Terry, the scenario you have outlined here is paying one loan with a second loan and paying the interest on the second loan with cash. There is no point!

You are incurring additional interest to pay interest in order to benefit from increasing deductions. Disregarding Hart’s case, the ATO has provided advice regarding setting up a structure with…[Read more]

brahms, I am asking if ‘YOU’ would lend.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

ANZ do not give ratings to companies. A small and relatively new company is only as strong as the Directors behind it. You need at least two years full company tax returns showing healthy profits to be able to borrow solely on the company figures.

I am not arguing with you. I am just trying to set you straight as to why you are being declined or…[Read more]

Greg, that is a really good idea!!! I suppose this should also extend to mortgage brokers as well. The lenders are against it because one of the ways they attract new business is by paying mortgage brokers more. For obvious reasons, mortgage brokers are also against it.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

gf,

You are new to this forum and you are definately picking the wrong person to pick a fight with so I will give you the benefit of the doubt. I suggest you take a breath and relax before posting absolute crap directed at me that is without merit.

I do not give any legal advice or any other kind of advice for that matter. The information in…[Read more]

gf, I don’t think you realise that it takes more than 18 months to demonstrate to anyone considering lending you any unsecured funds that you are eligible after just recently coming out of bankruptcy.

Most first tier lenders will not lend to anyone who has been bankrupt in the last seven years and sometimes will not lend to them if they have ever…[Read more]

Thank you. The R threw me off.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

What does CRIN stand for???????

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

There is always a place for those using other people’s money or 100% finance. I would personally be totally satisfied helping my kids get a start in life by helping them with a deposit and costs of purchasing their own home and seeing them make the repayments themselves. After all, why watch them pay rent instead?

I hear where you are coming from…[Read more]

Marketing is marketing. It will always be there.

Regarding borrowing, there is ‘smart’ debt and there is ‘bad’ debt. There is nothing wrong with borrowing to the maximum for ‘smart’ debt in my opinion.

Using equity is just one tool that enables those seeking further investment to achieve their goal sooner.

Robert Bou-Hamdan
Mortgage…[Read more]

Banks are now required to take LMI on any Low Doc over 60% LVR. You can find many non-bank lenders who do not charge LMI. Some of them have unusual maximum LVRs like 76% before they charge you LMI. I believe a few even go to 90% LVR with no LMI but you pay for it interest. Personally, I would prefer to pay the one-off LMI charge than get ripped…[Read more]

To the contrary, posting links does not annoy me at all. Posting the same negative rubbish over and over and starting similar threads over and over to support your cause is what annoys me.

Anyway, just so you know, I have decided to stay out of this economic debate. It has been done to death and seems to just move in circles. I will leave it to…[Read more]

I am confused. You say “We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required” but you are having touble with valuations and finance.

A property is only as valuable as what the next person is willing to pay. Excluding ‘advantageous purchases’, the price you negotiate for a property is pretty…[Read more]

No deposit or other upfront funds would be required if you use your existing equity.

As for repayments…

$440,000 existing loan = about $2,845 per month P&I
$250,000 new loan = about $1,617 per month P&I
$250,000 new loan = about $1,400 per month Interest Only

Assuming a low rental return of $150 per week ($650 per month) which does not allow…[Read more]

I should clarify that capitalising interest to pay off non-deductible debt is not illegal in itself. Trying to deduct the capitalised portion is.

http://www.smh.com.au/articles/2004/05/28/1085641713197.html?from=storylhs&oneclick=true

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I have you down for around the $200,000 mark without additional rental income assuming no credit card, a worst case scenario with high living expenses and not allowing for the tax break coming very soon.

This goes up to around the $250,000 assuming only a minimal rental income of $150 per week from purchasing an investment property.

Robert…[Read more]

Michael, I think that comes down to extreme censorship and strict moderation. Somsersoft is reknown for it!

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Originally posted by Terryw:
A person has a home with a loan and a bit of equity.
They also own an investment property with an IO loan.
They set up a LOC securred on either property.

You know I am not a fan of using a LOC unless operating and using it for a cash flow business.

They then use the LOC to pay for all investment property related…[Read more]

Great idea… see you there!

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

They also tend to lean towards Listed Property Trusts etc. where they get a commission instead of buying actual property where they don’t as jewel outlined.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links