buddy fox replied to the topic I/O split or LOC in the forum Finance 9 years, 5 months ago
Hi Jamie
I am refi to NAB as my broker said its a must to allow for more borrowing with CBA or something along those lines .
I can understand the advantages of a split loan over a LOC , but seeings as i will be intending to keep a portion of those funds
as a buffer and reno/soft cost would it be beneficial to keen evan a portion as a LOC?
buddy fox started the topic I/O split or LOC in the forum Finance 9 years, 5 months ago
Hi investors .
I have the opportunity to realize some funds from my IP’s
Roughly 80K .
I currently have 3ip’s with CBA process of refi 1IP to nab and getting 20k split ( wanted loc but apparently loan to small for loc)
The other 2ip with cba are getting topped up to realize $60k
My question is should i get the 60k via a LOC or I/O split ?
Or…[Read more]
buddy fox started the topic My reno in the forum Value Adding 9 years, 11 months ago
Hi Guys
Thought I would share my landscaping/ renovating experience with you all.
I bought the below property for 205k a deceased estate the hunter area last september . After some earthworks painting the
interior adding blinds and cheap carpet i managed to add 20k in two months and was able to refinance .
At the time it was the hardest thing…[Read more]
buddy fox started the topic Un-Crossing in the forum Finance 9 years, 11 months ago
My old broker set my two existing loans as crossed .
After a lot of reading on here I realize this is not the correct way to do business .
I just spoke to another broker who tells me it is rather easy to uncross and is basically an internal refinance
and should only cost a couple of hundred dollars .
She also said that because of the cross I…[Read more]
buddy fox replied to the topic Investor turn Developer dream! in the forum Help Needed! 9 years, 11 months ago
Good job on 4 IP’s before 30
buddy fox started the topic How much can i borrow ? in the forum Finance 9 years, 11 months ago
Hello guys
very broad question I know !!!
but am in the process of looking for another ip and I do not want to use my old broker
MY SITUATION
currently have 2 ips with cba one of them borrowed 106%
both CF+ full doc loans.
i currently have 20k in savings and i am looking to borrow as much as i can without realizing equity ! !
i take home…[Read more]
buddy fox replied to the topic Adding Value in the forum Value Adding 10 years ago
hello guys
just a update n the Granny at idea
After speaking to number of agents in the area and builders I have gathered a lot of information .
Firstly My managing agent believes it is a great idea and I could potentially re rent the house and self contained GF for a minimum of $310 PW ( it is currently rented at 270pw) it is in my opinion…[Read more]
buddy fox started the topic Woodberry suburb profile in the forum General Property 10 years ago
Hi Investors
what are all your thoughts on this suburb Woodberry NSW 2322 .
I work for the local council and have a few IP and i am looking at a number of areas and this one has
caught my eye .
a little background about the suburb.
*Fading stigma * lowish vacancy rate *12mins drive to a new approved hospital to built
*5mins from the M1…[Read more]
buddy fox replied to the topic Adding Value in the forum Value Adding 10 years, 1 month ago
Hi Jamie
Thank your reply . No not approved yet as just in the thought process still .
My goal of adding the GF would be to add enough value to purchase a third and the extra yield would be a bonus.
I do realize that i would be subtracting a car space but i think for valuation sake the GF would out way the double garage.
buddy fox started the topic Adding Value in the forum Value Adding 10 years, 1 month ago
Hello Investors
first time poster long time lurker
a little about my current position .
I currently have 2 IP one of them i bought significantly under value and did a few minor cosmetics and added 25k in 3 months and re mortgaged to purchase the 2nd .
The first property is currently valued at 225k its a 2 bed with a double garage with a…[Read more]
buddy fox became a registered member 10 years, 1 month ago