Finance guys and gals, what about non recourse loans? Do you deal much with them?

I think the LVR is about 65%? I’m thinking this is something similar to what kurious is saying?

Cheers
Mel

Talk to your solicitor! I don’t think cancelling the payments will help in the long run as they may turn nasty and put a mark on your credit file, which might then need some explaining later on!

Cheers
Mel

We could keep ‘restating our positions’ on this one, but I’ll just add this:

If the tenant is struggling to pay the rent on time, ALL the time, do you really want this tenant? I would be much happier to have a tenant that happily pays on time to get a ‘discount’ (which is precisely the rent I wanted to achieve in the first place), and who was…[Read more]

But Kay, they’re still only young and naive [:p] Me too[]

Well, I have met some lovely people, but they were workmates of my Mum’s, so needless to say I didn’t know them very well

Cheers
Mel

Originally posted by Matt P:
rabbits?? as in rabbits rabbits [:p]

Yep, cute little white bunny rabbits.[}]

Cheers
Mel

SIS, you are an aggressive little bugger. []

I would say for every one of you (and me) there will be 30 or 40 who won’t want to grow that big that fast.

For me now, where my loans have 6 zeros, there won’t be many banks that will lend me much more than 80% (if at all under normal loans). []

Cheers
Mel

SIS, it’s only a discount in this instance if they pay on time. It’s easier to do that way, than to say there’s a penalty if they are late.

Cheers
Mel

Yay, 316.6. Most frequent score 0! [] Lots of face plants!

Cheers
Mel

Originally posted by Still in School:
Rabbits?

huh….[?]

Cheers,
sis

Yep, rabbits![:o)]

Cheers
Mel

I would think that always having 20% equity is still being very highly geared!!

I’m at between 25-30% at the moment, and would like to reborrow that 5-10% back out, but the banks are saying no, as they see us as being ‘too highly geared’.

Cheers
Mel

Karan, it will become a problem if you cannot find tenants.

If there is a property crash, that suggests that people are not buying, and therefore there should theoretically be less investment properties, so in time there will be more demand for rentals. If you keep your tenant, you shouldn’t have a problem. If vacancy rates fall, then rents…[Read more]

Bugger! I’ve only got 9 1/2 years experience. Oh well, not going to be listened to! []

Cheers
Mel

I think there are a lot of places that have a shared backyard. We have one in Canberra, and it hasn’t appeared to present any problems.

Be aware that it would be hard to then tell the tenants who should look after what…..

Cheers
Mel

elves, just put your cursor where you want it to go – and click on the smilie you want to insert []

Cheers
Mel

wrogers, if you do a search for Rockhampton, there have been a few discussions and a few PMs mentioned.

Cheers
Mel

Yes, beerboy, but with the ‘rent reduction’ you have actually increased the rent by that $10 per week anyway, so you’re happy to get the quoted price less $10. If they don’t pay on time, then you get a bonus when they do pay up.

Cheers
Mel

Hi, we do have lots of Kiwis on here, but as Leigh said, we’ve sent Westan over to NZ, and he’s buying up all the real estate for us aussies.

For a NZ forum, (populated by a few members from here also) check out http://www.propertytalk.co.nz

Cheers
Mel

Picja, with the deposit, when do you have to pay it back?

Also, is it a ‘loan’ where you are charged interest?

Cheers
Mel

Originally posted by MortgageHunter:
NODOC loans are available if the LVR is low enough. I have a NODOC product from 6.8% interest rate.

Hey Simon, what LVR is a NODOC loan?

Cheers
Mel

Mooda, it doesn’t have to be equal shares in the trust, which can be really good if one puts more in than the other, etc. etc.

Also if you do split and no longer wish to own property jointly, buying back the units in the trust is a lot simpler than having to change the name on the title etc. etc.

Cheers
Mel