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  • Profile photo of leapfrogaustralialeapfrogaustralia
    Member
    @leapfrogaustralia
    Join Date: 2005
    Post Count: 6
    October 10, 2005 - 6:20 am

    Play nice people :-)

    I don’t know about other forum members but when I think about an investor waiting for the property prices to drop to snap up a “good deal” I see a very old man with a stick.

    Profile photo of leapfrogaustralialeapfrogaustralia
    Member
    @leapfrogaustralia
    Join Date: 2005
    Post Count: 6
    October 9, 2005 - 1:12 am

    Thank you Darryl,
    I agree with what you wrote, however I’m still trying to understand why the existing equity in the trust is not enough security to purchase a new property in the same trust. As you are using a new trust for every property you must be afraid that a liability of one property in a trust can be shared over other properties in the same trust. So why should existing equity in the trust not be enough to garantee a loan?
    LFA

    Profile photo of leapfrogaustralialeapfrogaustralia
    Member
    @leapfrogaustralia
    Join Date: 2005
    Post Count: 6
    October 8, 2005 - 12:30 pm

    $175 for independent legal advice to explain the stuff (mandatory by bank) plus the 110 for a guarantee and 330 professional legal fees
    so up to 615 per purchase.

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