Morning Benny,

Thanks for taking the time out to reply.

I see – that definately makes sense! Can I ask why you would use a different lender for the IP to your PPOR?

Thanks for the heads up re the “cross-security” – I was just reading up on other posts such as the below you’ve commented on:…[Read more]

Thanks Therese – appreciate the response:)

Hi there,

I’m also looking into using esuperfund… it’s a few years since you posted this, though assuming you went ahead… can I ask how you went?  Did you manage to successfully buy a property through eSuperFund?

thank you

Wayne

Hi Guys,

Thanks for the response. I plan to meet with CSA next week to get a better understanding. Will let you know how I go:)

Rgds

Wayne

Okay – thanks Terry:)

Hi Terry,

Thanks for the prompt reply.

In regards to new interests, I’ve always paid everything related to the property since we’ve owned it (mortgage, rates etc). We did both re-mortgage to renovate the property though this is in the past.

I assume when you say helping to renovate – your meaning in the future? Eg, she moves out, the property…[Read more]

Hi Again,

Additional to the above, does a guarantor help in regards to serviceability? Eg, if my parents went guarantor on the loan. (I highly doubt they will though was a thought that crossed my mind)

cheers

Wayne

Kinetic – once again thanks for the reply. Yes, agree with the loan repayments – I will continue to pay the full mortgage as I have done in the past.

I think my next step is to get a valuation done to confirm the exact loan amount required. Would the best approach be to engage three real estate agents and take the average or pay a certified…[Read more]

Hi Terry,

No – no property agreement has been made at this stage.

Corey, thanks for the advise.

Kinetic – you mentioned that on face value (with the above figures) I should be able to qualify for a loan. Was this factoring in full expenses for the kids?

Thank you

Wayne

Hi Jamie,

Thanks for the reply. Yes, but if I re-mortgaged now prior to any decision on child maintenance costs (i believe this would be a court process that occurs at a later date) then would this cost not be factored in or would the banks question why the title is going into one name and preempted possibility of maintenance fees?

Hope I’m…[Read more]

Hi Guys,

Thanks for the advice. At this stage the only other liability I have is a credit card ($2k limit with $1k owing).

Corey – thanks for the tip re: clean payment history.

The one thing I’m unsure on is maintenance. I believe I can provide a good life for my boys and would be fighting for at a minimum, half or up to full custody. If…[Read more]

Hi All,

Thanks heaps for the insightful advice. I decided to hold off on making an offer on this one (numbers didn’t quite stack up) though I’ll certainly be using some of the tips above for future offers:)

cheers

Wayne

What would be cool is a mobile app that calculates returns on the fly.  (Similar to Jamie’s spread sheet – http://www.passgo.com.au/investment-property-analysis-tool.html)
When your at home opens, you could simply open the app, punch the price and rent return, then it spits out a feasibility report (eg, shortfall, yield etc)

Hi Andrew,
This sounds interesting – I’m a web designer by trade so would be interested in testing this out
Rgds
Wayne

Cheers – will do Jamie:)
In regards to releasing equity – can this not be done as a line of credit? eg, so you end up with two seperate loans and you don’t have to refinance the first?
In regards to break costs, I’ve heard this can work in your favour.  Eg, if the rates go up and the bank can get a high return they break with no fee or may pay…[Read more]