[PaninaParticipant@paninaJoin Date: 2016Post Count: 8]

September 7, 2016 - 7:29 pm

Richard Taylor wrote:

@panina from the figures you emailed me i managed to get the deal to service for $260,000 so not sure who your TIC broker is looking at but seems to be a vast difference.
Cheers
Yours in Finance

Not sure i understand the broker said i can only borrow $260,000

[PaninaParticipant@paninaJoin Date: 2016Post Count: 8]

September 7, 2016 - 6:08 pm

Colin Rice wrote:

@panina any reason you cant put in a 10% deposit as opposed to an 20% deposit. Yes you will cop some LMI but you will have held back some of your capital that can be placed in a offset account for the next purchase and/or a buffer.

I would love to do that! The loan only came out at $260,000 maybe the banks are starting to hold back their lending.

[PaninaParticipant@paninaJoin Date: 2016Post Count: 8]

September 7, 2016 - 12:47 pm

Thanks i don’t think i can justify putting so much into this apartment

[PaninaParticipant@paninaJoin Date: 2016Post Count: 8]

September 5, 2016 - 7:18 pm

Thanks alot ill email you both soon

[PaninaParticipant@paninaJoin Date: 2016Post Count: 8]

September 5, 2016 - 3:12 pm

Hiya no furniture in the house someone is already in there.
I was thinking that buying a established unit and furnishing ive seen units 100 meters away $100,000 less i travelled to the gold coast and viewed the properties but I’m told buy new buy new buy new!
I think the best option is buy my own home like corey said considering rates are so low.
Can i email one of you guys and give a run down on my situation?

[PaninaParticipant@paninaJoin Date: 2016Post Count: 8]

September 4, 2016 - 11:43 pm

Hi i was told because I’m not earning enough through work so i cant borrow as much and the banks are also cutting back on lending.
I spoke to the mortgage broker today it’s actually $90,000 now not the $100,000.
The loans are not xcolled this mortgage is with a new bank.
I’m not happy with the huge deposit the 90,000 is everything including government charges.
Considering not going ahead with this although i think the gold coast particularly this area will grow the next couple of years the big deposit is preventing me investing in my own home which i really want.
Really confused now i need to go speak with someone who can sit me down and run through everything cruch the numbers and get a positive outcome.

[PaninaParticipant@paninaJoin Date: 2016Post Count: 8]

September 4, 2016 - 10:08 am

Thanks for the reply yes I’m going through a mortgage broker the thing is I’ve got 3 other investment properties in other states that are affecting my cashflow but they are all postive geared.
I’m not to keen on the putiing the $100,000 into the apartment even though im told it’s like putting your money into bricks and mortar not the bank.
I thought if the valuation is correct i have to only come up with 20% deposit and can borrow 80%?