You wrote every thing perfect! and Plan is ok I think you must be knowing you might have to pay high penalty when you will leave your current loan if it’s new loan.
If Tims got $100k equity in Australia according to me he should get get 80% 90% or 95% loan here (with LOC or other way depends on him) so he will have lets say at 90% of $100k to play with in OZ. now with this $90k why should buy only property in NZ for $90k (ignoring currency exchange etc) when he can borrow $900k theoretically with the help of this $90k in NZ and buy 10 properties
Yes it was sort not short. When person get money in Australia and buy in NZ without getting any finanace it’s cash buy in NZ.
Why not borrow 95% here in australia and and using that money buy multiple property there ( borrowing more there) instead of wasting all your money for one property.
Hi Tim,
Welcome to forum. I am agree with Terry better you get 90% loan there ( with LMI ) or 80% ( without LMI ) instead of buying sort of cash there.
>>When i look at some of the upfront commissions paid to brokers and trailers by some financial institutions its amazing. I could have gone through the front door and got the same deal.<<
It’s not coming from your pocket so why thinking about it?? going through a broker is BIG FRONT door..
>>I have not at this stage seen that mortgage brokers i have had some communication with can pull anything special that is worth the money being paid to them by the financial institutions and not really getting me anything better.<<
May be you never met good broker… the amound of work has to been done behind the scene you won’t even realize..
How can you say bank people can give you right advice when they have only one bank product? Do they give you comparison sheet comparing couple of bank products?
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It’s good to have Hybrid trust. now you have to decide if you want company as trustee or your self as a individual trustee. it’s hard to say without knowing your full situation I think you should talk to accountant for this. but Keep Hybrid trust in mind. Get Book “TRUST MAGIC” to learn more about trust.