Terry, you were the expert until the last post :) I went bankrupt from 2011-2014, I lost the one property in my own name, the other 5 were not touched as they were bought in a trust so have to disagree there as I’ve been through it. Liquidator was worrels in Brisbane. But anyway, to make a video like that , maybe 6 hours script writing, 1-2 hours shooting and then about 7 hours editing… add another 40 minutes if I got to trim a bit for the firsT time like today :) and your still the expert I know what you mean by trust the other way round going personal.
This reply was modified 3 years, 8 months ago by chrisdusting.
Rare but don’t exist? …. want… haha all good I know what you’re saying, I guess that’s where buying in a trust etc will only protect you, that I know for a fact as I’ve been through it. Thanks again Terry, looks like I’m editing the video a second time today. Avoid cross collateralisation and set your property ownership up right, cheers
Is a non cross collateralised loan not a non-recourse loan.If it doesn’t come under this umbrella specifically, I’ll make adjustments in the notes. I still don’t ‘want’ a loan that if I default they can go after my other assets :) All good, thanks for the feedback.
This reply was modified 3 years, 8 months ago by chrisdusting.
This reply was modified 3 years, 8 months ago by chrisdusting.
I said ‘want’… if you’ve got no choice, you’ve got no choice.
Possibly a better interest rate, possibly some tax benefits VS losing flexibility, possible troubles with equity pull out etc etc
Again, I said ‘want’… if you still disagree, add up the amount of ‘mortgage broker’ , ‘seasoned investors’ and ‘property gurus’ articles and videos who say don’t do it VS…. do it.
This reply was modified 3 years, 8 months ago by chrisdusting.
Probably a bit late, but here’s two QUICK videos on how cross collateralisation works, what it is and what loan type to avoid, then the second video goes into the dangers…
Here’s two QUICK videos which explain what ‘cross collateralisation’ is,’ how it works and what ‘loan types to avoid’, then the dangers of ‘cross collateralisation’ … you’ll be able to make your own mind up after this, I guarantee you.