i must confess. i was born and raised in the east. with a young family had to move out to `greener’ pastures (due to affordability). i used to say to friends coming from the beyond the princess hwy, `wheres your passport??’. i agree that there is a stigma about c’town, but really i have come to like the area and its now very much home. we will be…[Read more]

get your finances in order first. then you know how much you can spend.

Robert, usually I like your balanced views but your last post is about 10-15 years behind the times and inaccurate (I for one don’t smoke anything). Whats having to show ID to a taxi driver got to do with the reputation of an area???? I think you’ll find that in terms of affordability regions like Campbelltown are becoming very popular due to the…[Read more]

kay, hope you didn’t take offence to my inclusion of you in my last post. Your motivations for living where you do are non of my business, however its hard not to miss the changes happening in and around Redfern in the last few years. And your right. Sartor and his spikey haired predecessor Clover (can’t stand that woman!) have done a swell job of…[Read more]

so you have around $20K? that ain’t enough really when you consider that for a $200K property (an older style townhouse in say Campbelltown) you need a deposit of around $40K, unless you go for 100% financing. have you considered interstate??

fluffy, on what basis could you possibly say that Campbelltown has a bad rep. Do you live here???? This discussion is really hopeless. As Kay said earlier, she lives in Redfern. Redfern is slowly becoming like Newtown and Paddington. I assure you that in every suburb you have problems, and areas within suburbs that you probably wouldn’t invest.…[Read more]

well said sue! How very true that remark is!

Cashpoor, by what criteria are wanting to exclude suburbs???

Eric

Hi Matt,

As an owner of a good, solid, +ve cf property in a small mining town my advice to you would be to tread carefully. Knowing what I know today I probably would not have bought this particular ip given the low prospects of growth and uncertainty about the longevity of the towns main source of employment. Mind you I don’t totally regret this…[Read more]

hi damo,

Can’t knock you for your drive and ambition!! Good on you!

I personally have not ventured down this path. Thats not to say that I would gleefully drop my high paying, highly stressful job at a drop of a hat if i had a string of ip’s making money!!!

I think it takes great big kahoona’s to chop off your only stream of cashflow to take up…[Read more]

i don’t believe this! The man is dead. Whatever happened to rest in peace!!!!! Sure he did some inexcusable things but has he not now paid the ultimate price??????

Same too with the death the other day of Sir Joh. Can’t believe how some small minded people who had a problem with the guy 150 years ago still begrudge him after his dead??? None of…[Read more]

my pleasure

Originally posted by kay henry:
neo,

I just wanted to make comment on your LVR calculation, because I think sometimes equity is seen as more simple than it is. Can someone *please correct me if I’m wrong about this, but I wanted to mention it because it does make a difference on how much useable equity one can have to make new purchases.

Caitlyn…[Read more]

in the current issue of API there is a pretty good write-up on feasibility studies for small developments including steps on how to write one up, particularly if youre presenting one to prospective financier’s etc. Eric.

Originally posted by The Mortgage Adviser:
Neo, do you think your friend would be happier doing exactly the same without using a LOC and at a lower interest rate?

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

I guess so Robert?? You’d have to ask him. I take it you’re not an advocate of loc’s???

trisha,

your total lvr for the 2 properties is 34%. you certainly don’t have problem with being able to purchase another property (assuming you are earning a decent income). like others have said here I believe you need to think about your investment and personal goals are. property is merely a vehicle to get there.

a friend of mine quite likes the set-up he’s using now which involves having an loc attached to the loan of the ppor which he then uses for deposits for ip’s that he buys. the balance of the ip is financed with a regular i/o only. he tells me that he is very strict with how he uses to the loc, with drawings only made of an investment nature only.…[Read more]

something is certainly not right in your numbers. can’t give you any pointers without knowing all the figures. can you supply these??

check this out:

http://www.firsthome.gov.au/

think you’ll find the answers you are looking for.

Eric

those low doc loans must be real killers!!!!

while you certainly have the equity to go and buy more property (your lvr is 53%), i suspect that you broker is knocking you back due to servicability issues, i.e. hubby’s low income and your irregular income. is there anyway that you can stabilise your income? once i could do this, I’d be going to see…[Read more]

the `11 second rule’ is ONLY a guide. if you’ve got “From 0 to 130 Properties…..” re-read page 34 again. It will explain everything.