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  • Profile photo of shay1975shay1975
    Member
    @shay1975
    Join Date: 2008
    Post Count: 6
    May 5, 2008 - 4:49 am

    Hi Michael,
    Thanks for the advice. I am in the eastern suburbs in Sydney and there is no reason I can't invest here again. But I guess diversification is on my mind. Also while this area may give me good growth, there may be other areas which are cheaper that would allow greater capital growth and would allow me to buy more than one unit. For example, I bought in 2004 and while I have had around 20% growth which is good, if I had bought in Perth my growth would have been a lot better. Hence my dilemma, trying to find the next growth area and who to believe. A lot of people seem to think SE Qld, Townsville etc..

    If you are living in Melbourne, how did you source your property in Paramatta and why there? That is west Sydney and one of the areas in a lot of strife the last few years in Sydney.

    Cheers

    Profile photo of shay1975shay1975
    Member
    @shay1975
    Join Date: 2008
    Post Count: 6
    April 29, 2008 - 3:59 am

    I understand that, but does that mean the max I could borrow to avoid LMI would be around 529k (80%). I don't want to dip into savings, but use the equity only to invest and I want to avoid the LMI as it is a waste of money.

    I have just been trying to figure how they came to this max value I could borrow from the details given to them
    Property valued at $600k they told me.
    Loan value at 472k
    Offset 50k say

    Based on that, the worked out max I could borrow was 630k at 95% LVR. Am I making sense?

    Thanks in advance

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