Colonial do this also.

Hi Shane,

You should start by having a look at how your loans are structured and which lender you want to use. You would need both an accountant and a broker to do this. Then get your properties revalued by a valuer that is approved by the lender aqnd then apply to the lender to have the increased (hopefully) value taken into account when they asses your equity position.

Regards
Alistair

Hi aumeow,

Baycorp Advantage is the company that would hold your credit record. Have a look at their web site and you will be able to work out how to access your credit record.

If you have an impaired credit history you can still get a loan, but the rates are higher. I’m not sure but I think you need a larger than normal deposit also.

Regards
Alistair

Mr Vip,

If finding a deposit is a problem, as long as you are servicable you should be able to get a much better rate than 8.2% on a 100% mortgage.

Regards
Alistair

Hi Jaco,

What is it you want to know? You will need to be a bit more specific.

Regards
Alistair

Muli,

You should take account of the negative sentiment shown towards the property market by some on this forum, as they are definately not the only people with these views. However, you should also consider that there are also always opportunities in any market. If you worry about prophesies that may never come to fruition you will be sitting on your hands forever.

Purchasing a PPOR is also not just an investment decision. Think carefully about the pro’s and cons of purchasing in the current realestate market, and also with regard to your lifestyle. If the decision is that you still want to buy you can even borrow 100% at a reasonably good rate, if you have a good stable income.

Good luck with your decision.

Alistair

Bonnie,

You could try doing a vendor finance deal. This would give you some cashflow.

Regards
Alistair

You definately need to do some due diligence with regard to the number of units you will be able to get onto the land. In addition to Michaels points, you also need to factor in time to get the permits and holding costs.

Town planning is often a slow process, especially if the land is in an area where anti-development groups are active.

You can have a look at the zoning, overlays etc and read the planning scheme for the area at http://www.dse.vic.gov.au

Regards
Alistair

I wish I had a problem liken that. My personal preference would be conservative. I would pay off the loan on the PPOR, if you still have one. I would then park the rest in one or more of the other loans and redraw as other opportunities arise.

Hi s2ss,

If you go over 4 units in a development, you might be forced to apply for commercial finance, which is more expensive.

I quite liked Peter Spann’s book too. I found his “wealthy friend” a bit annoying though.

Regards
Alistair