Hi All,
I’ll try to keep this short! (Which is hard for a writer)So, my husband and i have good equity in our home, we have wanted to get into the property market for some years but figured we needed money!
Now, my mother is in Melbourne (we’re in NSW) and she would love to become a home owner again, my sister lives with her and now that we realise we can do something with our equity, we want to help them (and us) out!
I have been reading about dual-occupancy mortgages and we would consider moving south, but my sister is also eligible for the FHBG and we are thinking maybe we could just help my mother with initial finance and let them re-finance in a couple of years using my sister’s FHBG! (something along those line, i know that is not quite clear)
The home we live in is over 100 yrs old and we would like to keep it even if we do move!
Anyhow, for a writer, i’m sure that was a pile of ramble and i need my editor/daughter here! [
]I look forward to reading the obviously informative discussions on this site and last but not least, for $99 Steve’s buyer beware looks like a great tool and cheaper than some others i have seen, how many people use it?
Sincerely,
Triskl!Hi Trisk welcome to the forum.
Another option to consider,
StGeorg Bank, have a product that would allow your mother and sister to use part of the equity in your home as part security over the new purchase, Your sister could use the FHOG to cover part of the costs,
This would be of more economical benifit, rather than refinancing at a later stage to allow your sister to be on the Title.
Regards
Steven
Mortgage Broker[email protected]
http://www.mobilemortgagemarket.com.au
Ph:1800 820 500
VictoriaPLEASE note comments made should NOT be taken as specific taxation, financial, legal or investment advice. Please seek professional, specific advice.
Hi Trisk
“I look forward to reading the obviously informative discussions on this site and last but not least, for $99 Steve’s buyer beware looks like a great tool and cheaper than some others i have seen, how many people use it?”
I recently bought buyer beware and my intitial reaction was one of disappointment. The templates in particular were far below what I had expected from the advertising. Although I haven’t bought many properties, I have looked at and analysed quite a few, so a lot of what is in buyer beware is not new to me. Also a lot is just extrapolating on the book (0 – 130…..). However, as I worked my way through the book, I did find some pearls of wisdom which, I think, made the purchase worth while. As such (and because the templates are much more nicely formatted than mine and I want to use them), I have kept the pack. It sounds like it will be useful to you as it seems you have not looked at many IP’s, but the fact is, whether or not it will help you depends on your past experience and knowledge and prior reading. This is a risk free investment though as it comes with a money back guarantee. I feel confident in recommending this pack to you.
Regards
judiOriginally posted by judi:Hi Trisk
“I look forward to reading the obviously informative discussions on this site and last but not least, for $99 Steve’s buyer beware looks like a great tool and cheaper than some others i have seen, how many people use it?”
I recently bought buyer beware and my intitial reaction was one of disappointment. The templates in particular were far below what I had expected from the advertising. Although I haven’t bought many properties, I have looked at and analysed quite a few, so a lot of what is in buyer beware is not new to me. Also a lot is just extrapolating on the book (0 – 130…..). However, as I worked my way through the book, I did find some pearls of wisdom which, I think, made the purchase worth while. As such (and because the templates are much more nicely formatted than mine and I want to use them), I have kept the pack. It sounds like it will be useful to you as it seems you have not looked at many IP’s, but the fact is, whether or not it will help you depends on your past experience and knowledge and prior reading. This is a risk free investment though as it comes with a money back guarantee. I feel confident in recommending this pack to you.
Regards
judime too.
Regards [
]
JulianTHERE IS ALWAYS A BETTER WAY!
Thanks Steven and Judi for replying,
I have to start somewhere in this market i guess!
I’ll look into the St. George package for sure!
I feel like a bit of a “babe in the woods” but hopefully within the next 12 months i’ll have a handle on all this!
Is it ok to ask dumb questions here? Cause i’m sure i’ll have a few! []
0-130 seems like what most people find a considerable investment, who wrote it? where can i suss it out?
Thanks heaps,
Triskl!Hi Trisk
“O to 130 properties in 3.5 years” is Steve’s book. You can order it through this site or get it at a bookshop. Very informative and a good place to start. Do a search of the forum boards for some other recommended books. I think there’s a booklist somewhere.Don’t hesitate to ask questions on this forum.
Regards
JudiThanks Judi,
I dare say i’ll have alot of questions!
I’ll go look for 0-130 in town today!
Triskl!
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