Imron

Ni hao!

I too have a great love of language learning and was planning to go to Beijing this year to improve my Mandarin. I’m just trying to improve my cashflow a bit before hand. (pls email me off line at [email protected] so we can talk more about China).

Have you thought about being an investor? There are people/companies that wrap for you. You put up the deposit and get teh loan and they arrange it all. Many people living o/s use these companies. I did my first 3 wraps using a company in Melbourne, my total upfront costs were about $8000 per property and I got the FHOG back as deposits ($7000 each!), but I was working and able to qualify for 95% loans. As you are not working here, you may have to go Low doc. That might get you a bit of cashflow, (ie $2500 to $3000 per property), you could go back to China and wait for them to cash you out and tehn go and buy 2 more and so on. just some ideas.

ps what are the living expenses like in Beijing?

Regards

Terryw

Wei

If you concentrate on the cheaper properties and get the FHOG from the buyers, then it wouldn’t require much money out of your pocket at all. You could probably get a few of these loans at a high LVR before you hit serviceablity problems, by that time you will have all that cashflow comming in which will help you save up the deposits for the next property and so on.. snow balling.

Terry

Hi Matt

Here are some quick thoughts. What about doing some type of rejuvenation to your house. something that will increase the value without costing much. Paiting, gardening, carport etc.

Also when you go to apply for your line of credit or next loan put down your house as being worth a lot more than you think. I know someone that thought his house was worth $440,000 so he put down $470,000 and that is what the bank valued it as-they didn’t even do an inspection.

Also have you got a 100% offset account linked to your home loan. These can save you heaps of interest, and it is a snowball effect when you start saving interest on interest!!!!

Terry

I have some wrapped properties and used ANZ thru a broker. I disclosed to the broker, I don’t know if she told ANZ!

Terry