Hi Simo,

I would feel all the work of the broker has been a total waste of their time & that doesn’t sit well with me. It also frustrates me the Way NAB have dealt with the whole situation.

I think you are answering your own question right there!

Like, why did it take an action from you to “go elsewhere” before NAB took any notice of you? W…[Read more]

Hi Bomberboy,

Bank rates are heading north and can accelerate as quickly as they came down.

Can’t say I agree with you there. It “might” have been the case if rates went back up again soon after they dropped to the floor.

But they didn’t – and we have had YEARS (almost a decade) of borrowings at ever higher vals (in some part because rates…[Read more]

Hi Bomberboy,

Bank rates are heading north and can accelerate as quickly as they came down.

Can’t say I agree with you there. It “might” have been the case if rates went back up again soon after they dropped to the floor.

But they didn’t – and we have had YEARS (almost a decade) of borrowings at higher vals (in some part because rates were…[Read more]

Nice result, Simo – well done !! Worth the “second opinion” eh?

Benny

Hi Jambv,

This doesn’t sound right. Any thoughts?

Sounds to me like the RE agent might have already given the tenant back their bond – unless you sold with the tenant “in place”.

Had you previously sought reparation via the RE agent (like 3 months prior)? Or was this a last-minute thought bubble? Was the house/unit on its own separate m…[Read more]

Hi Tom,

Do you have a particular question for us? If we know what it is you require, we might be able to provide some ideas.

Benny

Hi Simon,

I am going to assume a fair bit could be discovered up there & him not being able to tell me what the framing is made of suggests he didn’t have much of a look.

You have your head screwed on – sounds like his opinion might not be worth a pinch of hte proverbial after all. Under the circs, the cost to you for a second inspection c…[Read more]

Hi Andrew,

So giving this example, I advise people to understand how games work, before take any actions.

That applies to so many things in life, eh?

Thanks you for sharing your story, Andrew – I too hope it helps someone else to stay ahead of the game !!

Benny

Hi Simon,

My family and I moved to Brisbane over 30 years ago. Even back then, I regularly heard the words “termite activity” from inspectors. So long as it was “old activity” there seemed to be no big deal. Comments we heard then were like “Every second house in Qld has termite activity”.

You have done the smart thing and have…[Read more]

Hi Simon,

My family and I moved to Brisbane over 30 years ago. Even back then, I regularly heard the words “termite activity” from inspectors. So long as it was “old activity” there seemed to be no big deal. Comments we heard then were like “Every second house in Qld has termite activity”.

You have done the smart thing and have…[Read more]

Hi Lucy,
I know the name, but not the company, so I can add no value from personal experience. But, if you use Forum Search and input “Cashflow Capital” as the Search key, it will produce a number of threads that you can read.

This post…[Read more]

Hi Lucy,
I know the name, but not the company, so I can add no value from personal experience. But, if you use Forum Search and input “Cashflow Capital” as the Search key, it will produce a number of threads that you can read.

This post…[Read more]

Hi Ozzy,

This is sounding more and more complex. I am with Ethan and Jamie – you need to sit down with someone (Broker or Bank Rep) to discuss your options. There are right ways and wrong ways to unwind all of this – you will want to do it the right way.

I hate to say it, but “most” bank people only have info re their end of things,…[Read more]

Hi Ozzy,

This is sounding more and more complex. I am with Ethan and Jamie – you need to sit down with someone (Broker or Bank Rep) to discuss your options. There are right ways and wrong ways to unwind all of this – you will want to do it the right way.

I hate to say it, but “most” bank people only have info re their end of things,…[Read more]

Hi Simon,

Can I just get my broker to send out the valuers to the IP in 6 months and expect another wide range of numbers and just go with the highest for a refinance to go again?

WOULDN’T that be nice !! :p Unfortunately there are or two points that you need to consider.

When wanting to have a property valued to be able to withdraw some…[Read more]

Hi bbinvest,

According to realestate.com the median for a 3 bedder is around $400k. Check this out (if the link worked) as it gives details on just HOW the median has been calculated:-

https://www.realestate.com.au/neighbourhoods/cooranbong-2265-nsw

then click where it says “How this was calculated & copyright information” to see how they…[Read more]

Hi bbinvest,

According to realestate.com the median for a 3 bedder is around $400k. Check this out (if the link worked) as it gives details on just HOW the median has been calculated:-

https://www.realestate.com.au/neighbourhoods/cooranbong-2265-nsw

Note that 4 bedders get nearer to the $500k mark.

Benny

Hi Simon,

Or do you think it’s better to cop a few extra thousand on the loan to keep the cash in your pocket, specifically for renovations?

Short answer is “Yes!” – the risk level rises a bit, but a good reno uplifts the Equity, and likely allows an increased rental too. An extra few thousand of LMI costs little on a week-to-week basis. e…[Read more]

Hi Greg,

With a quick look, I would think you would want to do better than to add just $25k in Equity for $20k spent on renovations. The usual “rule of thumb” is to aim for doubling the money spent on a reno – i.e. spend $20k, but add at least $40k in value.

See, the fact that you appear to be buying well (buying a $250k place for $220k)…[Read more]