Forum Replies Created
IQ,
Why would you disclose that you were going to make another offer after your initial offer? Does this not defeat the purpose?
I would just wait an hour or two and tell you your first offer was rejected.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
Just thinking out loud….
What happens if I don’t clean the pool in my investment property which was rented out as a property with a pool and, for example, the tenant or their young child catches some unusual disease from some funky kind of algal bloom. Imagine if that poor child dies.
My insurance (if I have any) company might try and get out of paying because I did not clean the pool even though I was collecting a premium rent for it. Their excuse would be that funky kinds of algal blooms could cause death which was a foreseeable outcome by the average person. No cover means no more house and whatever else of value you own would be gone to pay the family of the dead boy who died in my pool.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
Hehehehehe… very good!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
Just kidding…
This would be one of those situations where a money partner would come in very handy. They are simply someone willing to back your business plan to invest in property. It might be family or friends until such time as you can approach the lenders for money yourself.
I hope this helps.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
WORK MORE HOURS
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
The best way to become a millionaire is to begin with 2 million!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
Mark,
A money partner can be anyone.
Controlling one million dollars of property is not hard. You can get 100% finance for $750,000 worth tomorrow and you are almost there. Do some good renovations and you may get all the way very quickly.
Scepticism is ok but you seem to be just totally negative. Just because YOU can not do something or YOU can not see how something is done does not mean that others are not doing it.
If you speak to the mappers, you might have an idea how they achieved their goals. I thought the stories were real, believeable, impressive and admirable. They did not do anything out of the ordinary. They just got of their ass and did it!
Try it.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
http://www.abs.gov.au/ FOR MORE CRUSTY INFO!!!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
Instant Equity PLUS access to more lenders!!!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
HAHAHAHAHAHAHA – you crack me up!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
Great article Stuart. Thanks for the link.
I don’t think the cost is a problem here as the few hundred it usually costs (unless breaking a fixed loan) is usually made up in the first year of benefits to the client. I think the biggest concern is the hassle of changing all the direct debits etc…
It is an interesting problem and I might look further into it.
Thanks.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
I see you are a Steven Segal fan!
It is not that they are unattractive but more so because they are restrictive. The reason they are cheap and such attractive investments in the first place is because a lot of other investors chose to stay away.
If you have heaps of cash, go for your life!!!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
Life, basically, YES it was. Obviously you have to pay interest and select your investment in a particular group of shares. I only took $100,000 worth though. I am not totally mad. I will take another 400k worth next year or the year after if the current block does well.
I will PM you a link to the product I invested in. There are heaps more out there.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
It is difficult to make any decisions without knowing the location. Number will guide the decision. Just base your figures on today’s prices and allow a buffer to provide you with a more conservative result. If this looks good, go for it.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
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 AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
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 AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
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 huge repurcussions.
I hope I am wrong and the wrappee can be protected but it would mean the borrower (vendor) would lose some of their rights and possibley a large amount of money.
It is a ‘Catch-22’ situation!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
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 AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
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 AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd
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 AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE 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 advice.
© 2004 Mortgage Packaging Pty Ltd