All Topics / Finance / Financing for first IP

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of brendogsbrendogs
    Participant
    @brendogs
    Join Date: 2011
    Post Count: 30

    Hi there,

    I have been devising a strategy to get into my first IP and kick start my portfolio as early as possible. I’m 22 and have 21k saved in an investment bonds account. I have a couple thousand in shares and own 2 cars worth about 50k in total. I am on $50k before tax and have a spotless credit history. I have a $1000 credit card with $400 owing and a personal loan of $10k which I only ever used once and has been closed since but it is still available. I would like to know off the bat what rough figures I could expect to be approved for. I was looking in Bendigo at the lower end of the market from $150k – $250k and planning to do some renovations early to add value and increase potential rent. Any help from the lenders here would be handy.

    Regards Brendon

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi Brendon

    Perhaps it's best to shoot an email to one of the brokers on here (its saves you from having to disclose your personal info on a public forum).

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of brendogsbrendogs
    Participant
    @brendogs
    Join Date: 2011
    Post Count: 30

    I’m comfortable sharing my situation on here with like minded people Jamie M. Nearly every user here is on this forum for the same reason and maybe my question may answer someone elses similar situation!

    I don’t know who the brokers are on here, I’m from Melbourne so does it matter if I do it face to face or is over the phone with interstate brokers the same experience and result?

    If anyone thinks they could help me please contact me and share some insight. My email is [email protected] or you could PM or speak through here as I said I’m comfortable with either.

    Regards Brendon

    Profile photo of ksherwellksherwell
    Member
    @ksherwell
    Join Date: 2007
    Post Count: 125

    Hi Brendon

    I recommended doing your own research

    FYI  The Bank of Melbourne and NAB are the most competitive.

    Happy to place you in touch with one of their specialist lending staff.  

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Brendon

    Understand we are all here for the same end purpose but agree with Jamie so things maybe shouldnt be aired in public.

    Jamie is an excellent young broker (maybe not as good looking as me) and can certainly assist you.

    His email address is [email protected].

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    Qlds007 wrote:
    Jamie is an excellent young broker (maybe not as good looking as me) and can certainly assist you.

    Haha, I just read this post – I'll take it as a compliment…..the broker part anyway :)

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

Viewing 6 posts - 1 through 6 (of 6 total)

You must be logged in to reply to this topic. If you don't have an account, you can register here.