PropertyInvesting.com | FrenchChineseMan | Activity https://www.propertyinvesting.com/members/frenchchineseman/activity/ Activity feed for FrenchChineseMan. Sun, 12 Apr 2026 16:50:54 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 5dfed8ae666aac5dcf000f16c91e98ee FrenchChineseMan replied to the topic Buying a property without finance pre-approval in the forum Help Needed! https://www.propertyinvesting.com/topic/5013866-buying-a-property-without-finance-pre-approval/#post-5013871 Sun, 27 Sep 2015 00:33:07 +0000 I suggest you contact your broker and still go for a pre-approval asap.
Even if you miss this property, there will be plenty of others available which will suit you well, I’m sure.

Otherwise, if you want to go ahead with a contract of sale, make sure you put it conditional to Finance Approval (otherwise, it’s a big risk for you…)

]]> f537ca20efd06bae26891a0e71384f84 FrenchChineseMan replied to the topic Thoughts on Ballarat? in the forum Help Needed! https://www.propertyinvesting.com/topic/5010979-thoughts-on-ballarat/#post-5011071 Tue, 04 Aug 2015 01:22:21 +0000 I have one property in Ballarat (Golden Point) and my PM told me the vacancy rate has been increasing in the last 6/12 months, following lots of investment from Melbournian there…

]]> 540aa2384dd0175fb26473458e0613c4 FrenchChineseMan replied to the topic Expat property investing in the forum Help Needed! https://www.propertyinvesting.com/topic/5011047-expat-property-investing/#post-5011052 Mon, 03 Aug 2015 23:47:52 +0000 Hi PE,
I’ve been living overseas for 4 years now and I purchased 2 properties in the last 2 years in Australia.
Each time, the process has been quite smooth and mainly thanks to a great team working for me.
I used a broker to organise the finance and a buyer agent to source the properties. While it brings a bit of stress to be far from the action…[Read more]

]]> a258fcfb19354a9a321ec8a54b47cb04 FrenchChineseMan replied to the topic Finance formally approved... but in fact, not! in the forum Finance https://www.propertyinvesting.com/topic/5009685-finance-formally-approved-but-in-fact-not/#post-5009923 Tue, 30 Jun 2015 06:00:44 +0000 Hey Jacqui, you’re right that I owe a big Thank You to Richard for this one.
As I’ve only been aware of the issue at the end of the few days discussions, and a clear way forward was proposed to me, I didn’t stress much about it. As you mentioned, having a great team of skilled people is really key in such situation.

]]> c801dab66e60f23cee5cda24fde28a35 FrenchChineseMan started the topic Finance formally approved... but in fact, not! in the forum Finance https://www.propertyinvesting.com/topic/5009685-finance-formally-approved-but-in-fact-not/ Sun, 28 Jun 2015 05:41:53 +0000 Hi all,

I would like to share a story that just happened to me:
My wife and I just purchased a new IP in Brisbane. Contract was signed mid-May, subject to finance approval.
Before going into contract, we were conditionally approved (in April) for a larger amount than what we bought the property. After the contract was signed, my broker submitted…[Read more]

]]> 16182a68e218271af46c6872690f790a FrenchChineseMan replied to the topic Negative Equity: Can Bank ask you to put some money down? in the forum Help Needed! https://www.propertyinvesting.com/topic/4990319-negative-equity-can-bank-ask-you-to-put-some-money-down/#post-4990381 Mon, 12 May 2014 00:29:02 +0000 Good to know. Despite my username, I am an Australian citizen expatriate overseas…
Do you know if CBA would go up to 90% LVR for expatriates?

]]> 9fe1a595f456ea3a24f0cb1ad49d7a44 FrenchChineseMan replied to the topic Negative Equity: Can Bank ask you to put some money down? in the forum Help Needed! https://www.propertyinvesting.com/topic/4990319-negative-equity-can-bank-ask-you-to-put-some-money-down/#post-4990358 Sun, 11 May 2014 12:50:29 +0000 You’re right, it’s StGeorge.
Does CBA also provide loan for non-resident (without too much hassle)?

]]> ca291fa14f6a6b74c9ace46470272fba FrenchChineseMan replied to the topic Negative Equity: Can Bank ask you to put some money down? in the forum Help Needed! https://www.propertyinvesting.com/topic/4990319-negative-equity-can-bank-ask-you-to-put-some-money-down/#post-4990345 Sun, 11 May 2014 06:54:40 +0000 Thanks Colin.
IP#1 & #2 are with different lenders but for IP#3, likely I will have to go with the same lender than my last purchase as I don’t live in Australia and and there are few lenders that allow loan for non-resident (for this level of LVR at least).

]]> ca31f31717594bf35d67a55a87adae5d FrenchChineseMan replied to the topic Negative Equity: Can Bank ask you to put some money down? in the forum Help Needed! https://www.propertyinvesting.com/topic/4990319-negative-equity-can-bank-ask-you-to-put-some-money-down/#post-4990326 Sat, 10 May 2014 10:52:21 +0000 Thanks for answers, guys.
I’m not in this situation, and I hope I never will, but I wanted to have visibility on this.
Have 2 IPs today: IP#1 (500k at 80% LVR but fully offset), and another one recently bought (IP#2 @230k at 90% LVR)
I’m keen to go to another purchase in the coming months, likely to be at 90% LVR again. So good to read that, in…[Read more]

]]> 8f4f32bb55709852ecc6487e63d6b2f0 FrenchChineseMan started the topic Negative Equity: Can Bank ask you to put some money down? in the forum Help Needed! https://www.propertyinvesting.com/topic/4990319-negative-equity-can-bank-ask-you-to-put-some-money-down/ Sat, 10 May 2014 05:45:16 +0000 Hi all,

I wanted to know what happen if you arrive in a negative equity situation.
Let’s say you have purchase a property at 90% or 95% LVR. Then market goes down and you owe more than what your property is worth.
Can the bank ask you to pay down some money in order to go back to, at least, positive equity?
Or the bank can’t ask you anything (As…[Read more]

]]> f1455c6fb59912e0c77e1d10fe59fb0d FrenchChineseMan replied to the topic Greetings. I wish to introduce myself to the group in the forum Help Needed! https://www.propertyinvesting.com/topic/4989661-greetings-i-wish-to-introduce-myself-to-the-group/#post-4989686 Wed, 23 Apr 2014 02:44:17 +0000 Your first few posts have all been challenged so far. I hope you will take more time to understand how this forum works as moderators are already scrutinizing your inputs…
Good luck.

]]> da02dca21e0b588f5782bd8c10cfb861 FrenchChineseMan replied to the topic Buying from overseas - How to trust your local team? in the forum Help Needed! https://www.propertyinvesting.com/topic/4410807-buying-from-overseas-how-to-trust-your-local-team/#post-4699910 Sat, 15 Mar 2014 04:32:33 +0000 I guess there is no big difference between buying from overseas and buying interstate site unseen (in terms of trust of people you work with, at least)
As said in previous post, you have to make your own due diligence on whoever you want want to work with and not just choose from the nicest website…
Quite a few posts on this forum from people…[Read more]

]]> 88622abc1ec484566ced69ad7b1143a7 FrenchChineseMan replied to the topic Fund for child in offset or not? in the forum Finance https://www.propertyinvesting.com/topic/4410827-fund-for-child-in-offset-or-not/#post-4700008 Sat, 15 Mar 2014 04:25:44 +0000 If you have your friend cash on your offset account but pay him some interests just below your mortgage interest, the gain is quite minimal for you, isn't it?
You will just gain (rate of loan – rate your make to your friend) * amount of cash he has on your offset.
It looks more interesting for him than for you, but you still have a little bit of…[Read more]

]]> aa676d26c55ad5be9de1e8731517d1e6 FrenchChineseMan replied to the topic offset higher than variable loan balance in the forum Finance https://www.propertyinvesting.com/topic/4408442-offset-higher-than-variable-loan-balance/#post-4683900 Sun, 13 Jan 2013 13:19:15 +0000 Thanks Terry.
I thought it would be the opposite. What my accountant wrote me (but I might have misunderstood it) is:
"Please note that any interest income earned whilst you are a non-resident of Australia for income tax purposes, the interest income should be taxed at a non-resident withholding tax rate of 10%"
If I would be resident for tax…[Read more]

]]> 777a551f5eeb1cd4ddd213b01a3b654a FrenchChineseMan replied to the topic offset higher than variable loan balance in the forum Finance https://www.propertyinvesting.com/topic/4408442-offset-higher-than-variable-loan-balance/#post-4683897 Sun, 13 Jan 2013 12:39:19 +0000 I'm living in China now and I'm not anymore a resident for tax purposes since Jan 2012.
I plan to come back living in Australia in 2014, and therefore will become again a resident for tax purpose but my issue would be fixed by then (fixed loan would have switched back to variable)
What is the impact to be or not a resident for tax…[Read more]

]]> fb386f60bf5134b0a58a749671062488 FrenchChineseMan replied to the topic offset higher than variable loan balance in the forum Finance https://www.propertyinvesting.com/topic/4408442-offset-higher-than-variable-loan-balance/#post-4683893 Sat, 12 Jan 2013 08:22:09 +0000 You're right:  the property I purchased in Oct 2011 was my PPOR and is now an IP. But I'm just renting it for the duration of my work assignment overseas, so it's not a "permanent IP"…
I plan to come back to Australia at the end of my assignment (in at least one year time) and will live again in the property. 
So I don't have any other loan on…[Read more]

]]> 3b486bcac5ee42538390fdb80d58eeff FrenchChineseMan replied to the topic Leaderboard ? in the forum Opinionated! https://www.propertyinvesting.com/topic/4407541-leaderboard/page/2/#post-4676895 Thu, 25 Oct 2012 14:29:51 +0000 Still don't get why the leaderboard points does not match the profile pop-up window points…

]]> 4b6cc534bbc4c1190b92dac95699aa61 FrenchChineseMan replied to the topic insurance in the forum Help Needed! https://www.propertyinvesting.com/topic/4407813-insurance-26/#post-4678933 Mon, 08 Oct 2012 10:24:52 +0000 Would you mind telling us which suburbs are your properties?
It might prepare some of us for an upcoming bad news…

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