Total Members: 158,077

Waynel

  • Waynel replied to the topic Financing an investment property in the forum Finance 2 months, 2 weeks ago

    Morning Benny,

    Thanks for taking the time out to reply.

    I see – that definately makes sense! Can I ask why you would use a different lender for the IP to your PPOR?

    Thanks for the heads up re the “cross-security” – I was just reading up on other posts such as the below you’ve commented on:…[Read more]

  • Waynel started the topic Financing an investment property in the forum Finance 2 months, 3 weeks ago

    Hi All,

    Due to recent equity gains in my PPOR I’m considering purchasing an investment property. With a PPOR valued at $900k and a loan of $500k I currently have approx $400k in equity.

    Assuming I can use this property as a guarantor for the new IP loan, can I assume I’ll be able to get a seperate IP loan which exceeds the IP property value.…[Read more]

  • Waynel replied to the topic DIY SMSF in the forum Finance 2 months, 3 weeks ago

    Thanks Therese – appreciate the response:)

  • Waynel replied to the topic DIY SMSF in the forum Finance 2 months, 3 weeks ago

    Hi there,

    I’m also looking into using esuperfund… it’s a few years since you posted this, though assuming you went ahead… can I ask how you went?  Did you manage to successfully buy a property through eSuperFund?

    thank you

    Wayne

  • Waynel replied to the topic Rental income and child support payments in the forum Help Needed! 9 years, 4 months ago

    Hi Guys,

    Thanks for the response. I plan to meet with CSA next week to get a better understanding. Will let you know how I go:)

    Rgds

    Wayne

  • Waynel started the topic Rental income and child support payments in the forum Help Needed! 9 years, 4 months ago

    Hi there,

    I hope to seek some advice. I’m currently going through a divorce and hope to keep the house as I believe it will be a good investment. However due to the maintenance I have to pay it looks like I’ll have to move back in with my parents and rent the house out (Expected to be neutral once rates/insurances etc come out).

    One thing I’m…[Read more]

  • Waynel replied to the topic Property gains after divorce in the forum Help Needed! 9 years, 4 months ago

    Okay – thanks Terry:)

  • Waynel replied to the topic Property gains after divorce in the forum Help Needed! 9 years, 4 months ago

    Hi Terry,

    Thanks for the prompt reply.

    In regards to new interests, I’ve always paid everything related to the property since we’ve owned it (mortgage, rates etc). We did both re-mortgage to renovate the property though this is in the past.

    I assume when you say helping to renovate – your meaning in the future? Eg, she moves out, the property…[Read more]

  • Waynel started the topic Property gains after divorce in the forum Help Needed! 9 years, 4 months ago

    Hi All,

    I’m looking for some advice. As per a previous post I’m going through a divorce. As a result my wife has moved out and a possible option is for me to buy my ex’s share of the property. The idea being that once an agreement is reached a consent order would be submitted to the courts and the settlement would occur to transfer the…[Read more]

  • Waynel replied to the topic Divorce – can I keep the house? in the forum Help Needed! 9 years, 5 months ago

    Hi Again,

    Additional to the above, does a guarantor help in regards to serviceability? Eg, if my parents went guarantor on the loan. (I highly doubt they will though was a thought that crossed my mind)

    cheers

    Wayne

  • Waynel replied to the topic Divorce – can I keep the house? in the forum Help Needed! 9 years, 5 months ago

    Kinetic – once again thanks for the reply. Yes, agree with the loan repayments – I will continue to pay the full mortgage as I have done in the past.

    I think my next step is to get a valuation done to confirm the exact loan amount required. Would the best approach be to engage three real estate agents and take the average or pay a certified…[Read more]

  • Waynel replied to the topic Divorce – can I keep the house? in the forum Help Needed! 9 years, 5 months ago

    Hi Terry,

    No – no property agreement has been made at this stage.

    Corey, thanks for the advise.

    Kinetic – you mentioned that on face value (with the above figures) I should be able to qualify for a loan. Was this factoring in full expenses for the kids?

    Thank you

    Wayne

  • Waynel replied to the topic Divorce – can I keep the house? in the forum Help Needed! 9 years, 5 months ago

    Hi Jamie,

    Thanks for the reply. Yes, but if I re-mortgaged now prior to any decision on child maintenance costs (i believe this would be a court process that occurs at a later date) then would this cost not be factored in or would the banks question why the title is going into one name and preempted possibility of maintenance fees?

    Hope I’m…[Read more]

  • Waynel replied to the topic Divorce – can I keep the house? in the forum Help Needed! 9 years, 5 months ago

    Hi Guys,

    Thanks for the advice. At this stage the only other liability I have is a credit card ($2k limit with $1k owing).

    Corey – thanks for the tip re: clean payment history.

    The one thing I’m unsure on is maintenance. I believe I can provide a good life for my boys and would be fighting for at a minimum, half or up to full custody. If…[Read more]

  • Waynel started the topic Divorce – can I keep the house? in the forum Help Needed! 9 years, 5 months ago

    Hi there,

    I was hoping to get some advice. I’m going through a challenging time in my life where my wife wants a divorce.
    We have two kids and a PPOR that I’ve put a lot of money and time into renovate. (When I met my wife I had two rentals which I sold to put $$ into this PPOR). The house is in a great coastal location, close to the school,…[Read more]

  • Waynel replied to the topic Helpful tips for when writing up an offer in the forum Help Needed! 9 years, 10 months ago

    Hi All,

    Thanks heaps for the insightful advice. I decided to hold off on making an offer on this one (numbers didn’t quite stack up) though I’ll certainly be using some of the tips above for future offers:)

    cheers

    Wayne

  • Waynel started the topic Helpful tips for when writing up an offer in the forum Help Needed! 9 years, 10 months ago

    Hi there,
    I’m considering making an offer on a property in Perth’s northern suburbs (close to where I live).  Before I do, does anyone have a link to helpful tips when making an offer?  Eg, things to include in the written offer, strategies to build a strong case for what your offering and so on?
    Thanks
    Wayne

  • Waynel replied to the topic Positive Cash Flow Property Finder Tool in the forum General Property 9 years, 10 months ago

    What would be cool is a mobile app that calculates returns on the fly.  (Similar to Jamie’s spread sheet – http://www.passgo.com.au/investment-property-analysis-tool.html)
    When your at home opens, you could simply open the app, punch the price and rent return, then it spits out a feasibility report (eg, shortfall, yield etc)

  • Waynel replied to the topic Positive Cash Flow Property Finder Tool in the forum General Property 9 years, 10 months ago

    Hi Andrew,
    This sounds interesting – I’m a web designer by trade so would be interested in testing this out
    Rgds
    Wayne

  • Waynel replied to the topic Help with working out shortfall on an IP in the forum Help Needed! 9 years, 10 months ago

    Cheers – will do Jamie:)
    In regards to releasing equity – can this not be done as a line of credit? eg, so you end up with two seperate loans and you don’t have to refinance the first?
    In regards to break costs, I’ve heard this can work in your favour.  Eg, if the rates go up and the bank can get a high return they break with no fee or may pay…[Read more]

  • Load More

Waynel

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