paulmeese replied to the topic best mortgage in the forum Help Needed! 17 years, 9 months ago
Hi Cathy
Thats a fairly open question and you could get many a varied response,maybe if you defined your question down to a scenerio of sorts you might acheive what your after.
There is no best lender as it depends what best suits you
cheers
Paul
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic Interest Only Loans in the forum Finance 17 years, 9 months ago
I currently have interest only loans on all my properties that allow me to make extra payments and lump sun deposit with no penalty if required.
Why would consider Principle and Interest loans when you have a facility like this available to you
Cheer
Paul
I
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic Making Multiple Offers in the forum Help Needed! 17 years, 9 months ago
Not to state the obvious but you need to make an offer ,any offer so you have a platform to work from.
I would also suggest all offers are to be subject to finance,building and pest etc.As you generally buy property for the long term does it matter if you pay 5 or 10 % to much now in ten years it will be irrelevant as the property will have…[Read more]
paulmeese replied to the topic Advisors. in the forum Help Needed! 17 years, 9 months ago
If i had a lazy $1000 an Hour i would sit with Bill Zheng, he founded his Broker business Investors direct just over 4 years ago and has grown a client list well into the thousands, not bad for a guy that couldn’t speak of word of english when he arrived in Australia.
cheers
Paul
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic Fixed v Variable? Thoughts … in the forum Help Needed! 17 years, 9 months ago
All my loans and majority of my clients have variable on both PPOR and IP loans.
Our lender gives us an interest only product that allows us to make extra payments and lump sum without penalty, why would you want a principle and interest loan when you can still pay down your loan on this type of facility
Cheers
Paul
Make your money work for…[Read more]
paulmeese replied to the topic Business, Trust, Company etc… in the forum Help Needed! 17 years, 9 months ago
Hi Guys
I have a 2 page brief that outlines the different trusts and their uses it might be of some value to some of you.
If you send an email to [email protected] i will send you a copycheers
Paul
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic Passive income apart from property? in the forum No Subject 17 years, 9 months ago
Hi Guys
To all of you who are serious about creating wealth you would know that property is great for long term wealth creation but you also need to look at ways to generate monthly cash flow.
I utilise the share market , you can generate on average 2-3% per month writing calls against shares you own or you could look at trading CFD’s where it…[Read more]
paulmeese replied to the topic Starting out from scratch in the forum No Subject 17 years, 9 months ago
Thats understandable you might disagree and promote your own company, i am merley offering some insight to the readers in to what many of my current clients have acheived and have a proven track record doing and increased their wealth significantly over the past few years
I to have a healthy client list of whom 80% are active investors and as a…[Read more]paulmeese replied to the topic Starting out from scratch in the forum Help Needed! 17 years, 9 months ago
Hi Guys
As a Finance consultant and investor in both property and the share market myself you could talk to 20 people and get 20 answers.
For anyone who is starting in this game i beleive you should spend sometime attending a few wealth creation seminars that currently do the circuit, these seminars have created the foundation for many succesful…[Read more]paulmeese replied to the topic Investment Land Purchase in the forum Help Needed! 18 years, 3 months ago
Do you know what it is valued at today
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic need to refinance my servicing apartment in the forum Finance 18 years, 3 months ago
i have been told by others that Bank west will do serviced apartments.
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic When can I refinance? in the forum No Subject 18 years, 3 months ago
The horse is named Friday
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic anything i can do ? in the forum Help Needed! 18 years, 3 months ago
You have $50 – $90k worth of equity depending on if you wish to utilise mortgage insurance plus they will take the expected rental as income.
You need to find out what your lending capacity will be so you can determine what price range to you are looking at.Ring a broker and have them do the numbers for you, it’s free and they should be able to…[Read more]
paulmeese replied to the topic How do you get Top Dollar Valuations in the forum Finance 18 years, 3 months ago
What you need to consider with valuations is that they generally are valuing based on what they presume you can sell that property for with in 30 days if required and they will look at what has been sold in that area over the last 12 months.
As far as valutions go we conduct pre application valuations for our clients prior to submitting an…[Read more]paulmeese replied to the topic Convert IP loan from IO to P&I? in the forum Finance 18 years, 3 months ago
It depends how you veiw it,a P/I loan will be a higher repayment which means more cash out of your pocket and you can’t claim any of the principle anyway
For eg a $300,000 loan on P/I @ 7.5% will cost $2097 per month and on interest only will cost $1875 per month so you are paying an extra $222 per month or $2664 per year.(not deductible).
Your…[Read more]paulmeese replied to the topic Interest Rates in the forum Finance 18 years, 3 months ago
Hi Boatie
Just out of curiosity why are you looking to sell when you could look at refinancing those properties for minimal cost(as opposed to selling costs and capital gains)draw down on the equity release which you could then use to service the current shortfall in repayments and possibly buy more properties and be well on the way to building a…[Read more]
paulmeese replied to the topic How to make money on selling land with deposit dow in the forum Help Needed! 18 years, 4 months ago
capital gains is all ways an issue if property is sold within 12 months,but i guess thats just part of the game.
I do beleive we paid stamps as wellPaul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic Fist post but interesting problem in the forum Help Needed! 18 years, 4 months ago
such a shame to have all that equity lazing around not working harder for you,have a look in to the share market and writing covered calls there are broking houses averaging 3% a month and better on your portfolio’s and they can margin on your money by 50% to give you more exposure.
For those who are risk adverse you are able to simply cover…[Read more]paulmeese replied to the topic When can I refinance? in the forum Finance 18 years, 4 months ago
This is unfortunately one of the pit falls of borrowing 100%,you might need to hold on until the equity has a chance to grow as most lenders will look at a 90% refinance or possibly even a 95% if it is a single debt refinance.
Paul Meese
Onyx Finance
[email protected]
0412 850 820paulmeese replied to the topic Property bust not here yet … worse to come in the forum General Property 18 years, 4 months ago
Hi to all
I attended a seminar recently for a prominent property developer/investorgroup and they offered us the following advice in regards to the property cycle and where we are at the present
Uptrend Brisbane,Melbourne
at peak West Australia , Darwin
Down trend Canberra,Adelaide
at the…[Read more]
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