Hi Happy HomesWhat state are you located in? and does the Finance Broker/Team have to be in the same state as yourself?

Hi Happy HomesWhat state are you located in? and does the Finance Broker/Team have to be in the same state as yourself?

Hi EveryoneI noticed that all the brokers that posted comments made mention that it is a very hard industry and hard to make money.I have gotten rid of 4 brokers in the past 18 months, from scheming, lying and acting in their own bests interests.I take out a loan on average once every six months.. I am a long term repeat customer.Do you not…[Read more]

Hello BJBJAll my investment properties are in my individual name.  I did not see the benefit of setting up a company to buy IP.  This is not to say it is wrong.   Do you mind explaining why you put them in a company name so that I can educate myself?As far as I know, you can only claim the tax back if it is in your individual name.  It is offse…[Read more]

Hi JambvI do not know much about Japan however, I do know they went into a recession years ago and are just climbing out of it.Predications are that property prices will climb in the next few years..I guess when investing overseas, the thing you have to pay particular attention to is the politics…. and how they feel about foreign investors…[Read more]

Hi ThereSticky situation but I guess it all depends on the attitudes of the tenants.Are they going to move out asap? Do you they owe you backpay in rent?If they are decent people they will move out asap and you should be able to find tenants in the current Australian rental market asap.  If they are not going to move out, then I guess you have to…[Read more]

Hi AdakonDo you like in W.A. or in another state?

Do you want me to add my comments now :> lolIt all depends on your strategy.I have 1) read all of Margaret Lomas's books 2) attended many seminars 3) seeked finance advice from her brokers.  Although they may offer sound advice for older people close to retirement, mums/dads or cautions investors…  I do not find their plan or advice to fit wh…[Read more]

Hi There LOL relax :>  setlement is four months away… and the Perth market is over heated… no one is buying and flipping it out of the question… was so silly and it is great that i have learnt this lesson.I have just been advised the I paid at least 75K too much for this block..!!!I am in the process of seeking legal advice..

Hi TerryThe develop is smack bang on time frames… the block has not gone up, in fact, half of them from the same development are still for sale.This is a big learning curve for me!!!

Thanks for that, appreciate your feedback.This may sound like a niave question but I have seen houses selling for 50k.. how do you even build a house for 50k.. it just doesnt make sense to me.To build a house must cost nothing in the U.S.?????

Hi RichardThe Queensland property was at 95% purchase price was $335000 and loan was for $318000Am I being resonable asking my broker to shop around?  does that mean the loan can stay with Westpac still???What is your professional opinion?

Guys, links to define consumer… what do you think??

1. Covered under the code

http://www.creditcode.gov.au/display.asp?file=/content/credit_does_cover.htm

2. Not Covered under the code

http://www.creditcode.gov.au/display.asp?file=/content/credit_does_not_cover.htm

But Terry, surely the finance broker knew that it was not in my best interests to finance and cause all thse costs. Surely, he was only taking his best interests into consideration.. to refinance to earn to trail commission and the loan commission.

I was told by the old regulator of the UCCC that I am included in their code because I am not…[Read more]

OK the loan was managed through Homeloans Limited through AdelaIaide Bank. The loan has been taken from Homeloans and put DIRECT with Adelaide Bank now.

Like I said, the equity application form was the same form used to refinance as well and cos it was on Adelaide Bank letterhead and I was with them anyway, I thought nothing of it.

When I…[Read more]

No you dont only do this is you know someone wants to sell.

If you know something is happening in an area or see added value in a piece of realestate… I have known others to knock on doors! start shacking some hands and giving people that winning smile :>

And of course a realestate option is similar to a share option. You have the option but…[Read more]

Ah Terry the reason I have been charged break costs is because the two loans were originally with a mortgage manager! my broker took them from the mortgage manager and placed them directly with the bank.

That is how I got charged break costs!

I called my mortgage manager a few days after settled and they said “We cant help you, your loans have…[Read more]

Hi Terry

I understand what you are saying, YES i signed a loan document on “BANK OF ADELAIDE” letterhead. The loan was already with this bank and I NEVER instructed anyone to REFINANCE my loan but simply draw equity.

I have been mislead and I had to pay break costs but I didnt know I was breaking any loan.

I wont stop until I get a resolution.…[Read more]

What you are talking about is called an ‘OPTION” not “Rent to Buy”

You make your offer to purchase the “OPTION” in the same way as if you were buying the property, except your premium (deposit) is not refundable if you do not exercise the “OPTION”

So you pay the premium and say you will purchase in 6-12 months.

Options are another form of…[Read more]

I think they all have things to answer for and I think my broker wanted the trail commission because it was originally finance through another broker.

The bank told me a letter SHOULD have gone out to me confirming break costs ect but they have no record of it.

I have also checked my “Mortgage Contract” and “Settlement Disbursement Fees” and the…[Read more]