PropertyInvesting.com | Tong | Activity

Tong replied to the topic Offset account in the forum Finance

Mon, 22 Nov 2010 12:02:28 +0000

I’m sorry for not totally understanding you guys. Could someone tell me what is an offset account?

Thank you,
Tong

Tong replied to the topic Downside of Cross Collateralised Loan in the forum General Property

Wed, 10 Nov 2010 08:26:48 +0000

Richard did give me some good feedback. I’m really getting into the hang of things on this website.

Tong replied to the topic Appraisal To Dos in the forum Finance

Tue, 09 Nov 2010 12:18:14 +0000

Good idea, Jamie. I’ll have a look at some comps in my area and prepare a list.

BTW, are you in Wodenm Canberra?

Thanks again.

Tong replied to the topic Appraisal To Dos in the forum Finance

Tue, 09 Nov 2010 10:34:23 +0000

Thanks for the clarification. The appraisal is for bank valuation.

Tong replied to the topic Downside of Cross Collateralised Loan in the forum General Property

Sun, 07 Nov 2010 10:45:44 +0000

Three more reasons? I’ll email you for them. Reading around the other forum topics, I find that crossing coll. loans is not the way to go.

Thanks,
Tong

Tong replied to the topic Downside of Cross Collateralised Loan in the forum Thanks Catalyst. I'm very

Fri, 05 Nov 2010 23:45:31 +0000

Thanks Catalyst. I’m very happy to have posted at this forum before we proceed with signing any documents. I’m currently pressing my broker to process this loans as you and others suggested.

It’s amazing what I’m able to learn in one week. From levels 1 to 10 (1 = beginning/novice, 10 = expert), I think I’m at a 4 in the this area of cross…[Read more]

Tong replied to the topic Downside of Cross Collateralised Loan in the forum General Property

Thu, 04 Nov 2010 23:53:47 +0000

Could there be another issue during refinancing? Not sure, but could there be two appraisals that need to be done if I had two properties (PPOR and IP) tied to one loan.

Thanks,
Tong

Tong replied to the topic First IP Tax Question in the forum Legal & Accounting

Sat, 30 Oct 2010 11:28:10 +0000

Thanks Jamie for your response. From my discussions with my broker, he states that the two properties (current townhouse and future home) has to be cross-collateraliized because I am seeking a loan from a the same bank. Are you suggesting the other alternative is to borrow the $100k equity from the townhouse for down payment for the new…[Read more]

Tong replied to the topic First IP Tax Question in the forum Legal & Accounting

Sat, 30 Oct 2010 04:47:25 +0000

Thanks Mal for your information. I’ll have to read your response several times to digest the full meaning and implications. Will check out the link you provided. Property investing is starting to get fun.

BTW, I like the Gary Larson polar bear picture you chose.

Best regards,
Tong