Forum Replies Created
thanks all for the replies!!
Just to clarify. I just want to a nonsense transaction account with minimal fees. it is for play money only, so interest is not a factor!
Thank
Thanks Derek
Those figures are frightening!! According to the artice, accountants are the only ones worth their money!
The question Derek, would an accountant being able to help me in regards to my own situation? I am never to sure how much an accountant can help in my situation. i only seem to use mine at tax time.
Thanks Jack
I realise I can refinance and use the equity. My question was referring to “what would be a good investment” based on my current situation ie starting a family.
I thought about another property but obviously cash flow positive are a rarity these days. I don’t want to over extend as a new born and potentially a single wage has to be considered. However if there was a form of investemnt ie managed property trust that was returning good returns then it would be beneficial to use the money instead of the leaving it in the loan.
Any suggestions?
Thx
Thanks Hunter
Basically what I have now is a LOC as my primary loan(split with a part fixed)
I then ave other loans with other inst for my inv properties.
I am happy with my other providers(at this stage)So in a nutshell I would like to either refinance my existing citybank loan or refinance it all if that was the better option.
My primary request for a loan is to be geared for investing in either property or shares.
Thanks
Thx all
If I was to decide to walk away from the loan, how do I go about paying for what has already been done ie loan application, valuations? do I just contact St George and say to bill me for services rendered?
How does it affect the Broker if I do this? Ie work they have already put in.
Thx
I think it is a professional package. Do you like the product? How does the offset on the PPR work? Obviously all our income will be put in sub acc 1(PPr)
Do you think the sub acc2 should be fixed or left variable?
ThxWe will be accessing the equity to purchase more properties
From memory the rate is 6.47. The loan has sub accounts for each property(or i can have just one account for investment)
As standard the sub accounts are variable. My thought is to fix the investment sub acc. for 3-5 years. Not sure though? What do Brokers think these days about fixing?
I am not to sure how many properties i will get. My goal was 10. depends on market. soon i will diversify and use some of the equity for shares and managed funds.Thx
We have had a LOC for years with Citibank. Over the last year or so I have found their service to be sub standard. Hence the refinance. The broker we were going through only deals with St George(something i was not aware of when they recommended the Portfolio loan). How many products were we not told about!!
From what I have read the loan appears to be ok. My concern is if the fees etc are high compared to other lenders.My current situation is we have our PPR and two Inv properties with a third on the way soon.
Any more info is appreciated
Thx
Do a search in the forums as this topic has been covered.
One problem which you may face is most retirement Villas are under 50m2 therefore you may have problems securing finance.Good luck
I would think so. I am also claiming this on one of my ip’s.(i Hope i can) To be on the safe side, ask the person doing the work to say “Repair driveway” on receipt.
Thanks Liz
My only concern is that the main industry is tourism. There are some other minor ones but we all know cairns is the jumping point to other destinations for Nth Qld. If that should slow down(tourism) then trouble.
Good advice.
Thanks all
[biggrin]
Anyway, back to the subject. If an advisor recommends a cetain institution, and can show you how much better the product is, what do you do?
I will put it this way. “Can people on this forum tell me who they are financed with and why?
Thanks
[suave3]I think a councilor maybe able to help you stu ie being victorian is a disease of the mind!![laughing]
Live in Qld but grew up in NSW!! No amount of perfect weather, hot babes and beautilful beaches will make me wear maroon!!
Back to the question, so you are saying that St George “Bees Knees”?
thanks all. I am confident about my own knowledge about investing, ie property/shares etc.
The one thing the consultant highlighted was that they thought my loan structure could be re-worked to achieve lower interest rates. I currently have a LOC with Citibak for PPR and my ip is fianced by Suncorp. They were recommding me to refinance everything with St George. What are your thoughts on this? How is one to know if their loan structure is the best option? Who advises on this? What are the pros/cons of having all your finance through one inst. ie St George?thanks for all everyones input
It sort of did. Most of the posts were about comparing Margaet and Steve and their personal achievments.
I am looking for someone to say “yep i used their services and this is what they did for me….” If I am going to outlay $2750 for them to advise me on investments then they had better stack up. So far what I have read has not convinced me.
How many people on this forum use financial advisors? So far my own research has given me most of the info I need to proceed further with my investing. It is just nice to know someone(financial advisor)is in the background “watching out” for you.
So back to the original question. Has anyone signed up to her companies strategies? Do they work? I recently had an appointment with one of her companies consultants and was cautiously interested. Any other feed back!
Thanks for the advice. To answer your question, they have no affiliation with developers etc. They are an independant company set up by Margaret Lomas(who has written a few books like Steve on property investing) They just deal with property investing strategies and do what other advisors would do ie set your budget and structure your budget to maximise debt reduction and increase investments etc
I am just interested in those who may be a client and can give me the inside info on how well they are set up etc. Any takers?
Thanks Mate
Read a few of the posts. Seems like the common theme is that there may be to many pitfalls in retirement investments. It would be a bit of a bummer if they could not be used as equity. Oh well will have to keep on looking!!
