Total Members: 158,198

Sark0605

  • Sark0605 started the topic Where to buy in Melbourne ! in the forum Help Needed! 6 years, 10 months ago

    Where would u suggest to buy in Melbourne
    – house
    – established
    – 550K

    Most importantly what suburbs to AVOID that is available in that price point mainly due to high rate of criminal activity etc.

  • Sark0605 replied to the topic non-enduring power of attorney(POA) in the forum Help Needed! 6 years, 11 months ago

    I understand it is required so they can represent me in auctions ?

  • Sark0605 started the topic non-enduring power of attorney(POA) in the forum Help Needed! 6 years, 11 months ago

    Anyone signed a non enduring power of attorney(POA) before with a buyers agent ? Anything i should be aware of ?

  • Sark0605 replied to the topic Use all available equity or take new loan in the forum Finance 6 years, 11 months ago

    I will not be paying any LMI since i am not borrowing more than 80% anywhere thanks to equity.

    Anyways i think option 2 is better since i am taking advantage of available equity now. It might go down in a couple of years and I wont have access to it. It also keeps the LVR down on new property for new bank since it will use IP3 as security.

  • Sark0605 replied to the topic Use all available equity or take new loan in the forum Finance 6 years, 11 months ago

    Yes thats right …i put the wrong percentage in .apologies..eg
    IP 1 : equity available 100K
    IP 2 : equity available 80K
    new IP 3 : PP is 500K
    Serviceability is 500K

    Options without LMI
    1. New loan 80% and 20% equity from IP 1..both LVRs for IP1 and IP3 will be 80%
    2. Access all available equity (180K) from IP 1 and IP 2 and borrow remaining…[Read more]

  • Sark0605 started the topic Use all available equity or take new loan in the forum Finance 6 years, 11 months ago

    Hi guys
    I was wondering which is a better option. I have two IPS which have equity around 200K. I can service only one more loan of 600K. Should i use all of my equity and borrow the remaining 400K from new loan or should I just get the 10% equity and borrow remaining 540K from new loan.

    In the long run which would be a better option

    Ta

  • Sark0605 became a registered member 7 years, 11 months ago

Sark0605

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