Forum Replies Created
And alf, I knew what you meant!
I thought my second post explained my point.
Robert Bou-Hamdan
Mortgage Adviser
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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdThat is my point… it has nothing to do with a dog!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdANZ has one of the toughest serviceability calculators in the market. Don’t get disheartened.
I must also add that there are a lot of good brokers using this forum. Why not pick one???
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdCan you turn HTML code on???
The marketing possibilities are endless!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdA dog is the one with four legs, a tail and hair all over!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdIt is very easy to get the money in you situation. The hard thing is will you be able to pay for it???
With your $38,000 p.a. and a conservative expected rental income from the investment property (not to mention you will not be paying tax with that much borrowings – I am assuming it will be negative geared), if you service, there is no issue.
Give one of the brokers on here a call or send them an email. This should be a very easy deal to arrange for most.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdWhy not use the DEPRECIATOR who frequents this site?
He is professional and has established a large successful business doing what you seek. Call out to him… I am sure he will answer.
He is also a nice guy!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdUmmmmmmmmm….. YES!
Most of them will do it. The thing is that they will most likely want to use your group certificate figure and apportion it accordingly to determine what you would earn over the whole year.
There are ways around this anyway.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI think Steve’s first book provides a lot of low cost ideas to purchase or control property investments.
Robert Bou-Hamdan
Mortgage Adviser
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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdPut it all on BLACK!
Jokes aside…
Your brother is very generous. Yo only have about a million options open to you. You could buy a substantial portfolio in one swoop if you have no problem with gearing. The risk is that you will have to make payments if you have no tenants. This is highly unlikely to occur with all properties at once though.
I would only use a fully qualified spotter (ie: licensed). They are known as buyer’s agents. Check what they provide in the form of information regarding a property. If it is not substantial and enough to allow you to make your decision, then source another buyer’s agent.
Let us know what you decide to do.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdWell, the 3×1 and the 4×2 has confused me. Is this 3 bedrooms and 1 bathroom and 4 bedrooms and 2 bathrooms?
Have you discussed your serviceability with any lenders or a mortgage broker? You may be concerned for no reason.
There are many ways you could proceed to achieve what you want to do but without knowing all your details, the correct advice is difficult to give.
One option would be low doc if you have not done your tax returns yet for all your investment income.
Remember, any additional investment property purchases will add to your serviceability.
You can run through a serviceability calculation with most brokers from this website over the telephone. Try giving one a call to see what the result is.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdRegarding Anita Bell, I do not rate her books as any use other than how to find food in a garbage bin or make a bed out of old tyres…
Anyone can pay their mortgage off quickly if they strip their life of any dignity and live on less than what it costs to sponsor a child in a third world country. The hard thing is paying your mortgage off quickly AND living well!!!
Anyway, enough said about her books….
About whether it is too hard on one wage, that is a question for you when you do your budget. If you buy positive geared property then your income increases. If the property sits vacant, you have to cover the whole repayment yourself. If you feel comfortable that you can do this or have enough in reserve to cover you between tenants, why not have a go at increase your wealth and income?
Nothing is TOO HARD when you put your mind to it.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI would go with the positively geared strategy.
Owner occupied homes are your biggest expense, NOT your greatest asset!
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdeRR,
They borrow 20% deposit plus fees. This should be a maximum of 25% of the purchase price.
You mentioned up to 250k purchase so they would borrow $62,500 and give it to you as a ‘gift’ and you borrow the other 80% (ie: $200,000) to complete the purchase if your servicing allows this. If not, your parents would need to borrow more and you borrow less. The portion you borrow in your name is where you will get a repayment history.
I am happy to discuss this on the phone if you like or make an appointment with a mortgage broker who knows their stuff and they will talk you through it. It should become very clear how to structure the loans properly.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI am in between solicitors at the moment. I tend to find the worst of the worst. The person I am happiest with is only a paralegal and cannot do the necessary contract work. She can only do conveyances.
Robert Bou-Hamdan
Mortgage Adviser
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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdRental assistance from who?
Which department?
Robert Bou-Hamdan
Mortgage Adviser
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Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdHi Possie,
That thread that Derek posted went through a lot of the information you seek only a few days ago. I cannot highly recommend interest only loans enough.
The only time I would consider principal and interest loans is if the borrower was not able to control themselves with cash.
In any case, don’t waste your money on a Line Of Credit either. They are of no real benefit to property investors.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdThere are heaps of cheap and FREE chat rooms available that intgrate well.
Regarding the share discussions, I don’t see ASIC having a problem. Nothing is being sold throuh the site so there is no licensing issues.
The reason I would prefer it here is because I don’t like jumping around to different forums. I prefer everything in the one place.
I don’t like 100% shares only discussion anyway. I like a mix of different investment discussions.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdIt won’t cover you against problems but it will tell you who is responsible.
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty LtdI am heavily leaning towards lease options. Who is the resident expert on lease options here?
Robert Bou-Hamdan
Mortgage Adviser
http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
