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  • Profile photo of downdoggydowndoggy
    Member
    @downdoggy
    Join Date: 2005
    Post Count: 4
    March 17, 2005 - 3:53 am

    Thanks terry. i will keep looking for a better deal!

    Originally posted by Terryw:

    You should only put more cash into a deal if you haven’t got an existing home loan. If you have an existing home loan, it would be a lot better for you to place the money on the home loan.

    Putting down more cash will also slow you down, as you will run out of deposits quicker.

    Terryw
    Discover Home Loans
    Mortgage Broker
    North Sydney
    [email protected]

    Profile photo of downdoggydowndoggy
    Member
    @downdoggy
    Join Date: 2005
    Post Count: 4
    March 17, 2005 - 3:51 am

    Thanks for the great advice willi. I had considered this aspect but it is better to hear from someone with experience, so thankyou!
    quote]Originally posted by willi:

    My suggestion would be to do the numbers on a situation when putting more then 20% down based on a Cash on Cash return.
    What often occurs is that by putting more cash into the property upfront to make it +CF it results in the cash on cash return being very low. Basically you want to make sure that your investment is atleast returning a cash on cash return equal to what the bank is offering as that is risk free.

    …Beware of the dreamtakers…

    BTW – I was part of the MAP Program and am more than happy to answer and questions/comments you may have – Happy Investing…
    [/quote]

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