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  • Profile photo of Josh_PJosh_P
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    @josh_p
    Join Date: 2013
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    May 30, 2013 - 9:52 pm

    Hi qlds007

    I feel as If I a getting great advice and everyone has been quite friendly.

    A %100 loan is something I have never heard off. It sounds too good to be true. Is there a catch, like a higher interest rate than normal or interest only repayment or something like that.

    I would really be interested to hear the details about this option.

    cheers.

    Profile photo of Josh_PJosh_P
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    @josh_p
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    May 29, 2013 - 3:05 am

    That's sounds like good advice. I am also considering going into partnership with my dad to buy a property as he has more borrowing power.

    if I were to do that would it be better to do that in a unit trust?

    Profile photo of Josh_PJosh_P
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    @josh_p
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    May 29, 2013 - 1:10 am

    Sorry I should have written this in the first post.

    what if you find a place and do all the figures factoring in the cost of the property and how much rent you would get and found it positively geared, present that to the banks ; shouldn't they then not worry about your income and all that.

    am I to optimistic? :)

    Profile photo of Josh_PJosh_P
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    @josh_p
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    May 29, 2013 - 1:07 am

    I would estimate that my current resale value of the unit is $260k at the least. I live in a group of 37 and 2 years ago one sold for $280k. Whilst others have put themselves on the market for 250-260 in the last year.

    Profile photo of Josh_PJosh_P
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    @josh_p
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    May 28, 2013 - 10:56 pm

    Check my reply below. I'm not sure if it suffices as symptoms but that's my situation. Any advice will be taken gratefully!

    Profile photo of Josh_PJosh_P
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    @josh_p
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    May 28, 2013 - 10:54 pm

    Hi, thanks for the input I really appreciate it.

    my situation is…

    I am 27 married with 2 kids under 2.

    I have a unit joint owned with my wife with a mortgage of $230,000 which we are paying off.(roughly $425 a fortnight in repayments). Also the interest rate is locked at %8.15 till may 2015 (a huge mistake that I still kick myself over; I didn't know anyone to ask advice from when I did it)

    I rent out the unit to my parents for $500 a fortnight and rent their house of them for $600 a fortnight.(my unit is 2 bedroom and their house if 4 bedroom; we needed the space for the kids)

    I earn about $65000 a year gross. My wife earns about $9000 a year from centrelink.

    we don't save a lot at the moment because our budget is tight. However I do expect to get a nice tax return $5k-$10k. Which I want to invest. I want to do wise investments with low upfront capital and positively geared. With interest rates as low as they are I would think that creating a positively geared property is more attainable.

    Also I beleive that my lending power would be better through a trust. I'm not sure any advice would be great.

    Profile photo of Josh_PJosh_P
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    @josh_p
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    May 28, 2013 - 5:08 am

    Could you tell me  a specific lender which in your opinion would be a good one to start with. Also one which might be willing to work with someone who hasn't got a lot of capital behind him but has some good ideas :)

    with the trusts I just thought that it offered more asset protection and tax benefits. The hard thing is working full time in my job and trying to piece together all the information to start property investing without losing money (especially with a family)

    Profile photo of Josh_PJosh_P
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    May 28, 2013 - 5:03 am

    Thanks I will definitely have to look them up.

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