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  • gus123 replied to the topic The best way to work out borrowing capacity in the forum Finance 1 week, 5 days ago

    Great responses, thanks for the time taken guys.

    As stated earlier I have dealt with MB’s before but purely in a owner occupier mindset. I would have assumed that strategy and the properties you buy has an impact, but I have clearly underestimated how much of an impact, all part of learning I guess.

    Again, thanks for the responses.

  • gus123 replied to the topic The best way to work out borrowing capacity in the forum Finance 1 week, 6 days ago

    Really? I can entirely accept that may be the case, and evidently is, but how do you approach the market as an investor if you cant work out your capacity? Do you just put in an offer and work out if the banks will lend later?

    It may seem like a stupid question, but my experience is purely owner occupier so its all a bit different.

    I can very…[Read more]

  • gus123 replied to the topic The best way to work out borrowing capacity in the forum Finance 1 week, 6 days ago

    Thanks Corey,

    I’m really trying to figure out a ball park figure, ultimately it will depend on the property but I’m not really sure where to look until I have some idea if my potential to borrow. The info Richard has provided is exactly what I was after at this point.

    Cheers.

  • gus123 replied to the topic The best way to work out borrowing capacity in the forum Finance 1 week, 6 days ago

    Thanks Richard, very helpful.

  • gus123 started the topic The best way to work out borrowing capacity in the forum Finance 2 weeks ago

    Hi all,

    Just wondering if anyone had any idea how I can get an accurate idea on borrowing capacity. I’ve tried some of the online calculators but the results don’t seem very accurate or reliable. I have a reasonable amount of equity but my hurdle is income tests at the current time.

    My finances at a glance are…I earn $71k gross and my partner…[Read more]

  • gus123 replied to the topic Give away my education material in the forum The Treasure Chest 4 years, 1 month ago

    Id love to take these off your hands. Im in Ipswich but I would be willing to pick them up today if youre available.
    What suburb are you in? Im on 0448952858. If you msg me your number Ill give you a call.

  • gus123 replied to the topic Concrete or stepping stones/gravel for side access? in the forum Value Adding 4 years, 1 month ago

    Concrete is better, but I would say that, Im a concreter.

    For comparison concrete is around $50 a square metre, more from a big company and less from a dad and dave team.
    Stepping stones and gravel would be very easy to do yourself, depending on access. Just level the area and remove any grass/weeds and put some builders plastic down to stop them…[Read more]

  • gus123 replied to the topic help with 1st time investing strategy. in the forum General Property 4 years, 1 month ago

    Firstly I have to say thank you to you all. I really appreciate the responses and this forum is obviously a great knowledge builder. I have broken down the points to respond and clarify.

    You haven't indicated what sort of income you are on.
    I am on $70,000 and my partner is on around $20,000

    I would suggest meeting with a good broker
    Im halfway…[Read more]

  • gus123 replied to the topic help with 1st time investing strategy. in the forum General Property 4 years, 1 month ago

    I guess thats what my question comes down to. Am I better off looking for good growth on my first property in order to expand the portfolio or should i look for good returns. I guess the ideal would be to value add and look for both but I have found it hard to get any info on splitting to dual occupancy or subdividing. Is there a good starting…[Read more]

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