i get lost in the easiest scenarios but come on….
all youy gotta do i puch in a cupla words and hey presto, you got MORE info than you probably would have needed.
Im of the same frame of mind.
If wrappees are generally of the lower income or in the “higher risk” catergory then surely when the interest rates hike up they will be paying at least 2percent more than the wrapor
ie wrapor loan 8%p/a
wrapee payment 10%p/a
if the wrappees end up paying over 10 percent they would have been better off with the bank surely.
And inregards to the wrappee refinancing in the event of interest rates rising or whatever and paying out on the IP then your cash cow has stopped and you have to find another.
Is this a bit of a hassle?
Are wraps the way to go at this stage of the game( rates on the rise)
or is it just rumours in the wind?
the share market seems to be getting a big beat up at the moment…………
in the latest issue of “money magagzine” (get it from local newsagency) there is a fantastic comparison chart for different banks/loans/credit cards and heaps of other stuff
I have a attitude where I like to do the research myself and have at least some gratification when My hard work pays off ie; hundreds of internet hours.
I believing in hard work not getting spoonfed.
Well done looking for people that will give you all the info you want so you dont have to go out there and do it yourself.
ouch.
Maybee ive had too much coffee it seems im freaking out again
umm, when you find some bargains shouldnt you be keeping them to yourself? or being at least slightly cryptic?
in regards to collie Im originally from WA and have spent time in the said town, the rental returns are quite low and there isnt a large population to guarantee tenants.
hmmmmm
Thanks guys.
That was a good point regarding another lender altogether,
is it possible to leverage equity from the capital gains in this scenario?
would the original lender be in approvance of this?
And also is there a way that you dont have to wait 6-12 months to revalue and then use the “instant equity” youve established from a reno?
If i finished my basic reno in one month and had it ready to go (tenanted etc)and revalued at more than the original buying price, it would be a pain in the proverbial to wait a whole year before i could acces that equity.(so i could buy more property)
Is this because of fluctuating interest rates?
Anyone got some insight on this scenario?
suerely must be a loophole somewhere!