Forum Replies Created
Thanks for all the feedback guys.
Richard, I had no idea that LMI is deductible! I always thought that you can only borrow against the value of the house and not increase a loan to cover things like renovations. Would you be able to let me know what this lender is?
Thanks Richard,
In short you are saying the best way is to really just knuckle down and get a 20% deposit down?
This is slightly discouraging as sometimes its not always easy to save up that amount. I have launched my own business as an income accelerator in addition to my day job.
We have very little debut – which is my first propriety to eliminate over and above a deposit on a house (your thoughts?)I forgot to thank you ‘minds-eye’ for the above reply.
A year later I feel I am a truck load more knowledgeable. I have been educating my self a fair bit over the last year though Steve’s (and his team) teachings.
Although I am still yet to purchase my first property I feel I am that much closer. I feel the hardest part is the initial down payment of a deposit. I have come across some inheritance money, however apparently most lenders need at least 3 months of ‘genuine savings’ – inheritance is not considered genuine savings.
I’m looking at going down the rout of a 95% loan (with LMI)
If I wanted to do a quick cosmetic renovation, am I only able to lend 95% of the property value? – where am I able to draw on cash to use on renovations?
Eg
Property Price: $300,000
Deposit (5%): $15,000
Closing costs: ??
Potential Loan amount: $330,000?? – is it 95% on this amount? (depending on my borrowing capacity)Excuse my ignorance here. Im still very much learning.
Thanks heaps for the advice!
Hopefully I'll sink my first deal soon. Positive cash flow deals are really hard to find!
Hi,
I apologies for adding something that may be irrelevant to this feed, however I'm unsure as to where to post my question….
Hopfully someone can help me out…
I am very new to property investing, Steve has totally changed my thinking and what I've been taught (negative hearing) in the past.
I am 26 years old, and still very fresh and new to all of this and still trying to wrap my head around investing terminology. Can someone please explain to me what is the best way to calculate a positive geared investment? I understand that there are a number of variables that come in to play, however I'd like to know if there is a quick formula I can follow if and when I find a good deal. My understanding is that you cant really tell too much from the rental yield percentage as that does not give you a clear idea of what the exact cash return is (including paying interest)
Hope to hear from someone soon.
Cheers!
Hi,
I know these feeds are rather old but I guess the information is still relevant. Hopfully someone can help me out…thats if this feed is not too told…
I am very new to property investing, Steve has totally changed my thinking and what I've been taught (negative hearing) in the past.
I am 26 years old, and still very fresh and new to all of this and still trying to wrap my head around investing terminology. Can someone please explain to me what is the best way to calculate a positive geared investment? I understand that there are a number of variables that come in to play, however I'd like to know if there is a quick formula I can follow if and when I find a good deal. My understanding is that you cant really tell too much from the rental yield percentage as that does not give you a clear idea of what the exact cash return is (including paying interest)
Hope to hear from someone soon.
Cheers!
Where can I find more information about this seminar? booking tickets etc?
Cheers
