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  • Profile photo of newJonewJo
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    @newjo
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    September 9, 2012 - 12:44 pm

    They are excellent suggestions, I will be implementing immediately :)

    I do believe it is currently a good area, and this research will certainly give me confidence or alternatively show me up if I am wrong.

    But I am also worried about the new developments and the effect they could have on the current market.

    Profile photo of newJonewJo
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    @newjo
    Join Date: 2012
    Post Count: 10
    September 2, 2012 - 10:55 am

    Thankyou for your responses. I think I am not ready after all to go ahead and put an offer on… there are still things I need to sort out.

    However, this question will pop up again I am sure when I am ready, in a different house I suppose… hopefully in a few weeks time for me… so it isn't redundant…

    The town is very large and has many real estate agents. The agent however is one of the smallest in town so it seems and I'm not sure what impact that has but it occurs to me that a smaller agent may well be a good property manager assuming the fees are good and so on.

    The vendors are a couple looking to sell and purchase a larger home. So I suppose they are in a good position just to wait for a better offer.

    Profile photo of newJonewJo
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    @newjo
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    September 1, 2012 - 10:14 am

    Lots of people have looked but no responses! Please let me make this more general to make it a worthy topic :)

    How low do you go?

    Do they expect you to offer less than the asking price?

    Is this part of the negotiating process?

    Is there a level which will be taken as an insult?

    Or do they usually ask much lower than they actually expect to suck in people like me?

    Profile photo of newJonewJo
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    @newjo
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    September 1, 2012 - 7:09 am

    Thankyou what great responses! I have been somewhat ignoring this whole aspect as I feel quite loyal to my bank and figured they would know what to do but of course that is a pretty risky attitude. (They  took a chance on us when no other bank or broker would look at us).

    Offset is certainly the way to go then. In the back of my mind I do wish to buy a new PPOR at some point and my PPOR is CF+ as it stands. (But not soon).

    Also very good to know that a combined loan is not the way to go. And yeah, the whole IO stuff makes sense but it does make the CG weight more heavily in my mind.

    @slowachiever no that was perfectly fine, we are talking loan strategy after all and that is a possible option :) Although not good for me I don't think.

    Profile photo of newJonewJo
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    @newjo
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    August 31, 2012 - 1:57 pm

    Thanks for your answer :)

    I have 150K left in my PPOR plus an additional 30K of redraw and the last valuation was 400K but I fear the value has dropped since then.

    What is the benefit of offset if I can just put my money into redraw as I currently do? Does an offset account decrease both properties?

    I worry about an interest only loan because then I am purely gamboling on the CG as opposed to some kind tenent paying off my mortgage. Have I the wrong mindset? Without the CG I am just as well off paying my own mortgage without the hassle???

    Sorry if that sounds negative but it is what I worry about and curious for the thoughts of investors, and/or putting my mind straight about the importance of CG…

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