Forum Replies Created
Hi guys,
if your seriously concerned about your health and
the health of your friends etc etc then have a
look at http://www.bodyforlife.com it will change your
life!
merry xmas and happy new year!!
itsamoorey
With inflation it might be twelve or thirteen years until that 30c is enough to buy a cup of coffee.
What are we talking here? flat white? latte??
itsamoorey
[|)]Hi guys,
Thanks for all your input, it’s refreshing to hear
of people who have done the same investing. It
doesn’t seem like such a challenge then.
Have a great weekend.
itsamoorey[|)]
Thanks Simon,
currently reading through ‘your mortgage’
magazine, trying to learn more and more everyday.
I’ll be in touch when it’s time to invest… I’ll
probably just do the one as it’s my first then
i’ll venture out and purchase the second. I think
that i definately have to plan a lot more… I’ll
probably wait until Feb then start the ball
rolling with a vengence.
Thanks again,
itsamoorey
p.s. no other loans at all so I was thinking about p&i, will see… payrise next month which is always nice though! have a great weekend too!![|)]Thanks s i s,
Did you have any major problems in regards to
paperwork or was there anything that frustrated
you in relation to the purchase? I’m going to buy
my first two IP’s during the next few months. The
main reason that i can’t be present at the sale is
due to the remoteness of my work.
Thanks for your advice.
itsamoorey[|)]
Yeah,
I’m hearing you. With work commitments etc etc
it’s an easy way for me to aquire, as long as I
have family in the location who can do the
physical inspection for me. I also have a good
friend who’s a real estate agent. I trust totally
trust him (i know… real estate agent and trust?)
So, I guess this might become my niche in the
market and who knows? maybe i’ll write a post
about it and let you all know how it goes?
Have fun,
itsamoorey[|)]
Hey guys,
Thanks.
Simon, thanks for the answer to the io p&i
question. p&i would probably make sense I guess,
especially as i’m looking to retain the majority
of my properties, in a boom market it would
probably be easy to sell the odd property here
and there to finance other acquistions but…
do you really want to have to sell pos geared
properties so you can acquire more? I thought that
Steves idea was to use pos geared income to
replace your own? So, i’m guessing that you save
a deposit or two, then wait until you have enough
equity for a third and continue from there??
Simon, if i can afford a 20% deposit and avoid
mortgage insurance do you think that’s wise or
should i divide that deposit and purchase two
houses? (i prefer the later at this stage).
Thanks again,
itsamoorey[|)]Simon,
Thanks for that, i’ve been researching both io and
p&i. I’m not too sure which way i’ll go at the
moment, are the repayments vastly cheaper if i go
the io option? One question I have and i’ll
probably post it later (after a few quiet, much
deserved holiday beers) is:
After purchasing the first investment property,
how do single people on a single income save the
cash or establish the equity on the first loan in
order to get a second loan happening? Surely the
first loan must need to have equity somewhere in
the vicinity or 10 – 20k in order to secure
finance for a second loan? I wonder how Steve and
his investing partner did 130 in 3.5yrs?? I think
they deserve a medal just for finding the
properties let alone finding the equity to secure
loan after loan….
Anyway, still deciding whether io or p&i is for
me? p&i is prefered (for eventual capital gains or
as a superannuation top up) but io will do fine if
the repayments are a lot less and i can save for
the next deposit?
Thanks for your help.
itsamoorey
p.s. will keep you in mind when i’m going topurchase and when i have more of a clue.[|)]
Hi guys,
Thanks for your input. I’ll definately do the
research before purchasing (doing it now). I was
hoping to hear some accounts from people who had
purchased interstate without physically sighting
the property.
Have fun,
itsamoorey[|)]Thanks Simon,
I’ll keep that in mind. May also use you as my
mortgage hunter too, will see how things go.
By the way, what are you paid compared to the big
four banks?
[
]Thanks again and have a good xmas break.
Lozza,
I agree with everyone, you need to treat yourself occasionally.
The main problem you might face happened to my mother.
She was about 25k from paying off her home loan and decided to go overseas for four weeks.
She paid off her overseas trip then went again about every six months.
Five years later and she’s almost paid off her home loan again…. mum’s is a drastic case but just splurge with a budget.have fun,
itsamoorey[|)]My bad,
I meant interest only.
Thanks for your replies, I’m still a little unsure so i’ll think about it. I have been told in the past that the majority of mortgage advisers are paid spinoffs for recommending certain bank loans.
If this is the case how do you find a mortgage broker who is unbiased and more importantly honest?
Thanks for your replies,
itsamoorey (not a fan). [|)]
]
