Forum Replies Created
I dont see a problem refinancing to buy another property as long as the investment property can show it can pay for it self, and you could nominate a spokes person in the country if need be.[why not get your friend to ring and ask the questions to the bank in question, that way you can have an answer straight from the horses mouth so to speak.buz2]EZY
Hi Steve, I live in eatons Hill so we are neighbors, I am always interested in whats going on in the minds of others ..If you dont ask , you wont find out.its that EZY.
[buz2]I went to school with a Billy Love.
[email protected]Drivers who act bad on the roads[baaa]
my son was driving his wifes small car with his wife and two children in the car ,He usually rides a trike. when a big car speed up and the young guys in the car yelled abuse and gave his teenage daughter some rude suggestions.
my son said nothing drove up to the car and stopped at the lights…got out of the car , and you should have seen these cheeky young things trying to put their windows up in a hurry…why because my son is 6″2 olive skinned, weighs 112k’s and wears his hair long and also wears
leather , a scary sight for any one on a dark night, especially if you are skinny white boys who have just insulted a mans family.
The lights turn green and my son laughted as they took off up the road like scalded bulls….incidently my son is a gentle giant..
just thought they needed a fright.[buz2]Ok what about a calculation of the Mortgage Insurance, so many people ask…What exactly will we have to pay in stamp duty, mortage Insurance,
its a bit scary for some people who are just scrapping through and would like to know all the extras. that they haven’t fig into the equation
I know it’s around 5% but that makes some people still hesitant [buz2]you know me I am EZY.A few Questions…are you an only child?
if your mum passes over and you have to think of that at 82 who will benifit from the house when sold /or willed ,You, the Cat society…who ?is there a problem with you buying the house …at a resonable price and letting mum buy herself a small place…check with the vet affairs re how much can mum have in the bank before it effects the pension.she might like to have a little in the bank,why would she want to skimp on a pension when she might be able to have a nice nest egg.Mums wishes should come first its that EZY[buz2]
not to say your not a good person,another idea is if mum owns her house out right
why can’t she borrow the amount the vet affairs says she can have in cash before it effects her pension , rent the house out at the exact amount it costs to repay the loan.if shes not making aprofit she will not lose her pension.
go and live in a small place of your /her choosing
that you buy and she could then pay you a nominal rent.and have alittle spending money.[worried]my comments are of a general nature .
and I have thanked you personally
but just to let others know ..
Thanks for the calculator.I think you are great[strum]and I sing your prais’s
Ezy[buz2]Hi I was just passing and thought “oh well”
I may just say some thing you like or not..
$30.000 12 months ago could have got you in the loop quite easy , its a little harder now with interest rates a little way up the ladder, and you have to take into consideration your living standard, a little sacrafice never hurt any one,
the lenders have a scale they use on what it would cost for your living expenses per annum.so your buying power at this moment might not be to good, I dont know if you have savings or can tap into any other source.
Do you have a person/partner you could team up with? maybe share a couple of properties ,untill you can strike out on your own.?
How can you finish a winner if you dont first start.[it does’nt matter where you start ]as long as you put your foot on the rung.
your buying power at the moment is around $100.000, there are other factors to consider and this is just a ball park fig.
I am sure others in the forum will give you much encouragement.
IT’s EZY [buz2]when you dare.
If there are trees around the house and the weather has been very dry the trees work their way under the house looking for damp thus draining the area of moisture , which is one reason the houses crack. and subside….tell your friend to check the tree situation. to start with.[buz2]
This is an EZY first step.if you know there has been a lot of enquiry’s on your CRA, I would suggest you down loan your file and write an explanation against each hit.
Like just shopping around for a car went to 3 car yars , bought privatley
7 hits for finance was shopping around for best rate and best lender.
etc at least have an explanation that way your broker can cover you by explaining to the current lender that you were not denighed a loan
you where only looking. etc[buz2]
I have had a few of these and a letter of explanation before the lenders check the CRA is helpful, that way they already know whats on there and have an explanation in front of them.
hope that helps.[guilty]New South Wales in the grip of Terror.
I have decided I am going to Buy Buy Buy and Hold Hold Hold.
We could debate the Government of the day but we can not do any thing about it, and if we could change the Government, would we want to?
same ole same ole [bandana]…who ever said lets give the battler trying to make a secure life for the future , a fair go. Not any government I have heard of, [buz2]if its for a Inv/property you can get up to 95%
refinance but you have to pay Mortgage Insurance.
If you have a property valued at $100000 and you want to buy a Ip for $150000=thats a total value of $250000
95% is $237,750 less the amount you owe on the first property say $50.000 you now have $187.000
the $150.000 for property 2 and $37.750 for cost’s
A valuation would need to be done on both property’s and proof of income and affordability
[all the paper work done again][dead2]
most investers prefer a 80% lend as you dont need to go through all that hassel again but the valuation is a must.
its EZY the second time around so I am told[buz2]A Bank valuation is different to a realestate valuation…the banks value the property on what the value is in the area at that time,
The realestate value on what they think they can sell the property for and are usually inflating the price hoping you will put the property on the market, of course this is not all realestate agents , but the banks always do their own valuation, what you must ask them to do is a full inspection and not a drive by, which some valuers do. If you get a private valuation even if its from the same valuer that does the Bank Val it will still be different, because you are looking
at the property for a different reason[buz2]This always worry’s me..
If you engage a Realestate agent to sell your property…and a Buyer engages the same realestate agent to put an offer in to buy the said property….who is the realestate agent working for?[other than him self]
I think there should be two realestate agents one for the seller and one for the buyer, thus they are both trying to get the best deal for their client..[argue]surely the realestate agent can
not do justice for both .?[withstupid]
on payment to the realestate agents…I guess
they would share the commission. 50/50 or the
buyer engages his agent on a xxx amount bonus if his the buyer gets the property for the amount he offered…..state your opinion and smile[biggrin]
or am I just being a Dope[cigar][buz2]Due care….Its ok to hit a man with a stick, if he has a stick.and he is entering your house..but you can not shoot him.[ thats excessive force.
You can shoot him if he’s coming into the house and he has a gun ,but you can not shoot him when he’s leaving, even if he has raped and pilaged….thats excessive force.
so my idea on that would be shoot the f…r as soon as you can even if he’s leaving the house,
grab his body put him inside the house and say he was in the house when you came home.
Thats due care for the family in my book.
But then again I’m strange that way [axe]
I always think its EZY[buz2]Hi ,what about an article on deffered payment
what the banks do…
and is it possable for a buyer and seller doing the same..
also I would be very interested on the Islamic Home loans, I see there is an article in the MIAA mag about this but they didn’t go into the details as good as I would have liked.
[buz2]so in theory you are gifting your property to the neighbour and buying his for $100.000..
mmm mmm you would need some good legal advice
maybe selling your property on a deffered payment
and paying $100000 with the balance in the same deffered time frame.
it would pay to find a solicitor who deals mainly in property.
I am also always looking for a good angle[eh]
If you dont ask you wont find out.[weird]
Didn’t one of those smart guys[smart] ask himself how and why the apple fell off the tree.
Me I wouldn’t have questioned it I would have just eaton it.[confused2]You could ring the farmers co-op in your area and they would be able to direct you to the department
which deal with this sort of thing , sorry thats all I could help you with, not much of an answer but it might help[buz2]I also ask for a time frame of 2 days to contact the valuer they can take 2 days to look at the property and a further2 days to get back to the lender, …2 days for the Mortgage Insurer.. 2 days for the office.4 days for the solicitors,
and if the buyer has not gotten all his paper work that can hold you up so ..I ask for 25 days..
some times depending on the bank’s you need this time…….25 days seems a long time but if you get it done sooner thats great if you dont at least you have a breathing space….and not panicing about things that are out of your control.[buz2]Try again, if you think its worth asking,
think before you print…
or ask why it was deletted …
maybe you just dont know what is acceptable or unacceptable in the forum…
maybe you just pressed the wrong button.[confused2]may be some one could send you a private post and explain what you did wrong,[comp]
That would be nice of them,
If some one doesn’t tell you you wont know..[angry2].its EZY [buz2]I know its up to the buyer to get all this extra work done, but
I think if you are selling a property it should be up to the seller.
wouldn’t that make life easier…
You walk up to the door and the seller hands you the pest report, and you can make a decision on that instead of each person who wants to buy having to pay for an inspection.
The seller adds the report to the price of the house …[guilty]it would be EZY[buz2]
