Qlds007 wrote:
Accessing credit for any purpose days have been and gone.Some lenders will even want to draw the cheques payable to the end user. So if you say you are buying a car or investing in managed funds they will want to hold the funds for you and pay it out.A part time job will do you now good at all as clearly you wont be able to…[Read more]

Terryw wrote:
It is getting hard to access equity as the lenders will want to know what you are using the cash for – and if you say living expenses they are unlikely to live.Getting a full time permanent job (until you get the loan) may work.

Excuse my ignorance but why would the banks care what i use the money for if my LVR is looking good?I…[Read more]

Qlds007 wrote:
I live of rental income and have done for a few years now but certainly wouldnt suggest that adopting a LOE strategy is a good idea in the current climate where financing a nodoc deal is almost a dead duck and even lodoc refinance is a very limited market.

What about if I had a part time/full time job for 3 months plus so it…[Read more]

WJ Hooker wrote:
shanematt,                    You have been reading too many old books – forget the property doubles every 7 -10 years rubbish, that is history not the future.                   O yes and I have enough rentals to live off, but still work, could also live off equity – but why go backwards??

I know it seems very unlikely now but…[Read more]

Qlds007 wrote:
ShaneHow would you draw down a $100K a year when a lender wont finance living off equity ?

I get my properties revalued every 6 months or so and increase my line of credit.I have been doing this,even in the supposed stagnet market of Sydney.I have just been doing some cheap reno's.I think buying in highly sought after suburbs has…[Read more]

mattnz wrote:
Hi Shanematt,I would recommend that you try to live off positive cashflow from rentals, rather than relying on equity increases to fund your living expenses.There are many people that get this wrong and in the current environment could really come unstuck ending up owing more than they have in assets.Cheers,Matt

The more I study…[Read more]

No question.The older house.You can manufacture equity through reno's.The extra $7k is small change compared to what you reap from the better position and reno potential

Firstly surround yourself with people that specialize in investing in property that are much smarter that yourself and currently hold many investment properties themselves. Anyone other than that is just a theorist. These people are as follows-tax agent that specializes in investment property (not a bit of everything)-mortgage broker   "   &qu…[Read more]

There is a book or two that clearly points out the difference in wealth comparing the two.Its a quick read and is called 'wealth for life' by Ed Chan and Tony Melvern.I personally think buying properties in long term high capital growth suburbs that may be a little negatively geared are far more profitable than properties in less performing…[Read more]