If you are not planning on selling for 12 months and won’t be able to title for 6 months due to paying off the OSC then it gives you 6 months to get titles ready in order to sell the units individually, cant see anything obvious that will prevent this happening?

You have the rate offered to you and then the assessment rate that varies between 5 to 8% so choosing a lender/product with a lower assessment rate can bump up borrowing capacity somewhat.

The agent will know what the reason is, whether he will disclose or not  (doesn’t sound that way) is the test. Go back and ask him/her why the seller doesn’t allow a building inspection.

Put property in a discretionary trust, live there and sign a lease and pay rent to the trust, run a business from home and the rent becomes a deductible business expense as a bonus.

Seek advice from an accountant first, as always.

• This reply was modified 3 years, 5 months ago by  Colin Rice.
• This reply was modified 3 years, 5 months ago by  Colin Rice.

Went to a seminar last night and Perth people pay 24% of nett wages to rent/mortgage repayments, Sydney is closer to 44% so it will be relative to the geographic location of the impact that is felt.

I would say we will get into stress, without anything else changing such as unemployment or hyperinflation, around the 6% mark which historically is a comparatively low-interest-rate historically speaking as banks asses still at around 7% rates, factoring increases based on the medium historical average interest rate.

There are many other variables to consider than just interest rate.

• This reply was modified 3 years, 5 months ago by  Colin Rice.

Consider what you like to do, what you are passionate about and work out a way to monetize it.

Pre royal commission this was a relatively easy fix, now, as @terryw has already stated it will require a full application to assess serviceability under the new repayment schedule. Being self-employed, depending on your scenario can also complicate matters.

• This reply was modified 3 years, 5 months ago by  Colin Rice.

As already said get yourself a reputable investment savvy mortgage broker, hint they have already made themselves known.

Greg Mayer wrote:

I don’t believe that I am asking too much for the property, with the current ad for ‘Offers over $299,000’.

Its normally always the price but as mentioned could have a dud agent as well.

Nigel Kibel wrote:

In my view Melbourne has another to 4 years in the current cycle.

Very interesting and if that is the case then you could consider Melbourne over Brisbane for short to medium term growth.

Hopefully can generate some equity that you could then pull to purchase in Brisbane.

• This reply was modified 7 years, 1 month ago by  Colin Rice.