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

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 is settled, I then decide to do further renovations and ask her to help out?

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 valuer?

Terry – yes, understand. Put it this way, I’ll be doing everything I can to ensure the best outcome for the kids.

Thanks guys

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 making sense,

Thanks

Wayne

• This reply was modified 10 years, 3 months ago by  Waynel.

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

Hi Jamie & JacM,

Thanks for the reply.  Your website is a useful resource:) If you don’t mind I think I will build on your spreadsheet.  This is what I’m looking for, especially with the ability to forecast for 5 yrs.

At the moment we have around $350k equity and we plan to stay put for 10yrs+ so the strategy I’m looking at is long term.  I’d like to acquire as many properties as we can with the equity we have.

The only issue we have is that we are equity rich, though cash poor.  Hence I’m considering borrowing the shortfall for a 5 year period with the assumption that after 5 years the property’s rent would have increased enough to be positive, or at least nuetural.  Can I ask your thoughts on the above as a strategy?

In regards to loans I’ve been considered ANZ’s 5yr fixed loan (IO) which is around 5.8%.

Rgds

Wayne