Forum Replies Created
Congratulations Junior [^]
Always enjoy reading your very wise young words of wisdom, keep up the good work!!
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MelDitto to above
My partner and I dream of making our mark with a life full of challenge and positive energy. Some of the usual sad things have happened along the way, just making us more determined to live life to the full every day in every way – and being dictated to by others just doesn’t fit that picture …. listening to and being involved with inspiring groups like this certainly does [^] !!!
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MelHi Clinton,
You do have lots of options and I’m also happy to help. I live in Brisbane.
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Mel
[email protected]
0438 548 235Blame Westan … [
]Great to hear where everyone’s at.
Muppet – zero plastic surgery, think it was the stunning pigtail, t’shirt and shirts combo that did the trick …. sigh.
Age disgracefully, that’s my motto!!
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MelBanks can be good too – dare I ask ‘which bank’ ? [
]Wish I knew a local broker to send you to, but what have the bank has recommended – the forum brokers may be able to help.
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MelHi May,
To play devil’s advocate – What has been the growth in those two areas over the last 3 years, and what rental income would you expect from those two properties, plus is your strategy cash flow or capital growth? Neither is better if it doesn’t meet you objectives! [}
]My two cents – go coastal.
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MelHowdy [
]You’ve got lots of good options. If you have your PPOR loan structured correctly you can ‘draw out’ the equity and self-securitise the new loan with the best product available and without restricting future options with own home by having it cross-collateralised. Using other savings is fine too – really depends on your current income, equity etc AND your long term goals.
Have you been to a broker to discuss your options?
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MelCaught it – seems Steve is headed for superstardom in a big way on Monday night as Mr One Million Dollar man – great work!
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MelThis is fun [:0)][:0)]
Few more:
Mia
Eve
Rory
Anna
McKenzie
Arki
Morgan
Vanessa……. are we helping at all ?!?
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MelWelcome [
]Definitely a few strategies to consider, depending on what you are willing to do to free up investing options, ie:
1. refinance everything with a few different lenders (incurring break costs) to minimise impact on serviceability (within one lender they apply a safety factor to interest rate of about 20%, between lenders they’ll normally take the face value of the monthly commitments) AND maximise flexibility, ie to cash in on equity gains via inc. amounts etc.
2. venture into lo doc territory where income is self-stated, source not as important – some banks like Macquarie have great reducing rate loans that are in line with basic variable loans after three years
3. go back to your bank and speak to different branch managers – not all apply their own banks policies equally.
Hope that’s a start? Step 1 I always think is to see a broker!! There are quite a few brokers on the site, including me, and they all seem pretty genuine so give them a call.
Wow!!
Well done Terry – you’ve taught me heaps too [
]Mel
Ay Amigos!
Good old Brisvegas, family from Burketown (try getting a loan there … not) to Clermont to Yatala.
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MelJust hit the slippery slope of 31
, feel 21 [:0)], look 18-ish [8D] (got asked for ID last week – cool!) and bought first PPOR last year after 10 years of poo-pooing property …. the foolishness of youth!Making up for lost time now I’m in the mortgage & property game plus start options trading Monday, very exciting!
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MelSounds good Aussierogue – keep hearing the 2006 deadline for the boom, which makes investing now very attractive.
Only question is effect of a sharp interest rates rise, which I think would be temporary (<3 months) anyway.
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MelHome is work is home ….. [
]This is way too fun to call work though, even though v busy couple of days and missing heaps of posts – should catchup tomorrow …
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MelThanx Simon [
]Mel
Lookup Baycorp Advantage on the web – think it costs about $20 to order your credit report online.
To have a default listed against you eg from a late telco bill, they have to give you a couple of warnings first, but up to two months overdue is asking for trouble. A lot of lenders will overlook small paid defaults of up to $300 but clean is best!
Also listed on your report are investigations by institutions every time you apply for credit – eg bank loans, car leases, store credit cards etc etc and if there are too many noted that don’t match eg the no. of credit cards you declare having, there can be problems as often it shows you’ve applied for and been knocked back from several institutions, making them suspicious of the ‘facts’ you’ve provided.
Hope that helps.
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MelHere here – Jamie’s a VERY fine example [
]Honestly though, looks aside, he is a real inspiration, gardening books are my second biggest addiction, and his passion for his work shines through, bit like you guys!
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MelCrashy – where’s that book ?!? [
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MelGood work VPA – you sound like you’ve got a plan – go for it!!
I’d also touch base with a local broker, they are generally free and more opinions help.
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Mel
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, feel 21 [:0)], look 18-ish [8D] (got asked for ID last week – cool!) and bought first PPOR last year after 10 years of poo-pooing property …. the foolishness of youth!
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