Hi everyone:)
Do you usually get IO loan for all your investment properties? How about fix & variable rate? Is it a good idea to split to half?
Do you know how to qualify a building inspector to do the job?
Many thanks wonderful people.
In my opinion, you’d be silly to spend 10’s or 100’s of thousands of dollars without first spending a few hundred dollars on building and pest inspections.
Personally, I prefer (fixed) interest only loans… but it would depend on the town… I’d only do it if the town were well established and not likely to shrink in size.
-Ian
Hi Nora,
It is dependent on your personal position and goal, for me I would want the higher yield through leveraging my dollars to my advantage eg IO loan whcih of course you can fix or do a split fix and variable.
Re the inspections, constantly amazed that people will buy property and wonder about whether to get due diligence reports. For me it is a must, I want independent advice and will never rely on tainted advice such as the r/e agent. Get your own independent advice and ensure the person is licensed and insured. There is a cheat sheet on the following website under useful info on what to ask an isnpector if your are not sure on how to qualify inspectors(www.opr.com.au).
Hope that helps.
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