cosmic replied to the topic Help with a beginners financing question. in the forum Help Needed! 15 years, 4 months ago
Ok, he gets it now and that hurdle is over. Now for the next one!
cosmic replied to the topic Removing cross collaterisation with CBA in the forum Finance 15 years, 4 months ago
For me, this is the most confusing part about entering the IP game, for the moment. I would like to learn more about this. What should I read?
cosmic replied to the topic Help with a beginners financing question. in the forum That’s why I am here looking 15 years, 4 months ago
That's why I am here looking for advice and clarity.
cosmic replied to the topic Help with a beginners financing question. in the forum Help Needed! 15 years, 4 months ago
The budget is about $250k depending on what we find.
cosmic replied to the topic Help with a beginners financing question. in the forum Help Needed! 15 years, 4 months ago
Ok, my partner called the bank to talk about seperating the loans. They said we would need to borrow $50k from our PPOR equity for the deposit for a seperate loan. They said then we would only be able to tax offset $200k of the IP, not the full $250k of the house. Is this the standard situation?
cosmic replied to the topic IP strategy? in the forum Creative Investing 15 years, 4 months ago
Wow, where do you find houses like that?
cosmic replied to the topic Beautify bathroom on half a shoestring budget in the forum Value Adding 15 years, 4 months ago
I did up our bathroom on a quarter of a shoe string. I painted the walls with mould resistent paint and put cheap bunnings lino over the 50's tiles. I am surprised at how well it came up. Definately easier to live in now. The lino cost about $20 and the paint was free. A vanity can be bought at auction for about $100.This is my makeover whi…[Read more]
cosmic replied to the topic Properties that don’t sell in a day, are they still good? in the forum Help Needed! 15 years, 4 months ago
We don't have a broker. The loan has been pre-approved from the bank using the equity from our home. Could you please explain this to me as I am a total dummy when it comes to this part. " Bank dont cross collateralise the securities otherwise they may just lend against your current e"quity and you be unaware that the valuation came in less t…[Read more]