Forum Replies Created
Will do……I know that is the obvious thing to do.
Thanks for all the comments, I really appreciate it!
Nic
The contract had "subject to finance" – initially, which was crossed out and valuation was inserted. I only realised this once the copy of the contract came through the mail. No other specifics, no nothing! Just the three words……
If you find one, let me know! I can tell you which one to avoid……drop me an email on [email protected]
I live out Gawler way and have recently changed to a new accountant – they are friendly, CPA registered and have great accounting knowledge…..but not so great knowledge on property investments (well, the same as me but was hoping for someone with the extra oomph!)
Nic
Thanks heaps for your responses! Solicitor has informed us that the settlement date will be extended for another month. The broker is on CBAs back, as verbal approval was given two weeks ago……ANZ is good to go as the LOC is through them.
Thanks again!
The settlement date was yesterday 18 Nov 09. Got the paper work for one bank which is approved, still waiting on the second bank, no paper work as yet. You wouldn't believe it the solicitor has also mucked up the tranfer of land.
Nic
Thanks for your advice Richard. I am a bit miffed at the broker we have gone through!
I am probably asking a lot, but could you please send me a RP Report on Chuwar QLD?
Thanks for your reply Richard.
We are looking at the ANZ Breakfree package. The Chuwar property was our PPOR until 2003 – so that is a principle and interest loan (offset account). The Carlton property will be interest only. Should we have gone to a separate bank for the loan for the Carlton property? I have only just sent the paperwork….I can always withdraw it!!!
I guess I don't understand how another lender would be willing to give you a loan if your original loan is not with them ie. how would the other lender use the equity – or rather, have access to it?
Nic
Hi,
I have a question with regards to Equity. Trying to get my head around it!!!My husband and I have a positively geared investment property in Chuwar, QLD (rented out for $300 per week) – bought for $199K, owe $180K – now valued conservatively at $400K. We have just used the equity to purchase a 4 year old apartment in Carlton (MEL) for $260K (rented out for $240 per week) which is negatively geared.
Question, are we able to 're-use' the Equity from the Carlton property to purchase another one? We live in a DHA home in ADL and would like to purchase a PPOR here – to sell in 2012.
Nic
Hi Andrew,
Read Steves 'From 0 to 130 Properties in 3.5 Years' before you go out and buy your investment property (I could not put it down – so managed to read it within half a day!!!).
I have one investment property in QLD (formally the primary residence) and am in the process of purchasing my second in VIC. My regret – I wished I had read the book before signing the contracts on the weekend!!! Steve gives great, valuable advice (and love the humour throughout) that neither my Accountant, nor my Financial Planner has passed on to me – due to ingnorance I hope!
'Rich Dad Poor Dad' by Robert Kiyosaki is also a great read….
Anyway, good luck for your future……it's great to see a GEN Y taking charge of his future!
Nicole
