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API is a good source of background information. But be aware of the advertisements — a few friends were attracted to some ads and were relaxed about doing their own due diligence. They ended up with big disappointments.
Ed Nixon from Trilogy Property Investment Funding
http://www.trilogyinvestmentpropertyfunding.com.au/about-us/ed-nixon/As mentioned in the initiating post, the loan is interest-free, capped at $10k and the maximum period of loan is 4 years.
I thought the loan guidlines specifically said that the loan should be for "the principal place of residence". Can anyone confirm that you can get the loan for your investment property, or better still for multiple investment properties?
Cheers,
A friend is building through them right now. His experience so far is not very happy. They reduced his inclusion list a couple of times, and is not very proactive in assisting with his building process — which is yet to start although the contract was signed in Sep/Oct last year.
I think in ACT, there are suburbs where rent is higher than paying the mortgage. So it would make more sense to live in your own home if it is cheaper. In addition, ACT is a reasonably stable town. You can always rent it out when you don't live there.
Most of the sales and rentals are available on allhomes:
http://www.allhomes.com.au/Cheers.
Hi,
I'm not recommending it but you can order your free DVD from Alliance Corp
http://www.alliancecorp.com.au/
I ordered one and watched it a couple of times, and agree with the principles and strategies that they promote.
Cheers.
I don't have a LOC but have a redraw facility for my PPOR and investment property — payment over and above the required P&I (for PPOR) and Interest (for IP) are available for me to take out at any time and the bank does not know for what purpose I use the money.
In your case, your bank has agreed the LOC, whatever amount in your LOC is yours to use. I can see no restriction on how you use your LOC, unless the bank has imposed the restriction before hand.
Cheers.
Like many previous comments, I find this threat very informative and interesting — about investing in QLD mining towns in particular and investment cycle in general.
Just wonder if anyone has any insight on Surat Basin, for towns such as Dalby and Chinchilla?
