Forum Replies Created

Viewing 3 posts - 1 through 3 (of 3 total)
  • Profile photo of Sarah26599Sarah26599
    Member
    @sarah26599
    Join Date: 2004
    Post Count: 5
    April 25, 2004 - 5:09 am

    Thanks Anna, Tracey and Lucifer_au for your advice!

    Let me Just get a few things straight so i know if i’m understanding it right.. With the equity my parents have on their PPOR, they would be able to obtain loans for further properties? What i’m not getting is that don’t banks look at your ability to service the loan, and considering my parents have still $150k on their mortgage and only $66k guaranteed annual income.. how are they able to borrow?

    I understand they can go for asset lends (is that the same as no doc home loan?)..And to get an asset lend, wouldnt they need a huge deposit of like 40%?? If that’s the case, that seems almost impossible!

    Anna, are the properties you’ve purchased all CF+ve properties? and are they all within NSW? or have you and husband purchased in other states aswell.
    And can you recommend any brokers that would be able to help in my parents’ case?

    Profile photo of Sarah26599Sarah26599
    Member
    @sarah26599
    Join Date: 2004
    Post Count: 5
    April 20, 2004 - 6:59 am

    Hi guys,

    Thanks Derek and Terry, i really appreciate you bothering to take the time to offer some advice. When you’re still young and learning it can be quite daunting and overwhelming to think of where you should start.. it’s almost like learning another language!

    And it’s so true that as soon as you read an inspiring book, you really wanna get things started ASAP. I guess i can use this time i have saving up to really learn as much as i can about investing in property, esp CF+ve.

    Thanks Terry for your book suggestion, I will definitely have a look into it.

    Ciao for now!

    Profile photo of Sarah26599Sarah26599
    Member
    @sarah26599
    Join Date: 2004
    Post Count: 5
    April 18, 2004 - 5:18 am

    Hi Marianne,

    I’ve been on ESC’s mailing list since last year when i attended one of their introductory seminars..
    I also get the “HOT Property” listings with some good CF+ve properties, but have not actually gone and purchased ones myself.
    But finders fees would probably mean that by the time you add up all costs to purchase the property it wouldnt be CF+ve for at least that first year (basing it one their figures of rental income per wk). But then again it depends on the deal.. they do have some good ones..

    But I too am curious if anyone has actually purchased a property from them, and if they had any success/problems with it. I can only suggest to maybe go to their website and find a member or join the forums and ask memebers there who might be able to help you with your property decisions..

    Hope this helps a little, good luck!

    Sarah

Viewing 3 posts - 1 through 3 (of 3 total)