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Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 6:22 am
You are certainly not old school Jo. I know what you get up to!!!
Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au
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Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
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@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 6:16 am
I recently bought (1/12/2004) into a 100% geared fund – Macquarie Fusion. I am awaiting the first set of figures but I chose 75% Australian Shares and 25% International. I consider this a much better investment return wise with the downturn in property prices recently and expected to continue for a few years.
Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
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@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 6:06 am
No need to tread on eggshells with me Jo. You know that!
I believe that those who borrow less do so because of their risk profile and / or knowledge regarding investments. They are the ‘old school’ who believe in one loan and paying it off quickly.
They usually do not seek alternative investments that require high gearing and don’t bother with insurances. For example, I am geared very highly. Should something go wrong and I can no longer work, insurance kicks in. If it is temporary, the payments are made until I can take over again. If it is permanent, all liabilities are paid out and I lose nothing (except my health or life of course).
Most people who get in trouble are the PAYE income earners who lose their job for one reason or another. Education is very important regarding ways to protect themselves. I do an Assets / Liabilities & Income / Expenditure sheet with all my clients applying for a loan and I don’t think I have seen a client yet who has adequate insurance. It is great for referrals to my Financial Planner but it is scary to think how many people can get hurt.
By the way, my Financial Planner is a member of this site and he is great. He is young and passionate about what he does. He knows his stuff! His name is Michael and his username is ‘Financial Planner’…GO FIGURE! You should message him to protect yourselves.
Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 5:56 am
Yes. It is working fine.
Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 5:05 am
In regional areas or small towns. Stay away from the cities as you will most likely not find anything suitable.
Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 5:02 am
Bruham,
Who said we are pushing this on people? I suggest you read the thread again properly.
These types of highly-geared loans are for those who can afford it – ie: strong serviceability. There are also loans out there that allow 100% – 106% for new purchases. The default rate is very low because of the strict guidelines.
Someone can lose their home at any level of borrowing. Usually, it is those with lower levels of borrowing that face problems.
What concerns me most is that you consider the people on this website to be “brain-dead dopes”. Why are you here?
Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 4:55 am
I am not aware of any LPT returning 15-20% p.a.
As for LIC’s, these are high risk unless they have a strict charter based on secure investments whereby their returns would be minimal.
Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 4:18 am
Can you tell us the town so we can buy property there? A new highway usually increases property values substantially. Unfortunately, your mother might not be so lucky.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 4:03 am
Anything is possible if it is agreed to by the vendor and the purchaser. This is a question for your solicitor as to including the right terms in the purchase agreement. If I was the vendor, I would be requesting the rent until settlement. It comes down to how well you negotiate.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 3:45 am
Why not use a lease option or a wrap?
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 3:15 am
Most people on here won’know what you are talking about. I must assme you are referring to the following…
LPT – Listed Propert Trust
LIC – Listed Investment Companies
NTA – Net Tangible Assets
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 3:09 am
I am not that innocent either. I did not send the usual gift basket or bottle of wine to my clients this year either. For me it was a cash-flow issue as I had to take on a heap of debt two months ago to help my brother out of a major jam and it has caused all sorts of cash-flow issues (for other reasons not worth talking about again). Anyway, I will make it up to all my clients in June with a “Happy end of Financial Year” gift that eclipses what I would have sent them for Christmas.
I am thinking I might try and strike a deal with Steve, or other seminar provider, to offer a free seminar to all my clients as well.
There are so many things that can be done. Any other idea would be GREATLY appreciated.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 3:00 am
You can offer a lower interest rate than the bank because the wrappee is paying interest on a higher amount.
For example, if the vendor bought a 100k property and only borrowed 60k, they may pay interest at around 6.5% on 60k.
The wrappee who pays no deposit would pay on the whole 100k and, if the vendor is generous, can charge them a rate of 6% and still make a spread on the difference.
60k @ 6.5% = $3,900 per annum
100k @ 6.0% = $6,000 per annum
What confuses me is that why would you also sell the property at cost? Time will see your investment decrease in value considerably as inflation eats it up. The only reason I can see for this is when trying to get rid of a property in a flat or downward market.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 2:47 am
What was his reason for not answering the questions about how much he charged for courses etc?
I have a favourite quote that goes something like this:
“In a gold rush, it is the ones selling the picks and shovels who gets rich”.
Rick sells ‘picks and shovels’.
I was also concerned that he could not concede that there are unscrupulous operators out there. He should have answered this in the affirmative without hesitation. It is the reason for having an association in the first place.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 2:39 am
Buying sight unseen is a personal preference. If you are happy with the numbers and feel confident with your propery inspection and legal team, then there is no reason why you wouldn’t buy sight unseen.
Buying sight unseen is very common especially with off-the-plan sales. These types of property purchases usually have ‘subject-to final inspection’ clauses though to give the buyer some protection.
I cannot stress enough how important it is to get an impartial final inspection done. Do not use someone that is recommended by the agent or the vendor in the area you are buying the unseen property!
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 27, 2004 - 2:33 am
While you are calling the lenders, why not call your phone company for a present and your electricity provider for another one? Maybe your health or life insurer might kick in as well. All I got was some crappy computer generated 10cent Christmas Cards from them.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 26, 2004 - 4:16 pm
That Rick Otton bloke is a bit of a weasel. I just read an interview done with A Current Affair posted on his website at http://www.financewraps.asn.au/media_releases.php?PHPSESSID=98ef5f8fa095eec3847ad2bc9bad2ea9
I can’t believe how he put Steve in it by associating himself with Steve to try and take some heat off. It is interesting how he avoided answering almost every question he was asked and continuously tried to promote his business.
I am not surprised if the Association collapses as I would not like to be represented by someone who is afraid to discuss his business publicly or concede that some people are disadvantaged by getting involved with wraps. This is obvious to all. People get ripped off in EVERY business. Wrapping is no exception!
He could not even give some indication as to what regulation he would promote. He likes associating what he teaches with learning medicine. I found that hilarious! How do you compare a course that runs for a few hours with one that runs over many years?
No offence to the wrappers out there who are doing it properly, as I am going to get further involved with these in the futue, but with a guy like this representing you, is it any wonder wraps have such a bad reputation in the media?
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 26, 2004 - 4:07 pm
If there is not enough equity in the first property, you would need another 20% and costs to avoid mortgage insurance. I would assume you would not have any equity available if you just started the first property loan.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 26, 2004 - 3:34 pm
Well-balanced Allan?
Whatever do you mean?
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd
Robbie B
Member
@robbie-b
Join Date: 2004
Post Count: 2,493
December 26, 2004 - 1:26 pm
I was tipping the USA myself brahms because of the ‘feet’ measurements.
Robert Bou-Hamdan
Mortgage Adviser
0414 347 771
[email protected]
http://www.mortgagepackaging.com.au
FREE Finance-Related Newsletter – Click Here
Comments made are of a general nature and should not be construed as individual advice.
Â© 2004 Mortgage Packaging Pty Ltd