I believe banks will let you use 80% of equity, some 90%
45k x .8 = 36k
Just my understanding.
Best advise I can give is get in touch with a good mortgage broker who can really help you out.
sampson_701 replied to the topic removing cladding and fixing weatherboards worth it – to sell in the forum Value Adding 3 years, 4 months ago
Good question – I would be interested to hear what others think.
Very generic answer – whatever creates the most value – but I guess that is what you are asking. See what others houses in the area are selling for with cladding vs weatherboard. I know most people when doing renovations look at a return of $1 spent to return $2-3 so maybe weigh…[Read more]
Asking for a friend and curious myself. Wondering your thoughts on buying off the plan in a new subdivision and then selling on completion… I’m not a fan myself as there is continuous supply as the development continues to expand, but guys are buying for $450k, waiting 16 month for build then selling for $550, then there is CGT I…[Read more]
Well done on your savings. I am by no means an expert but will reply since there are no others yet.
My first IP was bought with 10% deposit and I believe you could even do 5% with guarantor if you wanted to. Steve in his program generally recommends 20% for various reasons.
Seek the help of a mortgage broker. Jamie Moore who you will find on the…[Read more]
I was in your situation less than a year ago. I decided to use a buyers agent not only for their services but also as a learning opportunity. There was so much involved in buying an IP that i didn’t know about. My buyers agent mentored me through everything and decision making. I felt much more at ease that I was starting out on the right…[Read more]
Just wondering if any has had any experience with the Binvested team and their buyers agent service. Looking at QLD for my next purchase and won’t have the time to fly up and down looking at properties, I also enjoy learning from the agents being new to investing. What were your thoughts if you’ve had experience? Alternatively any…[Read more]
sampson_701 replied to the topic Family guarantee and 0% deposit or go solo and pay 10% ? in the forum Help Needed! 5 years, 4 months ago
Thanks everyone for the helpful responses. You have all shown me that getting family property tied up in investments is defiantly not the way to go.
Like I mentioned initially I don’t know anyone who could gift or loan me the extra deposit. I have $35k at the moment and because of my casual employment I will need 10% plus costs, plus some…[Read more]
sampson_701 started the topic Family guarantee and 0% deposit or go solo and pay 10% ? in the forum Help Needed! 5 years, 4 months ago
I’m looking at buying my first IP and have been talking with Alan Fox and Jamie Moore who are both fantastic and I would recommend them to anyone. It’s seems financing an IP has come down three option to secure a loan of $400k (I have $35k savings)
1. Mother guarantor and use her PPOR to pay 0% deposit and put savings into offset…[Read more]
sampson_701 replied to the topic Any Property Investment Advisor and Buyers Agent in Newcastle NSW? in the forum Help Needed! 5 years, 6 months ago
Thanks very much Jamie
Who is Jac M and Richard Taylor? How would I get in contact with them?
Ill give Alan Fox a call too.
sampson_701 started the topic Any Property Investment Advisor and Buyers Agent in Newcastle NSW? in the forum Help Needed! 5 years, 6 months ago
Just wondering if anyone can recommend a property investment advisor and buyers agent in newcastle/central coast region.
Once again thanks for your help.
sampson_701 replied to the topic Seeking a Mentor or experianced investor in Newcastle / Central Coast in the forum Help Needed! 6 years ago
Thanks heaps everyone for the response. Just got back online after a week or so and was great to see people interested in helping
I would love to catch up when your around Richard. Cheers
Thanks very much Benny. Like you said, now I am finding questions to answers I haven't even thought about yet. It sounds like you have had a bit of experience and I appreciate you sharing it with me.
The home are about 5 minutes away from each other so no one is really closer to shops more than the other. Very similar. The old one is in an area…[Read more]
Thanks God of money and JacM appreciate your thoughts,
I have read a little into student rentals and a lot of it lines up pretty closely with what you have both said – that it’s usually more drama than profit. I think I can overcome some of the problems as it is not a large uni but a smaller college, and becsuse I work there I am regularly asked…[Read more]
Hi Benny, thanks heaps for your thoughts. Really appreciate it.
The old house appears structurally sound but will defiantly get building report. The current garage is free standing and I don’t believe dual occupancy will be a problem for the area.
Sorry the renovation isn’t really a “full reno” I guess. It included kitchen, floorboards, lighting…[Read more]
Sorry, just trying to get some advice on what people think would be the better of the two for an investment property…a friend told me to stay away from older homes and pay extra for the brick home…other have said get the cheaper one as its just for students , but I still have to look at resell value….just trying to get some opinions from…[Read more]