Forum Replies Created
BUY IN GERALDTON!!!
Please note… I own property in Geraldton and the above comment is totally biased!
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 LtdJust so you all know what I think of Geraldton, I just bought this…
I got it for $60,000 with $2,000 deposit and settlement in July. In case you are wondering why, that little structure on the land costs nothing to maintain as it is commercial and the rent pays the finance. Also, and most importantly, there are two large blocks of land which are separately titled. I have already been offered $35,000 just for the empty block. That means I can keep the land with the shop for $25,000 and it rents out for around $100 per week.
Why am I telling you this??? I hope a lot of you also think Geraldton is a good spot to buy in and you all buy up the town. This way, my property will increase in value!!!! hehehe
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 LtdWarren Buffet invests in companies that he then controls. You can’t control the town so you have no say in its success. I would diversify!
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 got paid $1,000,000 and made $50,000,0000 profit but I am not going to tell you how I did it!!!
Hmmmmmmmmmmm….
I would guess you were asleep. Anyone can say they did anything without the need to prove it. I would like to get in on the time machine as well!!!
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 LtdJen,
The reason you are having trouble buying more is because of the ‘QUALITY’ of the security in my opinion. If your returns were so good, each purchase would mean your serviceability would improve. I would love to know what ‘TYPE’ of properties these are. Sounds like caravan parks by all the subsidies etc your tenants are getting which I HAVE TO PAY!
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 LtdProperty Guru,
I guess the invitation does NOT apply to everyone.
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 LtdAn ‘indicative’ offer means it is subject to change. To lock in a fixed rate, most lenders will charge a fee (usually 0.15%) if they offer this service. In Dazzling’s case, it would have been worthwhile as there was a 0.26% increase in the fixed rate.
In any case, wholsesale rates recently increased and some lenders are moving things up slightly to account for this. They may or may not come back down again.
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 LtdOriginally posted by Pitt St:1. As I understand it Derivex has pretty tight servicibility criteria (I looked at my own situation and realised I could borrow $40k less than I currently have if I used Derivex – and I know I can still borrow more atm using the big banks). So this actually retards housing demand.
I think there must have been an error in the calculation here. Derivex base their calculations on ‘CashFlow’. There is no interest component and they lend up to 100% of the property value. If your rent is solid and it is more than the principal only repayments (ie: at least 5% net), and/or your income is good, there is no way you could borrow more through normal channels.
2. What sort of take up of this product do you expect? Unless it becomes the market leader with well into double-digit market share – or unless copy-cat loans emerge and between them the mortgage market is turned on its head – then all we are talking about is a small section of one part of the economy.
I believe the take up rate would be easily into double digits. Copy-cats will take time to work it all out and get established. This offering does not only apply to property (as in houses). It can be applied to any tangible property (eg: block finance for phone companies). I am very impressed with the structure.
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 LtdWho cares how they make money? They cannot take back your funds (or property) unless you default like any lender would.
Why would you want to refinance? There is a fee in the first few years but no-one else offers interest free loans.
There is no poblem getting more money if you have some equity. It is far more flexible than any lender I have seen.
The contracts require solicitor sign-off. If the contract does not make you feel comfortable, don’t sign it. You will not risk anything at all if you just have a look at the offering for yourself.
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 LtdPitt,
My concern with Derivex also includes the reduced cost to hold properties resulting in increased spending in other areas. If the property market picks up again, more jobs will also result in more spending and so on and so on… Will this not cause upward inflationary pressure and potentially be a major cause of future interest rate increases?
Then again, the Free Trade Agreement with the US has kicked in and we should see more jobs in Australia and some cheaper products coming through. It is confusing times as far as I am concerned. I am still comfortable with rates remaining pretty steady for the short-term.
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 Ltdmgr,
Tell him your interest rate.
Westpac are not the most competitive when it comes to international 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 LtdIt is illegal to record someone without their knowledge but what you said is a good idea. Make sure you pull it out and press record and then ask loud enough for the tape to hear:
“DO YOU MIND IF I RECORD THIS CONVERSATION”.
Make sure your get her saying yes on tape as well otherwise it will be worthless.
As everyone else has said, contemporaneous notes (notes written at time of incident) are very powerful and admissible. I would also send a copy of some of the notes with a WRITTEN complaint to her superiors to protect you against unfair dismissal.
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 I am not going to ‘blow’ anything!!![baaa]
I just want to see your “itchy eye” again!!! [biggrin]
Spit it out. It is a great story!
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 LtdMost importantly – is EVERYONE invited or is it a select few?
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 LtdThey gave out their first loans in December. Simon is the first broker accredited in the country. Another group is going through next Friday. Hopefully, I will be in that group. They will be everywhere by February / March.
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 LtdSimon,
Please tell the story that brought tears to your eyes. It is one of the best I have heard. I am CERTAIN that no lender would have dealt with that client directly!!!
Don’t be embarrassed now…
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 LtdYou will be restricted to Foreign Investment Review Board approved properties unless you are, or become a resident. These are usually all new properties and few older ones. More information about this can be obtained by going to:
http://www.firb.gov.au/content/default.asp
Also, the amount you can borrow against a property will be severely restricted as your income will not be derived from Australia (when you go back). Usually around 70% of the purchase price can be borrowed.
Various lenders will accommodate your needs though.
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 LtdWhat is a “Firkin”???
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 LtdYou have to be licensed in some States to charge a fee for selling property.
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 LtdYou start by giving more information… like figures relating to your situation.
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
