Thanks Terry, I'm happy to hear that its not a difficult process, albeit cumbersome.

I initially was under the (mistaken?) impression that it would be wiser to protect your investment assets by not owning them individually but by a trust that you effectively control. This reduces one's liability should a tenant decide to sue you for an…[Read more]

Hi Terry, since we are on the topic of discretionary trusts, could you tell me how difficult it will be to transfer my PPOR onto my trust structure? The bank that I used did not want to loan to a trust and as such, I could only get the loan if my partner and I bought the property in our names. We knew that we were potentially exposing ourselves as…[Read more]

Yes, I'm sure there will be a lot of interest particularly with the rates staying as they are for now. : )

Thanks Jamie. Thinking of a few more questions… : )

Thank you Richard. I like the idea of the sub-loan, it would be interesting to see if I can indeed look at the possibility of a 100% loan. Cheers – Firewater

Thank you for the tip N@than. I will definitely look into the IO loan set up and see if it is beneficial. Cheers!  – Firewater

Hi Jamie, its my PPOR and its an apartment.

Well my plans are flexible. I could do either of the following and be completely over the moon at my growing property portfolio : )

a) Assuming I have to wait at least 4-5 years to unlock my equity, I would buy a house which I would then use as my PPOR. My current property would become the IP; or

b)…[Read more]

Whoops! Apologies Jamie! I didn't mean to imply that it was advice. I was just analysing the points raised, that's all.

Currently, I have around $260K loan on a $290k purchase price. As you can see, I haven't paid down much on it yet because its only been about a year since I bought the property.  I believe the property value is now $320K.

The…[Read more]

Good life lesson, make sure you don't mend your own underwear once you become a property millionaire!

Lol! This forum is hilarious!!

YIKES!!

Hi Jamie, could you send me thr link to your article? I'm curious to learn more on the debate.

Hi Jamie, yes, that seems consistent, though you advise that the percentage to be paid down on your first loan should be about 40% based on your example. So what I'm hearing is a range between 30-40-% paying doown your initial loan…got it.

And thanks for the point on stand-alones. Yup, I would avoid  cross-collateralization …[Read more]

Hi Catalyst,  so you're saying that generally speaking, in order to access equity, one needs the following:

a) at least 30% of the loan for the PPQR needs to be paid up
b) based on this growth, one may be able to obtain an equity loan for about 80% LVR based on the new valuation.

Got it! Yes it does help. Thanks!

A quick thank you to Hank. Hank was very confident I would get my loan of 90% lvr despite being on visa 457. As promised, he followed up on my case, told me straight away why he was confident I could get 90% lvr and ouila! I got my loan approved at 90%, bought my first home below market value (again thanks to Hank’s advice) and I’m moving in next…[Read more]

Thanks everyone for your input. Will follow up on the sites cited.

Cheers!