All Topics / The Treasure Chest / Loan Structuring

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  • Profile photo of Paul_3Paul_3
    Member
    @paul_3
    Join Date: 2002
    Post Count: 8
    December 6, 2002 - 5:29 am

    Hi all first timer back again……

    I have been investing in property for 3 years and have a property portfolio of $510000 3 x property’s all rented out(one wish i live in)
    $440000 mortgage P & I one big loan one bank(ANZ)they run on a – cash flow on advise from accountant as I earn above average wage(above $70000 a year & single) to bring that tax able income down….

    Goal is to buy more propertys with a cash flow + producing a $70000+ ayear income and wave good by to my boss…hopefully within the next 10 years..???

    I think I am doing ok????…..I read lots of property books and I am currently waiting on delivery of Steve’s Wrap kit….but would like some feed back on the above mention loan structuring and how to get those extra cash flow + property’s

    Thanks
    Paul

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974
    December 10, 2002 - 12:02 pm

    Hi Paul,

    Welcome back again…

    Just a quick question. Do you have a professional package with ANZ?
    Or standard P&I loan?

    Cheers

    Sooshie [:)]

    There are no problems, only solutions!

    Profile photo of Paul_3Paul_3
    Member
    @paul_3
    Join Date: 2002
    Post Count: 8
    December 11, 2002 - 2:26 am

    Hi Sooshie,

    It is just a plain Standard P & I loan.

    Thanks
    Paul

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974
    December 11, 2002 - 9:10 am

    Hi Paul,

    I’m no expert at these financial things…personally I just prefer to spend the money, but I know that if you have a loan over $300,000 you actually qualify for a .5% interest loan discount. Ring up ANZ and after the usual run around/telephone tag they play with you, they will put you through to someone who deals with finding the right package for you. A professional package has some nice little quirks and if your an existing customer you can negotiate a deal with them. We did.

    Cheers

    Sooshie [:)]

    There are no problems, only solutions!

    Profile photo of Perky29Perky29
    Member
    @perky29
    Join Date: 2002
    Post Count: 14
    December 12, 2002 - 6:45 am

    Guys,
    Westapc has a professional pack for income earners above 60k – and it is is .7% off the standard rate.Something to think about….

    Perky

    Profile photo of golfergolfer
    Member
    @golfer
    Join Date: 2002
    Post Count: 27
    December 14, 2002 - 4:17 am

    Hi Paul

    With regards to your Anz Bank loan. You should ask them for the Premier Select Package. It has a slightly cheaper annual fee than any of the other majors and for total loans over $250,000 you receive a 0.6% off the SVR for the life of the loan. If you need any other information feel free to email me at [email protected]

    Regards
    Richard

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