Thanks all for your feedback.

Thanks Colin, I have just sent you a private message regarding my current situation.

Hi Colin,

The net surplus should also minus the existing loan repayments right? Secondly, are you saying that with AMP, they will add a 3% buffer to the current variable rate to calculate serviceability? Cheers John

I just have done some quick calculation, my rental income constitutes about 35% of total income but AMP, through my mortgage broker, is saying that I have serviceability issue, which i don’t understand. In total, my IPs are yielding at average 7.5% gross and they are located in metropolitan/regional cities and none of them are in mining towns.…[Read more]

Thanks all for your help. In a nutshell, I should be speaking with more mortgage brokers but from reading the post, it seems NAB and Macquarie might be my better options at this stage. Cheers John

This might sound like a silly question but what is a DUA and how does it apply to me? Thanks

Thanks for the feedback. I have a couple of follow up questions:
1) RMB income – I remember speaking with a mortgage broker in mid-2013 and told them that my income is denominated in RMB and their reply was that no bank will accept RMB salary. Hence, I didn’t bother to explore other lenders cos I thought RMB denominated income is not welcome by…[Read more]

Hi Shahin, I am currently working for a logistic developer in China and the company is listed in Singaporean Exchange. My salary is denominated in RMB. The issue i have with Westpac and other lenders is that they completely disregard my overseas salary cos they don’t take into consideration RMB denominated income, which absolutely kills my…[Read more]

Just one more point to add, current lender is AMP for my 5 IPs. Thanks

Can somebody show me how do I upload the photos of my roofing problem into this message so that I can get some help? Thanks

Thanks both for your comments but I am based in China and given I don't know much tradesman in Oz. I ain't sure I am getting the most competitive quote from my property manager but would like a second/third opinion. Would anybody recommend a website or somebody who I can contact to inspect the roof? Really appreciate the feedback. Best to PM me.…[Read more]

Hi Sean,

I am also in the same boat as you where I am currently residing and working in China. Given that I am not physically in China and that I lack development experience, I chose the investment strategy of buying Cashflow +ve properties via Rent-To-Own ("RTO") and Vendor finance schemes. At the moment, I have a business partner in Australia…[Read more]

Hi Ken,

Just a couple of questions:
1) Are you living in this property? 
2) would you be able to get offload 100% share  and then lease back on rent-to-own scheme for 2 years so that you can get your house back at an agreed price after 2 years?

Cheers
John

Hi Jamie,

Thanks for your response.

Hi Jamie,

Does your client in Afghanistan earns AUD or USD, that would makes it very easy for ANZ because they are comfortable with the currency, however, the issue i think is that most Australian lenders are not comfortable with Chinese currency. That's my feeling.

2) I have been chasing for what's causing the delays in AMP but no replies yet…[Read more]

Hi Jamie,

Does your client in Afghanistan earns AUD or USD, that would makes it very easy for ANZ because they are comfortable with the currency, however, the issue i think is that most Australian lenders are not comfortable with Chinese currency. That's my feeling.

2) I have been chasing for what's causing the delays in AMP but no replies yet…[Read more]

Hi Paul and all,

Thanks for guidance. Can you please PM me and we can have a discussions offline.

Cheers
John

Hi all,

Thanks for all your feedback. Re the deal structure, I am happy to pay the full asking price but the vendor needs to provide 20% deposit finance for at least 18 months and then allow me to on sell it on instalment contracts. If anybody can help with my situation or willing to JV with me, please let me know. Appreciate your help in…[Read more]