Hi Sundipb

If you are convinced the property will not be rented out in the future then sure go for your life and pay the additional 35K into the principle and carry on paying the loan down.

As far as the amount of loan you can claim as Tax deductible interest this will be the $132K which will reduce with each principal repayment so based on this…[Read more]

I have a few clients who purchased in NQ thru a so called BA guru where the BC fees are the same as they are getting each year in rent.

Then then have the Council Rates and of course interest on the loan.

Complex is lovely and has a pool but of course as you can live in the place the tenants and holiday makers are enjoying it at your…[Read more]

If the loan term is the same and not being extended then there should be no additional LMI.

Get your NAB Banker to give you a written explanation before proceeding.

Cheers

Yours in Finance

Agree won’t get 6 done unless you can service the total loan without having to rely on rent.

BoQ won’t touch it unless you have a very strong asset position. Local managers have no credit discretion and HQ are very picky.

Westpac certainly won’t do it on a conventional basis.

Bank West are ok but as Sharin said rate is neither here not there…[Read more]

Are you sure you want to reduce LMI as it is a deductible expense.

Personally I would increase the loan amount and use the additional funds to either invest again it or cover a basic internal Reno. There is one lender that provides additional funds at settlement which can be used for renovation or even for deposit on your next IP.

As for whether…[Read more]

Sorry why can’t you blame Paul.

His mantle was to promote H & L packages in high risk mining towns which can only end badly.

I doubt you will ever hear from him again and he has probably moved on.

Cheers

Yours in Finance

Sorry why can’t you blame Paul.

His mantle was to promote H & L packages in high risk mining towns which can only end badly.

I doubt you will ever hear from him again and he has probably moved on.

Cheers

Yours in Finance

Maximum loan would be 60-65% lvr of net GR value.

You won’t get anything like sub 6% unless you are in a very good financial position and can support the peak loan repayments without needing to take potential rental income into consideration.

Even then you would need 2 Years Tax Returns.

If you have these and you can do 80% of net GST then…[Read more]

Email me the concept Ripa and i can let you know whether i would be interested in a meet / chat.

Cheers

Yours in Finance

Hi Ripa

Yes I am sceptical.

As someone who owns a multi million dollar portfolio here in Brisbane and had purchased over 240 homes in Qld over the last 18 years i have seen a lot of scams and shams.

After 13 years of being involved with the forum and helping 100’s of forum members I am always suspicious when a newby pops up and starts offering…[Read more]

Don’t want to disagree for disagreeing sake with Kylie but NOT all Brisbane properties have gained capital.

Certainly we have seen some good growth in a number of suburbs but we spend hours each week analyising deals where clients have rushed in on the advice of so called experts only to find they would have considerably overpaid for the property…[Read more]

Hi Ripa

How can this give an investor a distinct advantedge in the market if the price of the land and building is overpriced in the first place.

Cheers

Yours in Finance

A couple of well place advertisements in the Property Investment section of the Courier Mail.

Followed by Open for inspection for a 3 hours time slot.

I have 2 other blocks and will do the same with these.

Cheers

Yours in Finance

Hi Maddy

Welcome to the forum and I hope you enjoy your time with us.

Just be careful if your not sure what you are doing don’t rush in.

The Hunter Valley is an excellent place to invest but as Corey mentioned ensure you assemble your team upfront.

In the 13 years I have been involved with the forum I would say the biggest mistake I see from…[Read more]

Hi Bla

Jacqui (JacM) is my partner and runs the property sourcing side of our business.

She is based in Melbourne and whilst i look after the financing and loan structuring for clients she owns more than a dozen properties personally so knows more than most Brokers about lending etc.

Cheers

Yours in Finance

Ramki I sold one my blocks of 18 which settled 2 weeks ago.

I sold it myself. 2 open inspections with access to one of the 2 bedders and 1 of the 1 bedders.

Them closed Tender with no finance or B & P conditions accepted – 90 day settlement.

Had 2 buyers both fairly close in price but one offered 200k deposit released to me the Seller from day…[Read more]

Wouldn’t be buying in Morayfield in a month of Sundays.

Depending on your budget i can think of a 101 areas i would invest in Brisbane even if means buying a Unit in a inner city suburb.

Whilst most of my properties are in Brissie we are starting to buy interstate in larger regional towns as certainly seeing opportunity.

Cheers

Yours in Finance

Stevie 90% lvr less LMI is doable for an Australian Citizen who is working and living abroad so that issue can be overcome.

Must admit your question has confused me but in essence the equity loan would approved and funds available to drawn when you needed them.

You would probably draw down the deposit and initial costs upfront and the balance on…[Read more]

We have just received a valuation back for a forum member who was going thru MA. It came in 65k under the purchase price.

I think that tells you the sort if stock they sell….. Overpriced.

Cheers

Yours in Finance

Block of units.

Cheers

Yours in Finance