Giday Tass,
if you rent interstate then you have no Loans to worry about. Your PPOR (current) will then not be encumbered with a mortgage for a new house and you get to keep it. Once you’ve settled in your new job (you haven’t specified if with the same company or new company) you can then revisit the idea of purchasing a new PPOR or other…[Read more]

G’Day unified,
would be nice to have a bit more info on what your talking about, but what deposit are you factoring in?
When you talk about regional towns, how regional and what is in these towns (minig, fisheries,???) any new developments?
I live in a regional town and return rates depend on these issues, like anywhere else. Throw us a bone here…[Read more]

Cheers Redwing,

I have found most banks like to see a builder involved at that price as well. Unless I chose to go for a personal loan, at which time they only cared that I can repay the money.

Cheers

C@34

Hi all,
Firstly, to all those lovely people that have counceled me and have asked for payment, I pay in 5c pieces (refer to Jo’s comment). That’s all I can get out of my 3yr old son (Child labour payments are still what they have always been!)

Secondly, I must clarify, the emotion comes from the, as thecrest correctly identified, the thrill of…[Read more]

I like “The Richest Man in Babylon”; point of order though, it speaks of living off 70% of your income, putting 10% towards investments, 10% towards ADDITIONAL debt reduction and the final 10% into charitable giving.
The last point scares a lot of people I have spoken to, “why should I give away my hard earned cash?”, simple give and it will be…[Read more]

As I’m just starting, I’d like to, at this stage:

1.buy and hold, with a prefrence towards +CF (as most on this forum),
2.pay off the mortgages as quickly as possible to further increase my cF (something I’ve learned form my last boss “reasons for businesses failing is cashflow! You got none you close!”
3.once there are sufficient +CF IPs, start…[Read more]

Hi all,
I’m new to all this property investing and still trying to learn the ropes of how to safely invest. THe one question i have is that, i currently rent, i only pay 1/3 of the rent to my partents, but want to buy a house for us to live in. Is it better to purchase a house of my own first, considering i’ll get the first home owners grant and…[Read more]

https://www.propertyinvesting.com/forum/topic/12465.html

hope this link works. Just found it – others opinion on ‘low-balling’.

Cheers

C@34

Talking about offers,
what is the general feeling on “low-balling”? I am in the process of finalising the purchase on my home and I offered $16k under the asking price. Fortunately for me, the valuation came in at $15k under the asking price.
As a vendor I’d hate to be ‘low-balled’, but I am looking at this from a business point of view and buying…[Read more]

Dave,
interesting choice of webpage on your profile! Perhaps you could use you interest there to pay for any new investments????

Other than that, it looks as though you have plenty of Capital in your existing home to finance the new property and a separate loan. You just have to show that you can service it with an income.
I took 20% deposit and…[Read more]

Hi all,
I used to work in a bank (don’t hold it against me!). The one thing they used to drum into our heads all the time is that there is :”only one wat to do banking, and that is the Banks way!”. WHich is code for if you stuff up and you can show you followed procedure then they’ll back you up, if not …. you, the teller, are on your…[Read more]

bburham,
good advice! I live in the far north WA and every second house is ‘fibro’. People that are here to invest use the BHP Colorbond sheeting to “wrap-up” the potential problem and copy what is locally known as a ‘Broom Style Home’. It is basically a fibro house that is clad in Colorbond sheeting and looks very smart. I don’t have a picture…[Read more]

Good post Waynel2,
I personally use Georgina from VIP Settlements, 9321 1010.

They too have saved me from falling into a financial black-hole and have giuded me, as far as they were allowed. I believe these people are working hard and deserve our support more.
just my oppinion.

Cheers

C@34

Sorry KP, I should have asked you first!

For a pre-approved, do you have to nominate the area you intend to buy? Didn’t think you had to note the property but hadn’t thought about a locality?

No not realy, the banks here are well versed with what is available and where it is. The clauses they put in is subject to the banks satisfaction of the…[Read more]

Jhopper,
in a word “BULL”, I have had a loan with one of the four big Banks pre-approved to a LVR of 95%. You are limited, though, the the four Big Banks and Bank West is also in town.
I don’t know about regional/rural areas, but the CG/CL (capital Loss) of this kind is typical in Hedland! In a down cycle people can’t sell brick houses for $120K…[Read more]

Hi-ya Mist1,
have you ever read any of Anita Bells books? I’m not advocating her style (she’s got bigger b..lls than me and is too agressive for my liking – all the best to her), but she makes some very good suggestions about a (I think she called it) a House card. It is a summary of your house details, phone numbers, service providers she…[Read more]

bnr,
What?

Sorry, trying to read your post I needed to stop myself for a breath.
1.Why are you selling?
2.Why can’t you draw on equity?
3.Why is it so urgent?
4.Why (if investing the money) can’t you do a wrap style purchase?
I don’t mean to be slow, but some more info would probably make the advice more suitable to your situation….. just a…[Read more]

I hear you Jo,
I didn’t like the tone taken by Clement in passing “judgement” on others. Most of us have skeletons in our closets (because most of us are human), so stating that Clement thought people screwing vendors around is disgusting in their eyes is stating an opinion; putting it the way it was put made it a judgement. My opinion,…[Read more]

Hi all,
just to throw the cat amongst the pigeons, lets consider this lovely old lady sells the house at full market value, gets cut off from the pension (boohoo) has one hell of a good time for however long it takes to spend the sales profit (which would be all the $$ less commissions and taxes) and at the end comes back to earth to join up for…[Read more]

Hi apmal17716,
first thing first, is your house worth it? Not personally but will the reno improve the market value, if so by how much?
Then, from my experience, banks like it if you can actually pay for the additional loan, so you need to proove that you can service the new loan, the mortgage, any other loan/CC/store card and still live. Dead…[Read more]