And STOP picking on me for airing my views!!!!

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[withstupid]
The forumite formally known as Big Rob

That is what I am talking about Sonja!!!

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[withstupid]
The forumite formally known as Big Rob

Where is the summary?

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[withstupid]
The forumite formally known as Big Rob

I consult professionals such as solicitors and accountants and financial planners when I need their advice.

If I want a property, I go to real estate agents. I certainly don’t depend on people who call themselves “bird dogs” unless they hold a qualification to do what they do.

I also do a LOT of research and learn things I am interested in or…[Read more]

Henry, my post did not call it a pyramid scheme. When I initially looked at the funding model, which I did not understand at the time, I said it looked LIKE a complicated pyramid structure.

Further investigation and discussion with the people at Derivex and IFHL addressed many of my concerns and I tried to relay the message. If this was a…[Read more]

It is easy to get a loan for this property if it is zoned residential and the town has 10,000 people. No mortgage insurance will apply if you have a substantial deposit. I would still like to know how much deposit you have before I can tell you which product is available.

I did a low doc, rural zoning, 48 acre property recently and that went…[Read more]

Brahms,

You sound a bit upset… Take it easy mate!

Do you know what the result of the AFR and MIAA stories today?

IFHL was inundated with applications from brokers to become accredited. Any publicity is good publicity and bad publicity is FREE!!!

What have I implied that you made…[Read more]

Mortgage insurance may be unavoidable but early repayment fees can certainly be avoided.

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[withstupid]
The forumite formally known as Big Rob

Brahms, I am also an MIAA member. I also regularly attend the NSW Originators Committee meetings so I think I know what MIAA stands for. I have also argued the lack of broker representation in the MIAA for some time now. I have also asked for comment by Phil Naylor who responded.

What do these comments by the MIAA tell you Brahms? They tell me…[Read more]

Simon, do you have to tell all my secrets?

Scremin, I don’t thing marriage is just a bit of paper. I am just questioning why a bit of paper is needed to get married.

I can not make myself any clearer than this.

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[withstupid]
The forumite formally known as Big Rob

Thanks brahms. I am glad I keep you laughing.

Anyway, back to the question…

Do YOU have access to interest free home loans to provide your clients with a balanced view on what is available?

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[withstupid]
The forumite formally known as Big Rob

Originally posted by Bradles C:
Say if I buy 4 properties and use $25k deposit for each and take out the $300,000 loan. This will leave me with $75k for each property and will equal a total of $100k per property (75k loan + 25k deposit). LVR will also be less than 80% so I won’t need mortgage insurance.

You also need to make allowance for…[Read more]

Brahms,

I consider myself a ‘real’ mortgage broker!

My traditional role was to source the best loan for a client. My future role as an ‘Agent’ will be to sell the BEST loan to a client.

Nothing beats an interest free home loan in the market and, once the teething problems are all sorted out and the company is established, I believe mortgage…[Read more]

I am not an Agent as yet as I have not completed the agreement. This should be finished this week. Send Simon an email and I am sure he can forward the checklist. I don’t think I am allowed without the signed agreement.

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[withstupid]
The forumite formally known as Big Rob

Exactly the same as what would happen with a standard lender – You sell and they are paid out on settlement.

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[withstupid]
The forumite formally known as Big Rob

What a great idea!!! I have never thought of doing that. I would imagine there would be a lot of issues with it though. Who pays for materials, etc.

I would like to hear if anyone has done this successfully.

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[withstupid]
The forumite formally known as Big Rob

Try Google or Yahoo and search for “Venture Capital”. There are plenty!

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[withstupid]
The forumite formally known as Big Rob

Rick, it is easy to get finance on these deals through standard lending when you know where to go. The point here is that nothing on the market beats an interest free loan. Why would Sonja want to go to a broker?

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[withstupid]
The forumite formally known as Big Rob

Julian, read some of the posts. There are obvious concerns and conscience issues.

I also notice you left the off when you quoted me. is a smiley face sideways. It means I WAS JOKING!!!!!!!!!!

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[withstupid]
The forumite formally known as Big Rob

The rules are in the wrap agreement. Also, the agent does not have a valid agency agreement as the owner didn’t sign it. You said the wrappee signed it.

I also suggest you redo your figures. 20% of $45,000 is $9,000, not $2,000.

You will also find it very difficult finding anyone to finance a property in a flood zone if it comes up on the…[Read more]