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  • Profile photo of nitrodropsnitrodrops
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    @nitrodrops
    Join Date: 2009
    Post Count: 132
    May 17, 2009 - 4:52 am

    Thnx all for all the kind replies. Much appreciated.

    Looking for a investment property in Brisbane now.

    Have a qns :

     At the moment, the prices seems to be inflated due to the FHOG, shall i wait till FHOG end? in the coming months, there will be more job losses, hoping the prices will be corrected.

    Cheers
    Nit

    Profile photo of nitrodropsnitrodrops
    Member
    @nitrodrops
    Join Date: 2009
    Post Count: 132
    May 17, 2009 - 4:43 am
    kimandglen wrote:
    Hi Nitrodrops,

    This will probably sound like a bit of a sell but maybe you should look into refund property. It is a branch of refund homeloans but is geared around 1st time investors and like the rest of their products it doesn't cost you a cent. They act like a buyers agent however they still make their money off the developer you buy from. They also will tell you what questions you need to ask your accountant and solicitor so you are going to get the best return for your investment.

    They have seminars around Brisbane and if you go to  one, let me know how you go.

    Kim and Glen

    Thanks mate. Just a query, does this 'refund homeloans" only applicable to 'off the plan' (Brand New) properties?

    Profile photo of nitrodropsnitrodrops
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    @nitrodrops
    Join Date: 2009
    Post Count: 132
    May 14, 2009 - 6:45 am
    god_of_money wrote:
    Richard should be able to help you. I don't think he charges any commission up front.

    Solicitor… I always go to property lawyer… a bit expensive..200 dollars more than dodgy solicitor.
    I always asked for building and pest inspection… plus/minus ACCREDITED valuer

    thanks for ya reply mate.

    Being a newbie,

    1.) can i ask why is a property lawyer always much preferred than a dodgy solicitor?

    2.) And for my case, i will be going for an apartment, is it still wiser/safer to go for a property lawyer? i dont mind paying a little bit of premiums for better job, since this is big ticket item.

    3.) Also, does the property lawyer throws in "building and pest inspection" package in his deal? and what does "plus/minus ACCREDITED valuer" means?

    Sorrie for asking so many qns.

    Ta

    Profile photo of nitrodropsnitrodrops
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    @nitrodrops
    Join Date: 2009
    Post Count: 132
    May 14, 2009 - 6:40 am
    mattnz wrote:
    For 400k property at 2.5% that is $10k, so I imagine that would be an insult.

    I could recommend Richard Taylor (regular forum poster) as a good mortgage broker and I am sure he could point you in the direction of a great solicitor there.

    Personally I think it wouldn't be wise making unconditional offers.

    Thanks for ya reply.

    Are you saying paying 2.5% is an insult to the buyer agent?

    I will try looking for Richard 8)

    Profile photo of nitrodropsnitrodrops
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    @nitrodrops
    Join Date: 2009
    Post Count: 132
    May 13, 2009 - 11:16 am

    living in Brissie, looking at inner-west areas.

    Met an agent today, and was quoted

    1st $18K  = 5%
    Thereafter = 2.5%

    I have been reading Mortgages magazines for sometime, what i need from him is maybe some less hassles

    1.)  finding a good mortgage broker
    2.) Solicitator
    3.) negotiating with the seller, able to provide expertise by judging the property if it requires any pest-inspection and etc, as not to  waste anytime in offering to the seller with any conditions, since apartments within this bracket is pretty in demand now

    Thinking to offer him $2k for his service, not sure if $2k is too low or ridiculous low. Dont wish to be unreasonable to him.

    Cheers
    Nit

    Profile photo of nitrodropsnitrodrops
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    @nitrodrops
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    Post Count: 132
    April 27, 2009 - 12:55 am

    Hijacking this thread for a while.

    Btw, what is the longest Fixed Rate lenders offer? I have seen only up to 10years for fixed rates so far. How about 15years or 20years?

    Cheers
    Nit

    Profile photo of nitrodropsnitrodrops
    Member
    @nitrodrops
    Join Date: 2009
    Post Count: 132
    March 16, 2009 - 9:55 am
    Terryw wrote:
    IO is the only way to go in my opinion. 100% offset is great too

    reasons (some):
    – Lower repayments
    – same interest savings as if paying in the loan
    – frees money up to invest elsewhere
    – Less tax complications if you need to
    – ability to pay like PI and reduce payments anytime without changing the loan

    For IO only, if the loan is stretched to the 30year loan, does it means the buyer can opt to change from IO to PI anytime during the
    30year loan?

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