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Shoot me an email, i am using a really good company in Brisbane for something similar.my email address is [email protected]
Guys,
My broker gave me a rule of thumb which i refer to always. He said that banks base all your repayments on 2% higher than the standard variable. P&I . And only take into account 75% of your rental income as income. What this means is if you have $50,000 in loan repayments each year on 6.1% either IO or P& I they will access your $50,000 on 8.1% P&I. And if your rental income is $100,000 per year they will only take $75,000 as income.
Hope i havent confused any one, We have 11 houses now and i always refer back to this formula.Happy new year
AndyTry http://www.sunshinepacific.com.au i think this web site specialises in positive cashflow properties there use to be a few in Brisy.
AB
Steve,
Congratulations!! This is well earned and deserved. I could not think of a better person to be appointed than you self.
Keep up the good work and see you on the weekend.Andrew Brenchley
Louise,
I did the course 2 years ago when it was only $3,500, some of the infomation is good and some i feel is super high risk.However i have taken action since that course on only things that i am comfotable doing, which is a mix of WRAPS, Buy & Holds & trading. However the biggest thing that i have found is that everything that i learnt at that course 2 years ago i have read about in diferent books, magazines and on forums like this one. One good thing that Henry does teach you, is to find people with the results that you want and go and interview them. That is the best form of education that i have done. So i now spend my days, reading, studying and interviewing. Cheap education!!
Just my thorts.Andy
Jenny,
I live in Sydney also, i dont have the time to WRAP but i love the concept, i do Joint Venture agreements and put up the cash, anyway, my deals are done within 2 hours from Sydney, my purchase price is between 78-85K, my lender also lends me 95% + mortgage insurance, my deals costs me round about 9K each.
ANdrew
