Colin Rice replied to the topic Boarding house in the forum Value Adding 3 years, 3 months ago
Finance, if required will need to be commercial as well.
Colin Rice replied to the topic Can't sell a Cashflow Positive/Neutral Property – market slowdown? in the forum Help Needed! 3 years, 3 months ago
Its normally always the price but as mentioned could have a dud agent as well.
Colin Rice replied to the topic Refinancing with no current job in the forum Finance 3 years, 3 months ago
2 major boxes need to be ticked;
1. Security – being at 50% you are sweet there
2. Income – you will need to demonstrate income above and beyond all outgoings including living expenses which will leave you with surplus income that would need to cover the repayments at between 7-8% inmost cases.
Colin Rice replied to the topic Melbourne vs Brisbane ? in the forum General Property 3 years, 3 months ago
Very interesting and if that is the case then you could consider Melbourne over Brisbane for short to medium term growth.
Hopefully can generate some equity that you could then pull to purchase in Brisbane.
Colin Rice replied to the topic Melbourne vs Brisbane ? in the forum General Property 3 years, 3 months ago
Very interesting and if that is the case then you could consider Melbourne over Brisbane for short to medium term growth.
Colin Rice replied to the topic Pros and Cons of dual occupancy properties in the forum General Property 3 years, 3 months ago
Investors can assume that adding a 100k GF will automatically add 100k to the value of the property but this usually is not the case so be aware of possible over capitalization.
Colin Rice replied to the topic What to do with 250K but with no borrowing capacity? in the forum Help Needed! 3 years, 3 months ago
Who is doing those @qlds007 ?
Is it via private funding?
Colin Rice replied to the topic What to do with 250K but with no borrowing capacity? in the forum Help Needed! 3 years, 3 months ago
Who is doing those @qld007 ?
Is it via private funding?
Colin Rice replied to the topic What to do with 250K but with no borrowing capacity? in the forum Help Needed! 3 years, 3 months ago
Who is doing those @Richard Taylor?
Is it via private funding?
Colin Rice replied to the topic Where to save your money for down payment? in the forum Finance 3 years, 3 months ago
I think a TD is the safest bet.
Citibank are paying 3% atm.
Here is a list of the top offerings – https://mozo.com.au/term-deposits
Colin Rice replied to the topic 7.25% interest rates? in the forum Finance 3 years, 3 months ago
Depends on who you listen to?
Some bank analysts are projecting 2 x interest rate rises in the next 12 months yet others are saying it will stay flat. I am of the later school of thought.
RBA will likely sit on their hands until they go numb or number and will have a “see what happens” approach before making any moves.
With banks no longer…[Read more]
Colin Rice replied to the topic Underquoting and how to deal with it? in the forum Help Needed! 3 years, 3 months ago
I would send a copy of the SOI to the agent via email with a “please explain” and if not satisfied with the explanation insist that the info in the SOI is congruent with the advertised price.
May be a specific and strategic reason for the agents capers so give them a chance to explain and if not satisfied take it further referring back to the…[Read more]
Colin Rice replied to the topic Setting rental price help, equity and units in regional areas! in the forum Help Needed! 3 years, 3 months ago
Ask a local PM/Real Estate Agent to do an appraisal for you, both for sale and rent.
I would highly recommend you engage a PM to manage the property for you.
Check with your finance guy that you can service the debts involved with your current and future plans.
All the best.
Colin Rice replied to the topic Melbourne boutique apartment worthwhile? in the forum Help Needed! 3 years, 3 months ago
The key with smaller complexes is the land to building ratio.
The higher the land ratio then the greater potential for capital growth, as land goes up in value over time and buildings depreciate in value over time.
Often the older style dwellings are located in prime positions with a high land to building ratios and worth a look for this very…[Read more]
Colin Rice replied to the topic Dealing with pedantic tenants in the forum Help Needed! 3 years, 3 months ago
Find another PM to work with and consider not renewing the lease for the current tenants.
Property investing generally has 3 “business partners” in the equation;
1. The tenant
2. The tax man
3. Financier
In your case its #1 and they dont seem like an appropriate business partner so have them replaced with one that is.
Colin Rice replied to the topic Bank Lending Flexibility – As If Complete vs In One Line Valuations in the forum Help Needed! 3 years, 3 months ago
Some resi lenders use “in line” and some use “end values” so the key is selecting the right lender to minimise the cash injection required. Small lot savvy brokers will know who is who in the zoo.
Less are going the “end value” route and more the “in line” method in my experience of late as the later presents less risk to the lender.
Colin Rice replied to the topic Should I buy a Principal Place of Residence or Investment Property first? in the forum Finance 3 years, 3 months ago
Nice, detailed write up Corey :)
Renting as opposed to purchasing a PPOR can increase your borrowing capacity depending on your individual circumstances taking into account your short, medium and longer term goals.
Rent is taking at actual repayment in a banks serviceability calculator where as PPOR debt will be calculated at between 7-8%…[Read more]
Colin Rice replied to the topic Mega conference 2017 question in the forum Finance 3 years, 3 months ago
Dont know as wasn’t there. Plenty of reputable brokers on here to choose from that will be able to assist if you shoot them a PM or email with what you need to accomplish.
Colin Rice replied to the topic Purchasing a house with a line of credit in the forum Finance 3 years, 3 months ago
Realistically it will be circa 4.5% on an IP depending on the lender and loan structure.
Colin Rice replied to the topic Looking at Latrobe Financial in the forum Finance 3 years, 3 months ago
As Corey stated a second opinion would be a good idea.
Latrobe are pretty hefty when it comes to fees and rates compared to other lenders.
Once you ascertain you have no other viable options will the expected ROI (return on investment) potentially out weight the costs and risk involved in refinancing and assuming a “cash out” component as well?
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