I hear you about SMSF but we already have the two IP's purchased in our own names.

Cheers

Terryw wrote:
WHy have a PI loan at all. IO with offset may work better.

The only reason not to get an IO loan with offset like this is if you are tempted by large amounts of cash.

It is never a bad idea to pay down loans, but you never know when you may need cash for something unexpected.

When we first looked at investing in property our…[Read more]

Mmmm………..now I'm getting myself confused!

If I paid the $200k off the $285k investment loan and then switched it to P&I then the principal portion of the repayments would be calculated on $85k.

If I put the $200k into the offset instead and switched to P&I wouldn't the principal component of the repayment be calculated on $285k which would…[Read more]

Hi Terryw,

I was hoping you would pop in with some advice!  I think you've just answered my question in regards to whether to buy PPOR or IP.  We will definitely now buy PPOR.

In regards to paying the $200k off the investment loan and then switching to P&I – I guess we were assuming that we wouldn't have any need for the cash in the future so…[Read more]

APWPG wrote:
Hi Sundance ,I think you need a good Financial planner who knows what he is doing ,specially a property servy one .

Thanks for your advice Bill.  Can you recommend a property savvy FP in Brisbane? 

We've just bought our second investment property and this one was purchased sight unseen. 

We live in Qld and the property is in Tamworth.  Do lots of research on the area you're interested in and look at sold prices of similar properties.  Look at how many properties are available for rent etc.  Also make sure you do a pest and building…[Read more]

Nigel Kibel wrote:
I tend to use AAMI because on building insurance they do full replacement cover so you do not have to worry about being under insured. 

Many Australians in the past have been underinsured which has left people under insured by thousands in  some cases. Also stick to the major insurers my experience is that they pay…[Read more]