Total Members: 158,668

jxf

  • jxf replied to the topic First time developer, need assist in the forum Help Needed! 13 years, 5 months ago

    Cheers Maurice (and also glad my question the other week helped someone else! ).

  • jxf replied to the topic First time developer, need assist in the forum Help Needed! 13 years, 5 months ago

    Thanks for the explanation Alistair, I too am interested to understand the nuts & bolts of finance for development projects. Adding to the discussion already can you (and/or others) confirm if my understanding is correct (many thanks in advance).   With commercial finance through the banks there are two basic options: either borrowing up to 80%…[Read more]

  • Cheers for the clarification Terry. I have also picked up my copy of "turst magic" and am re-reading it to help me. Thanks again! 

  • jxf replied to the topic average development profits?? in the forum Value Adding 13 years, 8 months ago

    I have no development experience so others may correct me here – but I think I understand your question. After talking with some commercial lenders (just from the Big 4) they need a project to show a 15 – 20% profit margin (so profit margin = profit / (total expenses)) before they will lend to it (other factors will of course affect things but…[Read more]

  • jxf replied to the topic Overcoming Serviceability issues in the forum Finance 13 years, 8 months ago

    Do you have any credit cards, store cards, personal loans, car loans, etc that could be paid off with your $60k savings? No store cards, no personal loans, no car loans and only 1 credit card with a $1,000 limit (current balance = $0 ). I will look into a reno for one of the properties (it's an older unit and would therefore benifit as you say by…[Read more]

  • Hi Mike,Very much appreciated the prompt reply and the report. It's going to help a lot :-) May your generosity return to you two fold. Thanks again, Cheers

  • Thx guys, I never thought about putting the cash into an offset account.! thanks again. :-)

  • jxf replied to the topic Reaching Financial Freedom through IP. in the forum Thanks everyone for your 17 years, 2 months ago

    Thanks everyone for your throughts, much appreciated.. jsut one comment:
    duckster.. you said it would be hard to see how this would work since the property market is not booming, can you explain the senario how it works when the market is booming.

    cheers
    jxf

  • jxf replied to the topic Interest Only Loans in the forum Finance 17 years, 4 months ago

    Thanks Terryw and Mortgage Hunter. Your explanations have cleared things up a lot! My main hesitation with what I understood about IO loans was the idea that after the interest was paid (in a short term say 5years) you had to pay up the lump sum of the principal. Your comment that there are loans that can be interest only for a period of time…[Read more]

  • jxf replied to the topic Interest Only Loans in the forum Finance 17 years, 4 months ago

    G’day all

    I am also interested in finding out what these Interest Only loans are all about.

    Simon (Mortgage Hunter) I go back to your example of your parent’s place.
    So they paid interest only (hence their mortgage payments were smaller each month) and now they still owe the initial borrowed sum of $47,000. Will this sum then be paid out…[Read more]

jxf

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