Andy started the topic Borrow or draw down equity from home in the forum Help Needed! 6 years, 9 months ago
Hi. I set up a trust as a way of investing and reducing tax (I work, my wife doesn’t) and intend to purchase an investment property in this trust.
Question – should I draw equity from my home to loan to the trust to buy the property without debt or borrow from a lender to buy the property? By the way, I don’t intend to be a serial property acq…[Read more]
Andy replied to the topic Vendor Finance in the forum Help Needed! 9 years, 5 months ago
Thanks for the question.
I’m hoping to get some information to better understand another option. Plan A is to buy and hold for the cash flow.
I’d rather understand more options to make better decisions rather than only follow one path because that is all I know.
Andy started the topic Vendor Finance in the forum Help Needed! 9 years, 5 months ago
Hi,
I am currently reviewing an investment property to purchase (CF+ investment).
The agent advises that the tenants are long term and actually looking to purchase the property but don’t have the deposit required.
Is this a good deal profile to offer vendor finance? How much does it cost to set up?
The property is offered at $150k and the tenant…[Read more]
Andy replied to the topic Bought a house – feeling like I mad a mistake in the forum Help Needed! 9 years, 5 months ago
Suri – I am no expert so bear this in mind with the way I think.
What is your ability to service the loan for this property? It would seem that choices you make would be dependent on your circumstances.
If the monthly net holding costs of this property put you under a lot of financial stress then you might plan with a bias towards a short term…[Read more]
Andy replied to the topic Landlord insurance…. in the forum General Property 9 years, 8 months ago
This is really helpful, thank you Dean!
I am right now looking in to the numbers on a new IP purchase and what I can get from an AAMI on-line quote for $1500 is about half price on this (subject to me looking in to the fine print at the moment which I will do later today).
Cheers,
Andy
Andy replied to the topic The Next Step in the forum Help Needed! 9 years, 8 months ago
Thank you Jess, that’s an interesting way to look at it. Will review my finance options both ways.
Andy
Andy replied to the topic The Next Step in the forum Help Needed! 9 years, 8 months ago
I’m interested in this line of thought as I’m about to buy a couple of IP’s. I thought if I went lower than 20% deposit I would have to pay for mortgage insurance? Is there a way around this or am I just misinformed?
Andy
Andy became a registered member 9 years, 10 months ago