If you took a Line Of Credit over your property and they offered you 80% loan to value ratio.
So based on your property $260k the Line of Credit of 80% would total $208k.
From what you said, you already owe more than that so I don’t think you would have much luck obtaining a line of credit.
You would have to either increase the value of your home…[Read more]
If you are offering good security, let me know the deals, my mates and I are always into lending money with good returns.
But solicitors are the only way to go, protect both parties with a contract and security documentation.
We never lend unsecured. NEVER!!!
IN SA there is no lease letting fee, I had agents in NSW and they used to charge that fee to the tenant. AS for the agents fee 8.8% including GST doesn’t sound steep provided most things are incorporated in that. The only other fee I usually pee other than a management fee is one week letting fee when they get me a new tenant, and advertising at…[Read more]
HI Poch Poch,
All I can say is from your statement are you trying to tell us that a positive geared property doesn’t increase in value and hence has no capital gain value?
If I was earning 2000 extra a year instead of losing 2000 a year on a property I would be using that to take my next step. The funds can be used to either pay down your loan…[Read more]
I would offer 15-20% less and take a risk, but only after I have checked rental returns in the area and asked a few other agents in the area about that property. They may have had it on their books prior and know what the problem is.
I use the following
Corporate trustee being a Pty Ltd company that you are the director of.
Family or Discretionary Trust
Beneficiaries would be you , your kids and another company that you are also director of.