Fully agree.

Our schools are teaching our kids to work for others, but they don’t teach our kids financial education.

If Australian Government truly wants phase out overseas investors, they can do what Canada government did… by charging 15% or more foreign buyer tax….

Don’t think Australian Government would resort to doing that any time soon.

Jaxon

You are reviving a thread that is more than 5 years old.

Wondering if the others are still reading that thread at all..

Saw that.

The area is Vermont.

RE.com says median price is 555K, but if I drill down into “sales history”, I can see similar sized units gets sold ranging from 500-700K. The 2 most recent sales all hit up to 700K, while the rest just really…[Read more]

Hi Benny

Thank you very much for the good explanation.

To answer some of the question you asked. No, truth be told, I was pretty sure I bought above market value.

I myself was actually not so interested in buying that property (it is the 2 bedroom unit I spoke about in another thread), and back then in October-November last year, my family was…[Read more]

Also, how long is the validity period of the valuation?

Hi Benny

No, I did not request for the valuation.

I simply spoke to my broker about refinancing my investment loan from my current bank to a lender which he has contact to for a lower interest rate. (my current bank offers 5.1% IO while the lender — which is not a bank — introduced by broker is offering 4.4%)

The property was purchased for…[Read more]

Thank you very much Corey

The broken has assured me at least for the past 4 years, they have not increased the interest rate for this product. He also explained that not everybody gets exactly the same interest rate. For example, user A may sign up with this product with a rate of 4.5%, and user B may sign up with this product at a later time…[Read more]

Thanks Richard

Based on your knowledge or experience with them, would you know how frequently they might change rates for existing Horizon product users?

Cheers
Steven

Thanks all.

I attended the workshop earlier this week. It was 2 hours instead of 3, and I agree, she is a great presenter.

She didn’t dive too deeply into the how to execute her strategy part, but that’s expected as the amount of details will probably take hours of days to cover.

I didn’t sign up the $6K course though, not because I think it is…[Read more]

Hi Richard

What does “honeymoon product” refer to? When you say a product is “honeymoon product”, are you refering to packages with ridiculously low interest rate in the beginning and the rate will hike after a short while? Does that mean the concern raised by Corey does not apply to Horizon product offered by Resimac?

The amount being…[Read more]

Hi Corey

I just looked at the document I was given. The product is called “horizon <= 80 LVR Standard Var & Loc Inv”.

Are you able to tell the nature of such a loan by looking at this product name? Does it look like one of those “lender special” loans that will experience rate hike later on?

The major banks are charging me 4.5% interest rate for P&I.

Problem now is while I do have more than enough income to sustain it, but the idea of me feeding 700+ per month out of my pocket (because my property is in an expensive area where rental income doesn’t catch up) is less than appealing to me.

The broker who spoke to me said in the past 4…[Read more]

Hi Jaxon

When you buy properties inter-state, do you make a travel to the site every single time?

If not, how do you ensure the inspection done by the person who does it on your behalf is accurate

Hi Zen

Thanks for the feedback.

So how much is actually being presented in her workshop from what you remember?

When I signed up for the workshop, I was also given the option to buy the following books for $17, which I did:

Property Developers Guide to Success
Property Developer’s Essential Legal Kit
Reports 1 – The Economics of Property…[Read more]