Forum Replies Created
- Originally posted by FireCaesar:
Hmm, that’s an idea but wouldn’t I have to pay more for a 2/3 bedroom?
Another question I need to ask is when is a ‘0’ downpayment desirable and when is a 20% downpayment desirable.
This is what I’m confused about.
A simple answer to this is ‘0’ downpayment is desirable when you don’t have a 20% downpayment!!!
Personally, I always try and get away with putting as little as possible into an investment.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Just so you know, the size of the farm knocks out the majority of standard lenders in the market. Select a knowledgeable mortgage adviser who will go searching for you and don’t take the first offer made. There is usually something better out there than the first offer.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Securised funds also require mortgage insurance. Many lenders will cover the cost of this up to 80% of the property value and charge mortgage insurance in excess of this. Low doc loans often see mortgage insurance costs kick in below 80%.
Securitisation also often restricts the security property types that can be funded by that parcel of money. It can be very restrictive for lenders to use this form of financing but it beefits them by not requiring compliance with capital adequacy requirements requiring them to keep a heap of their cash in reserve.
Securitisation is often called off-balance-sheet funding. Lenders using this have a responsibility to the investors funding them.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I would avoid cross collateralising property at all cost. The only time I may consider it is where the security property is not the most suitable and the lender will not provide the funds unless the properties are crossed (like with really tiny studio apartments in some areas with some lenders).
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Your farm would also be considered commercial by many lenders as you seem to be earning an income (albeit sporadically) from it. I would love to know the size of the farm as well. This may also restrict access to many of the more standard lenders. Using standard lenders where possible will keep your overall interest expenses down.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Also, if advertising for investment monies, you need a Product Disclosure Statement – amongst other possible requirements (like a Financial Services License, etc….)
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Hi Brownbear,
I was also at the seminar. It was pretty good!
I think what Steve was trying to get at was that any property could be made into a good investment. The current annual rent and rent return tells you the purchase price to get in today. Once in, manipulating the figures by doing things like changing the use of the property or throwing in some extras to increase the yield would see increases in property value.
From the above, what I got out of the new, revised formula was that pretty much any property could be made into a positive cashflow investment property (unless you get totally ripped off at the start) or value can be added fairly quickly by making some large OR SMALL changes.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Personal loans are easy to get if the servicing is there – ie: your ability to repay all your debt. Your costs will certainly be higher when you calculate your overall interest rate on the investment.
Other options do exist that are much cheaper than a personal loan.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auComments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Find a good broker. Simon is good!!!
Concentrating on what I do best… Investment & Finance!!!
© 2004 Mortgage Packaging Pty Ltd
Unique properties have a lower demand and hence should NOT be auctioned. Every property in demand should be auctioned.
Most commercial lenders will do this if it is an established and successful franchise.
Originally posted by The Mortgage Adviser:It appears a few posts went missing… better put them back up. Can’t see why they would be deleted. Nothing offensive contained in them!!!
<<Admin: they were edited because they were deemed inappropriate. Take the hint!>>
I would be interested to see who did deem them inappropriate and who deleted them. One was a copy and paste from a moderator wasn’t it???
Also, I might be a bit slow so I might need some explanation about what you mean by “TAKE THE HINT!”
From memory I agreed to stop posting even though I was told I was most welcome to keep posting. You won’t see me posting anything under this name in Finance or Help Needed. That pathetic argument that I was advertising no longer exists as every post is now done anonymously. Still, I get threatened by the newest moderator that I will be banned.
I agree, I deem Monopoly’s PM as inappropriate. Now, what are you impartial moderators and the impartial Mr McKnight going to do about it? Remember, it takes two to Tango and I never took the lead!!!
Oh yeah, the only reason I am posting in this name now is because I find it ridiculous that Monopoly was made a moderator and I do not appreciate receiving threatening PMs or having comments made about me when I had clearly stopped posting in this name and have been minding my own business.
Also, while Monopoly is a moderator, I will continue to post regarding my OPINION that she is not suitable to be one.
Have a nice day people.
Rob
The Mortgage Adviser
[email protected]Comments made are of a general nature and should not be construed as advice to any particular individual.
Originally posted by Gatsby:Dear Rob,
I get the feeling that as a mortgage broker you appear to be heavily opinionated towards ‘INTEREST ONLY??????’ I also sense that as a broker your more concerned with making more dollars than ‘sense’. I’ve got to hit the sack as it’s late but don’t worry. Funny material and laughter will be added in later.
Cheers,
GatsbyGatsby,
Your FEELING is partially correct. I advise my clients to use interest only for 5 years if there is the possibility they may face some difficulty in the near future. It allows them the flexibility to make lower payments (temporarily) if need bebut also to make P&I or additional payments at any time. It is just so their ‘liability’ is lower for the interim. Also, for negative gearers, I see no reason why they would make any principal payments. If you view negative gearers differently, please let me know why.
Your SENSE is way off the mark. If you asked I could have told you that I do a lot of volunteer work in different areas. I spent years with St John Ambulance and SES amongst others. I used to also teach first aid for free. More recently I am getting involved with Community Radio. I also spent a lot of time on here (and other places) giving free advice which I did happily before getting pushed out by false allegations. I have also knocked back offers from investors as I prefer working alone more than making money.
Words on a screen may sometimes appear deceiving especially relative to a persons’ personality.
Can you explain where the majority of my posts did not make sense and how they gave you the impression I was all about money?
I respect your opinion as it is your own but thought I should try and clarify a little about me.
Rob
The Mortgage Adviser
[email protected]Comments made are of a general nature and should not be construed as advice to any particular individual.
It appears a few posts went missing… better put them back up. Can’t see why they would be deleted. Nothing offensive contained in them!!!
<<Admin: they were edited because they were deemed inappropriate. Take the hint!>>
I would have been interested in that add!!!
Joking..
Rob
The Mortgage Adviser
[email protected]Comments made are of a general nature and should not be construed as advice to any particular individual.
