Hi GrantWelcome to the forum and I hope you enjoy your time with us.The answer is not straight forward as there are so many variables which would include is the loan to be residential / commercial, purchase or refinance, investment property or principal place, the purchase price or valuation.Other such questions i would ask you if you were a…[Read more]

Hi KimCongratulations on making a move on starting your portfolio.Couple of areas to investigate further in my opinion before proceeding further.1) Definately ask the selling agent about details of both the adminstration & sinking fund levies for the Body Corporate and also ask whether their is any intended expenditure due. If the Vendor wants to…[Read more]

PauliiSorry my friend but this is clearly not true They won't try to sell you property.I have documented evidence of deals she was trying to flog in Buffalo and NY as her office sent them to me to finance for clients of hers who were buying from them.

Hi ZacAre you looking to be the person buying the wrap or buying the property and onselling via an instalment contract.Big difference.If the later dont think you will find anyone in HB who has probably even done one but if the former then the Seller will be the one who prepares the Instalment Contract and offers this to you for your…[Read more]

Might want to do a search of this on the forum as the question has been asked many times before and answered.

Ok understood.Back to what i said earlier wont get more than 80% and will need to demonstrate an exit plan i.e sale of property etc etc

mpjtWhy not tell us what you are after and we can offer some suggestions.

Agree with Banker i cant see any reason at all unless it is a very short term and for some unbeknown reason you dont want to approach a conventional lender or you need the money this afternoon. 

Ah Terry i might be Sean Connelly and we have a Timothy Dalton in the room.By the way I dont know Mandy so anything she posts is her own opinion and nothing to do with the real Qlds007.

Hi MikeYou are able to claim the deductions on the interest and other expenses once the property is available for rent.Think you would have a tough time when you are still living in the property to argue it was available to be rented.With regards to a financier in Brissie i have 1 or 2 IP's so be happy to answer a few questions or offer up some…[Read more]

BoQ will merely open up a sub account for the LOC of 90% of the current valuation less existing loan amount.

Major meaning it cant be financed using the property as security.Sure if you owned a property and have a $100K line of credit and wanted to throw your money away then go for your life but you wont find any traditional lender finance such a security in the current climate.As tenburner mentioned run for the hills.

Lenders like Anz dont do full valuations on purchases or refinances irrespective of what they lvr is if a modelled estimate can be found or if it is a 90% purchase they take the contract of sale depending on where the purchase / security is (both in the same state fine if not likely be a kerbside valuation and asssuming a Real Estate Agent is…[Read more]

A member who arrived trying to sell his book and services and spent the 3 weeks he was here trying to argue every post Terry and I answered telling members to protect themselves. Claimed he was the Mortgage Detective but when i queries the name (as it is used by a Mortgage Broking firm in ACT) he couldnt come up with an answer. Left here arrived…[Read more]

Guys lets agree to disagree.The next thing is The Mortgage Detective will be back (think he only last 3 weeks) and we can re-open other cans of worms.

As mentioned it was a RP Data val.Many lenders / Brokers use these Modeled Estimates and the report can be done in seconds.

Maybe 80% of the valuation if they are lucky over a short term of say upto 12 months.

Wow better watch myself.Next thing i will be telling everyone how good cross collateralising is.

Think you will pushing it for a P/L at that level even secured.

Other issue would be that many lenders would not allow 2 properties on a single Title.