Hi All,

It would be worth calling HSBC to find out if they still take 100% of rental income into account. I’m 99% sure that they use to do it.

Todd Burns
http://www.freepropertyhelp.com.au

Hi Martine,

My suggestions is find a good accountant that has his/her own property investments and understands multi property portfolios. These matters can be very complex. Once they have worked out your situation, taking into account all income, tax deductions etc, then you will know if you are heading for trouble or not.

Once your situation…[Read more]

Hi Seinafo,

I have used a few different depreciation companies. They have all done a good job but I like using Deppro quantity surveyors because their prices are usually lower.

My accountant and Lawyer are in NSW so they are probably not much good to you.

Keep checking out my new website because I eventaully intend to have these sorts of…[Read more]

Hi All,

I agree with Redwing that in future you should try and negotiate a $1000 deposit with the RE agent/vendor. The 5% or 10% that RE agents ask for is not something that you must provide. It is just what they ask for. This money goes into a trust account and it is released to the vendor upon settlement (with the balance of your payments…[Read more]

Hi 25 North,

I buy API magazine for the information that you are asking about and I think my wife might be getting me a subscription to it for my birthday because she knows how much I love reading it.[biggrin]

I also get Residex reports every once and a while to make sure I’m up on market research.

I have a line of credit loan which accesses…[Read more]

Hi All,

I agree that there was a time recently where CF+ properties almost dissapeared. I have noticed that they are slowly returning onto the market again though. They are there, you may have to search through creative ways, buy in a mining town, buy in a regional town negotiate the price down or do something creative with the property but the…[Read more]

Hi Tamtam,

I own a IP at Northlakes (Mango Hill) and use to own another IP at Deception Bay. These suburbs are not far from Caboulture. I bought land and built in Mango Hill a couple of years ago because it was a new estate and Westfields was opening up a huge shopping centre there. My IP has done very well

The Caboulture has experienced the…[Read more]

Hi Brizza,

I agree that you friend should talk to a knowledagble mortgage broker to find out what is possible with different lenders and diffrerent types of loans.

It is worth asking HSBC if their mortgages still take 100% of the investment property rental income into account (instead of 80%). This may help your friend borrow more.In this case,…[Read more]

Reglinda,

Yes, I can relate to you. Three short years ago I was in your exact position. My wife was scared stiff of using equity in our house to begin investing. We now own 4x investment properties and are about to buy our 5th. My wife is now the one who says- “Let’s go for it !!”. Here are my suggestions-

1. Listen to the concerns of your…[Read more]

Hi Salcious,

Yes, I have seen this one on the web and I have done a bit of research on Ingham in the past.

The return on this property is reasoanble if you can get the $410pw rent. The problem is that rates are usually quite high for blocks with units/flats on them so this eats into your return.

I recommend the following (along with normal…[Read more]

Hi All,

I found out that there are only 2x local building inspectors in Mt Isa and one is on holidays at the moment (the one that has a digital camera unfortunately)[angry2] Email me if you want their details.

Crusher
http://www.freepropertyhelp.com.au

Hi All,

Thanks WD and Ben for your feedback. I will respond to your requests. Keep watching the website http://www.freepropertyhelp.com.au because I will be adding more content soon.

I just received delivery of a recently released book titled ‘How to get rich rewards in Real Estate in 3 years’ by Phil Jones from Richmastery. I intend to post a…[Read more]

WindDrifter,
Here is a link to a FREE downloadable Ebook that I found very helpful to get my psychology adjusted before I started investing. It’s big picture information but I am amazed how principles in this book come back to me and help me to press on with investing in the face of difficulties- I’d love to know what you think after reading…[Read more]

Hi Investors,
I have read lots of people stating “THE Bank” will not lend me anymore money as if there were only one bank in the world. The mortgage market is huge and competition is fierce. Search around for non-bank lenders, credit unions, non-conforming lenders. Try this link for a list of lenders you will be blown away by the amount of loan…[Read more]

Hi Brizza
Last year I was informed that there were only 2x lenders mortgage insurers in Australia. One is Genworth Financial and I think the other one starts with a ‘P’. I was told at the time that they have slightly different rules and one may provide LMI for a geographical area that the other does not. I have a 2005 postcode security…[Read more]

Simon

Apology accepted. No hard feelings. I must add that I am an ideas person who endeavours to find ways to be legally creative in the way that properties are funded. As you know there are lots of ways of accessing loans and the critria can change to include people in situations that would have never been considered in the past. I will…[Read more]

Simon,

No, I am not suggesting fraud so please do not suggest things that I have not stated. As a mortgage broker you should not rely on limited information to rubbish another broker or investor. I suggest you assess your motives before making assumptions and accusing remarks.

I am here to try and help others with my investing experience not…[Read more]

Cathnniv,

I think there may be some confusion here. The main purpose of accessing equity in an existing property is to use it as a deposit on a new property so you don’t have to come up with the cash or have to pay mortgage lenders insurance. If I understand your situation correctly, you should have heaps of equity to get a $200K to $230K…[Read more]

To FF comm,

I find it strange that you know with such certainty what sort of loan deal that I have. In one way you are correct, I did not borrow 100% of the cost of the property, the property I purchased was $175K and the loan was for $182K to cover legals etc. This is MORE than a 100% lend. This was all in the one loan and did not involve an…[Read more]

You could try a low or no doc loan. All you do is sign to say that you can afford the repayments. The interest rates are higher on these loans but it may be the practical way for you to enter the market. You have good equity so you should be able to do better than what you have been quoted in the past. Just make sure you are sensible about the…[Read more]