Total Members: 150,708

ronnie01

  • Hi Guys,

    I hope every one is well, just have a quick question for the brokers?
    My partner and I have purchased an off the plan apartment which will be settled around August. I will be looking for finance very soon but property is only under my name so does that mean I will need to add my partners name to the property in order for both of us to…[Read more]

  • Thanks a lot Benny, I totally understand now! so using your example above, If I were to just have a principle and interest loan and no offset account and had dumped the $100,000 to my repayments nothing would change, my repayments would still be $2000 per month the only thing would change would be the loan term reduced in years, is this correct?…[Read more]

  • Could you give me an example of this Corey? Cheers mate

  • Hey Jamie,

    At this stage I don’t have any loan, but just above I was referring to interest only loan as the guys mentioned that above.

    Thanks

  • Hi Corey,

    Oh wow that is great news. So if I somehow acquired $480,000 loan balance amount and put it into the offset would that mean I would pay zero repayments? Am I somehow on the right track haha how come not many people know about this, most people I talk to just tell me principle and interest so that way you can pay off some of your home,…[Read more]

  • Hi Benny,

    Thanks for your reply, oh WOW so are you saying Benny using my example above, If I dumped $100k into my offset account My repayments would be reduced from $2200 monthly? If I did not have a offset account and just payed the $100k to my loan would I just be paying the same repayments of $2200? I hope along the lines somewhere this is…[Read more]

  • Hi Guys, I hope everyone is fine and well. I just have one question in regards to home loan repayments. For example I purchase a property worth $600,000 with a 20% deposit borrowing $480,000 on a 5.5% interest only loan making my repayments Aprox $2200 monthly. Say a year later I receive $100,000 from gift or inheritance and I want to put it…[Read more]

  • Hi guys,

    This question might be a little off property, but I read this forum a lot with property investors setting up interest only loans using long term loan repayments, so they have more cash capacity to invest in more properties. Do you investors apply the same method with business loans? for example if I wanted to get a business loan for…[Read more]

  • ronnie01 replied to the topic Home Equity in the forum Help Needed! 5 years, 8 months ago

    Hi Guys

    I think I am beginning to understand so using a similar example if my property is 600k and I have 300k paid off and the banks will lend me 100% LVR than I will have access to the whole 300K to invest in another property? if the bank will only lend me 80% (600,000/0.8= 480,000) 480,000 – 300,000 = $180,000 equity? Is this correct?

    Thanks guys

  • ronnie01 replied to the topic Home Equity in the forum Help Needed! 5 years, 8 months ago

    Hi Guys

    Wow thanks for the information guys and thanks Benny for the other info it help me understand why not just paying off your mortgage for 30 years was the best option, I think I am getting there but still a little confused, so using the same example above if my property is $600,000 and I have $120,000 equity. I than want to buy an…[Read more]

  • Good Evening guys,

    I wanted to ask about Equity, my basic understanding of Equity is the difference between what your home is worth and how much you owe on it so if your home is worth $600,000 and you owe $480,000, you have $120,000 in equity. So using the same example if I was to put a 20% deposit on a $600,000 property ($120,000) does that mean…[Read more]

  • Hi Benny thanks for your reply, If the property purchased had a great capital growth over time and you are using interest only loan , I can understand in the future you can sell for a lump sum as the property has risen in value while claiming tax deductible on the loan, but what if you purchased a property that has a very low capital growth or…[Read more]

  • Hi I know this is an old post but I enjoy reading it and wanted to ask if jwareham1985 converts his loan to interest only loan and rents it out as an IP how will he ever get to pay the loan off?

  • Thanks for the link Benny wow there was so much information that I didnt know. If I was to buy a property with my partner and for example we earned $50,000 each and we were negatively geared $5000. At the end of tax year how would that calculate that ? Would we be treated taxable income together since the property is under both names eg 50k + 50k…[Read more]

  • Haha yes I will ask him next time Benny. I did however ask him if I did buy this could I resell this for more after completion and than his answer was property always goes up and you should keep this longer so you can negative gear for tax purposes and claim depreciation etcc ….

  • Thanks for the reply guys, To be honest I don’t know much about property investing, just read an article on the train one time about brief explanation on positive gearing and negative gearing. The sales guy was well dressed and fancy so I thought he might of actually been right, because coming from a kitchen background I serious don’t have much…[Read more]

  • Hey I went to a off the plan showroom today in melbourne CBD today to look at apartments. The sale guy in there was really pushy and pitching me the positives in buying off the plan such as stamp duty savings, first home owner grants etc and he was saying how great negative gearing is as an investment. In my head I am thinking this property is…[Read more]

  • Hey guys my dad has an apartment in the city and his apartment is worth around $550,000. Many apartments with the same floor plan have been sold for about around $550 – $560K within the last year and one recently sold below his level last week for $560k. Most real estate agents have valued it around that mark, but when he got a 2 different bank…[Read more]

  • Hey if I purchase a first property, can I rent it out right after settlement or do I have to live in the property for a X amount of time first before I can do this?

  • One more question how do people come up with the capital growth calculations just for example melbourne cbd has a capital growth 5.0% anually (just making it up for an example) 

  • Load More

ronnie01

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