Another old chestnut that deserves a place in this thread is the well-known media headline that reads as some variation of “Cash Rate up (or down) by 0.25%” and is often extended to read “Mortgage Interest Rates up (or down) by 0.25%” – and that may not necessarily be correct. Often, when the RBA drops the rate, Banks DON’T drop by the same…[Read more]

Another old chestnut that deserves a place in this thread is the well-known media headline that reads as some variation of “Cash Rate up (or down) by 0.25%” and is often extended to read “Mortgage Interest Rates up (or down) by 0.25%” – and that may not necessarily be correct. Often, when the RBA drops the rate, Banks DON’T drop by the same…[Read more]

Hi Simon,
Thanks for taking the time to post this update – sounds like “All’s well that ends well” so, well done you!!

The bloke could have been kosher re “family health scare”, but it is always scarey when you “don’t hear from someone”, eh? Smart move reporting it via Gumtree – seems to have put the cat amongst the pigeons and had him…[Read more]

Hi Sean,
Hmm, I hadn’t heard of politicians selling off their investment homes. Do you have any kind of source (e.g. news media article?) re that? It sounded from your words that someone had alluded to it, so maybe no direct references – more of an allegation eh?

Re your comment about “banks reducing the number of Interest Only Loans” the…[Read more]

Hi Sean,
Hmm, I hadn’t heard of politicians selling off their investment homes. Do you have any kind of source (e.g. news media article?) re that? It sounded from your words that it someone alluded to it, so maybe no direct references, but more of an allegation eh?

Re your comment about “banks reducing the number of Interest Only Loans” the…[Read more]

Hi RMAA,
If you were able to share some actual numbers (e.g. what was the Fixed Rate, what is it now, and even an idea of how long you would have fixed, etc – whatever you feel comfortable sharing on a public forum), I would certainly be interested to hear further comment from one or several of the MB’s on here.

With the wealth of knowledge…[Read more]

Hi Frank,.

Sorry, I thought I had replied to this – in short though, I prefer an older house to a duplex. I am also struggling to get my head around a purchase price of $950k – that just seems insane to me, but then I have only ever bought in Brisbane and surrounds.

Steve would say “Buy problems and sell solutions”. In buying a newly…[Read more]

Hi Frank,.

Sorry, I thought I had replied to this – in short though, I prefer an older house to a duplex. I am also struggling to get my head around a purchase price of $950k – that just seems insane to me, but then I have only ever bought in Brisbane and surrounds.

Steve would say “Buy problems and sell solutions”. In buying a newly…[Read more]

Hi Frank,.

Sorry, I thought I had replied to this – in short though, I prefer an older house to a duplex. I am also struggling to get my head around a purchase price of $950k – that just seems insane to me, but then I have only ever bought in Brisbane and surrounds.

Steve would say “Buy problems and sell solutions”. In buying a newly…[Read more]

Hi Sark,

Thanks for the clarification. From these extra words then, a few more questions spring :-

1. You seem to understand that the Equity in IP1 and 2 must be “available” – although you don’t include figures to demonstrate this, your comments re “LVR for both IP1 and IP2 will be 80%” gives me the impression you have this covered. So,…[Read more]

Hi RMAA,
I think your rant is totally justified – I would be seething too !!

Seeing that Jamie has replied, I would suggest opening the bidding with him to see if you may be able to “have your revenge and eat it too” (excuse me while I mix metaphors in midstream!)

e.g. If you are in the situation where you are able to refinance away from…[Read more]

Hi Shehan,
It always amazed me just how many different options become available to me when I talked with “someone who knows”… and when it comes to property finance, a Mortgage Broker is the way to go.

Of course, there are brokers and then there are Brokers (some buy a franchise and learn little more than what their franchiser teaches…[Read more]

Hi Sark,

I was wondering which is a better option. I have two IPS which have equity around 200K. I can service only one more loan of 600K. Should i use all of my equity and borrow the remaining 400K from new loan or should I just get the 10% equity and borrow remaining 540K from new loan.

In the long run which would be a better option

Since…[Read more]

Hi Keith,

Also I was asked to sign the buyers declaration about my price being final even though we are not in a multiple offers situation. Is this OK?

This sounds to me like a “function of that particular agent” rather than a normal way of doing business. Is this one of the “Jenman approved” ways, perhaps?

I was wondering if there were any…

[Read more]

Hi Keith,

Also I was asked to sign the buyers declaration about my price being final even though we are not in a multiple offers situation. Is this OK?

This sounds to me like a “function of that particular agent” rather than a normal way of doing business. Is this one of the “Jenman approved” ways, perhaps?

I was wondering if there were any…

[Read more]

Hi TheBish,

A quick search brought up this thread:-
https://www.propertyinvesting.com/topic/4404134-anyone-else-spooked-by-this-talk-of-removing-negative-gearing/

Look at the dates, and you will see that Labor was in power (the Gillard Govt.) and yet, with all of the clanging and rhetoric, that Govt. made no changes to the laws around…[Read more]

Hi TheBish,

A quick search brought up this thread:-
https://www.propertyinvesting.com/topic/4404134-anyone-else-spooked-by-this-talk-of-removing-negative-gearing/

Look at the dates, and you will see that Labor was in power (the Gillard Govt.) and yet, with all of the clanging and rhetoric, no changes were made to the rules that existed at…[Read more]

Hi TheBish,

A quick search brought up this thread:-
https://www.propertyinvesting.com/topic/4404134-anyone-else-spooked-by-this-talk-of-removing-negative-gearing/

Look at the dates, and you will see that Labor was in power (the Gillard Govt.) and yet, with all of the clanging and rhetoric, no changes were made to the rules that existed at…[Read more]

I agree totally with your results Terry. It made me sit up and take notice !!

Did you try doing the 5% one? Even that tiny amount made a HUGE difference to the take-home amount. It took nearly 40% off that $1m figure !! When expenses compound, they have a massive effect too.

Benny

I agree totally with your results Terry. It made me sit up and take notice !!

Did you try doing the 5% one? Even that tiny amount made a HUGE difference to the take-home amount. It took 40% off that $1m figure !! When expenses compound, they have a massive effect too.

Benny