So this would only need to be for the 40%? 

Thanks for that Nigel. The issue I have is securing the 40% for the deposit against the properties I have in australia. I havn't asked the my bank but Im assuming they won't lend it to me without the details of the property in the US. 

I'm assuming that the banks you are talking about are US based banks? Can we deal directly with them? ie can…[Read more]

Hi Nigel and Rob,

Just a couple of questions as to how the nuts and bolts of securing a us property. How does it differ from securing a loan in Australia. ie;
find property.
organised through broker or bank loan based on;
– value of property,
– expected rental yield,
– equity borrower already has and any cash funds and
– finally current income…[Read more]

Hi Mattsa,

I’ve heard that you can spend up to 10% of the total value of the property on the landscaping without over capitalising.

Cheers.

I guess there doesn't seem like a good reason not too, and on top of all the other reasons, they can have the loan set up within a week as opposed to 3-4 with the big bank. This is very good as settlement is once finace is sorted.Thanks for your comments guys, I guess if a loan broker is suggesting going with a non bank that it must be a good idea

Banks only insure loans above 80% LVR. Below this and you are free of LMI restrictions.>>so non banks will pay LMI regardless? how do they charge me for it? is this factored into the interest rate or are they going to hit me with it some other way? If you think your rates will just go up in line with the RBA just ask Macquarie Mortgages clients…[Read more]

Hi Richard and Terry, I'll squeeze a response to both of you in one to make it easier. I've cut parts of your responses into and put my responses against these. If there is LMI involved then the LMI company will dictate the requirements you will have to meet. So if in the future you apply for a increase and your postcode is no longer allowed with…[Read more]

Hi Richard,I'm not following. So even with LVR less than 80% the insurance is paid by the lender (therfore they have accounted for in the in the interest rate?) I take to mean that LMI is paid all the time then? If the LVR is greater than 80% the the borrower pays, if under the lender pays? why is Insurance a bad thing if the lender pays for…[Read more]

Hi Terry, thanks for your post. I spoke with the lender a couple of times and he got me to put my worries down in email, this is what he wrote back.Interest Rate: 5.06% standard variableFree ApplicationFree ValuationFree Settlement FeeNo Monthly or Annual FeesNo Ongoing FeesFree Internet RedrawFree Salary CreditingFree Online BankingUnlimited…[Read more]

G’day all,
I’m in a similar boat to julie and thomas as a real estate agent friend has sugested that i should be able to sell the front one for the same as what i paid (not including buying and selling cost though) anywho I’ve got the land for free to build my new family home

KP I’m not sure if i understand your method, is there some way to…[Read more]

Thanks Gross, do you want my email address to send the spreadsheet? ( i think you can find it on my profile)?
I like Adelaide too, there is much going for it except population. I have a few theries on where its going but generally the market has slowed here but definately not gone backwards.
what do you mean by “do finace”? Is that providing…[Read more]

Hi Gross,
Unfortunately I’m in Adelaide. I would have really liked to come to a get together like that. I might see what I can get from bank web sites and, like AUSPROP said, make a simple spreadsheet that I can plug the numbers into.
Thanks again for your posts.

woops ignor this, I didn’t realise that the forum’s spanned multiple pages, I thought my original question on the programmes didn’t go through. Trap for young players!

Thanks Gross, yeah all those things really eat away at your profits. buying = 16K selling @ 5% = 31K. What programmes do you use to get the figures or can you recommend any?

What about TAX? or is this a whole new thread?

thanks Gross,
Are these programmes ones that you have purchased or self devised?

what about taxes?

g’Day Gross,
my broker said that to only cost 5K per year to hold 600K approx worth of property was damn good. I guess that he has seen too many negative gearing deals:) although that was to buy and hold, Im leaning more to selling them now.

I feel like i have broken many rules that steve has said in his book, so i’ll be happy to come away from…[Read more]

Hi all, I’m a virgin poster and just read this thread and sounds like i could be half way through an investment that might not stack up. I’ve listed the details below and can provide more if needed. In a nutshell, I’ve just bough a big block 900sqm with a 3 br house on the front, community title hammerhead devision (small costs), 3br, double…[Read more]