Buying sight unseen is a personal preference. If you are happy with the numbers and feel confident with your propery inspection and legal team, then there is no reason why you wouldn’t buy sight unseen.

Buying sight unseen is very common especially with off-the-plan sales. These types of property purchases usually have ‘subject-to final…[Read more]

While you are calling the lenders, why not call your phone company for a present and your electricity provider for another one? Maybe your health or life insurer might kick in as well. All I got was some crappy computer generated 10cent Christmas Cards from them.

Robert Bou-Hamdan
Mortgage Adviser

0414 347…[Read more]

That Rick Otton bloke is a bit of a weasel. I just read an interview done with A Current Affair posted on his website at http://www.financewraps.asn.au/media_releases.php?PHPSESSID=98ef5f8fa095eec3847ad2bc9bad2ea9

I can’t believe how he put Steve in it by associating himself with Steve to try and take some heat off. It is interesting how he…[Read more]

If there is not enough equity in the first property, you would need another 20% and costs to avoid mortgage insurance. I would assume you would not have any equity available if you just started the first property loan.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE…[Read more]

Well-balanced Allan?

Whatever do you mean?

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

I was tipping the USA myself brahms because of the ‘feet’ measurements.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

That is incorrect brahms. You can get the FHOG on a wrap and title is not passed. I will check on Wednesday unless someone tells me prior who knows for certain.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general…[Read more]

You present it as purchase price plus whatever your margin is as a percentage. Eg: 220k + 10%

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 M…[Read more]

Pre-approving a wrappee is something for yourself to sort out. Some of the experienced wrappers on this site tell of how they advertise for wrap clients in areas they identify that they want to purchase property in. The wrap clients then find their own property and then you buy it and sign them up for a wrap. This sounds like a feasible way to…[Read more]

You can do what you like if it is accepted by the vendor. I personally would laugh at you if you made an offer to me like that. I call that a ‘Clayton’s’ Offer – the offer you have when you don’t have an offer.

It is a tactic to get the seller to become the one making the offer and shifts the power of acceptance to the buyer.

Robert…[Read more]

Unless you have an investment property or a business, I can’t see how you are doing it legally. If so, I am going to back-date my returns to include my school education, uni. and other courses, seminars, etc I attended out of interest when I had a job.

Robert Bou-Hamdan
Mortgage Adviser

0414 347…[Read more]

Actually, it is NOT guaranteed to be negative geared. You need to be geared in the first place at a level that results in negative returns on a property to have negative gearing.

What I am saying here is that if you paid cash for the property, you would be positively geared assuming your running costs are less than 5% per annum. If you borrowed…[Read more]

A bond is not a legal requirement. It is just necessary to register it if you do ask for and take one.

I would like to know if the first home buyer can get the First Home Owner Grant on a Lease Option.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – C…[Read more]

I am impressed that all that information is included in the wrap contract. I was not aware that you could contract to remove a caveat that has not even been established yet. I think I definately need to use your solicitor.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE…[Read more]

Strata adds value as it allows the sale of smaller portions of the property which means there is a larger market. Larger markets mean more demand. More demand means bigger prices.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments…[Read more]

Steph,

It is definately a hard one to sort out. I hope someone comes up with the RIGHT solution.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2…[Read more]

You could not be further off the mark.

<edited>.

Robert Bou-Hamdan
Mortgage Adviser

0414 347 771
robert@mortgagepackaging.com.au
http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd

The RAMS 6.99% loan is a LOW DOC, not a NO DOC.

I have to ask, why would you want to fully disclose a wrap anyway? The wrap is something that is done AFTER settlement so it is none of the lender’s business.

What is a JV wrapper?

There are a few lenders who will do a fully disclosed wrap but their response is “we don’t care what the borrower…[Read more]

Various issues arise with these types of investments. A few of them include:
Lenders are not keen on hotel / motel conversions and will either not lend on them or lend very little against the purchase price. There are some exceptions. You WILL face problems trying to finance and / or refinance them.The size of the units are often well below…[Read more]

I am not experienced with lease options on residential property but I am experienced with options contract. It is normal practice to pay a premium (fee) to purchase the option contract that give rise to buying the item for a set price within a set time some time in the future.

The bond would relate to the lease and the ‘option premium’ would…[Read more]