Thanks for the good wishes – hope so!

We may need them because as you say the numbers on buy & hold are a wee bit lean so my partner and I are gearing up to do some higher risk (prefer ‘informed investment options’) small development work first up, ploughing profits into buy & holds. Wise? []

Mel

Hi Del,

You sound like you are where my partner and I want to be in about two years time. We have set this time-fence on the period where we are happy to lend the max we can to get rolling, but after that sub-80% is much more attractive long-term.

Who knows what the future holds though …

[]
Mel

Hi Fizman,

Don’t you just hate it when the debts sneak up! As another broker looking at your info I agree traditional lenders will not touch you at the moment. My 2 cents worth:

– don’t sell the house
– seriously consider selling the car and getting whatever you can afford outright (ie Bomb)
– knock over the personal debt asap (banks hate them…[Read more]

Nu Gen, you are just trying to get triple posts to catch up to Westan …[]

Swaney the theory of a line of credit is something like this:

House value – $300,000
Amount owing – $180,000
LVR at 80% – 240,000

If it’s an income lend, then providing you can service a $240,000 loan you could refinance with $180,000 basic variable P&I (cheapest rates…[Read more]

Clint,

Yes interested to see what you find between Hervey Bay, Warwick to Gold Coast region.

Pls contact me on melanie@homeloanconnexion.com.au to fill me in.

Thanks,
Mel

A lot of self-employed people I know rent as they claim (rightly or wrongly, I’m not an accountant) a much larger portion of the expenses as costs of running their business, especially if involves other people working with them, storage of goods eg furniture samples for importers etc.

Otherwise I tend to agree that in the last 3 years owning and…[Read more]

Phalic or ‘Fallink me think’ …. ?!?

Aussierogue I think I’ve figured it out. In spring the breezes blow from the north – ladder/stayline 1, and in autumn from the south – ladder/stayline 2.

Scary.
Mel

Symmetry is beauty in the eyes of master Architects … appears they lost the plot in the middle though. Surely you’d have to get a licence to climb them?

Crashy,

To my surprise have to agree re reno option in the Bris metro area now, but like housing in general there are still some v good overlooked buys to be found on the outskirts I think.

[]
Mel

Brad,

As long as it’s known to be your place of residence yes I think you can rent to your girlfriend IF she has a separate bedroom in the house … might be wrong but I thought that’s what an accountant told me once – comments anyone??

However, if you are pretending not to live there and claim as 100% rental, refer definition of ‘rort’ …

[]
Mel

small land tax bill – do the govt charge by the centimetre?

I am/was as total BLOCKer – addicted to that as I am to this forum – but yes always thought it strange that the worst whiny voice on the show put out an album, good luck to her I say, and how’s a $256K return on 11 weeks work for Ken & Barbie?! Mind you that may be chicken feed to some folks on this chatline ….. []. I have met someone who…[Read more]

Hi,

Why not just get NAB to lend you 95% on the new IP, leaving the existing one where it is? Often better to spread around amongst different banks, but Del is right about ramping up no. of buys being hard if lend is greater than 80% – probably depends on your circumstances and strategy.

Happy investing []
Mel

Just listen to you lot, tired of all those yummy dinners, clean clothes and warm tidy home already huh …. hang on my boy does most of that stuff, hmmm, maybe he’d rather have a rental too …[]

Mel

and us – Mel & Dino

melanie@homeloanconnexion.com.au

[]

Welcome to sunny queensland – good choice! []

Depends what you are looking for – high density unit, semi-detached, space to roam, new/renovator/renovated etc, and of course how much you have to spend ….

Any clues?

[]
Mel

Hi,

Must confess I have had the same reservations in planning my aspirations of the long liquid lunch lifestyle, however I think Steve has just given us investment tools and it’s up to us to customise them to suit.

One way we’ve come up with is to form a small investing group and there are personalities in the group who aim to excel at…[Read more]

Agree with Wilandel, plus add ‘Subject to building & pest inspection’ as that often gives you leverage to lower the price based on faults found at a time when the vendor is already spending the money in their head and normally eager not to relist on the market.

If it was an auction though, I’d try to get a pre-lim inspection and know top value…[Read more]

Definitely yes for companies, including company trustees, not sure for trusts.

Mel

Davo70 I tend to agree – our new little property investing group is giving Rocky a bit of a swerve now too because compared to a lot of other areas in the Qld coastal regions, it just doesn’t seem to be going anywhere, yet …

Glad we’re not the only ones to find this.
Mel