OOPS, sorry, it is possible to do, but is a major cow to do. You can refinance the loans, but you must physically use the (large) loan to buy the property which will be the investment. This may mean selling to another party ie from spouse to spouse, and yes, you will have the joys of paying stamp duty.

Hmmmmm, lets see if I can put my brilliant…[Read more]

Excellent post from Simon! Most mortgage brokers (oh dear, I’m going to generalise here) are all to happy to suggest to shift funds from one to the other- 3 different ones told my wife it would be fine and tax deductable! If I got audited a few years down the track I would probably be bankrupted by the ATO!

Thankfully, my chartered accountant is…[Read more]

Can I ask a personal question? Why would you be wanting to commit again to a 25 year mortgage in your current situation? (this sounds a bit rude but it is not meant to!)

Wouldnt centrelink take assets into consideration?

Easy dummy! just turn your fax off!

Seriously though, if they are selling you something, then send them a fax bomb back!

jp- What was your background in RE prior to being in a jenman office. It sounds like you may have been an agent for a while, then the boss married neil (metaphorically speaking!), now you are operating under what you believe to be a worse scenario than before.

Also sounds like your boss has the leadership skills of a suicidal lemming. How much of…[Read more]

I know that principles earn about 120k per year, but have always been interested in starting salaries for primary school teachers (because my sexy other half hopes to be one), and what they earn about 5 years out.

Any helpers?

my two cents

No REA will work for two seconds on a multilist, they want sole agency. Then, when it sells, even if it is through someone you find, they still get paid.

Sole agency aggreements usually last for 3-4 months, and believe you me, that is a very, very long time.

I was half considering selling my own home, but the agent sold me on one…[Read more]

Couple of random thoughts.

I think that all offers must legally be presented to the vendors.

Some vendors have unrealistic ambitions, or try to hold out, or have no reason to sell.

I would contact the vendor (get a contract, and then ring telstra), and make a polite phone call. “Good evening, Mrs Jones, Frank from franks real estate showed me…[Read more]

Have been looking forward to reading and trying to understand everyones POV regarding our beloved HK. Its a bit like all of our opinions -RE, wrapping, politics, sex’n’religion. We all have our viewpoints and fail to understand that others have diametrically opposing viewpoints held as strongly as our own.

So, until I unilaterally become the…[Read more]

Just my 2cents worth.

Why not go at things a little bit creatively (Wish I knew this when I was buying my first home!)

Why not make your offer, subject to the vendor financing you 20% of the purchase price? After all, if they are cash strapped, you walk away and they lose a buyer, if they say yes, then you get the house, and probably save a…[Read more]

Just one thing. Buy it. Sorry, just two things. Buy 10 golden rules and also Secrets of Property Investments. Both are dirt cheap and excellent, with certain specifics that I have not read elsewhere. Two truly “must reads”

What is it exactly you have in mind Wrappack ?

(Almost) exactly as you guessed with your next paragraph. Tie it up with a long term option (or, more likely, a long term unconditional contract), get a plan approved, start a syndicate, then start subdividing and developing in stages, with a view to the long term. The property would be bought by the…[Read more]

Sorry to hear of your loss, Huey. Please realise this-
i) Very few people can understand the grief and sadness of the friends and relatives in these abominable circumstances.
ii) Most people live in a very sheltered world where these (and other unpleasant) things are both unseen and un-thought of. Thus, the stigma and silence, which unfortunately…[Read more]

Many thanks for your replies. As for pieces reply- Was asking exactly asking the same questions I was going to (twilight zone music can end now).

Even if it cost 100k to raise 2 million, I think it would be worth it in the long run- in interest saved, and in not having your back up against the wall blindfolded and having your last cigarette in…[Read more]

Why not just approach the vendors to vendor finance 10 or 30%. If they say no, pay them another grand or two. Could work out cheaper than paying for LMI, etc. If you could have a few vendors who own their house, they might even lend 80% -might be retirees wanting regular income

Thought I would have to respond again regarding guarantour, cross collateralisation, and personal guarrantees.

Most people do not understand the significance of most of the pieces of paper we are asked to sign. If we are about to sign for our westpac loan, and we ask any questions (bearing in mind the answer will most likely come from an…[Read more]

‘Few random thoughts on this interesting thread

Many homeowners see their net family wealth going up, due to the property market. If the family owns one house, then I believe the reverse is true.

Example. I bought my first house four years ago for 200k, and is now worth 400k. Now, it doesnt take a genius to figure out I have 200k of capital.…[Read more]

Haven’t been to their seminar. But jump onto their website and buy their books. Do not think about buying them, just buy them. They are dirt cheap and better than bloody brilliant on so many, many levels

I’m with manofaction on this one.

So many people get screwed so many times and come back for more- Qld was almost built on two tiered marketing scams!

My personal theory. The average person (self included) is always wary about trying a new restraunt, let alone plonking down 500k on a house. But if someone tells you how great the food is, and how…[Read more]

Oops sorry Kay- have to explain how that came about. I had only ever posted in the vendor finance forum (where it was originally placed). It got moved here, and I posted a similar thread again, without checking the archives.
My apologies, I did not realise this.
Moderator, could you please remove this thread.

Thank you