Total Members: 158,200

Kipper57

  • Kipper57 replied to the topic Propertyinvesting.com products….where to start? in the forum Help Needed! 16 years, 6 months ago

    Hi Bronte have you thought of visiting the local library or two you may find some good books there that will not cost you

  • Kipper57 replied to the topic buying backyards in the forum Creative Investing 16 years, 7 months ago

    Who would get stuck with paying for the subdivision as i am sure they are not going to agree having your house on their title

  • Kipper57 replied to the topic Deposit for Exchange of contracts in the forum You may be able to get the 16 years, 7 months ago

    You may be able to get the seller to accept a Deposit Guarantee for a small outlay then you do not have to come up with the cash.  Eg for 10k deposit it would cost around the $120 for upto six months guarantee

  • Kipper57 replied to the topic Choosing finance company- Fixed rate at 7.33% in the forum Finance 16 years, 7 months ago

    Be aware sometimes the rates maybe cheaper but there can be other hidden fees i am not familiar with those lenders you mentioned so not commenting on them in particluar.  Further the rate is often not the most important feature to a loan, sometimes can save more by having the correct structure.  Eg if they have an offset account attached which t…[Read more]

  • Kipper57 replied to the topic Loan Declined – What do people do? in the forum Finance 16 years, 7 months ago

    Hi Nigel348That is where a broker can come in handy, just because one lender knocks you back it does not necessarily mean the others will.  Providing the full circumstances a broker may know which lender may take it on.  I would be happy to help or any of the other brokers here feel free to contact us

  • Kipper57 replied to the topic Property Investment Groups??????? in the forum General Property 16 years, 7 months ago

    It sounds a bit like the investors club, there are quite a few posts in here on them.  If you do your own due diligence you will save but if you cant be bothered then i guess you pay for it

  • Kipper57 replied to the topic I need help to get off to a good start!! in the forum Help Needed! 16 years, 7 months ago

    Hi Cameron yes you could have done a split on the Owner occupied (thus keeping the finances seperate for accounting purposes) and raised the deposit by way of increase to save on the mortgage insurance. 

  • Kipper57 replied to the topic turning PPoR into IP in the forum Help Needed! 16 years, 7 months ago

    Yes as long as what has been drawn down has not been for personal use, living expenses i would say would come into that teritory, you can always ring the tax office and make an anonymous call or speak with an accountant to be certain

  • Kipper57 replied to the topic revoking finance? in the forum Finance 16 years, 7 months ago

    Success regardless

  • Kipper57 replied to the topic Capitalising Interest ? in the forum Finance 16 years, 7 months ago

    I would think Terry's idea would only work if you had the equity to borrow more than the probperty being purchased is worth however you have stated you are already negatively geared to the "eye balls" which may suggest there is not much equity available either??

  • Kipper57 replied to the topic Help Lenders Mortgage Insurance in the forum Help Needed! 16 years, 7 months ago

    I am surprised your M.B. did not at least provide you with an estimate prior to the application but agree with Richard re the Rams LMI

  • Kipper57 replied to the topic 100% offset for investment in the forum Finance 16 years, 7 months ago

    I agree with Simon, if you have a loan on an owner occupied then this is the loan you should have the offset on but if you do not then you have it correct

  • Kipper57 replied to the topic First Home Buyers Grant in the forum I have included the state 16 years, 7 months ago

    I have included the state revenue for each state on this site, for any further info of the home owners grant it is easily found there.  http://www.alphamortgagesolutions.com.au/Tools.htm

  • Kipper57 replied to the topic Margaret Lomas / Destiny Solutions in the forum Finance 16 years, 8 months ago

    I agree with Richard Cross collateralising can be ok for 1 or 2 properties however if you want to grow your portfolio at some stage you will need to bring in other lenders and this can be an expensive exercise if the have been crossed.  Keeping them as individual properties from the start is the better way.

  • Kipper57 replied to the topic Vendor needs to sell – what do I do? in the forum There are very few 16 years, 8 months ago

    There are very few properties that are cash flow positive unless in a mining town it would pay to do your home work and see what comparitive properties have sold for in the area, as although it may not be cash flow positive it may still be a good buy.  Then you would have to work out whether you are prepared to foot the difference, it would…[Read more]

  • Why not speak to some of the property manager in the area they should be able to give you an idea of rental prospects, contact the local council for information of incomming infrastructure etc, there are some useful sites on our useful sites page see below

  • Kipper57 replied to the topic Thoughts on this deal in the forum It seems as though you have 16 years, 9 months ago

    It seems as though you have already done the sums, no one can say if interest rates will go up or not so if you were concerned you could fix or do a split part fixed part variable.  Further to know if the rent would is stable it may pay to a property manager in the area

  • Kipper57 replied to the topic marginal lending loan advice in the forum I suggest you speak with 16 years, 9 months ago

    I suggest you speak with your accountant however I would assume your marginal loan is tax effective where as your PPR loan is not.  If this be the case it should not be too hard to work out

  • Kipper57 replied to the topic valuation too low! loan not approved – options? in the forum Help Needed! 16 years, 9 months ago

    A recent valuation shortfall recently won one of my customers a better deal by 15k as we organised another valuation that came in short too.  The client was then able to negotiate with a strong argument with the seller that it was over priced and won.  Another time the place was extremely undervalued and as we chose again to organise and i…[Read more]

  • Kipper57 replied to the topic Stamp Duty for Land in the forum Help Needed! 16 years, 9 months ago

    Hi; 95% LVR is the general rule for land however if it is regional this may be reduced somewhat depending on the post code.  On land stamp duty is charged at a higher rate as is charged as investment as you cannot live on a block of land, when you build the building will be as owner occupied and stamp duty charged accordingly, providing you…[Read more]

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Kipper57

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