Forum Replies Created
Hi Qlds007
Thanks for the response.
Not sure why i would secure the sub loan against the PPOR.
As we haven't yet purchased the PPOR, would it not be more beneficial to draw down the equity from our IP instead?
Given we are trying to put as much deposit as we can against our PPOR, I'd like an option that means no extra money directly out of pocket if possible.
Happy to hear the options and contact you if the above solution works best
Sorry to bring back a thread from the dead, but was wondering if anybody had a more recent experience with Vicki Small from sydney buyers agents.
Also can somebody give a realistic expereince of using a BA in a heated market like we have currently and what (if any) benefit this provided to them.
Thanks
Sorry couldn't see the link to the article? Can you please resend or PM me
Hi
Yes the goal is to pay it off as quickly as possible. But I am interested in the option of it becoming an IP as it is not likely to be our last home.
We are looking for a property for 800K. What I am trying to find out is it is better to get a loan for 800k and leave 250 in offset (assuming stamp duty and reno costs) and pay IO, or a 550k P&I only loan (therefore using that whole amount as deposit and therefore equity).
I am happy to get my pay put straight into offset and only draw for living expenses also.
Bump.
Still looking for a calculator which can show me the benefit of IO with an offsett ac as opposed to P&I payments.
Any links ?
Thanks guys
Does anybody have some calculators/spreadsheets where I could compare the effect of IO offset v say principal and interest
TerryW, tax strategies ? I assume by asset protection you mean setting up a trust.
Send me a PM if you like
Hi
Does anybody have their DVD's that they would be willing to sell cheaply to another investor.
PM me with a price !
Hi Richard
Happy to chat further. Please drop me a PM
Nope, we live pretty modestly. I think his thinking was that we didnt have enough deposit for both an IP and an expensive say 500-600k sydney house.
My thinking was that with current interest rates we could lock away an almost cash neutral IP and then concentrate on our own home. Fixed interest loan would be close enough we think for the rent to almost cover.
We are still thinking terrace (wifes an architect and she loves them) for our own house but the comments above are food for thought.
Dammit, just trying to a) buy our own place and b) take advantage of this good opportunity to invest.
Life wasn't meant to be easy eh
Thanks freelance2020. Any ideas on this as a strategy though?
We are a young couple with one IP currently. We would love to buy another IP whilst rates are low and lock in a fixed term for three years just to see what would happen, then decide in three years if we hold or sell. Out of pocket expense would be minimal. Only problem is that we also want our own home and in Sydney. If we lock all our money into a deposit I fear we would put ourselves out of the chance to own another IP for ages. We beleive the current period is prob our best chance for an IP.
Just trying to think outside of the square and achieve both. We arent concerned which order we do it in.
Any tips from the pro's out there would be greatly appreciated
Sorry call me cynical but it is strange to get recommendations to such an old post from people who have had only 1 post. Care to expand on the details of your purchase and the deal you got from the brokers ?
hbbehrendorff wrote:There will be such awesome deals coming in the future, It really is very excite, I can't wait.You will be able to buy good homes for 200k, land for less then 100k, Office Blocks will be reduced a few hundred thousand and you will be able to buy shopping centres for only 1 mil.
If you really want to make money now you should be playing the stock market every day, And pulling out all your cash at the end of each day.
The volatility in the market the past month has been awesome stuff. You can make a few percent on the market every day !
You could have made 10% on monday in 1 day !!
Seriously mate, please don't litter the posts with this. The assumption is that most investors on this forum are financially literate. Speculating is not investing. More importantly it is not an answer to my question
Thanks Crashy, I appreciate the hopen and honest advice. Too often on the forums people spam/abuse others for simply trying to learn something. All the responses are great and I am thinking my strategy through carefully
I try to do a $100k reno for $25k. I only buy from desperate sellers, and I add square footage to the living area somehow.
If you don't mind me asking, what is your tip/s to do this?
Apologies for mis-quoting but it was Paul Keating who once said ' The only thing that you can bet on is self promotion'.
thanks guys I appreciate the advice
Did I ask a stupid question or has nobody had any sucess in getting a buyers agent to source them a cashflow positive property.
if so, any websites addresses would be appreciated
Hi guys can you please start a new thread for your discussion about cost of surveyors etc. I keep getting post notifications and it is off topic.
Thanks
Yes that was my thinking. The only concern is to have enough money after this to buy our first home.
I just wanted to know if people think this is a feasible option. I assume the property will appreciate in the next 10 years or so. Most properties do to a greater or lesser extent.
I am also not sure if the 50 pw is ballpark for my out of pocket expenses.
I guess the long and short of it. Should I sell this house to buy our own first house or keep it and use the equity to buy our own first house. We are looking at a house price of 500k as our first house also. We want to live in the Wollongong region. So can we afford both or should I just sell ?
Sure
My problem lies in that the representations were verbals from the salespeople. I dont think we have anything in writing that said when the settlement would occur.
Any solictors online who can tell me if I have a leg ot stand on ?
