PropertyInvesting.com | magic32 | Activity https://www.propertyinvesting.com/members/magic32/activity/ Activity feed for magic32. Sat, 11 Apr 2026 05:33:58 +0000 https://buddypress.org/?v=2.8.1 en-US 30 hourly 2 4ca63ff2c80fa098c31602c1157e4bf1 magic32 replied to the topic Guarantor in the forum Finance https://www.propertyinvesting.com/topic/5017313-guarantor-3/#post-5017323 Mon, 07 Dec 2015 07:11:06 +0000 Thanks for the post. So is it that I need to go on title and be one of the borrowers with future borrowing capacity reduced by the full loan amount. Are there any better ways?

I’m sure I heard of husband as guarantor for wife, and parents as guarantor for their children a few years back or do lenders generally don’t allow this anymore since the…[Read more]

]]> af96d8b4dc2d61fdd503653102867c48 magic32 started the topic Guarantor in the forum Finance https://www.propertyinvesting.com/topic/5017313-guarantor-3/ Sun, 06 Dec 2015 11:46:26 +0000 Hi,

If I become a guarantor for my mother’s purchase will I be able to limit the guarantee to a certain amount. e.g. a purchase price of $1,000,000. Say she has deposit/cash of $500,000, my mother to borrow $500,000 and I be guarantor for $250,000, i.e. if I was not guarantor she could only borrow $250,000 and purchase a less desirable property…[Read more]

]]> 55c093408a86085b5dc6434378eb9f3b magic32 started the topic Unsecured Personal Loan in the forum Finance https://www.propertyinvesting.com/topic/4995568-unsecured-personal-loan/ Sun, 12 Oct 2014 09:00:25 +0000 If a single person living with parents earns $60,000 pa before tax and they didn’t have any property and no other loans/liabilities, around how much would he be able to borrow in a personal/unsecured loan from a bank/lender? e.g. in the situation of a family emergency. Thanks.

]]> 3b2118c140d216d67e528231ba647ce9 magic32 started the topic Car Allowance in the forum Finance https://www.propertyinvesting.com/topic/4992602-car-allowance/ Wed, 09 Jul 2014 08:19:47 +0000 Is car allowance usually counted towards borrowing capacity or is it just the base salary that counts?

]]> bc475a9fc4266e044944d918237540fb magic32 started the topic Reduce Credit Card Limit in the forum Finance https://www.propertyinvesting.com/topic/4992517-reduce-credit-card-limit/ Sun, 06 Jul 2014 11:31:19 +0000 If I reduce my credit card limit from $1000 to $500, around how much more borrowing capacity would I be able to get?

]]> 24097b5defe7ab6d4cf9f981b4280112 magic32 replied to the topic Loan Pre-approval in the forum Finance https://www.propertyinvesting.com/topic/4992331-loan-pre-approval/#post-4992505 Sat, 05 Jul 2014 15:06:01 +0000 Thanks for the responses.

Do you think I should get an estimate (not pre-approval) from two brokers. Because different lenders could have loans amounts which vary considerably like 50k-100k difference. I don’t feel good about this though since I can only get a loan through one of them.

]]> db33567cc39fddeae3d8e577f53f91c9 magic32 started the topic Loan Pre-approval in the forum Finance https://www.propertyinvesting.com/topic/4992331-loan-pre-approval/ Sun, 29 Jun 2014 11:26:10 +0000 Should I ask my mortgage broker for an estimate of how much I can borrow to plan things before asking for a pre-approval, or is it I should just ask for a pre-approval to get a more accurate figure?

At the pre-approval stage, when working out borrowing power, are the following taken into account: rent/yield, depreciation, tax deductable expenses,…[Read more]

]]> 845006d318a7964ef58fed68176dbd42 magic32 started the topic Which Author, Mentor, Trainer - Strategy in the forum General Property https://www.propertyinvesting.com/topic/4992248-which-author-mentor-trainer-strategy/ Thu, 26 Jun 2014 13:25:17 +0000 Which author/mentor/trainer/coach/speaker etc strategy did you follow for the main property investing strategy that you are currently using?

]]> dfcb5a29fd9091a068ede3c5d37d1dbf magic32 started the topic Fixed Interest Rate in the forum Finance https://www.propertyinvesting.com/topic/4992246-fixed-interest-rate/ Thu, 26 Jun 2014 13:14:42 +0000 Is it correct that a fixed interest rate gives more serviceability and a higher loan amount because of the lower than 2% loading of the interest rate that applies to a variable interest rate?

If so, would it be a good strategy to go fixed for one year to maximise the loan amount and then back to variable after that. Because fixed usually doesn’t…[Read more]

]]> 4a26496b4a68c40cd34815c96ff3261f magic32 started the topic Leap Frogging in the forum General Property https://www.propertyinvesting.com/topic/4992100-leap-frogging/ Sun, 22 Jun 2014 12:30:37 +0000 Rather than keeping the first IP and buying a second IP, do you think it’s better to sell the first IP, and then buy a higher value IP. e.g. first IP is $300,000 in value, if I don’t sell it, let’s say that I have the capability to buy a second IP for $300,000. But if the first IP is sold, I could buy an IP in a higher capital growth area for…[Read more]

]]> c69480caa2be28009d8d3da11c590c52 magic32 replied to the topic First Investment Property in the forum Finance https://www.propertyinvesting.com/topic/4991772-first-investment-property-14/#post-4991794 Sun, 15 Jun 2014 11:26:22 +0000 Do I need to save the whole 5% in only 3 months. It will take closer to 6 months to save 5%

]]> 5361fee3a2819540515b065b6559d754 magic32 replied to the topic First Investment Property in the forum Finance https://www.propertyinvesting.com/topic/4991772-first-investment-property-14/#post-4991781 Sun, 15 Jun 2014 09:22:48 +0000 Hi Richard, it’s actually for an investment property.

]]> 4d0b96f5b3323dc202b706199bde0596 magic32 replied to the topic At the End of Interest Only Period in the forum Finance https://www.propertyinvesting.com/topic/4991767-at-the-end-of-interest-only-period/#post-4991778 Sun, 15 Jun 2014 07:58:32 +0000 Do you find out whether a new application is required at the beginning, i.e. is it shown on the loan docs what the process is or do you find out at the end of the IO period?

In the beginning, which period is usually most commonly on offer or which period is not difficult to get approval for, would it be 5, 10 or 15 years?

What would happen if…[Read more]

]]> 8e90412846b8c4338f129faa23da9fe5 magic32 started the topic First Investment Property in the forum Finance https://www.propertyinvesting.com/topic/4991772-first-investment-property-14/ Sun, 15 Jun 2014 07:39:40 +0000 I’m looking to buy my first property, an IP as soon as possible.

Initially I was considering 95% LVR, but after reading other posts it seems there is more risk in the loan application being knocked back, so I may go 88% LVR + capitalise LMI.

I plan to buy an IP for around $330,000

So I need 12% deposit. How much genuine savings do I need to…[Read more]

]]> a68d4259e048def8920e61c6f6e23ba6 magic32 started the topic At the End of Interest Only Period in the forum Finance https://www.propertyinvesting.com/topic/4991767-at-the-end-of-interest-only-period/ Sun, 15 Jun 2014 06:56:56 +0000 What happens at the end of the 5, 10, or 15 year IO period? Say it was 5 years IO. To get another IO period would require another loan application right? So if I have lower employement income at that 5 year mark or become unemployed at that time, would it just revert to P&I without the need for a loan application? If not, I think it’s safer to go…[Read more]

]]> fe766d187fe402fb69897a484f02e48e magic32 started the topic Borrowing Capacity: Small Base Salary with Large Bonus vs Bigger Base Salary in the forum Finance https://www.propertyinvesting.com/topic/4990810-borrowing-capacity-small-base-salary-with-large-bonus-vs-bigger-base-salary/ Wed, 21 May 2014 06:22:05 +0000 Hi,

I’m looking for a new job, and then will buy my first property – for investment.
If the job has a base salary of $40,000 p.a. with commission/bonus which can result in an annual income which can be as high as $150,000 p.a.. Is that better than a job that is $50,000 p.a. with no commission/bonus. Which one has more borrowing capacity? i.e. do…[Read more]

]]> 9bed7f44ee953890c2a86d2971a2328d magic32 replied to the topic Minimise CGT on commercial property in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4408307-minimise-cgt-on-commercial-property/#post-4682820 Fri, 21 Dec 2012 02:37:17 +0000 It's just a straight rental.

]]> fbacc5f830dd915615769f993f49d63c magic32 replied to the topic Closing Savings Account in the forum Hi,Thanks for the input https://www.propertyinvesting.com/topic/4398235-closing-savings-account/#post-4613917 Wed, 13 Jan 2010 12:10:20 +0000 Hi,Thanks for the input guys.Just to clarify, the account is a savings/everyday transaction account for things such as wages and day to day expenses and atm withdrawals , not linked to any loan. And as I already have this type of account with another bank.E.g. if I were to apply for a home loan for property investing in the future with SGB, CBA,…[Read more]

]]> 3ceededfba50c5ecbcdbb810ebcb3538 magic32 replied to the topic Researching loan options - advice needed. in the forum Finance https://www.propertyinvesting.com/topic/4396518-researching-loan-options-advice-needed/#post-4605466 Mon, 22 Jun 2009 14:51:30 +0000 Qlds007 wrote:
Yes there are a couple but unfortunately they will not lend to UT or HDT's even on full doc.More and more lenders are shying away from such structures so tread carefully.Have had many people appraoch me over the last 12 months wanting to refinance out of their current lender but because of the nature of the entity under which the…[Read more]

]]> f24146ff0b196469189bab0c36da8fb1 magic32 replied to the topic Guarantor and FHOG in the forum Finance https://www.propertyinvesting.com/topic/4394458-guarantor-and-fhog/#post-4594337 Thu, 16 Oct 2008 14:51:23 +0000 Would it be possible to get closer to 80% LVR on the basis of the guarantor alone, or is it generally limited to 20%?Also, if the guarantor guarantees a loan, and next time they wish to borrow for another property, is the repayments (20% or 100%???) of this property part of the calculation for their cash flow/liabilities when applying for another…[Read more]

]]> 6a1b442db554c728a05c2f3d1d9f15d1 magic32 replied to the topic Entity structure in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4394463-entity-structure/#post-4594347 Thu, 16 Oct 2008 14:20:46 +0000 So for the guarantor to have no assets in his own name would mean that he would need to show serviceability from employment income? What if the guarantor was a bit more wealthy and no longer had to work, and his income is from his shareholding in a business, and that would not be good for asset protection, what would be a good arrangement /…[Read more]

]]> 2cd0ea2890108102e78160d3795e04ab magic32 replied to the topic Good Depreciation Schedule in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4393572-good-depreciation-schedule/#post-4589453 Mon, 28 Jul 2008 06:24:26 +0000 Thanks for your replies everyone.

]]> cc4107fad6e353f461cbb4f35a58c91e magic32 replied to the topic Good Depreciation Schedule in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4393572-good-depreciation-schedule/#post-4589445 Wed, 25 Jun 2008 08:33:14 +0000 Also forgot to mention that the purchase price for my properties were around $150,000

]]> cf2c93c129f37b8e97bd9bc318f9d14e magic32 replied to the topic Depreciation on old 2 bedroom apartment in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4393518-depreciation-on-old-2-bedroom-apartment/#post-4589093 Wed, 25 Jun 2008 08:10:33 +0000 Let us know how you went with it, my situation is very similar to yours, and I'm getting a QS soon too. How much did you claim? Although my unit cost $150,000; so maybe different from yours.

]]> 072186e91c0380b6b635c7828152e287 magic32 replied to the topic Claiming depreciation in the forum Help Needed! https://www.propertyinvesting.com/topic/4393554-claiming-depreciation-4/#post-4589334 Wed, 25 Jun 2008 08:06:44 +0000 My understanding is that the reno can be depreciated by your accountant based on cost of the renos, but the rest of the property you will need as QS.

]]> 88487de6effe16afc2f9dd98d2cd7a00 magic32 replied to the topic The basics of changing from PPoR to investment in the forum General Property https://www.propertyinvesting.com/topic/4393563-the-basics-of-changing-from-ppor-to-investment/#post-4589397 Wed, 25 Jun 2008 08:04:21 +0000 I think it would be better to pay off your loans first and not your HECS with your excess cash because the HECS interest rate is the inflation rate, which is less interest rate than your loans.

]]> b7e2893916c246e53d2a58022fa06a07 magic32 replied to the topic Good Depreciation Schedule in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4393572-good-depreciation-schedule/#post-4589443 Wed, 25 Jun 2008 07:08:35 +0000 Hi,Thanks for the replies.My units were built in the 1970s  (so before 1985).I have spoken to some of them. Some have said that it is still worth doing the depreciation schedule for the old fixtures and fittings, and will ensure that the amount claimed will be more than the cost of the report. Others have said that it is not worth it, the units…[Read more]

]]> 55bf040f7a211703094382aa398e8d65 magic32 replied to the topic Land Trust & Public Records in the forum Legal & Accounting https://www.propertyinvesting.com/topic/4390374-land-trust-public-records/#post-4571630 Sat, 11 Aug 2007 00:06:23 +0000 With the name of the trustee on title, how do you or the ATO know that it's not the trustee person or the trustee company who personally bought the property, but actually the trust that bought it?Say the trustee was Steve Jones, what would appear on the contract and title?Is it Steve Jones, or Steve Jones trustee for Trust Name?Do trusts have…[Read more]

]]> 998b142101e34b7f16e28f84f00f460b magic32 replied to the topic First Home Grant in the forum No Subject https://www.propertyinvesting.com/topic/4388000-first-home-grant/#post-4560284 Sat, 13 Jan 2007 15:02:57 +0000 But I only earn about 15,000 income a year at the moment. According to an online mortgage calculator, I’ll need about 40,000 income to be able to get a 240,000 loan for 80% loan for 300,000 property. So I am still far from that. or is it less with a low doc / no doc.

]]> f988946bbf4b75c2467880082de14b38 magic32 replied to the topic First Home Grant in the forum General Property https://www.propertyinvesting.com/topic/4388000-first-home-grant/#post-4560282 Sat, 13 Jan 2007 07:58:45 +0000 Currently I don’t have enough deposit nor borrowing capacity since I am working part time.

My parents can take some equity out of their existing property/redraw from their loan to help me make up the rest of the 20%. And they simply just draw a cheque and pay for it on settlement, or do they need to put that money into my savings account first,…[Read more]

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