I was of the understanding that completed homes were being sold. If it is a land sale, you are right.

Robert Bou-Hamdan
Mortgage Adviser

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

I am not “slapping” anything. I just say it how I see it. My advice is sound and in HER best interest.

Robert Bou-Hamdan
Mortgage Adviser

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

THIS WAS ON A WEBSITE ABOUT HIM….

Gordon Green a real estate multi-millionaire, author of Real Money Real Estate, and the founder & CEO of Profitable Business Concepts Pty Ltd,

As well, Gordon is the CEO of Conquest Property Developments Pty Ltd, a development company established for his personal portfolio. He is also the mentor behind…[Read more]

This is the problem with reliance on charts and statistical data. Times have changed. The world is becoming a single market place. Policies change and Government can manipulate market conditions. I would not give much wait to past data and concentrate on current policy and economic conditions both Nationally and Internationally.

Robert…[Read more]

I would not touch it either. They will use your home to sell the new ones which may in turn devalue your home as the new ones come onto the market – possibly an oversupply!

Then they leave and you have to find a tenant when there are a heap of newer properties available next door.

Robert Bou-Hamdan
Mortgage…[Read more]

I would advise you to get your daughter to seek her own advice instead of you asking and advising her. Regarding the deposit, give her as much as you can. It is your daughter! Why restrict her future investing by giving her a minimal deposit?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

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

I wish I could tell some horror stories about borrowers. It is not always the broker or lender’s fault. Some times, once the checks commence, it is the borrower who has done things or not diclosed things which may be discovered and cause delays.

Kez, in you case though, I would have requested everything in writing. We all know the answers with…[Read more]

I just think you should sit down with someone and discuss various options before dumping an asset (or liability in this case that could be turned into an asset).

Maybe if you asked the forum about ways of making this investment a positive cashflow investmenet or very close to it.

Why is it not rented and why has it been empty for so…[Read more]

It is interesting to see how quick your ‘loyalty’ went out the window when you did not get what you wanted. Your story is a great example of why borrowers should not go direct for their loans and expect they can do all their business with the one lender as they grow and diversify.

When I speak of ‘churn’, it has nothing to do with borrower…[Read more]

Hey Michael,

Just be careful before you speak or you might get you head chewed off!

Good luck with the study.

Robert Bou-Hamdan
Mortgage Adviser

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

What does the propery rent for? I am thinking 200-230 p.w. AT BEST!

Sale price sounds a bit over the top to me. The valuation must be old.

http://www.realestate.com.au/cgi-bin/rsearch?a=s&cu=&s=nsw&ag=&t=res&snf=rbs&pr=&tb=let&u=LETHBRIDGE+PARK&cat=&p=10&o=def

Why do you want to get rid of it “fast”?

Robert Bou-Hamdan
Mortgage…[Read more]

Why TRY and raise the funds yourself????

You already have them. If you only owe $380,000 on a 1.75 million dollar property, you have over about a million dollars accessible to you. I am sure you will not need anywhere near this much just to subdivide. Just borrow the costs to subdivide if you think you can make the repayments until the lots…[Read more]

Originally posted by brahms:
i would have thought discharge fees were an attempt to recover set up costs of the initial mortgage – increased clawbacks being in place to prevent churn?

cheers

brahms

Clawbacks usually don’t last more than 12 months. Discharge costs are usually up to 4 years or more. More lenders are implementing these to recover…[Read more]

Originally posted by Sonja:
BTW she was only ex by about 10 days when he died.

In this case, I would guess that she will be the sole benficiary if she is the mother of the children. 10 days is a separation, not an ex.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made…[Read more]

Nice and clear… Thanks David.

Robert Bou-Hamdan
Mortgage Adviser

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

Simon,

I don’t think that the SES would support severe storms and wind destroying property being described as “remote”. It happens a lot!

I would certainly not buy a car and not insure it as one silly mistake could force bankruptcy. The same applies to property. If I pay 500k for a property (and it was my only one) and then I don’t insure it,…[Read more]

There are a few who calculate discharge fees on current balance. I personally try and stay away from products with discharge costs but it is getting harder as lenders are trying to prevent ‘churn’.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

FREE Finance-Related Newsletter – Click Here

Comments made are of a general nature…[Read more]

You would need to speak to others about that. May I suggest FW – Felicity… she knows wraps!

Robert Bou-Hamdan
Mortgage Adviser

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

From memory, the order usually goes spouse first, children second, parents third. An ex. should not win the case as you described. The children will be the next of kin in my opinion. I think it is the trustee which is the big issue as the kids are so young.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

FREE Finance-Related…[Read more]

Originally posted by Ravtown:
Hi Robert,

I am another newbie and this talk of interest only loans has me curious, as I alway thought that they were difficult to access.

Generally speaking who is eligible for an interest only loan?

Everyone who is eligible for a loan.

Do you have to have equity in an existing property to leverage off?

Only…[Read more]