Total Members: 159,208

Chris89

  • Chris89 replied to the topic Bought a house for $22,000 in NSW in the forum Help Needed! 12 years, 8 months ago

    Hi Engelo10, other than the very low purchase price, what are the positives?14% population decline in the areahigher than normal amounts of properties for salegranted 0.2% vacancy rate, but that is because there was one property for rent, 2 rental vacancies brings the vacancy rate to 1%And the only rental property up for rent has been on the…[Read more]

  • Chris89 replied to the topic Small unit in the forum Help Needed! 12 years, 9 months ago

    Thanks Richard :)

  • Chris89 replied to the topic Small unit in the forum Help Needed! 12 years, 9 months ago

    Nope, they aren't serviced apartments JacM.Thanks Jamie, do you see any negatives from from this sized unit? Or anyone else for that matter :)Thanks for your responses guys!

  • Chris89 replied to the topic Have I got this right? in the forum Help Needed! 12 years, 9 months ago

    Thanks Jamie, I assumed as much.

  • Chris89 replied to the topic Have I got this right? in the forum Help Needed! 12 years, 9 months ago

    so given the above example, taking the rent into account (using the ANZ calc) I would have a new wage servicable salary of 63, 652 to use for a new loan?Thanks Richard, I cut alot of corners and over simplified the scenario so I can understand how equite and rental income work with borrowing capactity.To summrise, equity is unrealised cash and…[Read more]

  • Chris89 replied to the topic Have I got this right? in the forum Help Needed! 12 years, 9 months ago

    Hi JacM, cheers for the response.Im more throwing around numbers, speaking hypothetically trying to understand how these few things work.I want to understand it as well, rather than rely on someone else to make all my decisions for me.Thanks though!Chris

  • Chris89 replied to the topic Have I got this right? in the forum Help Needed! 12 years, 9 months ago

    Thanks for the reply Richard.I was reading a book and it said the banks will only take 80% of the equity in your property, hence the 30k equity I added onto the borrowing capacity, which as you said doesn't increase it.I guess what I was asking was after the above workings out would I be able to purchase a property of up to 312,000, assuming the…[Read more]

  • For that I would be comfortable but still not 80% of the purchase price, more like 12% or so. Thanks for the advice Jamie.

  • Thanks guys, there is no body corp as it is only 2 units on the block. I will look into this further :)Correct, I probably shouldn't of posted the address. With that said im not necessarily in the best posituion to invest, so im not too phased as to whether I putr an offer in or someone else purchases.I think more what I was asking is if this…[Read more]

  • It is also worth mentioning that the town has a bypass highway

  • Chris89 replied to the topic First home – PPOR vs Investment? in the forum Help Needed! 13 years, 1 month ago

    Thanks, shot you an email

  • Chris89 replied to the topic First home – PPOR vs Investment? in the forum Help Needed! 13 years, 1 month ago

    Thanks for that Jamie, was helpfulShape: Thanks for your insight, regarding the interest rate increases you mentioned, that would have thethe same effect whether it was an IP or PPOR. In that situation you would be better off with the IP, as it is bringing in renting, therefore making repayments easier correct?But I understand where your coming…[Read more]

  • Chris89 replied to the topic First home – PPOR vs Investment? in the forum Help Needed! 13 years, 1 month ago

    Interesting, thanks for the reply Michael.Im currently living in Melbourne by the way, so I have worked out that I would be paying back $384 a week with an interest of 7.1% on a loan of 280k or there abouts. Which is why I have thought of buying an IP in Tas possibly before I by a PPOR in Melbourne.I see where your going with this :) it would…[Read more]

  • Chris89 replied to the topic $70k to spend, buy 1 or 2 properties? in the forum Help Needed! 13 years, 3 months ago

    Hi Jamie,If you go for a higher LVR loan, say 95%, will you miss out on any type of features than an 80% LVR will give you? Such as, maybe having to have a higher interest rate, having to have a P & I etc?

  • Chris89 replied to the topic What some requisites you use when buying a property? in the forum Help Needed! 13 years, 3 months ago

    Thanks for all your help guys !! Just a few more questions if thats ok?What I stated regarding finding a property that will have good future growth, is this correct? I know nothing is certain, but would what I said give a higher chance of a good capital growth over x number of years? And is there anything else that you should be looking for in…[Read more]

  • Chris89 replied to the topic What some requisites you use when buying a property? in the forum Help Needed! 13 years, 3 months ago

    Thanks JacM.Is as simple as checking the price of a renovated property and unrenovated property in the same location / pocket of the surburb via realestate.com.au?Chris

  • Chris89 replied to the topic What some requisites you use when buying a property? in the forum Help Needed! 13 years, 3 months ago

    Nice one Jamie!What specific things do you look for with your strat? Do you look for slightly dated appliances / kitchen / bathroom / wall colours etc or is there a lot more to it?

  • Chris89 replied to the topic Am I able to get a loan? in the forum Finance 13 years, 3 months ago

    I am PAYG and have been in the same industry over the last few years. Thanks for your help Richard!

  • Chris89 replied to the topic Free Newsletters and book recommendations? in the forum Help Needed! 13 years, 4 months ago

    Thanks Jamie, I have actually had a look at your FB page and the website. Very informative information. Thanks for your help again!!  I liked your FB for you a couple of days ago as well. Congrats your the place you have just renovated, I had a look at the pics and it looks great!Chris

  • Chris89 replied to the topic Business issue – please help! in the forum Legal & Accounting 13 years, 4 months ago

    Yes, seperately.She wants to get out but the other partners want to stay in the business.Thanks for all your help Terry, much appreciated! I will pass the info on.Thanks again :)

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Chris89

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