Hi Diceman,
I can see the benefit of using the higher interest loan if it allows you to “settle quickly” in return for a nice discount on the purchase price. But if there is no immediate benefit for you, take the time needed to set up the better loan right off.

As always, if not meeting them on price, give a bit on terms. Or, if meeting…[Read more]

Hi Greg,

I honestly thought that with the high-turnover for properties in the area (Slacks Creek, QLD; average days on market ~20 days), that this would be a relatively easy process but have been proven wrong as my agent has had only a handful of potential buyers through the property, and only one low-ball offer made (which I rejected as it was…

[Read more]

Thanks for that Terryw – probably little to worry about then if a lender goes belly up?

Benny

Hi again,

As a lender do Latrobe have a history of stability?

I can’t comment as a customer of Latrobe, but maybe an early “Aha moment” from a seminar can help. The presenter was answering a similar question from the audience. The question went something like “How do I know that a lender isn’t going to go belly-up?” The presenter replied…[Read more]

Hi Steven,
I applaud that you are keeping an open mind, and are “taking a look” at other options. Certainly, if this person has an “in” to distressed sales, that might have some merit and benefit for you. but hey, as always, it is Buyer Beware (caveat emptor).

I tend to agree with the others who are guiding you away from accountants…[Read more]

Hi Steven,
I applaud that you are keeping an open mind, and are “taking a look” at other options. Certainly, if this person has an “in” to distressed sales, that might have some merit and benefit for you. but hey, as always, it is Buyer Beware (caveat emptor).

I tend to agree with the others who are guiding you away from apartments and…[Read more]

Hi Steven,
I applaud that you are keeping an open mind, and are “taking a look” at other options. Certainly, if this person has an “in” to distressed sales, that might have some merit and benefit for you. but hey, as always, it is Buyer Beware (caveat emptor).

I tend to agree with the others who are guiding you away from student accom. But…[Read more]

Hi Brizziegirl,

Watch out that the new lender DOESN’T x-coll the two mortgages !! That is not a good situation to get into in most cases. Check with your MB about that.

BTW, for those reading who aren’t aware of “x-coll”, I’m referring to “cross-collateralising the properties on a single mortgage”. It can seem to be worthwhile in some…[Read more]

Hi Vick,
You asked this three months ago, and received a very comprehensive answer at the time. Of special interest is the link that Terryw provided you in one of his answers to you.

Can I recommend you go back and re-read the topic :-
https://www.propertyinvesting.com/topic/5037777-asdvise-re-ppor-and-ip-loan-structure/

… and pay…[Read more]

Hi Vick,
You asked this three months ago, and received a very comprehensive answer at the time. Of special interest is the link that Terryw provided you in one of his answers to you.

Can I recommend you go back and re-read the topic :-
https://www.propertyinvesting.com/topic/5037777-asdvise-re-ppor-and-ip-loan-structure/

… and pay…[Read more]

Hi Vick,
You asked this three months ago, and received a very comprehensive answer at the time. Of special interest is the link that Terryw provided you in one of his answers to you.

Can I recommend you go back and re-read the topic :-
https://www.propertyinvesting.com/topic/5037777-asdvise-re-ppor-and-ip-loan-structure/

… and pay…[Read more]

Hi Vick,
You asked this three months ago, and received a very comprehensive answer at the time. Of special interest is the link that Terryw provided you in one of his answers to you.

Can I recommend you go back and re-read the topic :-
https://www.propertyinvesting.com/topic/5037777-asdvise-re-ppor-and-ip-loan-structure/

… and pay…[Read more]

Hi Vick,
You asked this three months ago, and received a very comprehensive answer at the time. Of special interest is the link that Terryw provided you in one of his answers to you.

Can I recommend you go back and re-read the topic :-
https://www.propertyinvesting.com/topic/5037777-asdvise-re-ppor-and-ip-loan-structure/

… and pay…[Read more]

Hi Vick,
You asked this three months ago, and received a very comprehensive answer at the time. Of special interest is the link that Terryw provided you in one of his answers to you.

Can I recommend you go back and re-read the topic :-
https://www.propertyinvesting.com/topic/5037777-asdvise-re-ppor-and-ip-loan-structure/

… and pay…[Read more]

MM,

I just had an extra thought. When separating these to be two separately rentable units, did you comply with all fire prevention requirements i.e. is each one safely protected from the other via fire resistant doors/walls, etc?

One to check as, if that were not done according to Council code, I would hesitate to rent them separately.…[Read more]

Hi MM,

How is the figure of 3.2% even reached? What’s the formula there?

You found the figure, MM – where you found it, you might find a “How was this calculated?” link to click on.

As an example, re.com.au does this – the link below won’t be your area, but it is purely an example for y…[Read more]

Hi eMark,

9 months till the next one? Are the dates locked in yet? I’m assuming it’s in Melbourne.

The concrete is hardening – I’ve heard the plans, but I’ll leave it to Steve, Jason, or Romy to confirm the actual dates/venue once they are absolutely locked in. For now, I believe it is OK to say “It is planned to be in Melbourne, near EoFY”.

Benny

Hi eMark,

9 months till the next one? Are the dates locked in yet? I’m assuming it’s in Melbourne.

The concrete is hardening – I’ve heard dates, but I’ll leave it to Steve or Jason to come back with the actual dates once they are absolutely locked in. For now, I believe I can say “It is planned to be in Melbourne, in mid-late June”.

Benny

Cool – thanks for the extra info. See, straight off, my thoughts have changed – the location sounds like one that can have legs, growing even more equity over the next growth phase. Main thing is “Can you afford to keep it?”

The rental medians usually refer to a 3bdr house – and the median values usually split between 2, 3, and 4bed houses.…[Read more]

Cool – thanks for the extra info. See, straight off, my thoughts have changed – the location sounds like one that can have legs, growing even more equity over the next growth phase. Main thing is “Can you afford to keep it?”

The rental medians usually refer to a 3bdr house – and the median values usually split between 2, 3, and 4bed houses.…[Read more]