Thanks Millsy,

He’s situated perfectly for me if I end up purchasing in hamilton… thanks again.

Alex

Take action, don’t say without doing! [email protected]

Cheers guys,

I’ll get right onto that literature now.

Thanks again[strum]

Alex

Take action, don’t say without doing! [email protected]

Thanks Nobleone

I’ll get in contact with hime when we’re ready to go ahead with things. Lots of help, cheers.

[strum]

Alex

Take action, don’t say without doing! [email protected]

Thanks Steven,

a very straight forward answer, I appreciate that.

There was osme good information from Kiwiproperty in that thread as well,

cheers,

alex

Take action, don’t say without doing! [email protected]

Thanks for your input, I appreciate it.

They’re good three q’s to ask [biggrin]

cheers, Alex

as I work for the bank, probably 1% difference. allowing me to have approx 8% int rate for the personal loan

I realise for others this may not be the most desirable int rate for money used as a deposit.

Getting back to the original question, by the sounds of it this is not a regular practice that you’ve used or seen used?

Originally this was…[Read more]

as I work for the bank, probably 1% difference.

I realise for others this may not be the most desirable int rate for money used as a deposit.

Getting back to the original question, by the sounds of it this is not a regular practice that you’ve used or seen used?

Originally this was put to me as a way to purchase the first property because you…[Read more]

St George (and ANZ), I believe, have a product called the get set loan: a personal loan at 12.2% with a Max of $50k which is allows the customer to draw on the funds and make a minimum I/O payment on only the funds they use. There is no term on the loan as it is a line of credit. Whatever funds you draw on are the funds you incur interest on.

I…[Read more]

the personal loan is a line of credit loan at 8% unsecured. You’re right though, a line of credit at 6.5% would be more effective, however it needs to be secured against something, this loan is not.

This allows me to use it for the initial deposit for such properties like commercial which need a larger deposit due to less LVR.

Is what you’re leaning towards: forgetting the personal loan altogether and focusing on each property seperately, therefore extending the loan as far as you can take it over the equity of each seperate property??[blush2]

1. Personal Loan is just as competitive as home loan int rate as I work for the bank, probably 1% difference. This then allows me to have the main part of the home loan as a st var, I/O or P&I, while maintaining the overdarft as the source of deposits.

2.Having the money paid off the home via the personal loan allows me to free up equity for the…[Read more]

Thanks guys[^] Lots of help, I’m seeing the accountant in the next week or so… will raise the same questions with him. We should always seek the right advice in correspondance to what we want to achieve.
Some of you mentioned the fact that you can’t halve the CGT, there are also many other tax and income advantages with a company based on the…[Read more]

Originally posted by kaloni:
Originally posted by Leswon:
WOW!!
These people must be on MASSIVE wages to be able to afford this kind of rent. I’m probably talking more then, about the people on an “average” or should I say “Low” wage. Many people only bring in around $400 pw as a wage!
Les[]

I live in Malvern Vic
rents for a 3br house start at…[Read more]

Cheers Scully, lots of help….[^]

Cheers Simon[]

Scully, wuold you look at getting another valuaton in such short time had you only done a minor amount of work on the property, ie Paint job and small restorations in order to raise property price. Obviously it will depend on the house itself whether you think it’s worth your time and money… what I’m getting at is how relevant do you think think…[Read more]

Redwing made a really good point earlier: If we all Watched every dollar we spent, we’d be a whole lot better off. The silly things which we don’t even think about become the items we lose the most money to. These are the things which (If we saved the money) would become the cash for the next deposit. That’s one thing I make sure I keep in mind…[Read more]

Cheers guys.[^] on the topic of re-valuations, many banks/lenders I’ve heard have an issue with re-valuating a property within six months of their last valuation.
What can you do to hurry this process up when in need of freeing up equity??[?]

None of the properties I’m sourcing at the moment are from my home town. Sydney is a very hard city to find +ve cashflow properties (I will never say that it is impossible, nothing is[}]) and for those looking to purchase in Sydney for CG we were the lowest in growth last year and are predicted to be this year. I’m finding good yields about 3-5…[Read more]

By increasing the property value, you increase your borrowing power.
Instead of resting on my example, lets throw around a couple of better ones. that was the idea of the thread, not to get caught up on one example.[^]