Even if there are fees, you could pay them out of the re borrowings. If they only earn $1200-1400 per month, and are paying $850 per month in loan payments – ouch!! If the do refinance, they should try to pay more than the minimums though – especially if they want to start spending on the plastic again!!
At realestate.com you don’t have to type in a location. you do have to choose a state. You can do a search based on price ie 0-200K, and it comes up with everything (although lots of auctions as well).
Might I suggest that you post your very good suggestion as it’s own post? I did read your new topic, but I was more interested in this particular post.
Captain Picard, I am more than interested to have you be a bird dog for me. If you want to drop me a line at melbear7attpg.com.au and explain the sorts of deals you have found, we can…[Read more]
If it does check out, I would put down the cash you have so that you can keep the property as a stand alone. If you need to, or you can be doing it at the same time, refinance your PPOR/IP that has the equity so it is available to you for your next deal.
Welcome. Hula Queen is willing, but you should (hopefully) get more responses by posting in the Soap Box forum. From memory there are quite a few weird, I mean BrisVegasites who would be willing to catch up.
I am one of the don’t sell unless you have to brigade i’m afraid.
If you are thinking of landlording, try Suzi Bilosh’s Aust Landlords Handbook (or some similar name).
Most townhouses are in complexes these days, so I wouldn’t think of it as an apartment. I think that’s where the statistics go, but in my opinion they are very separate.…[Read more]
I think the biggest drawback with these is the 40% (I thought it was about 30%?) deposit. For a 7% return! You can do much better things with that whole hunk of cash than settle for 7% with the other costs that Huey has mentioned.
Careful, Paul might want you to wash out your mouth again. I think I’ll get him under control though, we might be getting married.[]
Do you want to come to the wedding? I saw you put your email on one of your posts, and I looked at your address and said ‘NO’, he can’t have a name – he’s Muppet![]
I’m sorry. I really don’t understand people saying now is not the time for +cf IPs. why the heck not? I’m surely more than happy to be making money than having to pay it out each week!!
Fair enough, at the moment be wary, and do your research so that everything stacks up, but just saying +cf is not the way to go is INSANE!
I know what you are saying. However, you would not believe the amount of due diligence we have done on this deal. I think we’ll hit about $10K in solicitor fees by the time we are done. There is a group of about 7 of us, who are looking at investing a total of $500K +. In this instance, I would suggest that there is very little risk…[Read more]
If the loan is secured against that particular property you will have to pay it off, or arrange to have the loan secured against other property.
As for your car loan, some brokers can advise if this is correct or not (tag team Simon?), but the banks will look at your payments that are to be made on your car as a bit of a negative. It may…[Read more]
As I was clicking on this link seeing you as the last poster I was thinking to myself
‘Don’t Gloat Muppet!!!'[!]
Too late. I’d love to invest in NZ, but unless you want to find the deals for me I’m better off trying to get my affairs (in all senses[]) sorted here in Aust.
202 is not out on computer yet. Hopefully they are developing it.
Yes, all you need is the board – and the rats, cheese, dice, and financial statements. The only thing you swap really are the deals, and the market cards/doodads.
I have the 202 game, but have no one to play against.[][][xx(]