[stranMember@stranJoin Date: 2005Post Count: 18]

April 14, 2008 - 12:15 pm

My husband and I found the whole event amazing.  I know one day when we are old and experienced we will look back and reminisce about how this conference was the turning point in our lives.  Our mindset had a quick jolt and is now growing in a different sphere.  We've clarified what we want driven by the scope of information that was made available.  We picked through it all and we know have a solid vision.  We've signed up for the RESULTS program and really looking forward to putting grunt into our vision.

Our purpose is simple – to give us time to put back into our family.  We have a 6 month old daughter who we had to leave back in Sydney to attend the conference.  Its all for her and her future brothers and sisters that we need to push ourselves and this conference was just what we needed.

Life is looking good!

Thank you Steve and team for putting this on.  We will be one of your success stories by the next conference.  Its part of our vision  

[stranMember@stranJoin Date: 2005Post Count: 18]

January 7, 2008 - 11:54 pm

Exactly what I was planning.

Now with no properties to secure this against I'm looking for the best way to do this without having to fork out for expensive LMI….sounds like 85%  LVR is the best the big loaners can give.  Can any of the loan providers do better? 

[stranMember@stranJoin Date: 2005Post Count: 18]

January 7, 2008 - 7:53 am

Thanks for the responses

We've actually got enough cash to pay for 90%of the property, however we know this property would only last us 3-4 years until we have more children.  We are planning on getting a two bedroom apartment in the inner city which we would like to hold even after we move onto another bigger place.  This is the reason I do not want to lock up the equity.  We will have no other properties to secure this against so will need to lock some of it away as the deposit, but my belief is the less locked away the better.

Any tips on the best lender for this situation? 

Cheers

[stranMember@stranJoin Date: 2005Post Count: 18]

December 11, 2007 - 5:35 am

Thanks everyone, I'll make some more calls.

Cheers

[stranMember@stranJoin Date: 2005Post Count: 18]

July 31, 2007 - 7:55 am

Thanks Amanda, that's what we've been told. We've decided there is too much risk in this one.

Cheers

[stranMember@stranJoin Date: 2005Post Count: 18]

August 14, 2005 - 9:00 am

Hi,

I’d like some recommendation on good books to read to get an understanding of the different trusts, how they can be applied to investments especially in Australia.

Tanks

[stranMember@stranJoin Date: 2005Post Count: 18]

August 11, 2005 - 8:33 am

Hi,
I’m 26 and have just purchased my first property in Sydney which is a PPOR (FHOG). Its very exciting! It needs some work, but thats part of the opportunity I see.

I had good support from people on this forum helping with some questions I had. Its great knowing there are like minded people out there. Keep the stories coming, they are very inspiring!

[stranMember@stranJoin Date: 2005Post Count: 18]

June 3, 2005 - 6:08 am

I’m starting to understand. I’d like to confirm that I’ve got it right,

– Take out a mortgage of $144k on fiance’s IP. No mortgage insurance required.

– Take out second mortgage of $400k for PPOR. Use proceeds of $144k IP mortgage as deposit for PPOR. Again, no mortgage insurance required.

– We would still have $44k leftover possibly leave it in our offset account.

Would we structure this in the one loan, under both our names, say on a professional discount package.

[stranMember@stranJoin Date: 2005Post Count: 18]

June 3, 2005 - 4:42 am

Hi Mortgage Advisor,

Thanks for the top tips. I’ll have a talk to my accountant about financial recommendations on how to buy.

Regarding the 74% LVR was calculated as follows, assuming the loan is secured with both properties (IP value $180 and PPOR $500)

LVR = ($500k loan) / (security of $500k PPOR + $180k IP)
= 500 / 680
= 74%

Does this look right to you?

[stranMember@stranJoin Date: 2005Post Count: 18]

June 3, 2005 - 2:49 am

Thanks guys

Mortgage Advisor, if I use my fiance’s IP worth $180k (fully owned) and a loan for $500k my LVR would be 74%. With this scenario, I’m assuming for the first property I will not need a deposit.

Another thought, is it better to buy a house & land in SW Sydney (Padstow, Revesby) to live in for the 6 months and move out and rent for 4 yrs before moving back to the house. Or purchase an apartment/townhouse closer to the city say Ashfield or eastern suburbs Sydney and live in it for 4 yrs and not worry about renting it out. Both properties will cost about $450-500k.