jcso99 started the topic 80% LTV for IPs in regional towns in New Zealand in the forum Finance 5 years, 7 months ago
Dear all,
I have been introduced to an investment opportunity in Maserton, New Zealand. The acquisition price is NZD 200,000 with an expected rental of NZD 380/week (gross yield around 9.9%). Allowing 5% vacancy and 5% property management expenses, the property will still yield 8.9%, which is still above current variable interest rate of 6.5% in…[Read more]
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
Thanks all for your feedback.
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
Thanks Colin, I have just sent you a private message regarding my current situation.
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
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
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
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]
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
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
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
This might sound like a silly question but what is a DUA and how does it apply to me? Thanks
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
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]jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
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]
jcso99 replied to the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
Just one more point to add, current lender is AMP for my 5 IPs. Thanks
jcso99 started the topic Increase borrowing capacity in the forum Finance 6 years, 8 months ago
Hi all,
I am Australian citizen who’s working in China. Currently, have 5 investment properties in metropolitan cities with good positive cashflow. All my IPs are held in discretionary trust with me as personal guarantor. Now, I have access to monies in China which would allow me to buy about 10 more properties assuming each property is asking…[Read more]
jcso99 replied to the topic Roofing problem in the forum Help Needed! 7 years, 7 months ago
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
jcso99 replied to the topic Roofing problem in the forum Help Needed! 7 years, 7 months ago
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]
jcso99 replied to the topic Confused about what to do ! in the forum Help Needed! 7 years, 12 months ago
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]
jcso99 replied to the topic Sell or take on investor in the forum Help Needed! 7 years, 12 months ago
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
Johnjcso99 replied to the topic Australian working in China needs urgent finance help! in the forum Help Needed! 8 years, 5 months ago
Hi Jamie,
Thanks for your response.
jcso99 replied to the topic Australian working in China needs urgent finance help! in the forum Help Needed! 8 years, 5 months ago
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]
jcso99 replied to the topic Australian working in China needs urgent finance help! in the forum Help Needed! 8 years, 5 months ago
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]
jcso99 replied to the topic Deposit finance deals – Are they dead??? in the forum Help Needed! 8 years, 7 months ago
Hi Paul and all,
Thanks for guidance. Can you please PM me and we can have a discussions offline.
Cheers
Johnjcso99 replied to the topic Deposit finance deals – Are they dead??? in the forum Hi all,
Thanks for all your 8 years, 7 months agoHi 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]
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