Steve, I am just wondering where the $172,500 purchase price comes from and why would you subtract the FHOG from the purchase price you used?

Robert Bou-Hamdan
Mortgage Adviser

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

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That’s right. They will only give great deals for high net-worth clients or great payers. They may also do these to attract new money. Pretty much, deals are the same for anyone.

Robert Bou-Hamdan
Mortgage Adviser

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

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Hey Pelican,

I should qualify the UCCC comments by saying that the legislation does not specifically apply to investment property although the lenders tend to follow these requirements for all residential security whether investment or owner occupier. There is a little lee-way but I just can’t see any bank agreeing to this due to the potential…[Read more]

Heaps of investors do this if the numbers stack up. It is all about the numbers to most but you lose the benefit of living in your own home as well.

Good luck.

Robert Bou-Hamdan
Mortgage Adviser

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

FREE Finance-Related Newsletter: See -…[Read more]

Only the new funds required will be on a slightly higher rate. The existing money can stay where it is with some of the newer bridging loans in the market.

What I am trying to get at is that there are a heap of options available to you and you need to do the numbers on all of them to see which is most suitable for you.

Robert Bou-Hamdan
Mortgage…[Read more]

They are the sort of stories I like to hear Derek. I am glad you have obtained a better deal!

Some people also think they will be up for Mortgage Stamp Duty. This only applies to any up-stamped (increased) amount.

Robert Bou-Hamdan
Mortgage Adviser

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

FREE…[Read more]

Duritz, another way to secure property with $1,000 cash or less is by using deposit bonds which might cost you even less. It is not a difficult task.

Robert Bou-Hamdan
Mortgage Adviser

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

FREE Finance-Related Newsletter: See -…[Read more]

Is this a loaded question or what?

Robert Bou-Hamdan
Mortgage Adviser

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

FREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm

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

There has to be somewhere people can go for correct advice. Surely there is a Government website that explains all this instead of palming everyone off onto “professionals” (and I use the term loosely) who seem to get it wrong A LOT!

Robert Bou-Hamdan
Mortgage Adviser

M: 0414 347 771
E: robert@mortgagepackaging.com.au
W:…[Read more]

This is the news I also heard about CGT exemption. You were also lucky with the First Home Owners Grant as they also require six months now for eligibility.

Robert Bou-Hamdan
Mortgage Adviser

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

FREE Finance-Related Newsletter: See -…[Read more]

You would probably make more out of an ING, BankWest or Citibank account than a listed property trust.

Robert Bou-Hamdan
Mortgage Adviser

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

FREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm

Comments made are of a…[Read more]

Originally posted by terryw:
Excel the XP version has a loan amortisation spreadsheet included for free. Just set up two of these, one for your loan to the bank and one for the ‘tenant’s’ loan to you. Then at any given time you can see their payout figure and your payout figure and hence, you will know how much cash you will receive on…[Read more]

I have not read the whole thread but thought I would post my views on Tassie anyway.

I cannot bring myself to invest in Tassie any way I look at it. Economic growth is non-existent and population growth is not sustainable. The majority of people moving to Tassie are retirees. When they realise it is cold, it will be bye-bye Tassie and Hello…[Read more]

It would have to be positive cashflow or they could not make repayments. Unemployed means NO INCOME. There is no choice.

Robert Bou-Hamdan
Mortgage Adviser

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

FREE Finance-Related Newsletter: See -…[Read more]

Shackles,

Don’t sweat it. Some people know exactly what to do but rush in and do stupid things. I hold a Masters Degree in Stupidity!!!! Hardly any professionals I know (besides Steve and Dave) actually practice what they preach all the time.

It is all a learning experience and as long as you learn something you have succeeded as far as I am…[Read more]

Regarding lending for different investment types, if you are using the equity you already have, it is not an issue. You can invest in whatever you like.

If you are talking about the 80% you would borrow on the new property, well this would be part of the opportunity cost calculation because you might not be able to get the same amount of money or…[Read more]

Female, school is not the only education a person needs. You can fully educate yourself now about your chosen area – in this case, PROPERTY INVESTING. As everyone always says, keep reading and reading and reading. Before you know it, you will have the knowledge and will be looking for the experience.

Low Doc does not need tax returns. They just…[Read more]

I understand not wanting to burn bridges or ruining relationships but it is the only way I see them being accepted as fully disclosed. You have built the bridges and created those relationships but I would guess that your first, second and maybe even fifth wrap deal was not fully disclosed. You are now considered professional so it is a different…[Read more]

Duritz, where do you go to buy them???

Robert Bou-Hamdan
Mortgage Adviser

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

FREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm

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

That is right Monopoly. It is about manipulating a basic formula to determine different results. If the results look good, you proceed and vice versa.

Steve really needs to explain this one as it gets a bit tricky.

Robert Bou-Hamdan
Mortgage Adviser

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

FREE…[Read more]