Total Members: 159,082

zizzuu

  • zizzuu replied to the topic 2nd IP finance structure and Sydney market outlook in the forum Help Needed! 15 years, 7 months ago

    Thanks Richard,

    I have already utilized some of the equity in the property to invest in the sharemarket in March last year (not the best move in retrospect).

    The property may have increased in value slightly since this point and there may be around 10-15k of equity still available using the 90% LVR that Adelaide Bank applies. However i am not…[Read more]

  • zizzuu replied to the topic 2nd IP finance structure and Sydney market outlook in the forum Help Needed! 15 years, 7 months ago

    Thanks for the advice Richard,

    Can you please explain “cross-collateralised” and what i need to do to avoid this?

    At the moment i have all of my savings in the original offset account…is this the best place for them?

    These are my only savings and was planning to use these for the deposit etc for the next IP. I don’t see any way to avoid using…[Read more]

  • zizzuu replied to the topic Whether to proceed or not with IP purchase??? in the forum Thanks Richard,
    That is a
    16 years, 11 months ago

    Thanks Richard,That is a good idea.I just spoke to my broker and apparently i need 20% equity in a property to get a 100% loan and that a 97% loan requires P&I to be paid back. The broker did suggest that there may be ways to minimise P&I repayments but i don't see how….i always thought IO was the ionly way to go when investing in propertyI seem…[Read more]

  • zizzuu replied to the topic Try to develop investment plan in the forum Help Needed! 17 years ago

    Hi Elka,It is with Adelaide Bank and i settled the loan in July this year. Now that i know "alot" more about finance i was lucky with the loan i selected (IO with an offset). It has worked well for me so farThankyou for all your help everyone

  • zizzuu replied to the topic Try to develop investment plan in the forum Help Needed! 17 years ago

    Thanks Simon,My current PPOR does have an offset facility and this is where is where i have been saving my deposit for whatever i decide to do. The loan is IO and is fixed for 3 years at a good rate. In looking at a new bigger place i calculated that the stamp duty would be around 25k and that i would also need approx 5% deposit (30k) to access an…[Read more]

zizzuu

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
159,082

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!