buddy fox replied to the topic I/O split or LOC in the forum Finance 9 years, 7 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, 7 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 10 years, 1 month 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 10 years, 1 month 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! 10 years, 1 month ago
Good job on 4 IP’s before 30
buddy fox started the topic How much can i borrow ? in the forum Finance 10 years, 1 month 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 brokerMY 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, 1 month 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, 2 months 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, 3 months 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, 3 months 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, 3 months ago