Loan Structuring

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

Paul_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
Sooshie
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!
Paul_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
Sooshie
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!
Perky29
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
golfer
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