Walking to run replied to the topic Increasing borrowing power through higher income formulae in the forum Finance 9 years, 2 months ago
Thanks Richard that’s enough to go on
Walking to run replied to the topic Increasing borrowing power through higher income formulae in the forum Finance 9 years, 2 months ago
Thought I’d bring this back.
If rent is at 80%
What is likely for second provate business. Like say I start a hire company and make $10,000 per year and keep my main job. Is that $10,000 assessed similar to my main employee job or is it like so many business owners who struggle for loans.
Walking to run replied to the topic My first step to investing in properties in the forum Finance 9 years, 4 months ago
Hi reiya,
Welcome here and yes its overwhelming. First of all, if you have a loan in both of your names that will probably be the biggest hurdle to overcome. I may be wrong, and i am happy to be corrected but this is probably going to slow you down. See what a broker says but in my experience it means you each own 50/50 but owe 100/100. Im hoping…[Read more]
Walking to run replied to the topic PPOR becoming an investment property and maximising interest deductibility. in the forum Creative Investing 9 years, 4 months ago
Im not sure about your question but dont forget cgt, may look sus if done in a way they dont like
Walking to run replied to the topic Subdividing or dual occupancy in the forum Value Adding 9 years, 4 months ago
Thanks everyone, what i didnt know was selling the old house had no cgt, why was that?
Walking to run replied to the topic Changing Property Managers? in the forum Help Needed! 9 years, 4 months ago
Its a piece of cake, i did it and told my old guys to eat the sh.t theyd been giving me themselves. You dont need to do much, the new agent will take care of it for you. My new guys were better and cheaper, wish i did it earlier.
Walking to run started the topic Extend like a subdivision that isnt in the forum Value Adding 9 years, 4 months ago
Has anyone had any experience with extending a property loosely to meet approval or get around a problem?
I was thinking that if i cant subdivide i may still be allowed to make a large extension, but its all new ground so for ost intents and purposes its more like a new home. Would it likley be ok if the existing house were joined by an alfresco…[Read more]
Walking to run started the topic Can i use housemates to improvement serviceability and borrowing power? in the forum Help Needed! 9 years, 4 months ago
Hello everyone, it has been a while since Ive been on here, I always love the helpful advice I get, and sharing ideas is great. So, back to the time to buy PPOR dilemma and how to handle it. This one is probably best for the brokers.
So, we all know its better to rent than own generally, in that it affects our borrowing power, but what if i had…[Read more]
Walking to run replied to the topic RBA Cash Rate Drops 25 Basis Points in the forum General Property 9 years, 9 months ago
Remember the first part of the return to boom on the property clock as in 1 o’clock is fear of a another crash.
Walking to run replied to the topic Help on my commercial investment strategy in the forum Commercial Property 9 years, 9 months ago
Sounds like you know a fair amount. Keep talking and learning but ask people who have commercial property not just residential. Good luck.
Walking to run replied to the topic Now an ok time to sell in Melbourne City fringe in the forum Help Needed! 9 years, 9 months ago
Hello Isabel,
Nobody will be able to answer your question without shaping it better. Why sell? What is your goal? This kind of thing. Will you make money, will you lose less money? I think with some research you’ll be able to answer your question best, you will know what you want. Start here
http://www.realestate.com.au/neighbourhoods
Good luck.
Walking to run replied to the topic Breaking into the Market Vs Bad Debt now that we are back on track? in the forum Help Needed! 9 years, 10 months ago
I agree with bangers.
Sure you have manoeuvred well with min payment on 0% and 3% interest on saving. Look into UBank highest interest.Anyway, you’re fighting well, but after that credit card you owe tax money. They’ll let you pay in instalments but it won’t be free.
I know you want to invest but the skills you will gain paying off the debt…[Read more]
Walking to run replied to the topic Breaking into the Market Vs Bad Debt now that we are back on track? in the forum Help Needed! 9 years, 10 months ago
*not able to borrow too much for loans.
Walking to run replied to the topic Breaking into the Market Vs Bad Debt now that we are back on track? in the forum Help Needed! 9 years, 10 months ago
Read the total money makeover. Unless you can get a deposit and costs together, make an investment pay more than your debt, you’ll never be even. For example If you have even a low 11% credit card on $100,000 what will it take to get that kind of growth in a property? Probably easier to pay stuff down right now than save a deposit. It’s really…[Read more]
Walking to run replied to the topic explaining positive gearing a little simpler? in the forum General Property 9 years, 10 months ago
Hello Calderan,
Don’t be embarrassed.
To make it really really simple. Imagine you have a business.
Calderan properties. Think of your mortgage interest and other costs like insurance, management fees as your costs. Think of rent as your income. When your business is making money it’s positively geared. If you are not earning as much rent as…[Read more]
Walking to run replied to the topic Mortgage held with ANZ, using property equity to borrow with NAB – legit?? in the forum Help Needed! 9 years, 10 months ago
Piggy back to this.
I often wonder how the loans work on this. I have yet to do it.
House A. $500,000 value $250,000 owed. $250,000 equity. I reuse $100,000 for property B deposit.
House B. $500,000 value $400,000 owed.Am I paying interest in that $100,000 equity that I assume is a line of credit or similar? If so what’s my total net…[Read more]
Walking to run replied to the topic Split Loan Vs Joint Loan ?? in the forum Help Needed! 9 years, 10 months ago
Terryw on this forum will probably have the answer for this but it sounds like an issue for future loans
Let’s say it’s $400,000 loan. You’ll be seen to be responsible for $400,000 with only $200,000 equity. Sounds to me like you’ll have more trouble getting future loans. You can get an agreement where the loan doesn’t show it but you both own…[Read more]
Walking to run replied to the topic Subdivision and build 3 units? in the forum Help Needed! 9 years, 10 months ago
Consider your loan also, a mortgage broker will be able to comment here but I think 4 properties is the maximum you can build on a normal 95% LVR, there are more available for 3 buildings I believe. Otherwise construction loans are 70% LVR or in that kind of area.
Walking to run replied to the topic First Investment Property in the forum Help Needed! 9 years, 10 months ago
Guzee,
On this forum people will always say
“It depends. We need more detail.”
Your post will get this kind of response if any. That’s ok it’s your first go.
I don’t know SA so I can’t tell you much but why SA? You can invest anywhere you can afford. If it’s SA then what is it you want? Don’t say maximum growth and maximum rental income.…[Read more]
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