Rodica Kennedy Finance Professional in Ipswich, Queensland | Local service

Rodica Kennedy Finance Professional

Locality: Ipswich, Queensland

Address: Main Street 4303 Ipswich, QLD, Australia

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25.01.2022 Be aware of sharks!!!! :) #Investing is like jumping in the ocean. Its great fun and sometimes feels very powerful. But look out, someone always wants to take a piece out of you and if you let them, theyll eat you whole. The bigger you get or the more you show off, the more sharks you attract.

25.01.2022 How to #repay your #home #loan quicker How can you pay off your loan sooner? What are the benefits?... Here are a few ways you can do it: You could reduce your loan balance faster and the interest you pay by #paying #more than your minimum repayment on select home loans. You can make your savings work harder for you by using a 100% #mortgage #offset facility. This offsets the balance in your linked transaction account against the amount you owe on your home loan when calculating interest. If you have a Portfolio Home Loan, deposit your salary directly into your loan account. While the money remains in your account it reduces your loan balance and daily interest charges.

24.01.2022 Selling your property Preparing to sell your home is a stressful process. From making the decision to sell to actually listing can take weeks, months or even years, and then theres the sales process itself before youll see that SOLD sticker. A checklist:... 1. Make the decision to sell If youre an owner occupier you have to decide if you are better off buying a new home before or after you sell your current home. 2. Prepare your property Have a big tidy up and complete any outstanding maintenance and repairs. 3. Choose an agent Interview several agents who have experience in your local area before making a decision, and dont be swayed by personal relationships selling your house is strictly business. 4. How to sell You need to decide what sales process, auction or private treaty, is going to be best for your property. 5. Determine your selling price Have your property valued by an expert. 6. Prepare the contract of sale Your lawyer will prepare a contract of sale for the property. 7. Marketing your property Marketing your property includes online and offline promotion and advertising. 8. Going on the market 9. Negotiation or auction Real estate agent will mediate between you and any buyer to reach a mutually price. 10. Under contract Sellers and buyers lawyers and banks will work out the details of the sale. 11. Settlement day You sold your home.

23.01.2022 The Reserve Bank of Australia has announced its cash rate decision for March following its monthly board meeting. As widely expected, the nations official interest rate remains on hold at a historic low of 1.5 per cent. That low rate has held since back in August 2016, when it was cut from 1.75 per cent.

22.01.2022 Fixed, split or variable interest home loans How do You decide? Fixed... You may sleep a little easier, knowing that repayments and cash flow will be predictable and consistent over the term of the loan. This allows you to do budget in advance and not be taken by surprise if rates change. On the other hand if interest rates drop over this time, then you could find yourself paying more than youd have to. Some fixed rate loans include redraw facilities, and some have more flexible terms around repayments allowing you to pay extra up to a certain amount. Variable Variable interest rates offer more flexibility. Paying lump sums is easier with fewer associated costs than fixed rate loans. Variable interest rates do tend to be lower than fixed offerings, and many have more features than fixed rate loans. Split Fixing a portion of the loan for that peace of mind, while keeping a separate part variable, can be a good option. This provides you partial protection from future interest rate changes. This may be a good option if youre keen to pay down your loan more quickly. In a situation where youre making extra repayments, you can do so solely on the variable component of your loan. However, you may also be required to pay the costs should you wish to break the fixed portion of the loan. REMEMBER- its worth speaking to a home loan professional to get a clear understanding of how this may affect your repayments and security overall.

21.01.2022 Deposit and upfront costs for your home loan Deposit Generally you need a deposit of at least 20% of the purchase price of the property. Any less than this and ...you'll need lenders mortgage insurance. Upfront costs It's easy to underestimate how much you need to save. Here are some costs that are often forgotten (and been known to cause a few sleepless nights). Now you know, you can budget for them. Stamp duty Stamp duty is the state government tax on mortgage documents and the property. The laws and amounts vary from state to state. Conveyancing Conveyancing is the legal process of transferring ownership of a property from one person to another. You can use a conveyancer or solicitor to do this. The main difference is a solicitor can give you legal advice, while conveyancers are generally cheaper than solicitors. You need to budget for a title search to verify ownership and type of property. Lenders mortgage insurance When you borrow more than 80% of the property value you will need lenders mortgage insurance. Lenders mortgage insurance covers lenders if you default or do not repay your loan, i.e it's insurance for the lender, not the borrower. Building and home and contents Insurance As soon as the contracts are exchanged you need to organize building insurance. If you're an owner occupier, you might want to consider contents insurance as well. Moving costs Here are just some of the costs you need to include (it's a great time to have a garage sale and save on some of the moving costs!): Removalists Cleaners Extra furniture Utilities connections Strata searches and building and pest inspection costs Before you buy make sure you organize a strata search and pest inspection. It may cost a little, but if you find problems it can save you money in the long run. Check whether your solicitor can arrange these inspections for you.

20.01.2022 The "How Can I" Series How can I use my house's equity to finance my first investment? A QLD purchase attracts an initial deposit of whatever you can negotiat...e (I always suggest $1,000 and this is refundable) with a balance deposit (again I suggest a further $9,000) to be paid upon the contract becoming unconditional. You have two ways that you can get to this deposit and still maintain full deductibility without using your own cash: 1. You can approach the lender even before you find a property and set up a line of credit loan using your current property equity. This line of credit loan then sits undrawn, and the moment you find a property it is available for you to draw from to make the deposit. As long as the funds from this debt are only ever used for, and connected to, an investment property, they are fully deductible. 2. You can get a deposit bond. This is an insurance policy of sorts, which guarantees to the vendor that, if you do not proceed with the purchase, your forfeited deposit will be paid by them. A deposit bond has a fee which is often less than the interest on the deposit would be if you were to use loan funds, but be warned while the insurance company pays the forfeited deposit they still chase you to get it back! This is only of concern if you withdraw from the purchase after your contract has become unconditional. Whatever you decide, its important to get guidance from a qualified person who can be sure you structure this correctly, as getting it wrong can be a tax nightmare. Its also important that, before you even get started, you become educated do a lot of reading and find a great property investment course to do first!

20.01.2022 Seven weeks to Christmas: Selling tips Choose an experienced local agent, hopefully the agent already knows the buyer from their long list. Offer extended settlement terms to say March as this gives buyers time to sell their property during the likely quieter January and February period.... Eliminate clutter. Potential buyers are looking for their dream home not yours, choose a small Christmas tree and subtle decorations. Commission a building and pest report to be made available to potential buyers, buyers will also see you have nothing to hide. A quick cosmetic clean-up can do wonders. Be sensible about pricing your property - dont be greedy. Best be an accommodating vendor and allow inspections outside scheduled times. Good luck!

20.01.2022 How to spot a sleek property operator shark Sharks. If you choose wisely, you can expect your property value to increase at around 8% a year, so property investment is a pretty safe bet.... Smart investors get rich slowly. Yet during a rising bull market youll find seminar rooms full of people lapping up the advice of so-called experts. But once the partys over and the market cools, these guys do a Houdini faster than you can say economic downturn. "Other types of sharks to watch for. Beware; investing is like jumping in the ocean. Its great fun and sometimes feels very powerful. But look out, someone always wants to take a piece out of you and if you let them, theyll eat you whole. The bigger you get or the more you show off, the more sharks you attract. Sharks come in all shapes and sizes. Usually they are fast talking, pin-striped, single breasted and wear a tie. But here are a few things to keep in mind. First rule of engagement: ask everyone you meet what they charge up front and get in writing what they promise to deliver. Asking the cost up front and politely demanding things in writing before doing business is not rude. In business, its the rule. Remember as I always say, property investing is a business. If someone doesnt give you a straight answer or wont put something down in writing, youve started to smell that fishy shark smell. If someone lies on the little things, they will definitely lie to you on the big things that matter. If you hear a lie, youve smelled a shark. Swim away fast. Most people who think of sharks in the property world think of agents. Agents arent sharks, not scary sharks anyway. You know exactly what an agent wants to do. They dont hide from the fact that they want to sell you a house. You know they will try to work every angle they can. They will take any information you give them and use this as leverage to sell you a property. Thats cool, were in the property buying game. We can live with that, but it is important during your investment journey, to understand how agents are paid and some of the basics about the way they operate." Cam McLellan- propertyobserver.com.au

20.01.2022 Be #Smart With Your #Money

19.01.2022 What you need to know when buying your home or investment property The things you'll need to do to make sure you're happy to buy What to do if you find there is a problem

19.01.2022 #Building #Pest #Strata #Inspection What you need to know when buying your home or investment property

19.01.2022 Maximize your #loan There are many ways to increase how much you can borrow. If you take out a #fixedrate loan, banks will calculate your borrowing capacity on the fixed term, e.g. 4 per cent for five years, whereas if you get a #variableloan they will add a serviceability buffer of around 2 per cent to the current rate to determine your borrowing capacity.... If you want to maximize your loan, its still very important to make sure youve done your own affordability calculations and you are comfortable that you will still be able to afford those repayments down the track if interest rates rise. Aspects of your #finances that banks look at to determine how much they will let you borrow" ***A strong #repayment history ***Substantial property #equity ***A co-borrower or #guarantor ***Demonstrated capacity to meet repayments

18.01.2022 Buying Off-The-Plan' Tips Benefits of buying off-the-plan 1. Save on stamp duty... 2. Pay now, earn later: When buying off-the-plan, youll pay for the current market price for a property, even though the project will not be completed until much later. 3. Increased property values: If the market experiences growth after you make an off-the-plan purchase, youll find that the property may increase in value by the time you settle. 4. Advantages with the tax man: If you are purchasing the property for investment purposes, you may be able to claim depreciation on your tax for items such as fixtures and fittings. 5. Extra time to pay: Though you will still need to make an initial deposit to secure the property (usually around 10 per cent), you wont need to make the entire payment until the property has been built. 6. Builders guarantee: According to the Department of Fair Trading, cover for loss arising from defective work is covered for a period of six years from the date of the completion of the work or the end of the work contract (whichever is later), and two years for loss arising otherwise than from a structural defect. Potential risks of buying off-the-plan 1. Not like the pictures: The quality of work may be lower than what you expected. 2. Decreased property values: What goes up must come down. 3. Rising interest 4. Bankruptcy: Wary buyers fear that the building developer could go into liquidation before the project has been completed. How do I protect myself when making an off-the-plan purchase? Before you sign get assistance from your accountant, your lawyer, your conveyancers to ensure that you get the most out of the deal.

16.01.2022 #Property #investment #rules

15.01.2022 5 Things to Control for Successful Property Development Even in the best markets clever developers do not forget the key legal compliance and management strategies that maximise outcomes and minimise risk If you want to avoid the pitfalls and maximise your commercial positioning you should keep these 5 steps in mind as you go about your projects.... https://businessfocus.westpacgroup.com.au//5-things-to-co/ 5 Things to Control for Successful Property DevelopmentEven in the best markets clever developers do not forget the key legal compliance and management strategies that maximise outcomes and minimise riskIf you want to avoid the pitfalls and maximise your commercial positioning you should keep these 5 steps in mind as you go about your projects. See more

14.01.2022 "Buy land. They've stopped making it." -- Mark Twain

13.01.2022 8 steps to buying a property

13.01.2022 What is stamp duty? Investment terms explained Stamp duty is a tax paid by property buyers upon the purchase of a home or investment property.... Its charged on land, established homes, new properties, apartments, villas and pretty much all property sales and even gifts of property. Stamp duty is often also payable on your mortgage. As the figure can add a substantial cost to purchasing a property, always check what the cost may be upfront. When youve bought a property you have 30 days after settlement within which to pay your stamp duty. However, the total amount does differ by state and territory as it is levied by the state and territory governments and is not a federal charge. This means that buying the same priced property in Victoria will see you charged a different amount than if you bought it in South Australia. Duty is usually charged by a threshold structure, based on how expensive the property is that you are buying. You may be eligible for a concession or to even have your stamp duty waived, if you are a pensioner, a first home buyer, purchasing your principal place of residence or buying new (under certain schemes). Similarly, some groups, such as farmers, can achieve concessions. These concessions, again, are decided by your state and territory and so will differ.

10.01.2022 Top Tips for First House Buyer! 1. Get "out" all the information from the Estate Agents! They are there to sell their client's property. Don't take anything they'd say about someone else's property at face value. If they claim pets are allowed, check with the Owners Corporation or Body Corporate.... If they say an off-the-plan apartment will be a certain size, ensure it's written into the contract. If they tell you to hurry and sign the contract before "it's too late", make sure you're had a lawyer look at it first. It's just not worth risking your financial security by being reckless and rushing. Take the leap when you're ready: not when the agent is. 2 .Don't assume anything, check! You might have grand plans for the future, but don't assume this is legally possible. Do your homework in advance. 3. Be careful with off-the-plan apartments. Read the fine prints!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 4. Thoroughly inspect the property first! Knowledge is power!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

10.01.2022 Should you consider a split loan? For people who want some certainty and protection from rate increases but dont want to miss out completely if rates fall further, split rate loans offer an alternative. Split rate home loans allow borrowers to fix the interest rate on a portion of the loan and leave the rest variable.... The benefit of splitting a home loan is that it combines the features of a fixed and variable rate loan. The variable portion offers flexibility, allowing you to participate in subsequent interest rate cuts, while typically being able to make extra repayments or redraw from the mortgage. The fixed portion is usually more restrictive but does lock in the interest rate shielding you from increases in the required repayments if rates rise. Its common to fix 50% of the loan but most lenders will allow you to choose whatever combination of fixed and variable rates you want. Many lenders will allow borrowers to split rates using their existing mortgage without having to refinance. Check with your lender on their policies. As with all types of loans, interest rates vary between lenders.

10.01.2022 We can never predict the future, we cannot say those low rates will stay here forever..who knows, they might...anyway, my advice: Don't base your home loan only on your current financial circumstances, take into account your future plans, like starting a family, or allowing for the fact that rates will rise at some time in the future. One of the keys to avoid the trap of rising interest rates is to ensure you can afford repayments on a higher amount.... Low rates are not a reason for you to go overboard, but they can be a great opportunity if you do a proper research.

09.01.2022 Is the seller legally obliged to sell you the property........................ or are you legally obliged to buy when you pay a holding deposit? Only an exchang...e of contracts constitutes a legally enforceable agreement. Without an exchange of contracts, buyers place themselves at the mercy of a very competitive buyer marketplace. Real estate agents often dont want to be seen to rush buyers into an exchange of contracts due to the relatively small penalty buyers incur if they decide to terminate their purchase during the cooling off period. A cooling off period is the number of business days where a property buyer can walk away from a legal agreement to purchase a residential property. Buyers who do this usually have to pay the seller a small termination fee, which is often around 0.25% of the purchase price of the property. Any deposit above this will commonly need to be refunded. The best advice for buyers is to have finance approved and move quickly to complete inquiries. Sometimes, in the most competitive marketplaces, its in a buyers best interests to exchange contracts and make those inquiries during the cooling off period. For a "pre- approval", give me call!!!! #mortgae #broker #deposit #preapproval

07.01.2022 Four #Tips you can use this #weekend!:) #Maximize your #loan By knowing which lenders have the best rates and how to best approach the changing home loan market..., youll make sure your opportunity to save isnt just left to chance. Even if youre happy with your current provider, there are still ways to keep more cash in your pocket. Here are my top four tips for maximizing the cash rate cut. Tip #1: #Compare all home loans on the market Tip #2: #Keep repayments the same Tip #3: Let me #negotiate for you with a lender that you prefer!! Tip #4: #Smile :)

07.01.2022 "Buy land. They've stopped making it." :) -- Mark Twain

06.01.2022 Building a Home Steps to building a new home

04.01.2022 If you review your mortgage, just check all the facts, everything should be in writing....I've just reviewed mine... OMG...the bank had to redo it, with no costs for me..but the headache.... You are never to careful...I've learned that myself!!

04.01.2022 #MortgageTips on how to how to #AvoidLoanDefault Unexpected job loss or illness may impact your ability to make payments. When this happens, act quickly, as there may be options before a Default Notice is served than after. Many lenders will negotiate short-term variations to repayment so you can get back on track, and there are circumstances in which lenders are obligated to agree to such arrangements. It is important, however, not to agree to payment terms that cannot be me...t. Do not promise anything if you are not certain you can achieve or is not realistic. Ask for an initial arrangement to be reviewed at the end of the agreed repayment arrangement if your situation doesn't improve.

04.01.2022 What is the #capital #growth #rate? Investment terms explained Capital growth is the increase in value of your property, or portfolio of properties, over time. Capital growth usually affects an entire area, although individual properties may be affected to different degrees.... Your capital growth is the amount that your property has increased in value by, or the difference between the purchase price and the current estimated value or prospective selling price. Properties in Australia have been known to more than double in value, however they have also been known to decline in value with steep falls not unheard of. Usually, strong capital growth suburbs, or areas where the properties have increased in value strongly overall, are called hotspots or growth suburbs. As property is a long term investment and does not usually increase in value in the same rate every year, this figure is important for considering whether the property did well overall. Some years may have achieved a 7% plus capital growth rate, easily putting the property on the path to doubling in 10 years. However, it may have achieved less than 2% for five years of the ownership. What counts as a good capital growth rate is up for debate.

04.01.2022 #Five #Worst #PropertyInvestment nightmares and what you can learn from them. Save and follow those rules "religiously" 1. Take "off the plan" off your plan... An "off the plan" investment might seem enticing however, there are added risks you should consider. Firstly, there is no guarantee of the quality or of the final property value and they're often initially over valued by the developer. 2. Create a safety net Always set aside three months' worth of mortgage repayments per investment property this will give you a safety net to fall back on should your income flow change. Its better to have this cash for emergencies than to use it to pay extra loan repayments. 3. Understand the penalties of exit fees The historically low interest rates have driven record numbers of investors to opt for fixed rate bank loans making them privy to penalties should they make an early exit 4. Research your builders When selecting a builder, always check their current credentials and insurance policies, and inspect their recent work. 5. Invest in landlord insurance Bad tenants are unfortunately common, which is why you should always invest in landlord insurance

03.01.2022 How can I use my house's equity to finance my first investment?

01.01.2022 Six Tips To Use Before You Apply For A Loan 1. Make your everyday account an offset account, that way there is no shuffling of money. 2. Always have a buf...fer in your working accounts lenders frown upon overdrawn accounts now with the new credit reporting. 3. Regular ATM withdrawals from clubs and pubs (if you love a beer or a punt, then get your cash out from the banks ATMs prior), lenders see everything now. Think twice before you withdraw funds at these type of establishments. Not to mention, it will also save you the $2.50 plus ATM fee. 4.Credit cards, do not go over your limit, another big no no. Regardless of whether you pay the whole credit card off at the end of the month, as soon as you start going over your limit, its a red flag and even the best of applications get declined for this reason alone. 5. Any bills that are late, even your phone bills, by more than five days etc, these are all recorded on the new credit reporting system. So if you think you are winning by paying late, be prepared for a surprise the next time you apply for a loan. Regardless of what you earn. 6. If you do move money around a lot to save interest, then set automatic transfers in case you forget. So, I guess the moral of the story is pay your bills on time, every time. :)

01.01.2022 #Tips and #tricks for #increasing your #borrowing capacity: #Pay down your debts (and avoid taking on more!) #Reduce credit card limits-... High credit card limits affect your serviceability even if you havent used them to their limits and do not intend to. Reduce them as best possible. You can increase them after you have your loan #Decrease other overheads where possible- Fancy car leases, big smart phone plans and cable TV charges can reduce your net income and affect your serviceability #Ensure all your income is taken into account- If you receive substantial sums in bonuses or commissions each year that significantly lifts your overall earnings, and this hasnt been addressed by your broker, then you want to bring it up. #Split debt evenly with your partner- You may be purchasing together, but if the property is to be secured in your own name then make sure you have evenly divided up liabilities between both of you.

01.01.2022 What is stamp duty? Investment terms explained