Hi murmur,
If you have additional security or equity quite a few lenders will do 100% or more finance.

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“Is it true the more you owe the more you grow until the bank steps in?”

Hi Forextrader.

There are no real restrictions but the lenders do have different criteria. You don’t necessarily need a larger deposit but it does help. I have had 110% finance whilst applying from o/s. One of the biggest hassles is that the contracts if signed o/s need to be witness / certified by a JP, Consulal General (CG) or someone with…[Read more]

Hi Alan,
I will assume that you live near the IP you are managing. For investors who are o/s or have IP’s interstate, I think it is easier to have a property manager.

Hi Scampush,
As Mel said this topic has been well discussed. What hasn’t been discussed to my knowledge is having a relative do the PM. I would suggest not involving your sister…[Read more]

Hi OzpatinQ8,

As an o/s investor myself I have found this is common amongst the lenders. I think it may have a little to do with how far they can check your income. Generally people who are working o/s normally finish their employment and move on so there is a higher risk for the bank as well(quote from lender at which bank). You may want to…[Read more]

You could try this method. You find cars that are an absolute bargain just like some houses. You borrow the money through a lender and then resell the car at a higher price to cover all costs with extra left over. Now you do this 5-6 times and with the extra money you have made you buy yourself a new car.

Does anybody know if you can purchase…[Read more]

Hi Mel,

I reread my post and should have phrased it better. When I was referring to the Tax man that was in regards to the folowing if you have the unfortunate circumstance of being sued, the person suing you should see that there is not a whole lot of equity available to them, esp after selling costs etc. are taken out first, so they may just…[Read more]

Hi Mel, Will lenders allow this or will they see it as an unnecessary risk? Also would this include the tax man? Finally, if you had equity in an IP could you take out an LOC and use this as deposits for the IP’s the trust buys and also use the IP as security?

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“Is it true the more you owe the more you grow until the bank steps in?”

Hi Sala, The one figure that is missing is the value of the equity in the IP. In regards to untouchable money. If you give money or property away it looks suspicious in the eyes of the courts. If you make bad investments or spend money foolishly it is difficult for the courts to hold this against you. The idea is to buy something from someone…[Read more]

Hi Limits,

Serviceability is what you need to address. If your thinking of buying a property see if you can add your personel debt (if the interest rate is high) on to the cost of the property. Some details of how much you can afford to repay each month/week, location you are looking at and type of residence( house or unit), should help get the…[Read more]

Thanks Terry, I will check this out more later.

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“Is it true the more you owe the more you grow until the bank steps in?”

HI KADAB1,

What costs were involved in releasing the security on your home and who paid for the valuations on the IP to determine the increase in equity? What was the approximate time frame to do this and did you pay any extra towards the IP to increase the equity to do this?

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“Is it true the more you owe the more you grow until the bank steps in?”

I don’t want to retrain the new manager so I’m converting to a mortgage broker.

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“Is it true the more you owe the more you grow until the bank steps in?”

God creates man, man creates money, money destroys God and man, money is left Wasn’t this in a movie somewhere?

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“Is it true the more you owe the more you grow until the bank steps in?”

I thought it was a combination of savings, credit history, reputation and past ventures until I met the next person and it all changed.

Craigc, what happens if your manager changes? Do you spend another 7 yrs training the new one?

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“Is it true the more you owe the more you grow until the bank steps in?”

Hi Peter, The urgent and important is where the whiteboard comes into use. It’s big, noticeable, doesn’t get lost and cuts down on a lot of little notes and paper work.

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“Is it true the more you owe the more you grow until the bank steps in?”

Hi wrxboy, If your not having any problems now and the CoC is ridiculous then hang on to the ones you think are best and maybe sell some others, do some reno’s and fix the potential structural problems. Also welfare recipients need housing also and if their not causing you any problems and the rent is being paid no problem there. Your post…[Read more]

Okay, are there any reno’s out there that can do a cost comparison and find a way to bring Deborah’s costs down? Have you thought of refinancing and using some of the equity to do the reno’s. Now we need a broker and an accountant to jump in and help with refinancing and tax options.

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“Is it true the more you owe the more you grow until the…[Read more]

Hi F&B, CraigC, Most banks have a similar product and it has various names such as wealth package(which bank). I think the initial amount to be owed is 250K and can go as low as 150K, before the package cancels out. What happens after that I don’t know? Maybe one of the brokers here can shed some light?

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“Is it true the more you owe the…[Read more]

Hi Deborah,
A few questions too get a better understanding of the situation your in. How many units are there in the block? How much are the expected costs for carpets and building works. Are these being instigated by the body corp or you? What time frame do these repairs need to be carried out in? On the limited information so far I think…[Read more]

Hi australia, no experience with this company just a couple of questions for you.
How long is the initial lease or guarantee for and what are the break clauses they can exercise if they want to?

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“Is it true the more you owe the more you grow until the bank steps in?”