Forum Replies Created
hi logues,
it depends on what that member likes to do.. if i have a family member that has that sum of inheritance, i would sorta coerced him/her into investing.. I could propose a JV if she doesn’t has the time or knows the ways to go about doing investing or is just too old to bother with it. A Good Money Partner and if that interest her in the long run, u have more than just a money partner, but a thinking partner too.. that would be great
well that’s what i’ll do
Good LUck
Kev
This is interesting.. tomorrow
can’t wait man.. the Top of my LIst of events that i’ve been anticipating for a long time hehehe.. definitely a bOoster for me Kev
hi Nu Gen,
well i’m a newbie too.. currently after learning a huge curve from the purchase of a vacant land JV with dad, i am excited to get an IP too.. but i have to wait :
1. to see how the market is going
2. to get my residency status end of next year to start buying IP, hence not needing to satisfy FIRB anymore
3. Get that degree so that i can start working to satisfy the bank and earn incomeSo in the meantime i’m just learning more and laying out plans to retire by age 30. 22 now
so that’s my 8 yrs plan. I’m taking in all the information so that i know what to do when i actually start sprinting in 2005.It’s a Must, not a choice
that’s definite.Regards,
Kevhey cornel,
i believe looking at some other mortage agents and other banks would really help. Not all banks deal with their clients the same way. I was in such situation 2 months back, and given my non-residency status and not an income earner ( JV with dad who works overseas ) we had some difficulty satisfying the bank due to the FIRB restriction that was passed down on us. Big Banks like ANZ, NaB, CBa and others view ours a bit as being a bit edgy, as the clause that we can’t sell the land without first building on it, scares them miles away from us.
anyway, persistence does pays off as i track other mortage agents, and some from the forum too.. and finally i manage to get 2 banks that would approve. One requires a power of attorney, another willingly without any conditions or restriction, and just 2 days ago, i found out that this bank, BankWest doesn’t charge any monthly ongoing fees as well, not to mention the lower interest rate in comparison to the other banks that i’ve tried initially. Customer Service was good as well. So i’m a happy boi
So Cornel, just don’t give up, i’m sure there are banks that will accept you. You’re a resident and you earn in AUD in Australia. I was in a worst position and if i can pull if off, i’m sure you could too
Good LUck All the best,
Cheers,
Kev
michael R,
So does that means if the investment properties are valued below those numbers, u don’t need consent from the government?
i’ve just writen a mail to the treasury, will hope to get a reply and i’ll post it up here.
Mimi, it’s a bummer that i can’t get the lawyer details anymore, but anyway, i’m sure there are others too
seems like everyones’ in NZ at the moment. i’m still trying to learn more about Aus at the moment, would love to try NZ, but perhaps at a later phase, but if there’s no restriction imposed from the NZ government on non-resident purchasing properties there, i might go have a look there as i can’t actually do much here for the next 2 yrs as i’m a non-australian resident and i have to graduate before i could apply for my PR. which is a bummer.. here u are with all the motivation and wanting to do something but u can’t because of circumstances and citizenship.
Would be excited to see what the NZ treasury has to say about that. I might just be able to do something after all.
Kev
Dear KenShin,
Geez. it’s so strange, u know what, my youngest brother’s Ken Shin too.. and for a glance, i thought u were him until i read ur post, definitely not him after that LOL, thougt i would love to have a brother who’s interested in property to share experiences with
he’s 16 this year.. maybe i should influnce him a bit lolAnyway, i think Bill is right to mention looking at the property market in the next few months and see how it’s going. however depending on where u plan to buy, gains may differs too, so it’s not a strict one for all rule.
Have u tried other banks to see if they would lend more? my experience with banks is u have to be patience and look for the best deal and one of them is sure to meet ur requirements and more than happy to have u as their client. Bill, not sure if i’ve mentioned to you but i’ve manage to get the loan from Bankwest and there is no monthly account fees too, compared to ANZ of 8 bucks/month. And the interest’s marginally lower to, it’s at 6.20 at the moment, about 0.05 lower than ANZ
I’m a happy boi. I’m on variable as i think i would love the flexibility to pay it off in lum sum perhaps in a year or two.Cheers,
Kev
just sent another one, it should work now as it didn’t bounced back
Yipee…Miss Lily, i think it doesn’t matter if it’s capital I or P as they still read it the same
it’s not case sensitive, i wouldn’t thought Anyway.. have a great week and great success
i’ve been working on my Goals so that’s good.. Gotta keep it up and get accountable Cheers,
Kev
Hey…wizard and others,
I have manage to sent thru to the actual homework email addy.. so i think this time it should work
Cheers
Kev
Watto,
that’s great.. now guys there you go.. but what Server are you using? differetn server has a different IpChat
Kev
so far i’ve manage to send one to [email protected]
hmm i hope some of the admin staff would read this and direct us what to do.. i have saved the copy and email it back to me in case i could re direc the mail.
Wizard, great to see someone who’s in the same boat and am enthusiastic about this
Cheers,
Kevin
