Total Members: 150,675

debtdogg

  • debtdogg replied to the topic Gold Coast in the forum General Property 14 years, 1 month ago

    Hi Getahead
    Once you have considered what Derek said and still decide to buy, subject to budgetary constraints, I would avoid townhouse style developments and renter units in big complexes. My homework suggests that these have little capital growth opportunity compared to houses here on the coast and there are always plenty for sale (meaning that…[Read more]

  • The way I understand it is if you clear the bad ones up and then are able to explain the reason for it in the first place (ie Divorce) you should be fine. If they are a few hundred dollars, get rid of them so they don’t come back to haunt you. Not just on this potential loan but any loan you may want down the track.If they are court judgments, you…[Read more]

  • Hi Toni

    I am a debt collector (Commercial agent). There is little doubt that (depending on the individual) using a commercial agent will get your money back more quickly because that’s what we do. Quite often the involvement of a third party is enough motivation to get them to pay. The biggest problem is keeping track of them. If they move…[Read more]

  • debtdogg replied to the topic Exit Clauses in the forum No Subject 14 years, 6 months ago

    A partnership arrangement is essential when it comes to contributions and profit (or loss) division and liability. If it isn’t in writing then it simply isn’t. An agreement should cover all scenarios if it is done correctly-but get a lawyer to do it.

    As far as an exit clause is concerned, it will depend when you want to exit. Obviously if there…[Read more]

  • debtdogg replied to the topic Best Lo Doc LVR in the forum Finance 14 years, 6 months ago

    Thanks Steven

    I will talk to you soon

    cheers

    markk
    Happy Hunting
    http://www.kentscollections.com

  • debtdogg replied to the topic Best Lo Doc LVR in the forum Finance 14 years, 6 months ago

    I have spoken to my broker but he has trouble getting anyone above the 60% mark without LMI

    Any suggestions as to which institutions I could try?

    markk
    Happy Hunting
    http://www.kentscollections.com

  • debtdogg replied to the topic Best Lo Doc LVR in the forum Finance 14 years, 6 months ago

    Thanks for the input guys.

    I am looking for an interest rate in the high 6’s with at least 70% LVR with no mortgage insurance (or at least paid for). I went to St george who have my current loan and they quoted me $8000 for mortgage insurance which I had to pay for an 80% lend. Prop value is $800000.00

    Someone mentioned Bankwest to…[Read more]

  • Hi grossrealisation

    Southport units that are 4 sale seem to be pretty common. Whole heap of brand new upper market ones have just come on the market(and also there will be more in November) 400K and up. The cheaper ones do sell but only if the price is right. Forget one bedders (unless it is in a redevelopment area) they don’t rent too well or…[Read more]

  • debtdogg replied to the topic GOLD COAST in the forum Help Needed! 14 years, 7 months ago

    I live on the Coast and g7 is spot on. The coast hit its peak with the rest of the country 12-18 months ago and prices are edging backwards on investment type properties. Most agents here talk it up as usual but just watching the real estate papers every week, there are a lot more properties coming back onto the market. They are still at the…[Read more]

  • By all means, do everything possible to make sure you are outwardly happy about the property but if your contract is subject to a satisfactory (to you) building and pest inspection, then I wouldn’t fork out the dollars until you strike a deal on one (with this clause in of course) then get out if you aren’t happy and look for…[Read more]

  • debtdogg replied to the topic FENCING in the forum Help Needed! 14 years, 8 months ago

    In Queensalnd you either need to get an agreement signed or a court or tribunal order FIRST. If you build first and ask later, the neighbour is not bound.Probably the same in other states.

    You will probably also find that the developer has incorporated a provision that limits or prevents him having to contribute to any dividing…[Read more]

  • Hi grreg

    “A few Weeks” sound optimistic if he is going to do all the work he says. I would get a more accurate estimate of the timeframe. If the renos are going to leave a huge mess then while they are going on (assuming things like the toilet and kitchen remain functional) I would offer him half the rent until the work is finished. One thing is…[Read more]

  • Hi wallace

    Not sure if you have found anywhere in SEQ for $100,000.00 but you would be lucky. Can’t even buy a block of dirt for that in this area. Realistically in today’s market you are looking at at least $150,000 and upwards and that is for an older place in areas like Ipswich which is “all the rage”. I have had a good look around there but…[Read more]

  • debtdogg replied to the topic Interest rate to 9% in the forum Help Needed! 15 years ago

    As interest rates rise then prices MAY drop depending on demand and the area but that is usually the scenario but if you buy well now there isn’t likely to be any great benefit in waiting because you will also be paying higher rates. Buy now if you can find the deal amd lock in the rate (up to 5 years) if you are worried about rises.

    That was a…[Read more]

  • Hi Steven

    Have had that thought but the moment we go over 60% LVR Mortgage Insurance kicks in and on the amount we are looking at we were quoted about $8000.

    Any repuable lo doc 80% lends without LMI or with low LMI. I know there are only a couple of morgage insureers out there.

    markk
    Happy Hunting
    http://www.kentscollections.com

  • debtdogg replied to the topic Exit Fees – Low Doc Loan in the forum Finance 15 years ago

    Hi Markk,
    At 7.32% the STG low doc rate is not competitive,

    Steven

    I would be interested in what rate would be competative in a lo doc variable rate scenario. I went thru a couple of matrices and sourced what I thought was about the best with 60% LVR.

    I am still looking for a lo doc high LVR (around 90%-most max out at 80%) without massive…[Read more]

  • In Qld you have to make an actual formal application to the Court to appear before the Magistrate. You will have to pay a filing fee etc to appear but if you don’t know the process and what to do they will send you off to a solicitor or legal aid. They will not advise you.

    I have heard about the Chamber Magistrates in NSW-great idea and obviously…[Read more]

  • In most states regardless of the nature of the tenancy Small Claims will handle the matter but Robert is right. Don’t go to the Res Tenancies Tribunal if it is a company lessee.

    In Qld you won’t be able to see a Chamber Magistrate (not sure about other states) and the court registry will only give general advice but it is a starting…[Read more]

  • debtdogg replied to the topic Exit Fees – Low Doc Loan in the forum Finance 15 years ago

    I think the St George low doc max LVR with interest only repayments is 70% LVR or 80% LVR with P&I, and the LMI premium is applicable over 60% LVR,
    With this in mind coupled with there higher low doc rates ….

    The stats are correct. We just finalised a split lo doc with St George and these were the figures.

    The interest rates I would query.…[Read more]

  • debtdogg replied to the topic Nundah or Ipswich? in the forum Help Needed! 15 years ago

    Why are you at 8.55%? Why can’t you just re-finance to a better deal? How is buying in one place or the other going to provide you with more equity?

    Maybe if you give us a better idea as to how you sit at the moment the people on this forum will be able to give you some better advice.

    markk
    Happy Hunting
    http://www.kentscollections.com

  • Load More

debtdogg

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