If you need to save on the kitchen cost to compensate for the added cost in LMI…. let me know and I can perhaps assist with getting you upto 50% off good quality kitchens…. however it is not top of the line … I would say it is in the top 25% percentile with good quality hinges, door ranges and cabinet styles.
Cheers,
Kiwi

Originally posted by Terryw:
What about keeping a certain amount in your account. If they want to see deposit (usually don’t these days), then show them this, but you can still borrow money from elsewhere. This may be hard to do if you want to use all your money for deposits, but it will also act as a buffer if things go wrong.

What about…[Read more]

Mini…. Great Post…. I am still smiling and I read it about 15 minutes ago! I like your style and I like your perceceptive view on this… you are most certainly not one of the investing sheep and you gain my deepest respect…. great passion!
Keep it up …
Any more comments?
Cheers
Kiwi[baaa]

you could:
1. Try another lender that will give you a bettter Loan to value ration … this way you can get some of your 20% equity out (Unless the market has moved dwon an aborbed your deposit value).
2. 6 month 0% credit card transfer – Pay for job, revalue once complete (Take lots of before and after photos) and then pay back card.
3. get an 18…[Read more]

Give Tony Cordato or Cordato Partners Sydney a call…..

They have done hundreds of these … if you explain your situation and current frustrations … I am sure thye will accomodate you and assist you.
All you really need is:
– Instalment contract
– Sales contract
– Legal Waiver (or at least a doc to disclose that they have have legal/…[Read more]

Hey BArb,
Thanks for the run down. I have a few of these that have good future build potential, I have sussed out slapping 2 bedders on them (if wurvey comes in and costs would stack up … if hte DP’s come at a good rate … will wait and see what happens.
AS for Taumarunui … I have a few deals on the go there and also Wanganui. They are both…[Read more]

Hey there,

Why not see if you can get the venders will leave the cash in the deal for 5 years …. then work back from there….. you never know they may agree to it and if you never ask you may have missed out on the time you could have had that finance.
Cheers
Kiwi

If you know hte agents that sold the one identical to yours…. go in and tell then you are thinking of selling and know they sold another one identical to yours! … how mcu hdi d it sell for? and don’t leave until they show you the sales contract.
Cheers,
Kiwi

HEy There,
I have done this one my own PPOR in a room.

30m2 of timber laminate (Rosewood).
The existing floor was crap and we laid masonite acrossthe complete surface area to be covered. This helped with leveling and insulation. We got hte following.
15x 2m2 packes of flooring (5mm)
30m2 of 7mm Masonite
35m2 of 3mm thinsulate foam rubber…[Read more]

Hey there Captain…..

I have done some of these and what I do is this:
I have them instrumented in such a way that I do not have to show the new option purchaser any of my paperwork as they see a blank sales contract with no prearranged price in there… so you agree on the price and write it in and then at settlement the original sellers…[Read more]

Sell the house and then…. by a rental and a
PPOR,,,,
so that you can benefit from setting you financing the right way…..
So many people make the mistake of buying a better house than the original one …. but the funds are for personal use and thus useless to claim on interest of the loan.

even seek financial advise and see if you can set up…[Read more]

Hey there,
sounds like you need to go back to the drawing board and ask yourself what you are trying to acheive by investing….

Cashflow and lower capital gains… will get you working less at your day job the more you get the less you work….. +any capital gain is an added bonus

Capital gain
Will generally be neutral or negative cashflow…[Read more]

Hey there…

Cross colateralising is not without Risk …. in the fact that you are resting all your eggs on 2 properties… os if one turns pear shaped…. the ohter can be also sold or called on by the lender as it is used a security to secure the other loan….
This is no different to securing finance for a business purchase though as banks…[Read more]

Hey There,
Here is my 10 quid worth

– Weight up your risk
– What return are you going to get
– Factor in the what ifs
– When do you get your return?
– Spread our risk as much as possible.

This will give you a spot check on what your deal is like if you consider all of the above…
AS fas as risk goes … ther is no point buying a 100K place in…[Read more]

Yup good Idea Duckster…. I find opportunities and if I can’t find a buyer … I take the deal myself!
All Positive cashflow though …. I just can’t see the point in digging a hole for yourself …. especially if your risk is too high and you are just starting out….

“Play hard but play it safe and use you head not your braun”
Cheers
Kiwi
[baaa]

Thanks all!!!
Much appreciated!
Cheers
Kiwi[baaa]

Hey There,

Looks like you answered the start of your journey when you commented about savings lacking…. Perhaps some self education in money management would be a great start to give you more opportunities…. “To manage money, first you have to master it”
1. Spend less than you earn
2. pay off your comsumer debt as fast as possible
3. Save…[Read more]

Hey Sean,
I am guessing you have taken a position on the price of the house and you think this is worth pursuing for whateveryou investing reason!

Here is what I do.
Once you are signed up with your 10-15 day due diligence clauses intact…
1. Grab the internet and goto http://www.yellowpages.com.au
2. Check out at least 3 realestate agents and get…[Read more]

Hey there,
Great ideas!
A Couple of hurdles though.
Banks /lenders like to see proof of savings prior to lending funds.

Unless you use a non conforming lender…

So the challenge is to find a private lender for deposits) that will sign a gifting declaration – which is hard to do…(although not impossible) unless you have another agreement…[Read more]

Hey There,
If you do get an offer knocked back…. ask them when they li8st with an agency that they write in pen on the contract:
No fee or commission payable if sold to “your name, comany or agent of yours”

Cheers,
Kiwi