Hi brmiau,

Be very careful and ask important questions before proceeding. First question would be the one highlighted by Benny, ask if your MB is planning to cross-securitise your loans.

You could potentially unlock $63,000 of equity from your own house which will be set up as a separate loan split from your home loan.
And then apply for another…[Read more]

Hey Michael,

After loan application, the file will be passed on to the credit assessors which will determine what type of valuation needs to be conducted.
Also, your broker can order a full valuation for you. You can also challenge the val if you really think that the valued price is incorrect. Just gather all the supporting documents to prove…[Read more]

Wiwin,

Median price and average market value is not the same. Be careful not to get confused there.
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Cheers!

Wiwin,

Just to add to Terry’s points, Trust can also be used by people on PAYG but in a high risk of litigation. Like people in the medical field.

To the OP,

Dave I hope you find these tips useful as well.

Hi Kurtuk,

Just let us know how you go. If you have anymore questions don’t hesitate to come back here. Thanks!

Hey Achimy,

To add to Richard’s points.
– look for someone your are comfortable with. People do things differently so once you have identified the “checklist” that you need in qualifying a member of your team, also look for people that you are comfortable talking to and someone that explains things to you in a way that you can clearly understand.

Woops! Sorry Terry.

Kurtuk,

Apologies for the incorrect info there. All I’m trying to say is that Terry is awesome! :D

Cheers!

Kurtuk,

You questions and situation is all about tax. So get a property savvy tax accountant as mentioned above by Catalyst. A lawyer is needed if you require legal advices.

Let me tell you a secret… Terryw who just replied to you is a property investor, a tax accountant, a lawyer, and a finance person. I’ll definitely give him a call.

Cheers!

Hi Stera,

No one can really tell when would be the “right time” to sell as there really is no guideline stating that your decision of selling now is wrong and selling in 12 months time is right. This is due to the reason that no one can predict the future. You can however refer to historical data and see the trend of the area where your property…[Read more]

Thanks for sharing this info OS. :D

Thanks for the info Scott No Mates, I was keeping an eye on this thread as well as I wanted to know the legislation or policies for this type of scenario.

Hi Kurtuk,

What does your due diligence tell you?
Have you crunched the numbers for both scenarios?
Personally, I will diversify to two or three investment properties. Yes, more stamp duty, rates, bills but you factor all that before buying. You should have the numbers worked out already before buying. If worrying about multiple bills is the…[Read more]

* 4 shares and each share puts in ‘X amount’ for deposit,(3 singles and 1 couple)*

This looks easy on paper. But wait till you enter a problem where one can’t repay his part for whatever reason, or 2 members wants out of the deal, etc etc. If you still want to proceed, contracts needs to be signed and every responsibility and “what-if” sce…[Read more]

Hey Pati,

I agree with the general consensus.
Student apartments is a risky investment and generally does not give a very good return.
There are so many factors that needs to be considered. These variables adds to the risk level of the investment, with more variables to keep in mind, chances are, Murphy’s Law will do his work.

Not a really good idea if you really are serious about property investing. Unless you have an established network and a really good relationship with the right people, then just invest here in Australia. Better returns and safer (not referring to investing, but a life and death type of safe) This may sound extreme but you can get killed easily…[Read more]

i was curious as to why you don’t want to tap into your equity. was this advised by your old broker?
my only guess would be that you have probably calculated a negative cashflow if your current IP loans were to be topped up.

Exactly!

Rental guarantee = alarm bells (very loud alarm bells)

Caveat Emptor.

Cheers!

“If you don’t ask, the answer will always be no.”

Hi buddy fox,

Please tell us your two IPs are not crossed? If it is, you need to get this fixed ASAP before doing anything else.
20k savings is not enough for your target price range. Why don’t you want to use equity in your IPs?
The information provided is very limited for us to provide you with a much more accurate answer.

I would focus on…[Read more]

Most of the brokers that post here is not affiliated to just one bank. There’s a big difference between Mobile Lenders who just works for one bank alone, and a mortgage broker who works for the client and has around 20+ lenders behind them and will surely recommend that right lender for your goal. It starts by assessing your situation and asking…[Read more]