Kipper57 replied to the topic Loan Checklist in the forum Finance 18 years ago
Ensure your MB has a good clear picture of your long term goals as well as the immediate, so that he/she helps you to choose the right product/s. Also ask him/her the various ways of setting up your loans including benefits and advantages or disadvantages.
I would also discuss the for and against of LOC vs Offset as there can be various benefits…[Read more]
Kipper57 replied to the topic Worst house in the best street in the forum Help Needed! 18 years ago
Hi as the property has cost nothing and you say there is plenty of land have you considered building another home on the block and everyone can live happily ever after just a thought
Wayne Skewes
Mortgage Broker
Email wayne.skewes@eaussie.com.au
http://www.eaussie.com.au/Mortgages/Aussie_Mortgage_Adviser.asp?ContentID=852280
Refinace, Loan…[Read more]Kipper57 replied to the topic URGENT NEED LOAN-UNENCUMBERED PROPERTY in the forum No Subject 18 years ago
Some lenders do a valuation via satellite eg google earth its quicker than doing a drive by. Westpac use this at times however if LVR high this would probably not be suitable
Wayne Skewes
Mortgage Broker
Email wayne.skewes@eaussie.com.au
http://www.eaussie.com.au/Mortgages/Aussie_Mortgage_Adviser.asp?ContentID=852280
Refinace, Loan…[Read more]Kipper57 replied to the topic URGENT NEED LOAN-UNENCUMBERED PROPERTY in the forum Help Needed! 18 years ago
Yes I see, I miss read his request as 8% a year did note the per month until you mentioned it. I guess with those sort of rates you would work over xmas.
Wayne Skewes
Mortgage Broker
Email wayne.skewes@eaussie.com.au
http://www.eaussie.com.au/Mortgages/Aussie_Mortgage_Adviser.asp?ContentID=852280
Refinace, Loan Consolidation, Owner Occupied or…[Read more]Kipper57 replied to the topic URGENT NEED LOAN-UNENCUMBERED PROPERTY in the forum Help Needed! 18 years ago
I would be surprised if anyone could settle a deal that quick during the xmas period considering there will be at least 3 days where the lenders are closed. Depending on lender and location a sateilite valuation maybe achievable.
Next to establish the maximum you could borrow more information is needed to know the servicablility, you can email…[Read more]
Kipper57 replied to the topic 100K Investment in the forum No Subject 18 years ago
I agree with Terry however your current loan gives you a predicted amount per year. Property is a little more unpredictable you may get no growth for a few years and then takes off but the average is 10%. Further with property there are potential tax benefits
Wayne Skewes
Mortgage Broker
Email…[Read more]Kipper57 replied to the topic Bank Valuations – Conservative? in the forum Help Needed! 18 years ago
In response to Summer sky I live in Brisbane and within a close radius to the city approx 3-4 kms out and not sure why you would be concerned re having a valuation. As you have mentioned your purchased at 300k and now they are selling around the 360k mark.
Not sure where you are we could be next door to each other [biggrin] I purchased 3 years…[Read more]
Kipper57 replied to the topic How do you structure your financing? in the forum No Subject 18 years ago
You have been given some good advice by the others I will add though, if you are new at this it may pay you to do some research into what will add value to the property. This may vary in different locations so it may be beneficial to discuss with the local real estate agent.
The market has slowed somewhat, so it would not be as easy to do as say…[Read more]
Kipper57 replied to the topic flexible deposit in the forum General Property 18 years ago
Yes I would say it is cheap as that is all you have to pay to secure a property which is a large amount of money $125 is not much in the big picture. Crikey if thats a lot I would defer purchasing a property
Wayne Skewes
Mortgage Broker
Email…[Read more]Kipper57 replied to the topic Need help with numbers! in the forum Help Needed! 18 years ago
Hi I am wondering why you are not using the equity in the first property to purchase the next property so then you will have both.
I would think the first property would be positive geared so even if the second property wasnt covering itself the first would help. I guess it also depends on your income as to whether you can contribute to service…[Read more]Kipper57 replied to the topic flexible deposit in the forum General Property 18 years ago
Another way you could have achieved this is with a deposit guarantee. It only costs a small fee and they guarantee the deposit to the vendor. There is no security used for the guarantee, but you will have to pay if you do not follow through
Wayne Skewes
Mortgage Broker
Email…[Read more]Kipper57 replied to the topic Vulture in Disguise in the forum General Property 18 years ago
This is not advice just a similar alternative to those suggested. You could set yourself a reasonable price and then your minimum, appoach him with your offer of course the higher amount first. The reason I suggest to have your lower amount identified is so that he does not bartter you down beyond what is reasonable.
If he does not take it then…[Read more]
Kipper57 replied to the topic Advice on Developing recent buy in the forum Help Needed! 18 years ago
have spoken to the surveyor, the council, the solicitor and the designer and from what i can gather we have to get the survey plan into council first and then start meeting the criteria of the approvals – the solicitor says we can’t buy the neighbours land until the survey plan is signed by council but i don’t think they do this until the whole…[Read more]
Kipper57 replied to the topic Interest rates in the forum Help Needed! 18 years ago
Predicting interest rates is a tough call for anyone at the moment. Some expect it to rise further others say because of the draught, interest rates next year may soften. Whom really knows, if you lock in you are stuck at a higher price if falls, if you dont you get left behind if a rise.
Hedging your bets as you have suggested is one way.…[Read more]
Kipper57 replied to the topic Would like to enter the Property Investing field. in the forum Help Needed! 18 years ago
Not sure why the theme is go to a bank, I guess I am a little biast but my suggestion is go to a broker. Make sure you pick a good one though, ensure he/she is MIAA accredited and a member, ensure they have completed Cert IV in mortgage broking.
When the introduce you to the loans ensure they offer you a selection and ask if they are paid any…[Read more]Kipper57 replied to the topic Buying next IP in the forum Help Needed! 18 years ago
Hi I have an ebook that can flick across to you in an email on negotiating skills if you like just send me your email. It is free and I gather the author wont mind as has their details in it. Written by a buying agent
Wayne Skewes
Mortgage Broker
Email…[Read more]Kipper57 replied to the topic Bank Valuations – Conservative? in the forum Help Needed! 18 years ago
Realestate agents will suggest a price way over the top to get your listing, you will have a slightly more realistic approach but have some emotion attached, the bank will be ever so conservative. Especially with a unit or appartment as the price can fluctuate quite a lot as in comparison to something with land value.
Oh I forgot the tax man…[Read more]
Kipper57 replied to the topic Young and just starting out in the forum Help Needed! 18 years ago
Yes you do need to live in it within the first twelve months and for a minimum period. The option you may have is to buy a first property as an investment, someone could be helping you to pay it off. However it also may be a bit of a draw back when applying for your own property due to being able to service both loans on a low income. This…[Read more]
Kipper57 replied to the topic Advice for non-Australian resident? in the forum No Subject 18 years ago
From what I can see you have done all the research, is there any reason you have not applied for Australian Citizenship or permanent residency? I am not sure what is involved in this. I think getting married is a bit drastic, which country are you from?
Wayne Skewes
Mortgage Broker
Email…[Read more]Kipper57 replied to the topic Buyers Agent needed for Perth in the forum Help Needed! 18 years ago
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I bought thru them and they didnt pass on all info from the agent, and I bought a lemon. Its the worst property in my portfolio, and I will probably need to sell, though Im more determined to turn it around.Not sure why you would recommend a business that you say organised a lemon for you however guess you did advise to be particular in…[Read more]
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