Thanks for your replys. Ok. I shouldn’t call it an investment, if it happens to get capital growth along with being able to enjoy a family holiday would be a bonus. Like Redwood said…its more for enjoyment for the family so it is for personal/emotional reason. Its seem like yours turn our to be enjoyable and a decent investment over those…[Read more]

ok thanks if you ever want to negotiate let me know
Cheers

I have thought of that!! Unfortunately I don’t think my wife would be into that!

I was looking to do the same with my property oversea as the rates are at tad lower then Australia. They told me I have to be there in person to apply for the equity of of my investment but it can be done. Just be careful of the exchange rates from your country to Aus dollar. You might end up paying less in the long run if the exchange goes in…[Read more]

Jamie

So are you saying that I can take out a LOC on my PPOR say 300k buy 3 IP with 100k deposit on each with 3 different banks with the same LOC?? and it would be all fine? Is there a lend limit the banks would loan as the cash is coming from a LOC from another bank?

Cheers

update:

I talked to a bank about my situation. So basically he says I can borrow the max amount of 300k base on my wife’s salary. So I might be bit ahead of myself thinking I would be able to borrow a lot more. He also stated that it is fraud to have a LOC used that as a deposit on a house and get borrow the new funding from a different bank.…[Read more]

Hey New Guy
thanks for the info. Im always scared to talk to financial advisor. but for example he says ok maybe you have enough equity in property you should diversify into shares. I don’t have enough cash really for a full time broker that is really going to take care of my needs. I will get a rookie that has just come out of uni and take…[Read more]

Its funny that your looking at them as I was looking at them a few days ago. I was thinking of using the also, and seeing if I can book an appointment for a sit down. Im now curious on how reliable they would be.

Hey Jamie
Thanks for the info.

When you say leverage your PPOR does that mean basically borrow against your house to put down a deposit for an IP? And can I do that every year without a problem? Is that the definition of Cross collateral? or completely different?

Also, I forgot to mention, that I don’t work so if the IP is negative geared…[Read more]

Being a rookie in the field of structuring mortgages its kinda of embarrassing not knowing a lot. I have been reading and doing research, learning as I go. I have my PPOR and and oversea property but never had to take out a mortgage. So I def have to seek advice from professionals. As unfamiliar territory its a bit overwhelming figuring out the…[Read more]

Hello Marty

So say you were me an investor. You are looking to buy a IP. Would you be doing interviews for brokers? as in calling a few to see what they all say, and then narrow it down to one that suits you the best??

If you don’t mind me asking where your IP’s are and how many you have. Im also assuming that your properties are negative gears?

Im just wondering how i can read page 50 without going through every page. Usually there one sites with 100’s of page have 1-10, 20-30 ect so you can then click on 20 and go to page 22 in two clicks. Not sure if I actually explained it correctly.
Cheers

@ Daniel
that sucks. I actually have thought of going throughout a buyers agent to look at the best deals and area that I can purchase in. Seem like there are bad seeds everywhere, hard to know who to trust.

@Terry
Never really thought that would happen, until it actually happens to you

@kinetic
Even have problems making a claim?? I know…[Read more]

Well originally I was thinking of just going Interest only and hopefully pick a great area that is going to grow in capital. Hold for 7-10 years and sell and do it again in another area. Do this with 3-4 properties spread out over 5 years so buy, hold, and sell. Instead of 10+ properties for 30 years paying them off slowly. I don’t work so…[Read more]

Hey Xdrew
thanks for sharing, seem to me like property management of getting him to check up and getting the right tenants in was a problem. Thats where I think I would have a lot of trust issues is with property management. As I like to do things hands on instead of relying on someone else to do the job. But as most case people just don’t have…[Read more]