Forum Replies Created
Me three Doogs! Thanks and good thread everyone! I’m now seriously considering relocating to the land of the long white cloud ….30%!!
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MelTalk to the council asap – they should give you either a blanket no or a tentative yes. Also ask them to recommend a town planner/surveyor.
Where in Sydney?
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MelWestpac, in Qld anyway, are still one of the v v few to take owner builders too so could be a goer – had you tried them yet Scott?
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MelSorry chief [
]!I have heard some horror stories (as no doubt most people who watch the evening news have unfortunately) but I honestly believe we deliver great value for all the reasons you point out above!!
Actually it’s one of my pet peeves re how some of the biggest players in the mortgage & real estate businesses base almost their entire advertising campaigns on discrediting everyone else as shonks with a self-righteous “we’re the ONLY ones you can trust” attitude. You know who I mean. I think it’s disrepectful of the majority of people in these professions doing a damn fine job for their clients and being totally transparent & honest in their dealings. Put a bit crassly these ‘attitude’ folk are shitting in their own nests – messy, and somewhat lacking in logic to my way of thinking!!
Hopping off the soapbox … plonk.
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MelStuart – would love to see the article when it’s done. My theory for clients on all these ‘ads’ is simple:
There are two ways to reduce your mortgage – (a) lower interest rate or (b) bigger repayments. The ‘managed’ mortgage managers get you the results by encouraging (b) where you put more in AND leave it there, while unfortunately simultaneously charging you a slightly higher rate eg 6.5% on a LOC, whereas 6% on a basic variable if you had the same discipline for repayments would give you even better results.
If all you do is use the 55 days interest free credit card attached to a LOC but make no extra repayments OR pay a cheaper rate then it works out you genuinely save about 4 months on a thirty year loan, whereas a cheaper basic variable rate would take off 3+ years at the same repayment level.
Having said that there’s a lot to be said for constant encouragement to save and the advantages of features like LOC & Offsets, so shop around and choose what suits you personally – just watch out for the hype & know what the facts are.
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MelSteve achieved that return on about a third of his properties by wrapping and LPO’s I believe – hence their attractiveness!! [
]Re SE Qld – it’s tough, but they’re around. Ones I’ve seen/heard of recently include run-down student accomodation in Sunnybank, under major power lines, out west near Esk, wraps on the sunshine coast hinterland etc.
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MelHi Scott,
Heard on the weekend that this is a no go [
], never tried to broker it before but appears to be fact. Have you tried to do it as a construction loan?Cheers,
MelSach, as one of those horrid brokers I can happily say the fee is FREE [
] most of the time as lenders pay us – and despite what you hear occasionally most lenders pay the same!!Personally I think doing enough research to replace a FREE visit with someone with knowledge of over 400 products from 35 lenders is going to be tough, but not impossible as a lot of the lenders have good sites.
Good luck!
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MelSach I think like most mortgage managers, Aussie aren’t necessarily Bad, just lacking range and independence.
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MelSach – just shop around. Ring up a few, ask people you trust who they’ve used that they can recommend or if you think any of us finance folk here can help just ask! [
].Re getting the best deal – to be honest getting the RIGHT deal is often the most important bit, and if you’re educating yourself on options I believe you’ll be able to pick the right broker for you.
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MelWow – now I don’t feel so bad!! I got sooooo addicted I almost got divorced (Maximus …?!) so had to SHARE my screen with my partner to show him what the caper was, then I kicked him off! [
] First chat site addiction, looking forward to delaying withdrawal symptons for some time yet!![
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MelHi Kierra [
]Have you seen a broker? How are you structuring your loans – Interest Only or Principal & Interest, Line of Credit or basic variable, and at what LVR?? Also are you shopping between lenders (often a good option) or sticking with one?
This info will help with answers … [
]Mel
Hi Carmen,
May be able to help if you tell me the town’s postcode & approx population.
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MelHowdy [
]Great to see more new folk pouring in – all from IT! I’m a mortgage broker and novice property/share investor from Brisbane. Love this site, look forward to more posts from you all!
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MelHi!
Regarding valuations – if it’s for the purpose of refinancing I recommend seeing a broker who should be able to organise a free one with a lender-approved valuer. Regarding a local building inspector, I can highly recommend Builder: Gordon Gillam – 0418 690 313
Pest Control: Sam Boyce – 0411 340 115Hope that helps
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MelIf they charge you broker commission, sure, if it’s free, um no! Re travel etc. can’t see why not, the intent is doing what you do to earn income …
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MelWelcome aboard!! [
]Seems like all the Sydneysiders are working today – clearly the heartland of negatively geared property!! [
] []Keep reading and contributing newgirl and I’m sure you’ll meet many new Harbour Town folks to knock heads with over property. Trail through some of the older posts – there were a stack about NSW properties a week or so ago.
Happy investing
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MelHmm – like to see how that negotiation proceeds, you’re talking the king of positive cash flow TOWARDS him now …!
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Mel
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], never tried to broker it before but appears to be fact. Have you tried to do it as a construction loan?
] First chat site addiction, looking forward to delaying withdrawal symptons for some time yet!!
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