Scott and alyna, thank you for your repliesBen

Lora4486 wrote:
Sold, Next question, any recommendations for a mortgage broker?

Richard Taylor

keep looking mate, and keep reading the forums!

As Richard said, The forum is a fantastic place to start, you can pick and choose the advice you heed and over time you will see who is here simply to help, and who is here to promote themselves or their services. read as much as you can and form your own opinion, but take your time!good luckBen

The right deal will come along mate, and most of the best ones are created…good luck

Good questions! Ive mentioned this before but a friend of mine in the banking sector told me that he margins on home loans at the moment are only about 1%….Answers will vary but i think in answer to your other question customers should come first. no customers no business…

well done for hanging in there!no need to go out for dinner, mc d's and a movie

Qlds007 wrote:
Good investment for who may ask ……………Yours in Finance

I would like to know also…

In my opinion, Being on the ladder is what matters. if you have LMI to pay, depending on your strategy with that particular property you may not notice it long term eg: if you planned on holding the place for 10 years and LMI was 9 grand it isnt much in the scheme of things. i guess it just depends on how good that deal really is to your…[Read more]

grimnar thanks for that explanation – very helpful for me too

daleaporter wrote:
No other debts, by that time credit cards will be paid off and cancelled, personal loans will be paid out. Clean slate! Looking forward to it.

Thats a good position to be in mate well done good luckBen

One thing to remember is banks have margins on their loans, some as low as 1%… a small percentage against a considerable risk.one arguments i guess lenders have in their favour is that they too are a business, and need to raise the rates along side the RBA to ensure the margains remain stable and business over all remains sustainable. According…[Read more]

Search for "getting started" and "how to" threads here on the forums, purchase some books that explain various ways to get into the market, seek professional advice, and good luck!

Qlds007 wrote:
With the Banks coming under the NCCP umbrella effective Jan 1 2011 i think there will be a lot more deals lenders will be rejecting and dont think it bears very well for someone without sounds credit, savings or merely wanting to get ahead.

I cant imagine how many people it will affect in different ways, I wonder, if any of the…[Read more]

what does this mean for those wishing to borrow, simply higher interest rates or an unwillingness to lend from major banks now?thank you for posting Richard Ben

Hi PGD,I have had a similar situation, someone i know who has alot of equity, and a solid job but no real knowledge of property investment wants to make a purchase together. I know him and his family well, but if i go ahead with it and we purchase a property together (with the aim of selling for a profit relatively quickly) i will most certainly…[Read more]

Ok, well i wish you all the success, there are heaps of ways to make it happen – putting your loan in IO until your place in tenanted might help bring the payments down, perhaps an extra income stream or a couple of sacrifices and you will be sweet.

you will have to pay $130 after you purchase your PPOR? i hope im not missing something but you wil be living in it, so only paying for your mortgage as an accomodation payment wouldnt you? or are you going to move into your ppor for a perios of time then move out again?

You mentioned you were purchasing an i.p, i took from this you wont be living in it? does this mean you wont qualify for FHOG?

Shwing wrote:
Also for short term, spend a few buck trying to pick the first 4 in race 7 at Flemington on Tuesday, I can almost guarantee that if you get that right, it will reap more that your first foray into short term property investing. 

lol! well said