Forum Replies Created
Hi Kris
This is a possibility that this can be done.
There are more lender's now who are moving to the non genuine savings space.
If you like, you can contact me to run through the figures and I can give a better indication what needs to be done.Regards
Rob Bologna
Dollar Wise Financial Services
03 9763 0011
[email protected]Hi Stoj
Within some platforms of the superannuation, you are able to invest the funds in term deposits and either put it in an allocated pension and take it when needed.
This would be a better option than to take it out of super as it is treated better tax wise inside super or a pension.
If you like shoot me an email [email protected] or call me on 03 9763 0011 and I will run through with you.Regards
Rob.
I too have purchased all my invest properties in reginal vic Moe in Gippsland region.
Great yields and there has been some captial growth even in the downturn.
Best way to go I think.
Regards
RobDave
At the end of the day, it's not how much money we make, it;'s about how much we can save.
Now that you know where your funds are going to and you know either how much you can save or area's you can cut back to save extra.
Next step is to open a saving account, preferably high interest and not easily accessable – online saver is good.
Set up a direct debit with you surplus cash and most important stick to it.
Realisticly at the end of the day you have your fund earning interest and although it seems you are unable to spend, it is there in an emergency if needed.Regards
Rob
[email protected]Hi Dave
Best thing to do is type in google budget sheet. Hopefully there is a speadsheet that comes up where it runs through your expenses, cashflow and assets.
From that you will be able to see where your funds are going, if there is any funds left over or where you may be able to save some money.
Then set your self a budget, and try and stick to it. Open up a savings account that pays interest – online savers are good- and make sure you put your suplus cash in the savings account.
Hope that helps.
p.s. if you can't find anything on google, email me and I will email you a cashflow spreadsheet.Rob Bologna
[email protected]Hi ReggieLam
I know some lender who are willing to accept the age pension as income.
Depending on your total income and the amount you require, if this services, I don't see why you will not be able to get a loan.
Without knowing how much pension you receive, what amount you are wanting to borrow ect. it is hard to know what you will be able to service.Regards
Rob Bologna
Dollar Wise Financial Service
[email protected]Hi Donkey
I think Frankston would be a great buy. It's the start of the Mornington peninsular and there is going to be a lot of money spent in making it more attractive.
It has a bad stigma with the people in Melbourne though even Frankston North, where you are still able to find properties for around $300 is good. That part is more rentals rather than home buyer and there is a lot of ex commision homes though for an investment the yields will be better. While you are down maybe even look through Dandenong or Doveton which is still relatively cheap.
For me, I like the areas where other people avoid or has a bad stigma as sooner or later that disapears and cleans up as people move even further out.
Good luck with your search and it is not as bad as people think…
Regards
Rob Bologna
[email protected]Hi Nicholas
I think the best company to do the RG 146 would be Kaplan.
They are industry recognised.
Regards
Rob Bologna
[email protected]Hi Missers
Best thing to do is talk to a broker or lending manager at your bank.
If you are currently looking it is proberbly best to get a pre approval so you know what price range you can afford and if something pops up which you like in your price range, you will be more than likely able to get the loan and make an offer subject to a valuation.
If you are after more independant advice, a broker may be better as they may be able to search out best loan product for you.
Hope all goes well.Regards
Rob Bologna
Dollar Wise Financial Services
[email protected]Hi nOOb1990
If you want to get into financial planning try AMP as they run a horizon's program for new planner starting in the industry.
I think it's a 6 month program which will train you and then find a placement for you either within a practice or with the horizon's group till you find a practice to work for.
It is a great career opportunity as you can move into mortgages, investments, super and insurances and once you have gained your experience you may be able to open your own practice.
Great place to start is on amp.com.au to try and get a placement in their next intake.
Good luck in your career path.Regards
Rob Bologna
[email protected]Hi jrm88
So long as there is either no probationary period or the probationary period is ended, you will find most lenders will take into consideration your income.
That means if you find employment tomorrow and the employer is willing to sign that there is no probationary period, your income can be included.
Regards
Rob Bologna
Dollar Wise Financial Services
[email protected]Hi
Correct me if i'm wrong, though I thought if been bankrupt you were unable to get any loans – Including vendour finance.
How about Doveton.
Close to Dandenong, great rental potential and still relatively cheap.Great answer Richard
The banks would definately not rebate when refinancing.
Most brokers are independant businesses who have invested interest in their client's, thus it would be silly to give misleading info or a wrong product just for commision.
The broker will lose more business in the long run.
My perspective with a good broker you build a great relationship, able to contact directly and work together to suit client's needs.
Bank manager, when you find a good one they end up moving to a new branch or company just when you start to feel confortable and are only able to advice on their companies product's to suit the companies best interest – even if their is better product out their.
I can go on and on but at the end of the day it is what you feel most confortable with.
If you are happy dealing with bank manager's and that is working – may as well stick to it on the other hand if you have a good broker which is working – stick to that also…Regards
Rob Bologna
Dollar Wise Financial Services
[email protected]Fishgym
Is the main reason you want the properties to stand alone because you are looking at selling or repurchasing?
Regards
Rob Bologna
Dollar Wise Financial Services
[email protected]Hi Fishgym,
I know with the CBA they have changed their lending policy to refinance / purchase to a 90%LVR, though if you are an existing client and looking at purchasing I know they will go up to 95% LVR.
As far as placing each loans to stand alone, more than likely they would have to be on an overall 80% LVR.
Talk to the loans manager or as mentioned even a few brokers on what loan structure you are after and how you would like to possition yourself for future investing.Regards
Rob Bologna
Dollar Wise Financial Services
[email protected]Once again Mike – THANKS.
Must catch up one day for a chat…
Hope to speak soonRegards
Rob
Hi Mike
What a great thing you are doing…
Received the reprt this morning for a block of units I am purchesing though they are all on 1 title.
Was a bit worried how this may affect future vals.
With the report it seems like I may have purchased the block a little under value.
Thanks once again. Hope can come back to you if require another.Regards
Rob Bologna
Hi
Anyone getting finance these day's should suggest a finance clause of 21 day's if possible and a settlement date of at least 60 day's.
It is getting very difficult with the banks, as mentioned in above posts, depending on what bank, it may take as quick as 48 hours to 4 weeks (where I know ANZ is at the moment).
Unfortunatley it is not the brokers fault, though he should have warned you previously with the process and timing.
Regards
Rob Bologna
Dollar Wise Financial Services
[email protected]If you want to get into the industry the best thing to do is join a aggregator or bank.
With your cert iv, this should get you a position where possably the employer will pay for the MFAA fee and you will be getting paid a wage and commision.
Like Terryw said it would be good to get into financial planning as well so you are authorised to give advice and work with the client for total solutions and strategies rather than product only.Regards
Rob Bologna
Dollar Wise Financial Services
[email protected]
