Forum Replies Created
Hi Maxipes
Welcome to the forum.
This recent thread might be of assistance – /www.propertyinvesting.com/forums/getting-technical/legal-accounting/4335578
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Sam
Just in case things seem a little confusing because of all the names being thrown around, the general consensus is that the advantedge product (however it’s dressed up) is generally a good one and it should cost you nothing upfront or on an ongoing basis (at present).
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi getrich
If you want to work out whether a property might be cashflow positive or negative you could have a play around with figures on the IP spreadsheet on my companies website – http://www.passgo.com.au/pass-go-investment-property-analysis-tool
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Luci
Here’s a similar thread that was created recently that might help (it’s not Melbourne specific but it does regard OTP purchase) – https://www.propertyinvesting.com/forums/property-investing/help-needed/4335329
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Yes – it’s called a construction loan.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
What do the comparable sales look like within the area? That’s one of the best things (in my opinion) about residex reports – the snapshot it provides on sale prices of similar properties within a close proximity.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I didn’t realise there was a direct option.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
PM Richard Taylor (Qld 007) for a recommendation. Richard’s a mortgage broker but I’m sure he’ll have some good accountancy contacts up there.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Should be $0 application and $0 ongoing. That's what I get through my aggregator.
Here's some info – http://www.choicelend.com.au/products/index.htm
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I think the advantage product is quite good – for low LVR deals especially – currently 6.88 for anything less than 65% LVR. There line of credit is equally as competitive at 7.03%. They also have no application/ongoing fees. They don’t offer an offset which is a bit of a bummer.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Haha, that explains the confusion re the paper trail.
Serviceability = borrowing capacity.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
I provided a few comments in this thread – https://www.propertyinvesting.com/forums/property-investing/help-needed/4335329
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Joel
Which lender are you currently with? As number 8 mentioned, as long as serviceability is fine, it should be possible accessing some of that equity.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Agree with most of the others, can’t see any reason why First Mac would be the number one option. Might be worth while getting a second opinion.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi Sam
There’s a few variables that determine what’s “best.” For a low LVR, Homeside can be a good option, for investors with lean borrowing capacity, AMP can be good. What’s best ultimately depends on the applicant(s) situation and the security on offer.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Agree with the above, take it out. Besides, an extra month or two of premiums isn’t going to cost a great deal.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
JacM wrote:speak to your bank and make very very sure that they will finance the purchase of that property in particular if you win the auction. You don't want to win the auction, which obliges you to buy, and then find you can't finance it. You could get seriously sued for breach of contract.That’s the same point I was going to make. If you haven’t already, organise a pre-approval.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Terryw wrote:I would strongly advise you not to invest there!Which one Terry? Thailand or Indonesia?
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi again
Do you mean mortgage broker or financial adviser?
If broker, I don’t know of any in Albury that I could recommend. However, with today’s technology it’s pretty easy to deal with any broker you choose irrespective of their location. Everything can be done via phone/email/fax.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Hi BelleStar
The best advice is to spend this time learning. Read lots of IP books, frequent forums like this and start saving a deposit. There’s a number of good authors to look up – Lomas, Somers, Yardney…the list goes on.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
