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Thankyou everyone for your advise.
I will give it a try.Has any got any experience with Cameron Bird?.
I am planning to buy a house in Cairns ($275K at Redlynch)from their recommendation.
Hi again,
I forgot to include my address [email protected].Maybe we can travel together.
Hi,
I also from Sydney & do like to buy an IP in Cairns.
Please count me in for any of your discussion & analysis.ANZ will lend 95% plus Mortgage Insurance MI ie approx.97% of the property value..
NAB, BankWest & Macquarie Bank,Permanent Trustee, HomeLoan LTD, AIMS will lend 95% but you have to pay MI.
I asked this question myself two weeks back & got some answer so now it’s the time to give it back.Goodluck, it is a hard job to get any lenders to approve at a high LVR. You have to show a very strong application.
I suggest you go to see a broker who deal with the above lenders, they will do all the hardwork for you as they want to earn the commission.
Thankyou.
I will give it a try.Quote from DeanJP:
While we are on this note there is I have noticed a few posters that get in here and fire off “I have done this +ive cashflow deal in an area I want to keep a secret so there!! ” attitude and this I think has frustrated posters such as Tails. I think sharing the knowledge of potential boom areas would be a great deal more constructive than some of the secretive bull that has been going on. It just causes frustration.I like your suggestion, If anyone willing to share their experience, please be specific. We are (new people) not lazy, we just can’t see & understand yet. Especially in Sydney, I can’t see where we can’t find a +ve cashflow property (I have tried 3hr drive from Sydney).
I am also new to property invtestment.
I have read from this forum alot about +ve geared properties.
I am in the same boat with 111111, or even a bit slower to understand the concept og +ve geared
1) I like to ask the same question about continue to pay tax at 48.5%?
2) Where can we find these properties in Sydney? I went to a suburb 3hr drive from Sydney and it is stil -ve geared.Can it be done if your super is not enough for the whole property or even just enough for the deposit say 20 to 30%.
can we lend money to fund the rest?
Leigh,
Thankyou, it definetely open my mind to other alternative.Thankyou Oscar & Brent, I will try some more broker who deals with ANZ & NAB
Leigh,
To answer your question:
Have you already signed contract on the property?
No I haven’t. But I have a hold on the property & also secure the price.Do you require 95% because you only have 5% deposit?
Yes & No. I do have 10% but like to keep my cashflow high.Is the property positive cashflow?
No, I am only just start with this & I haven’t been able to look for one with +cashflow yet.What are your plans for the property?
To gain in Capital, I have done some homework on the suburb & believe it has already been increase by 8% for the last qtr.Are you paying full market value?
I believe the market is already up compare to the price that I secure the property.Are you trying to make me re-think on the purchase?
