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I will ask around for you and if I find anything that might help, I will post it here for you.
Good luck and Merry Christmas.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Can I just say before you go out buying a heap of small offices, car parks and storage units that you discuss it with a mortgage broker.
These items are very difficult to refinance or finance in the first place. Utilising equity later to increase your investment holdings, replicate if you like, will be difficult.
The return on investment should not be the only consideration. Suitability of security should also be a major factor. What one person thinks is a good deal will be discarded by many investors because they can’t keep growing if they buy unsuitable security types. One solution is to diversify your portfolio and make allowances for these problems.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
You are in a fantastic position. You would only be restricted by your imagination. Have you looked at the “Investor Strategies” link on the left? It is very informative.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Just about how much equity you have, I just posted this…
https://www.propertyinvesting.com/forum/topic/14431.html
It might help a bit.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
There are a few lenders who consider using casual income if it is established, regular and ongoing.
You are right though, it can be a struggle!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
While the likes of Meriton and Lend Lease keep building these over-grown beasts all over the place, I can’t see unit prices coming out of the slump in the short-medium term. I see them further declining as building are being completed.
On the upside, I think house prices may quickly stabilise and start moving up again as the more sites that are developed for units, the less houses there are in an area creating almost a demand-pull effect.
With that said, are there any punters out there interested in wrapping a unit (or two) that I have available in Sydney? One is in Green Square (two bedroom loft apartment, rent 400 p.w.) in a low rise development and the other is a one bedroom unit with water views in Dee Why (rent 380 p.w.). Each are going for $520,000 on a wrap at 7.5% p.a. Purchaser pays all costs to get paperwork done. Will also consider Lease Option or outright purchase. [blink]
Contact me privately if you are interested. If you feel the need to insult me, do it here! [baaa]
Before you ask, I bought these to help my brother who was in a little trouble. I would never have bought these otherwise. I like positive cash-flow!!!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I think the fixed price contract would be the best option because then you could get a loan on future value of the completed project.
I am a little confused though. If the land cost you $15,000 and the cost of the house, relocating and installing it might go up to $100,000, why would you sell for around the $110,000 mark when the whole thing is costing you $115,000 not to mention your time?
Would it not be cheaper (and easier finance wise) to buy an existing comparable home for $105,000???
I think you should sit down with a mortgage adviser and go through all the numbers and the complete situation so they can advise you properly. Most brokers you approach should be able to help you with this.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Are you able to get a fixed price contract to relocate and install the house?
What do you expect the value of the completed project to be compared to existing properties in the area?
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
It is a difficult one to do as the land value is only $15,000 (was that a typo?) and most standard lenders will not secure a loan against a transportable home only. Serviceability does not appear to be an issue.
You will need to go to alternate lenders which means the finance will cost you more. You might be able to get away with a construction loan if you can somehow get a fixed price contract for the home to be complete on the land.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
A ‘vanilla’ deal is a simple deal to put through. How much are you requiring to borrow and do you have any other security property anywhere?
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
If the block of land is suitable security, you just get finance secured against the block of land. What you do with the funds after settlement is up to you. Hopefully, you should be able to get more than enough out of the land to buy the relocatable home and pay for the costs of moving it and setting it.
It sounds like a ‘vanilla’ deal unless there are some details you are leaving out that makes things harder.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
It is not the vendor you need to worry about – although they might see it as a good deal and do it themselves. It is the LENDERS who do not look on them favourably.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Regarding Question 1:
Initial outlay = $0
Regarding Question 2:
Opportunity cost is considered in every transaction / situation we ever undertake throughout our lives. Here are some queations people ask themselves…
If I buy this hamburger instead of this salad, will my waste line suffer?
If I travel for a year after university, how much income would I have lost?
If I buy this house instead of investing in the stockmarket, would I make more or less?
If I stick my money under my mattress, what will it be worth in ten years when considering inflation?
If I commit to a relationship, how many fun nights will I miss?
If I jump off this cliff, will I get a wedgie when I hit the water (if I live)?
Anyway, I think you get what I am getting at. The formulas are just used as a guide to determine a result.
Regarding the follow on question, for the CoCR, you only use money put into the deal. You would also consider the interest and other expenses for the cash flow calculations. For opportunity cost calculations, you would consider the returns on the whole lot as opposed to investing elsewhere or doing nothing.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
That is a tricky question Kiwi.
Directly, I own 4 with a 5th settling in March. Indirectly, I own a lot more.
I am aware this is a property website and I am a Mortgage Broker, but I am a firm believer of not putting all my eggs into one basket. I have investments in various different areas as I am sure Steve and Dave also do. I doubt that PropertyInvesting.com has the intention of advising people to ONLY buy property investments but rather helps people who choose to buy property as part of their overall investment portfolio through educating them.
You should have a few over there in NZ. They are cheap!
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
ANZ have not cut rates for Mortgage Brokers – well not mine! They are still looking into it through their New Zealand subsidiaries to determine it’s viability. If they do drop them, I am certain they will quickly bring them back up again as Mortgage Brokers have a lot of places to go for loans.
Macquarie increased rates as a result of the talk about commission drops to stick it to the banks. Others will follow like RAMS and Liberty.
Regarding the talk about McDonalds, I read this interesting snippet a few days back:
6 December 2004 – McDonalds now top spot for cash out
Financial Review 06/12/04
The McDonald’s fast food chain claims to be the biggest dispenser of cash via Eftpos in Australia. Customers are free to use Eftpos in McDonalds to withdraw cash, even if they do not buy anything. Research for big retailers undertaken by TNS Consultants found convenience was the main reason someone uses a bankcard to pay. Consumers don’t clearly distinguish between payment methods, mixing up card brands, card types and banks.With this sort of turnover for banking transactions, the new question is imminent….
“Would you like a HOME LOAN with that?”
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
It is basically just another accounting service.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
That is not necessarily true. Usually, if someone does not know something and they have no time to learn it, they seek advice from professionals. This is always a good idea regardless how much you read. Talk to people you know who have bought property as welll.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
That ia very good to hear. I will see what pans out.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
I noticed the promo in your signature is gone!!!
[biggrin][biggrin][biggrin]
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
Try a property trust to park your money or leave it in an ING, Citibank or BankWest account to earn some interest. Keep saving and wait until you have a solid job before investing in your first property in case things go bad. Be patient, you have plenty of time.
Robert Bou-Hamdan
Mortgage AdviserM: 0414 347 771
E: [email protected]
W: http://www.mortgagepackaging.com.auFREE Finance-Related Newsletter: See – http://www.mortgagepackaging.com.au/index_files/newsletter.htm
Comments made are of a general nature and should not be construed as individual advice.
© 2004 Mortgage Packaging Pty Ltd
