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  • Profile photo of FidelFidel
    Member
    @fidel
    Join Date: 2007
    Post Count: 6
    April 4, 2007 - 2:19 am

    If no luck with Valuations, why not negotiate with your Friend to pay what the property is worth and see if the bank will loan you that amount? You'll pay too much for it otherwise. My opinion only

    Profile photo of FidelFidel
    Member
    @fidel
    Join Date: 2007
    Post Count: 6
    April 4, 2007 - 2:14 am

    Yes, it makes a bit of sense now that when I recently refinanced my IP's to an overseas bank the Aussie bank's Lawyers needed to do Valuations and searches on The Security property, which probably cost me more……. Touche
    Thanks for the help.

    Fidel

    Profile photo of FidelFidel
    Member
    @fidel
    Join Date: 2007
    Post Count: 6
    March 2, 2007 - 3:51 am

    Thanks for the replies…. I have gone Interest only because I solely desire an Income stream in addition to my current job which I will not do forever. The Interest rate I am paying is 1.6% on one property and 3.5 % on my other two IP’s. ( Foreign Currencies). So I do not really care if they are paid off but I need to consider this if I want to move ahead quicker, and as a P and I loan only pays off Interest mainly for the first few years, the repayments should be similar, right? I should just be patient and sit on my hands for a while, but we all know, the boat is always sailing!!!!!

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