Another quality contribution……….

Hi Sandy,Great news you are on the upward run – and great you have that income now.May not be what you want to hear, but if you are 'single', and now in a position to have a bit of surplus income, see what sort of inroads you can make on your c/card debt for the next 6-9 mths. You may surprise yourself. You will need a deposit to buy, however if…[Read more]

Interesting – I restructured a deal for a guy last year that was on very high income (that would be over $100k) that they had negatively geared by levereging his owner occupied home so badly that he could barely even 'service his loans' on paper. And the 'interesting thing' was as I was giving him a bit of 'general investing info strategy type…[Read more]

As per the above again  – the fact of that matter is valuations or 'estimated market values' are based literally on what land or a property sold for – in your case, it was the contracted price less the $10k (or whatever that amount was'.  Bank panel valuers or inspections people (and I imagine all valuers at present) have specifice instructions f…[Read more]

duckster wrote:
Thanks for that. I don't have a steady two year income stream yet had to sell most of my shares to avoid the market collapse. Also the private business I am running has not made huge income yet ,but that's cause I am running it part time as well as being house dad. My two kids start school next year !Who knows might be able to…[Read more]

I'm sure the rest of us (sigh) will follow in some sort of way. But a piddling 10 points? It's all a ploy to take attention away from the fact that fixed rates have soared way up over the last 2 or 3 weeks with lenders – that you generally never hear much about in the media – try up to 80 points in 3 weeks on 3 yr rates with some!!!!!!

Thanks for sharing that – Didnt go, but I must admit to thinking after the 'emotional side' to reading RDPD that there was nothing even in that of any tangible fibre – other than generalisations.Must admit I would like to hear Peter Spann sometime though – as at least he sounds both interesting and has the runs on the board.Must admit to only ever…[Read more]

newbi2 wrote:
I would have also thought that  an unconditional loan is based on the circumstances on the loan application. I would imagine that you will find a clause stating if circumstances change then the bank reserves the right to "rethink". Cheers

Spot on newbi2 – although they would have to be aware of this. If it happened shortly before…[Read more]

Hi CraiganddellyUnless it was your existing bank you are applying with, you will likely find they will want to see genuine savings. Unless your gift is around the 20% deposit  of course. Even if you dont have the full 5 or 10 % deposit in genuine savings, it is expected that you would have to have some sort of savings history/record otherwise how…[Read more]

HI Jaffa,Sounds like the agent is being contankerous then – assuming that is what the vendor has told them to do/say.You could always use a due dillignece type clause instead of the 'finance clause' however if they want unconditionla, I imagine that they will treat that the same as a finace clause. I seriously would have thought, if the vendor ac…[Read more]

Hi JAffa,What state are we in?Cheers

Kooz, without more details it is hard to say – however, if you had a 20% deposit (I know most dont – but this is an example) a regular income from full time employment, and can service the loan, ANY bank branch that can not give you same day (you may need to make an appoinment of course) conditional approval you should walk out an go next door to…[Read more]

Has the deceased been removed from the house? Yech – sorry, I know that was in poor taste.Seriously though, if it is carpeted, you will likely need that replaced, and you would be amazed how much new paing absorbs smells.We had a tennant that had dogs wizzing pon the carpet in one of the rooms – and no amoutn of cleaning could get rid of it.If it…[Read more]

Hi Navy boy,No fun thats for sure. As Terry mentione, it is a bit hard to give you to many specifics without more details – which you may not wnat to air here. However, I think the foremost thing to do is communicate via your local cba branch – and dont go in angry/obnoxious, as it does not achieve anything. The upset/dissapointed bit works heaps…[Read more]

Hi coco bean,Could be any where for your first investment…..no worng or right, but bear in mind distance can make things tricky if things dont go as well as you would have liked. If the sums add up and it is a good, sound deal, and you are familiar (or know someone who can hlep you/or is) with the area,  does not really matter.Bear in mind…[Read more]

A really good question……In theory, if you have a 'traditional style' bank loan, this would not normally be a problem – unless you request the bank revalues your property – usually that would only be if you are planning on borrowing more against it, cross securing it with another property, or if you have a business facility or revolving type of…[Read more]

[/quote]I think you might be talking about "Your Investment Property". I find it to be a great magazine, especially for someone like myself who is still starting out and trying to gain as much knowledge about property investing as possible.[/quote] Yep Gezzy – youre right — I have'nt bought eitehr mag for the last few issues, but bought the…[Read more]

Qlds007 wrote:
Hi KarenCould possibly be true as NAB dont do internal valuations unless the loan is Lodoc so maybe a problem with the loan itself.

Kooz may have this as a problem, as the above is no longer the situation – I am aware NAB has been asking for internal valuations (or even a short form val from a panel valuer in some cases) for a…[Read more]

Rates noitce (where it gets posted to),utilities bills/connection, your current residential address, (remember it is on your drivers license) Its no problem to prove if you are indeed living in the house and legitimately availing yourself of the grant. And you need to commence living in it for a period of 6 mths min, within 12 mths of…[Read more]

Hi GOM – I have, but must admit would not if I did not know the area a bit (Had an idea of the general lay of the land when we bought one property sight unseen) and always got a building inspection (and pest too – although not needed in Tassie!) We did put in an offer a couple of years back on a place sight unseen, and got a building report which…[Read more]