Thanks Montrose i think that answers my question[]

Regards Bear

Thanks Milkman for the adivce!

How does one protect ones other assets?

Regards Bear

Also make sure you separate (protect) ALL of your investment properties as other properties may be taken to cover additional legal/closing costs for the Bank.

Good Luck.

Milkman.
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Thanks for your input picja

The Auctions for the properties im looking at are on 14 oct. If other properties come up in the meantime i wana be ready to purchase asap

Regards Bear

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This laon should be no problem with equity in your own property for deposit.

The post codes are fine by GE LMI, so can borrow up to 90-95%LVR

Even with a non-conforming lender they are fine – 90%LVR

Sounds easy to me.
I don’t see the problem.
How soon do you want the property to settle?

[email protected]

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Thank u for your reply Simon

I agree that is the ideal situation. I own my own house outright but coz i have been self employed for so long and currntly on a carers pension its not that easy to obtain. Mind u i have never had a late payment on any loan but that dont seem to come into it.

Regards Bear

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Why can’t you borrow on the properties? If it is postcode then you need a lender who isn’t fussed. There are major banks who will do any postcode.

Ideal situation is to draw 20% deposits from your home and borrow 80% against the IPs.

I am sure Mel or Picja can help out if you contact them!

Cheers,

Simon Macks
Mortgage Hunter
[email protected]
0425 228 985

Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

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Arty

I sympathise with your situation. I to have been burnt as I would think most of us in the forum have been burnt in some way in the past wether it be an Ex partner oo professional encounter.

My words of wisdom are quite simple. Its the harder things in our lives that change our direction and if we are prepared to look at the road ahead rather in the rear vision mirror all the time we go to where we are meant to be even if we didn’t know we were meant to be there.

In other words sometimes it takes something bad to happen to make us change our direction in life for a better life.

The lowest points in our life’s can be our greatest gifts.[]

Regards Bear

Thanks Westan for your advice we must be thinking along the same wavelength, as Whyalla and Port Pirie is where I am currently concentrating but still haven’t had much luck with the formula. I have also contacted the appropriate Elders office and believe it or not I am told they are all away sick…… Port Pirie is one place im told im 12 months too late. I wont give up ill just keep plotting along. Thanks again for every ones input. Sometimes we just need to hear we are on the right track when 1st starting, and it certainly seems with the feedback that I am.

Regards Bear

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yes mini you are right
i know that last year i was buying houses (in Millicent SA for 50k)and people were saying you could have bought them 10k cheaper 12 months ago. since then they have gone up 40k.
i’m not saying to you you should buy, but i am buying myself.
Be careful how much you take notice of realestate agents. they aren’t investors themselves (most aren’t) most don’t even own 1 investment property. so don’t take investment advice from them, weigh up what they say but they are only real estate sales people. occasionally you meet some switched on ones.
As for as trust homes go check out Elders they have the contract to sell trust houses in SA outside adelaide (they auction them). If i was buying in SA now i’d be checking out Whyalla. i know they had cheap houses a while ago.
westan

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