Hi Benstone,
Depends on who you are targetting as a buyer. Is it in a well-to-do suburb, or lower end of the market?
An investor will go for the extra bedrooms if they can have doors that lock and put in 5 students or whatever.
A family of 4 will probably like a bigger room.
Ask at the REA’s and see what is selling well in the area and then you…[Read more]
Banks here will lend up to 80% on residential property, over that they will ask u for Lenders Mortgage Insurance…Costs a few grand, but can be cheap if the deal on the investment Real Estate is right! Just ask a home loan lender at your Bank, they will tell you all the figures.
goosehead wrote:
Hey guys,This $3000 fee is that for the finnancial plan as apposed to just approaching them for refinancing? What other Planners have you approached? I have had 1 group approach me over the phone that have some good ideas but I have not had a chance to research yet any one else been in this situation? They have a similar st…[Read more]
Brendan Irwin wrote:
i would like to buy a property with 2 other friends. The banks and other lenders want a 20% deposit. We are unable to come up with this amount. We have negotiated a good price for the property but we need someone who can finance it for us. Is this possible to be done under a wrap? And is there someone out there that can help…[Read more]
seank wrote:
hi,Also a critical question I ask if anyone can help , which suburbs will benifit from the proposed motorway upgrade/ bypass, and which suburbs may lose value???any help appreciated
Hi sean,The suburbs to benefit will be those next to the motoway and one suburb further away, along it's whole length. Just be careful about noise when…[Read more]
Hi Pirate,I think you need to have some practical questions to ask any broker/financier.eg Do they have their own Company, explain company tax rules ? How long has the co. been running? What formal credentials do they have in the Finance Industry?Also, get them to explain to you what the differences/weaknesses/strengths are for setting up…[Read more]
Buy a copy of HomePriceguide (better than RPdata, I think) of the last year's sales for the area to see what actual price you can get for a sale. Don't just take what the agent(s) tell u. Once u have the report (cost about $50), map out the kind of townhouses (eg 3bed, 2 bath) that you are thinking of building and go and take a look at them from…[Read more]
duckster wrote:
Some lenders have a scheme where you can transfer the loan to another property when you sell your development and are buying another same priced property as the loan security at the same time. So you are not closing the loan just changing the security the money is secured against.This is know as substitution of security see…[Read more]
Terryw wrote:
Bank West's exit fees on some products are only $300 (approx).There may also be the opportunity to keep the loan open and just switch securities – but this can be a lot of mucking around.
Great ideas. Thankyou very much.Thx for the lead on Bankwest…Shall look in to them.JB
NonnieE wrote:
Thanks JB. I am considering it seriously and appreciate your comments. We have already used them for brokering to refinance, so thats a start. Did you get them to do a financial plan for you and if so do you find it useful?
Yes, the Financial plan came with it. It was OK. We were shown how we could re-structure loans, whic…[Read more]
My wife and I have been with Destiny for just over a year. The guy who leads our section is very knowledgeable (to us) in property, always willing to help and guide.The real benefit comes from the Focus sessions, where as the name implies, other would be property investors gather together to learn and share stories under the guidance of our…[Read more]
<<<<Whilst saying this there are a number of key reasons why Adelaide and Brisbane will continue to see signifigant growth.>>>Hi Mark,What would u think the "Number of KEY reasons" are for these two areas, as opposed to say Sydney/Melbourne/Darwin?Thx,JB
What about Alberta, Canada, where the oil and tar sands are.
Places are BOOMing there. Seems like mining towns are going crazy lately…Must be the China syndrome.
This resulted in an ungeared IRR of 9.02%; before tax geared IRR of 13% and after tax geared IRR of 16% at eh end of the 10 yr investment period. However at no time throughout the 10 year investment period did the property return +CF so the IRR was based solely on the capital growth aspects of the…[Read more]
<<<If anyone can shed further light on this and re-affirm that I could buy-and-build or buy-and-subdivide, even with a loan on this basis, that would be so helpful……or even buy-and-renovate.>>>>
Pls be careful not to bite off more than you can chew. Read Steve’s books and also books by Jan Somers and Margaret Lomas before getting in too…[Read more]