Forum Replies Created
Supply and demand will be the biggest factor as well as continued wage growth combined with comparatively low interest rates.
I'm not a crystal ball polisher but it seems to be holding up ok and looks that way for the foreseeable future, but who knows whats really going on behind the scenes???
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Yes.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
bla0018 wrote:So save as much into an offset account and use that as a deposit for the next home? Sorry for all the questions just want to get a good grasp of how I should set up my portfolio thanksUse the available equity in the PPOR for the deposit on the IP. If not enough available then pay down some of the PPOR loan and reborrow.
Based on your post it would be ok to go to 90% LVR on both properties.
As it is borrowed funds it is tax deductible where using cash is not.
Questions are great, don't be sorry, its how we all learn and there is no such thing a a stupid question (almost).
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Ask one of the brokers on here to run some numbers to see if you can afford to service both debts. It would take 5 minutes to determine and I'm sure some words of wisdom would also be provided along with the outcome.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
caveatemptor wrote:Do you have link to somersoft?http://somersoft.com/forums/search.php?searchid=7453712
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Benny wrote:In my case, I deliberately held off investing for nearly a year, over which time I read several books, visited property forums, and went to seminars. Along the way, I met many others who were already investing in property. Some were developers, some were "buy and holders", some were buy/reno/sell, and some were buy/reno/refinance/hold – and some were wrappers, flippers, etc.Golden advice Benny that if headed would save a lot of people a lot of pain. In saying that many have "got lucky" through market timing but if they fail to do the above can end up worse off eventually.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Depends on the buy in price of the property as money is made at purchase, in the short term.
You could potentially buy a property for cash under market value preferably and do a reno, get the property revalued and repay all of the money.
Not recommending you do this as I don't no your level of expertise and you would have to have all your ducks lined up and know what you are doing to pull it off but reckon its possible.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Go along even to learn what not to do and warn a few others just quietly.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Benny wrote:I don't know what is in a name, but Port Hedland is a place on my Bucket List (in reality, I'd like to see a whole lot of the West Coast).
Well worth the effort, not sure about PH though but the west coast is amazing as the landscapes change several times if you start in the south west and work your way up to the Kimberleys.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Perth had a great year in 2013 and still some room to move in 2014 according to the local experts whom I know one personally and the other is reputable;
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Jamie M wrote:At 90% NAB are still going to want a full val. I think it's worthwhile pursuing but there's still the risk of the val coming back with issues due to the lack of comparables. Don't get your hopes up but it's worth a crack.Or NAB sends out the same valuer. Take Shahins offer to try and avoid this.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Every property has a title deed which is a is a legal document used to prove ownership of a piece of property.
The bank you have your mortgage with will hold this title deed that will list you as the legal owner.
Once the property is sold and the debt extinguished then the title deed is transferred to the new owner and bank if different from your bank.
Whatever funds are left, in this case circa 150k will be disbursed to you unless the property is linked or cross collaterlised to another property/s and the bank decides to pay down some of the remaining debt which does happen from time to time.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Land is what increases in value and building s decrease in value over time.
As long as you can Tennant the house and land then that would be my option for the reasons mentioned above.
Also would advise going interest only with an offset rather than pumping the extra funds into the first property. That way you keep your options open.
Well done, sounds like you are in a great position to create potential wealth.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Different lenders servicing varies dramatically. Doesn't make sense to the uninitiated but its a fact that cant be ignored.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Yes it is fine to do so. She may require permission from FIRB (foreign investments review tribunal).
Interest rate will be the same.
Advice from a tax accountant & property lawyer would best be sought in regads to ownership and your future investment plans would need to be considered as well as incomes and whether the property is a PPOR or IP?
I would also recommend talking to a knowledgeable broker to run some numbers on serviceability.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Escal8 wrote:Just ensure that your loan's offset account is true 100% offset as I've heard that a few aren't and catch people by surprise.St George are notorious for this if you don't choose the correct offset. There system has a glitch on interest only loans where the assessor at application stage cant choose a true 100% offset account so needs to be rectified post approval.
Last count St George had four different types of offset accounts.
Banks are like little children. You can give them instructions but always pays to check that they have actually followed them, always!
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
mattliasiian wrote:But what if I get emotional attached to the property and decide to live their forever will this loan structure strategy still work ???Yes it will still work even if you live there forever.
Example;
500k purchase price + 500k in the offset = no mortgage payments and 500k cash available as required with out going to the bank to ask for it and if you change your mind take the cash with you and rent the property and you have preserved the principal.
To use a cliche, win win.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
LOC has the same benifits as an SVR (standard variable rate) from my understanding.
Only difference I can think of is the ability to capitilise interest. You would want to get specialist tax advice from an accountant if you where to consider this.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Broker HQ is great like google for finance.
Connective seem to be the best value as an agregator so may be worth exploring further.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
Via my aggregator, AFG.
Colin Rice | CDR Finance
http://cdrfinance.com.au/
Email Me | Phone MePerth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]
