Hi Chris, my understanding is that you are the buyer and now you have to deal with an agent. Just put your plan forward to the agent who must show it to the seller. Secondly drop a copy off into the sellers letter box. Wait 1 day and then contact the agent to ask what the seller thought of your proposal. Then check with the seller and confirm…[Read more]

Hi Robynhood, my opinion is that the 2 most important parts is time management and one area that is designated as the investment area( table, computer desk what ever. No paper work is taken out of this area and read else where(in front of TV, at the dinner table or in the toilet) I use a simple filing cabinet broken up in to property and each…[Read more]

Yes, the same property can be used as security for different loans and properties. Most of the lenders have different criteria on how many times you can use the same property and it can also depend on how much equity the property has. My understanding of this is limited and maybe one of the brokers on this forum can explain it better for…[Read more]

Yes.

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

Hi Phil, don’t worry post taken in jest.
I think ACTandy’s idea has merit, but don’t know if anyone would actually do it.

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

Basically it’s when the lender ties up the properties together as security for each other. Example your PPOR has equity but is used as security for your IP’s. The banks love doing this.

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

Hi F&B I think the difference between using the equtiy and getting LOC is that the LOC can be used without tying up the property as security. When using the equity you run the risk of cross-collaterlisation a mistake I’ve made in the past. I’m sure others can explain it a little better.

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

Hi annaw2, If you were able to purchase other IP’s couldn’t you have refinanced and put more money in to increase the equity whilst lowering the repayments and making it+?

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

Hi Phil, Maybe you’re thinking a little toooo small. What about a whole state or even a country? The opportunities are endless?

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

Hi Terry, Would it be worth while transferring a PPOR into a trust if it’s CGT free?

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

Hi Carmel, What is your time frame before you retire, do you own the IP debt free and do you own your own home? You need to explain a little more to get the type of advice your looking for.

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

Hi Mel, I’ve recently been in contact with someone and are heading towards using a broker on my next deals.

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

In regards to bills I find it easier to do as much direct debit as I can. This is basically because I’m o/s and not always able to access a computer to do internet banking. I also try to do scheduled transfers of money to various accounts from one main account so that I always know there is something going in and not everything going out. I…[Read more]

Hi Sala55. Depending on how hard you want to play there are other options. I don’t know how far through the proceedings you are but remember she owes half of what you owe also. You have equity then reduce the equity. You need to juggle some figures to show that the only option is to maybe sell everything and both receive a small return or…[Read more]

Hi Deborah. If you put a little more detail about what you exactly want to do, you will probably get a lot of good free advice here on the forum. Restructuring of finances is a little vague and needs more information, for example, refinancing of IP’s, buying shares or investing in other areas, trusts, taxes, etc.

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

Hi F&B, If your dealing with lenders in some outer regional areas they do get transferred around. I think my lender has changed personel 4/5 times in the last 3.5 years, that I’m aware of. When I finally have everything sorted out I will post it on the forum. I think some people will find it interesting. It made me realise just how important…[Read more]

Hi, Some PM do a good job and some don’t. As an O/s investor I need one. My last PM was a bit slack but a quick phone called to the previous PM same office and everything was sorted out. I think Erika’s idea of playing on the floor with the little one is better, than say handing over an eviction notice to a single mother with 2 kids and one on…[Read more]

Hi F&B, We meet again, so to speak. One of the problems I’m finding with doing this is if the personel at the lending institution changes. For example, I set up a situation with one person and when his replacement took over everything continued as before, then another replacement came and he disagrees with everything the last 2 have said and…[Read more]

Hi, It is possible to get 100% finance and more to cover all costs. This is done through using current equity and then using the same property as security for the IP’s. BUT be carefull. I did this and obtain 2 IP’s, although it suited the purpose at the time it doesn’t suit the purpose now. I got stuck with cross collaterisation of properties…[Read more]

Hi Melbear, What are your approx costs of refinancing, and what would you do if the valuation is less than the previous one or still the same? Do you pay for the costs of refinancing or is that included in the new loan you take out?

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