I haven’t seen his stuff, but really what secrets could he have in his material that is not out here/there?

I’m not saying it is bad or not worth it, it may be worth it just for having all the info in the one place that would be easy to read – unlike on a computer screen.

Terryw
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Tony

You need to put down the name of the lender and the amount. If not, then they could offer you finance with another lender at say 20%, and you may no longer be able to back out.

Terryw
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Its very hard to get finance for a business. If you have equity, then the easiest option is to simply get a LOC for ‘future investment purposes’, then buy your business with this.

Terryw
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The only way to keep buying is to keep coming up with deposits. This can be done by saving madly, and/or capital growth, increasing value, buying and selling (at a profit!), wrapping, etc etc.

Terryw
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Tell them you could do it, but would have to charge them an extra $X pw in rent and see what they say.

Terryw
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Offices can have a higher yield, but the vacancies tend to last longer than residential houses.

Terryw
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I love studying and spent a lot of time at uni, and a bit of money. These days the courses are so much more expensive, that I am not sure of the value. If I could go back, I would ditch Uni, start working asap, retire quicker and then go back to study for fun.

Studying Physiotherapy is probably going to cost you a forturne in HECS (its in the…[Read more]

Mar 17 is still 3 weeks away. You have plently of equity in IP1, why can’t you use this, but are able to get a stand alone loan? They must be looking at a different lender to your existing ones, so cannot refinance in time? It takes an average of 24 days for the refinance to go thru.

Other otpions are
1) to stay at the existing lender, and cross…[Read more]

The point of a LOC is so you can deposit as much as you can as quick as you can and still have access. However, this doesn’t work to well on investments if you want to withdraw money for personal items later on.

Each deposit is considered by the ATO as a repayment. Each withdrawal is new borrowings. So if you put money in, you should not take it…[Read more]

Do a search on this site. There is heaps of info – everything you need to know!

Terryw
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Tony

Goodluck with Nationwide, but beware that somelenders will still pull out despite such letters, so cover youself. This happened to me with a smaller lender whose name begins with a ‘H’!

Terryw
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Most investors have IO on investment loans – it is standard practice, especially if you still have non-deductible loans.

Terryw
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one can learn the same principles from a website like this.

Terryw
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it is not a good idead to buy in a company name. Go for your own name or a trust. Companies do not get the 50% CGT reduction and your shares are at risk if you are ever sued.

Terryw
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Just wondering, why do you think you have made a mistake?

Terryw
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You certainly would not be able to get 95% loans for student accomodation. This is sepcialised security, and you would probably be limited to 70%.

However, if it was just put up as a standard residential deal, it may get thru. It may depend on how it looks to the valuer.

Terryw
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Guarrantors are generally frowned upon these days – unless the guarrantor is benefitting from the loan. Spouses are often an exception. But not being married, my make it difficult so you may have to go on title to guarrantee his loan.

Whether you can use your existing property as additional security for his loan will depend on how much equity you…[Read more]

Sell to your own trust. You would still have similar costs though, except agents fees – and you still get to ‘keep’ the house.

Terryw
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Hi

I hadn’t heard of Olly before, so did a google search and found this review:
http://www.landlords.co.nz/article1127.html

It sounds like an interesting book by an experienced NZ property investor.

Terryw
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There are only a few lenders that will take tax deductibility of interest into account. From memory one is Macquarie Bank. The last time I looked at Westpac, I don’t think they did.

Terryw
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