Forum Replies Created
The only concern I would have with this strategy is you are banking on your ability to get a second card to transfer the debt from the first card.
I am unsure how the financial institutions would rate you getting a card and maxing it out (or close to it) in a relatively short period of time and then applying for a new card?
Have you previously had credit – even though you have a job and savings, if you have limited credit history, I would be suprised if they provided such a large amount on an initial credit card.
Just my 2 cents.
Mike,
Thank you for sending the report – provides a lot of valuable information!
John
Had a chance to review the report – interesting reading!
The Residex estimate is $218,600. 12 months ago they were selling for $180,000 – I am assuming this is the result of the FHOG? Do you think the price will drop after the FHOG is removed?
Still looks viable – decent rent – need to investigate the sinking fund for the body corporate.
JohnRichard,
Thanks for the prompt reply! Will review the report tonight after work.
John
Hi,
Just joined the site and am finding the information contained in the posts fantastic.
My wife and I are looking to use the equity in our PPOR to pruchase an investment unit as a first step. We are looking in Merrylands – close to Parramatta. From the posts we know we need to look at other costs such as the body corporate and the sinking fund for repairs to common areas.
Found a property and I was wondering if you could provide a report for 13/20-24 SHERWOOD ROAD MERRYLANDS NSW. I want to get an understanding of what the report indicates and try and educate myself as to what other questions I should be asking.
My email is vjmeo1 at optusnet.com.au
Thanks for your help!
John
