Hi Mel, that’s not an issue. You could stipulate in the contract that a certain flat fee is non refundable in case the buyer fails to sell their PPOR within X months. That fee should at least cover your legal and holding costs.

In regards to the valuation, I seriously doubt anyone here can tell you the value of your property without inspecting…[Read more]

Hey mate,

I’m sure some people will find it useful.

I’ve used plenty of formulas when I used to invest in shares. Still look at some ratios in real estate, when looking to compare apples to apples but here’s the kicker: from my experience, property isn’t just the present value. Far from it. One property might have better ratios but the other…[Read more]

Hi Deb,

Multiple applications will get your credit score hurting, yes.

Did you go direct or via a broker? A good broker would pull your credit file before applying and thus you would avoid even applying to BankWest as they would reject the application, as they did.

If your partner can service all by himself, that could work, yes. otherwise…[Read more]

Lenders will look at your brother in law tax returns. If the numbers work, there shouldn’t be an issue.

Suggest having a preliminary discussion with a broker to get specific advice.

Cheers,
Ethan

Generally speaking, properties usually grow in price in this order (from most to least):

House > duplex > townhouse > unit

Can’t see ratios between them changing much but I bet it fluctuates. If I were you I would probably guesstimate them to have the same growth speed with some margin of error to feel safer.

Hope this helps?

Cheers,
Ethan

Generally speaking, properties usually grow in price this order (from most to least):

House > duplex > townhouse > unit

Can’t see ratios between them changing much but I bet it fluctuates. If I were you I would probably guesstimate them to have the same growth speed with some margin of error to feel safer.

Hope this helps?

Cheers,
Ethan

Generally speaking, properties usually grow in this order (from most to least):

House > duplex > townhouse > unit

Hope this helps?

Cheers,
Ethan

Hey mate,

Without knowing more about your situation, can’t provide specific advise but generally speaking you may want to consider placing the funds in an offset account or a redraw facility. This way the funds will be available to you should you need it.

And, yes, reducing non deductible debt is probably a better option than reducing deductible…[Read more]

The time between contract date and settlement date is a grey area which is why at least one insurance company offers free insurance to buyers until settlement date. We always go with that. Better safe than sorry 👍😎

The time between contract date and settlement date is a grey area which is why at least one insurance company offers free insurance to buyers until settlement date. We always go with that. Better safe than sorry 👍😎

The time between contract date and settlement date is a grey area which is why at least one insurance company offers free insurance to buyers until settlement date. We always go with that. Better safe than sorry 👍😎

I think it’s called “how to buy a house for a dollar” and you can find it on eBay 😉

I don’t know these guys but this sentence caught my attention:

It reminded me of th saying: “if you’re not paying for it, then you’re the product” 😉

Hi PT18,

Agree with Richard and Terry. I’ll just add the following:

Based on:

and:

The scenario I see is as follows (please let me know if I missed anything):

Current loan has a redraw of $35K and(!) an offset of $20K?

So funds available now are: $55K?

The current net loan amount is $370K, not $355K?

If refinancing with another…[Read more]

Hi PT18,

Agree with Richard and Terry. I’ll just add the following:

Based on:

and:

The scenario I see is as follows (please let me know if I missed anything):

Current loan has a redraw of $35K and(!) an offset of $20K?

So funds available now are: $55K?

The current net loan amount is $370K, not $355K?

If refinancing with another…[Read more]

No, not in Sydney, sorry 😕

Hey mate,

If you’ll move to another lender, you won’t be able to enjoy LMI credit that was already paid.

You might want to top up with existing, ideally to the sweet spot that won’t require additional LMI paid due to credit. The top up should be done as a split and used to buy the IP so the interest on it is tax deductible.

If these funds…[Read more]

Hey mate,

If you’ll move to another lender, you won’t be able to enjoy LMI credit that was already paid.

You might want to top up with existing, ideally to the sweet spot that won’t require additional LMI paid due to credit. The top up should be done as a split and used to buy the IP so the interest on it is tax deductible.

If these funds…[Read more]

In our building we got a sparky to install the new ones. Don’t recall the cost but it definitely didn’t seem to be expensive.