Who cares what an agent thinks!

Terryw
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Usually rates notices are only required for security proeprties. And they will be valued.

Values on the other proeprties are only to be estimated, it will generally not effect your application, but it better to estimate on the high side as it makes your position look better.

Terryw
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Scamsters!

– High upfront fees
– Very high interest rate (unless she has credit problems)
– And she won’t be able to claim the capitalised interest, so the whole thing would be pointless, and costly.

Terryw
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That’s why it is not a good idea (from a financing perspective) to get loans in joint names. It adds to your risk (by exposing both of you instead of one) and severly hinders your borrowing capacity.

Not only are you repsonisble for the whole debt, not just your share, but when going for subsequent loans, only half the rent will be attributed to…[Read more]

I have also heard they are slow, so slow, in fact, that it is hard to settle on a purchase within the alloted time frames,

Terryw
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Use cash, buy a cheap one.

Financing a vehicle is a bad idea if you want to keep purchasing properties.

Terryw
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Gameone

its not as simple as that. In certain states (such as NSW and QLD) you will have to pay stamp duty again if you nominate a non related party. In VIC you can only avoid double stamp duty if you have a written agreement with your nominee before you sign the contract.

Terryw
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Pinchy

I think its too late now!

Terryw
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Whats a rooming house? A house where the rooms are rented separately?

I rented a room in a house like this while at uni, back then I didn’t know anything about real estate, but now when i think of it, the owner would have been making a fortune.

Some potential problems are sharing bills, electricity, phone (every one has mobiles these days so you…[Read more]

Some people do not have a company as trustee. Having a company adds extra protection, but with added costs.

The fees quoted seem cheap for setup going through an accountant.

have a look at cleardocs.com.au where you can set your own trust up for $137. Your accountant would probably be getting the trust from a similar place to…[Read more]

With lots of equity there, why sell? Unless the proerties are not performing.

Terryw
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North Sydney
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Is there any security?

Terryw
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http://www.mortgagemagazine.com.au

Terryw
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To sell something, you must first own it. So I don’t think it would be possible if you’ve already signed a contract. If not, maybe you could get an option on the property and sell the option.

Terryw
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Yes you can do it, but can’t claim the interest if the money was redrawn to pay for your new home.

Terryw
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Paul, it might work if you were a first home buyer, and buying in an individual capacity – ie not using a trust or company.

Terryw
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Hi

For lending purposes, generally interest will not be counted as income. It can be spent too easily.

Terryw
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ANZ has a min loan size of $20,000 for some products.

Terryw
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It doesn’t hurt to ask, does it!

Terryw
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it will be very hard if you only have a 6 month contract. Could you ‘go back’ to your old employer full time for a while?

Terryw
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