Any news on this workshop?

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Mel

Hi Aussierogue!

Hmm – interesting – love name picking, just called our two little pug puppies Gus & Olive and they suit them down to the ground.

Personally I think you need to see the baby first, but my top votes on your list are Indigo and Zoe.

I also like India, Abby, Isabell and Madeline … not much help, sorry!

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Mel

PS this is my first…[Read more]

Hi,

To meet lenders criteria then basically only through a) having rich friends with very deep pockets or b) getting very high yields or short term equity gains that you quickly increase lends against and onwards and upwards, definitely get a broker onboard too. Some examples: 1) buying an old three bedroom house, doing a cosmetic reno and…[Read more]

Howdy Rod,

From a lenders perspective ‘serviced apartments’ are too hard:

1. If they are under 45 m2 living area (excludes balcony & carpark) no one will touch it, that I know, and most small serviced apartments are, so they need to be cash purchases – I think this is the main reason they don’t appreciate in value either.
2. If they qualify on…[Read more]

Hi Victoria,

I am also keen to head down this path, it seems a lot more challenging and hopefully potentially rewarding than buy and hold.

I’m doing a course soon – where do you live, I have come across a few good developers who may be able to help.

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Mel

Aaron aaron aaron – this is begging for a response ….. []

Mel (One of the upteen brokers on this site not shy to tell people what we can do to help them, cos that’s what we do to help them …. []
melanie@homeloanconnexion.com.au

Hi Michael,

Seeing as you are still in your first trimester you’ll acquire about 120 properties at this rate – good going!

Re broker commission – lenders not only want to claw back commission from brokers but they are also smart enough to spot a pattern and if you are genuinely buying and paying off houses this quickly you may start hitting…[Read more]

Hi Michael,

Always depends on the deal ie lower LVR &/or more security then less issues basically. If you are both going on the certificate of title of an investment it doesn’t matter who the applicants are or who’s putting up the cash provided you can show that all parties receive a benefit from ownership of the investment, ie a split of the…[Read more]

Hi Angie,

Is your objective reducing debt or reducing dependency of investments all in one area?

Generally I tend to agree with Mr Macks – if getting your hands on more ‘cash’ to do more investing in other areas is the aim, then use equity where possible.

If reducing your debt or reducing your exposure in one location is the objective then yeah…[Read more]

Morning Andrew & welcome aboard [:0)]

It is great to see young guys & gals getting into investing. In an attempt to respond to some of your questions:

1) Yes you can. Option one is product like CBA’s Equity Advantage, where you can use your parents equity AND income to purchase property together with your name on the title (assuming they are…[Read more]

Howdy,

I’ve learnt heaps from this thread – thanks guys, and in answer to Brenon I hear there’s a good book called ‘Trust Magic’ that explains it well.

BongoX2 sounds like you keep your accountant busy! I set up a trust with $2 shelf company in May and it’s cost me about $2,000, so given the many monies I hope to roll through it and the…[Read more]

Simon – agree []

Congratulations Amy, great to hear you had a happy outcome.

PS Simon are you doubling up replies just to get more posts stars?? That’s cheating!

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Mel

Brett I saw from your other post that you too are an agent so was interested to see this response. As a broker I come in contact with lots of agents and am yet to find one who thinks much of Jenman at all.

I too struggle with the logic of addmiring anyone who’s path to success is through loudly & rudely disgracing and bad mouthing all & sundry…[Read more]

Good summary Simon. I also think that offset accounts are a great idea.

Another idea is to get a valuation of the current investment property before you move in so that when you sell it’s clear what the capitalgain while it was a rental vs when it was PPOR is clear.

Cheers,
Mel

I think it’s the credit people you get, rather than the bank. Some Brisbane CBA folk are just great, same for Suncorp Metway, Homeside (NAB) and Macquarie. To be honest we find that if it’s sent South because Bne centres are overloaded, things get hairy. Knowing the person to talk to that makes it happen …. makes it happen! []

So in answer…[Read more]

Good point Terry, clawbacks hurt, especially CBA who clawback up to 18 months after settlement.

OzBravo – I think you are spot on too – complimenting my own vision of financial success was certainly a key reason I got into Mortgage Brokering, how about you? As an ex-ginger beer I like working with no.’s and as someone seeking a financially free…[Read more]

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Now I understand – HousesOnly the commission rate is 0.6% to 0.8% – you’re missing a zero!!

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Mel

Hi HousesOnly,

Not sure where you found $20,000 commission in my reply on portion of loan, it’s no where near 4%!! If I do a loan for $200,000 I can really only expect about $1,300 up front commission, and even on I/O for the next three years that’s only another $400-ish per year. The average loan length is about four years because people sell,…[Read more]

Keggles,

If you are in Brisbane I know a good lawyer who can help you with this style of contract – I plan to use him myself later this month.

If you’re interested drop me a line on melanie@homeloanconnexion.com.au.

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Mel

This is a great thread!

I have to confess that my life pre-mortgage broker was as a Process & Environmental Engineer with Orica (dulux, selleys etc – I was in pesticides), went to UQ – tops Uni, and I KNOW the Lions will win this year (again) because they simply outclass everyone else!! Carlton who?

Home Loan Connexion’s office is next to the…[Read more]