It is very unlikely that the valuation on this property will be higher than $290k unless you have done some extensive renovations on it and even then there is no guarantee of a higher valuation.

Therefore lets assume that the valuation is $290k. If this is the case then your current LVR is 86.20%. This means that you can draw upon the equity at…[Read more]

You mentioned your house is worth $170k and the loan owing is $175k. Is this correct? 

Regards

Shahin

How are you calculating equity? What is your current loan amount and the purchase price of the PPOR and when did you purchase it?

Regards

Shahin

Westpac increased this week and the other majors will follow within the next few weeks.

Regards

Shahin

Gosh its only $29 – I spent more on lunch today. 

Have you seend this http://babylonfrog.com.au/app/App.htm

Regards

Shahin

You have to treat this transaction like a business and do the numbers. 

Ok so lets look at the second option first. If you sell your current property, factor in all the costs associated with selling your current property and buying another property and then look at the net operating cost. 

Now weigh this up against your current (which is your…[Read more]

You will need to advise both your solicitor and your lender ASAP of the change. Change of ownership means the loan application will get re-worked. 

Regards

Shahin

What program are you referring to?

Regards

Shahin

Yes you can do that and you can even get secured car loans at around the 6.50% mark. However I am a little confused – you are struggling to meet repayments so why are you considering a car loan? 

Also based on the numbers with property 1 – it looks like you are cross securitised however you mention that property 2 is owned by your partner?

Can…[Read more]

Great guy and I have had several client use him as a BA and have been happy. I think he has a trial of deal finder where you can see old properties.

Regards

Shahin

Be very careful when considering personal loans – they (and other unsecured debts) have horrific consequences on credit scoring so if things are tight you need to tread carefuly.

Regards

Shahin

Yes it is – which state is this?

Regards

Shahin

Good work sounds like you are on the right track. A lot of investors overlook the simpler strategies. 

Regards

Shahin

Just because the properties are positively geared does not mean that it will help with servicing. There are numerous ways to improve your servicing. Most of the investors I manage hit the equity wall faster than the servicing wall so you need to factor that in.

Regards

Shahin

How long have you been self employed?

There is a big difference if you are planning to construct 2 vs 3 vs 4 dwellings on a single title. This will be a crucial thing to consider when choosing the lender. Most lenders will do 2, some will do 3 and very few do 4.

Regards

Shahin

DB's on OTP's are expensive and you can only do one.

Regards

Shahin

Where abouts in Sydney?

Regards

Shahin

Seriously they are terrible investments – do the cash flow numbers and understand each and every outgoing cost. I know $175k doesn't give you huge options but there several properties that I can see in that price range that will give you both good scope for CG and cashflow.

Regards

Shahin

Wow cool ok – maybe I should get a forum client to comment since his about to do one in that suburb!

Regards

Shahin

Depends on the area – a couple of local PM's are the best people to comment.

I had one client who had a GF right next to the uni – there was a massive demand for furnished properties. This rule however does not apply to all locations.

Regards

Shahin