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  • Profile photo of cabramattcabramatt
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    @cabramatt
    Join Date: 2011
    Post Count: 13
    June 3, 2012 - 9:51 am

    Thanks everyone for your replies!!!!! It was very helpful!!!

    Profile photo of cabramattcabramatt
    Participant
    @cabramatt
    Join Date: 2011
    Post Count: 13
    January 8, 2012 - 12:31 am

    Thanks everyone! Your opinions have been very helpful. I've pretty much decided not to waste time going.

    @ Catalyst : the website is: http://www.growthandcashflow.com/first200/.

    Profile photo of cabramattcabramatt
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    @cabramatt
    Join Date: 2011
    Post Count: 13
    January 6, 2012 - 5:50 am

    ok. Thanks guys!

    Profile photo of cabramattcabramatt
    Participant
    @cabramatt
    Join Date: 2011
    Post Count: 13
    December 21, 2011 - 5:58 am

    Thanks Terryw! Becoming clearer…

    As you can see I am a novice and property jargon is all new to me but thanks for your time in answering the questions.

    May I ask what is a LOC (Line of Credit?) and how does it work? I've read about it in some articles on property but dont really know how it works? Is it just another fancy term for a loan?

    Profile photo of cabramattcabramatt
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    @cabramatt
    Join Date: 2011
    Post Count: 13
    December 20, 2011 - 10:02 am

    Thanks but I'm about I ask some more dumb questions and confirmation on my ignorance:

    So just to confirm point 1 that you made Richard, with the 100K equity only loan securitised against the PPOR, the bank can only take possession of my PPOR if something goes wrong and not my new IP?

    What I'm still confused about is if I take the $100K equity because the equity is from my PPOR, isnt that using cross-securitisation? So, whenever you take out equity aren't you in effect cross-securitising because the equity comes from your previous house?  Or does equity have nothing to do with cross-securitising?

    Or do you mean that with the initial $100K equity only loan, I have securitised it against my PPOR, BUT once I pay that equity loan down then the securitisation has been released and the banks can no longer repossess my PPOR if something goes wrong?

    Or is it cross-securitisation when I borrow the complete $420K with one lender (where$100K is from my equity on the PPOR) to buy the new IP? So if I default then the bank can repossess both my PPOR and IP?

    I hope my questions make sense… 

    Profile photo of cabramattcabramatt
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    @cabramatt
    Join Date: 2011
    Post Count: 13
    December 20, 2011 - 9:41 am

    DOH! I was hoping there would be some kind of extension application I can apply for since I am not renting out any of the houses.

    Thanks!!

    Profile photo of cabramattcabramatt
    Participant
    @cabramatt
    Join Date: 2011
    Post Count: 13
    December 20, 2011 - 5:29 am

    Thanks for your reply Richard and for the articles. Very inspiring too!!

    I'll certainly be considering these factors and will probably have lots more questions to ask once I start the investment journey.

    Merry Christmas and Happy New Year!

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