RobbieP wrote:
We going slightly off the topic, which was the accuracy of property estimates of Residex and Rest Estate Investar..Anyone else found them to be fairly accurate?

As a investor myself, if you waiting to buy something under the market you have to do it the old fashion way.

1. Write down all the prices on the current market + right…[Read more]

ledgend80 wrote:
Ok so i am toying with the idea of buying some machinery. Just wondering how loans for this is set up.ie how many years is financce over, is there a residual and any other infocheers lee

Equipment finance is what your after.
You can only do this sort of finance in a company name or personal purchase etc…

Finance can go from…[Read more]

It varies….if it’s in a area with lots of sales then it’s only 5-10% off- as the program has more data to play with.
However if it’s in an area with average or low sales volume then the value can be off by 10%-20%

Also when you say accurate, you saying accurate for the Bank’s valuation price? or the market ie selling price? – very different…[Read more]

Jpcashflow wrote:
LOL  Greek and Italian bonds – Sounds like the best investment return out there at the momentWhat can go wrong nothingthre greeks dont pay taxes lol

And they have a history of not paying back their debt as well

Regards
Michael

New housing has been declining for years…nothing new

Thats why we have the 10k QLD boost + soon to be released NSW New home concession.

Regards
Michael

It’s pretty much a ” long term deposit ” – you give the government $x , and they give you a return of y %
The Bonds can be traded and sold but can not be “cashed in”.

Not to sure what the going rate/yield are for the Gov bonds.
But generally speaking company bonds pays much higher yield ~ 9-10% for 5-10 years hold…but your comparing a company…[Read more]

There are better means to finance and structure this to offer you a bit more flexibility + a safety buffer …but I wont say it’s silly, since it’s your PPOR + rural + no intention to build.

Paying cash or finance makes no real difference in the way a land settles/exchanges contract; the only diff is you can exchange faster if you want since you…[Read more]

boney bream wrote:
We are confident the location is "great"  

Fair enough

It returns 6.8% Gross yield which is ok for Metro capital city.

Most metro returns 5 -6 % these days; but of course the larger the metro ie Sydney and VIC the lower the rental return..

Regards
Michael

Hard to say without knowing the location….
It all comes down to the location.

+ your calculation didnt include any stamp duty + another soft cost which would eat up ~ $20k of your deposit

Regards
Michael

Answer to your post- Yes low doc is still available, and some banks ONLY does low doc loans…there’s a market for it apparently

With self employed even though the “books” or tax return may be low, there are certain add backs that can be included to boost the bank’s serviceability.

But most importantly as Jamie and Richard has mentioned; you…[Read more]

jonesy06 wrote:
MichaelI'm looking to find someone who can look at my financials and give me some good solid advice on how to create wealth for my family for the future.A few years ago I had another investment property but it was eating all of my cash flow and I had no money, so I had to sell it. I finally own my own home and I have one…[Read more]

I dont know much about this scheme, but my thoughts are;

Should you repossess the property mentioned;
1. How do you know the property is not over priced to begin with ie you spent $X and now you got a property worth then what you spent…
2. What will you do with the property? is it sell-able? oversupply?
3. What happens if the company you lent…[Read more]

jonesy06 wrote:

Do who can recommend someone in Sydney who can give good financial advice?

What sort of financial advice are you after?

Financial planning?
Property investing? ie BA
Mortgage?
Super?
Insurance and risk management?
Accountant?
Debt management?

Regards
Michael

benofbrisbane wrote:
Hi Everyone – thanks for your comments.In regard to the cross collaterisation, that was done with my blessing – I didn't want to pay LMI for the purchase of the IP and didn't want to lose access to the equity I had available in the PPOR through the redraw.The 7.11% rate is on a the PPOR which was obtaining in March 2010. …[Read more]

JacM wrote:
Hopefully they will be distracted by the two offers and forget that they can reject them both.  Hopefully they'll be so busy figuring out which offer is better for them that they will indeed accept one of the offers.

Hahah Jack, i doubt they would accept any of the above offer- especially if they have another offer on board..and…[Read more]

Yep i totally agree with Richard,

The fact it’s a cross loan with LMI is not desirable; i wont go into much detail WHY crossing is not good…but all i can say is LMI is VERY VERY expensive when you cross- as it’s based on the full amount.

The 7.11% with CBA is not even negotiated down;

1. 7.11% is based on discount given to client from 1-2…[Read more]

Well since we dont know how about where, what the property is, how mnay views, how long ad etc- as each of these factors can play in how you negotiate ( ie different location have different tricks).

But a few clauses which may get you over the line is:
1. No cooling period
2. <6 weeks settlement
3. Once 10% given no conditions ( simliar to number…[Read more]

The only time i have seen a buyer wanting to delay settlement in this manner is because his finance is not yet up to date/approved- Ie meaning he doesn’t have enough deposit to “settle” the funds– so need time to save up.

Regards
Michael

EPI_Den wrote:
I’m with Commonwealth Bank and I recently negotiated a further decrease on my loan. I’m now on 6.61% which I think is 1.14% below their standard variable rates. I’m happy with this but it’s not out of the question to fix part of it if I see a really good deal!

Den

That’s 1.2% off their SVR! nicely done…

Regards
Michael

If you do it early you could + enough paper proof for the tax return.

Your accountant and maybe even the ATO might not like it.

Regards
Michael