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Robbie B
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@robbie-b
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Post Count: 2,493
January 11, 2005 - 5:19 am
Originally posted by nathan210:
she will … not receiving an income from it?
Terry???
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
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January 11, 2005 - 4:39 am
Congratulations!!!
You will be SO MANY TIMES BETTER OFF!!!
I would be interested to hear how it goes.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
Post Count: 2,493
January 11, 2005 - 4:31 am
On a $300,000 loan, interest only payments equate to…
Loan 1: 7.04% = $1,760.00 per month (no fees)
$2,010 more than Loan 2 in one year and $3,150 more than Loan 3 in one year
Loan 2: 6.37% = $1,592.50 per month ($720 first year and $120 additional years)
$1,140 more than Loan 3 in one year
Loan 3: 5.99% = $1,497.50 per month for 12 months and then $1,592.50($720 first year, $420 second year and $120 additional years)
Cost over 5 years including fees….
Loan 1: $105,600
Loan 2: $96,390
Loan 3: $95,910
This all seems pointless when you could just take an interest free loan!!!
I have to ask Myydral, did you use a mortgage broker?
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
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January 11, 2005 - 4:13 am
Yeah, I can see how 7.04% is better than 6.37% or 5.99%.
I must have missed something!
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
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January 11, 2005 - 4:11 am
Personal loan to buy investment property????
That is just crazy!
I would suggest going with standard type security first to build a base and when you have good excess funds or equity, then buy things that you can not use later to borrow more against.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
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January 11, 2005 - 4:09 am
She wil also NOT be able to deduct anything on that property as it is not available on the open market for lease at standard rents.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
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January 11, 2005 - 3:39 am
Kez, have a chat to an accountant. May I suggest Mark Unwin?
He can be contacted at [email protected]
He is doing my structure as we speak and it sounds very similar to what you want to do.
When I grow up, I want to be a storm trooper!
Robbie B
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Join Date: 2004
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January 11, 2005 - 3:37 am
I am asking what was meant by “snap”.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
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January 11, 2005 - 3:36 am
Sorry people. I can’t help you guys with individual information through this website anymore. It seems the more people I help, the more trouble I get in so I will just stick to general babble.
You will have to email me through my website or directly to get individual responses. I am not responding to any PMs or emails sent from PI.com. My email has been switched off through here in any case.
Sorry for any convenience.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
Post Count: 2,493
January 11, 2005 - 3:31 am
Do you have to reply to mine?
Much better Terry. Now you are giving nearly ALL the information instead of just enough to get people to contact you for loans. By the way, it is discretionary over $500,000. I guess my relationship must be better huh? [baaa]
You asked me to get back to business Terry. Don’t you remember your post yesterday? As you seem to be the only one posting about finance, I will respond to every post.
What would I know anyway???? My biggest aspiration in life is to become a Storm Trooper!
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 3:26 am
I am talking about ‘advantageous purchase’ policy does not apply here. You are giving people false hope.
And Terry, I quoted you ONCE for a reason.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 2:49 am
It matters if you get audited!
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 2:47 am
A TRADING company is a good idea.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 2:42 am
No they don’t Terry. The maximum discount under Breakfree ‘policy’ is 0.6%. You can only get 0.7% as a matching policy and it is ‘discretionary’. They will consider it on loans over 500k to match St George but you have buckleys of getting a LOC at 6.37%. In a tight market, you will be lucky to get 0.7% on standard loans even at 750k borrowing to match Colonial.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 2:35 am
That is a whole different scenario to the one this thread is about. There is nothing special there. Almost all lenders will do this. Thy are just looking for “hurt” money!
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 2:18 am
If you are selling within 12 months, I would be using a company and capping the CGT at 30%.
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
Post Count: 2,493
January 11, 2005 - 2:17 am
Is that supposed to be a 0.7% discount on a LOC Terry or are you recommending their Pro Packs or Breakfree?
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 2:15 am
“Snap” ?????
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
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January 11, 2005 - 2:09 am
Originally posted by terryw:
BTW, brokers can just order the val themselves without going through the ANZ network.
I am aware of this.
I have to ask though, why do you find a need to revalue property within a month of the initial valuation and how do you get a 30% increase in a month?
Why didn’t you just get the higher valuation done the first time instead of going through the hassle, and sometimes the cost, of increasing a loan?
When I grow up, I want to be a storm trooper!
Robbie B
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@robbie-b
Join Date: 2004
Post Count: 2,493
January 10, 2005 - 3:38 pm
Sounds like a 100% deal to me!
When I grow up, I want to be a storm trooper!