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Hi.
Log onto the ASX site for education – they have online mini courses. Not quite what you’re after, but then you could try Peter Spann’s Freeman Fox site, or attend one of his seminars. don’t think you’ll find a forum like this – pls post it on this site if you do.
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]Hello mother.
Try to get a loan with a full redraw facility – this will allow you some leeway if anything does go wrong. Refinance your gem to draw up to 80% on a no doc loan, then use some to buy 1 or more properties.
JUST MAKE SURE that you leave something in kitty for the hard times.
And go for it!![]Hey, Hollywood?
Is your glass always 1/2 empty? Richo is right – my son has just completed an HSC assessment based on exactly this subject – of how the media can influence public perceptions.
So, you might also like to note that today Mahatir of Malaysian infamy,[] has come out to say that Muslims have made their own problems, and must also fix them – by following their beliefs – which do not include international terrorism.
So there is hope after all. []
Live for the day.[^]
Maybe this discussion does belong elsewhere, but it’s nice to know we are not all self obsessed.[]Hi,
Firstly don’t blame the broker[] – he is not the valuer, who is employed by the lender. The broker wants your property valued as high as you do – he wants the money from the loan – if it doesn’t go ahead – he gets nil.
We have just successfully challenged a valuation of our ppor – which we knew was way under – by asking local real estate agents for recent comparable sales. Ask your broker to get some idea of what properties/values were used to compare – this is harder for you long distance, but not impossible. Then []present the proof in written form, showing date of sale and $ value, and location in respect to your property. We just increased our val by $25k – it is still under reality, but it is enough for us at this point.
If you decide to get another val paid for by yourselves, then you must ask for it to be done for use of the lender – and you’ll probably have to pay a bit extra to get that – about $50. Make sure you talk to the valuer personally, and let him know about the other sales and their value – don’t rely on him to have good info – they often compare weatherboard with brick, and not in a similar position – your mind would boggle at some of the val’s comparisons that we have seen (as mortgage brokers), with sales from 2 -3 months ago not being included.[!][]
Basically, don’t give up!!!!!!!!1You can do some margin lending to buy shares and pay interest in advance, but I’m sure a quick call to an accountant will give you many more. Are you PAYE or self employed? Are there any costs involved in your work that you could claim?
If you have a family- doesn’t have to be wife and child- you can start a family trust and ‘distribute’ the income to whoever you choose – see an accountant quickly.
[]I really like the bit about the super fund owning my ppor – this should be law (imagine how much money could be liberated for investment!)- but unfortunately this would only apply if the ppor was unencumbered – I’ll have to work on that[
]Cookie, your smsf cannot borrow, nor can the property have a debt against it- so – the joint partner cannot have a mortgage over this property, but [
]if the mortgage is against an unrelated property, then that’s ok. Phone the super hotline if in doubt, but make sure you get their decision in writing – they’ve been known to change their minds!![!]good point about the risk[
] – less likely that 2 are vacant together – one house vacant leaves a big zero income.[]I actually spoke to my solicitor about this, as I was in the middle of a land purchase from a private sale and felt there might be something to worry about. She said that this is worrying, because there is a lot of it happening at the moment[
][!]. It appears that the ‘owner’ has fake id to prove they are the one’s on the title.
Please everyone, get your solicitor to make sure before you commit.mmmay1 could u send me your email adress?
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] has come out to say that Muslims have made their own problems, and must also fix them – by following their beliefs – which do not include international terrorism.
] – he is not the valuer, who is employed by the lender. The broker wants your property valued as high as you do – he wants the money from the loan – if it doesn’t go ahead – he gets nil.
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