Tell me Turboz, if you go to the bother of providing your details and emailing your enquiry, wouldn’t you expect to receive a phone call or correspondence. Emailed a mortgage broker, once, they phoned me back, gave me some excellent advice with a choice of 30 lenders and got my business. Customer service is what it’s all about. Good to see you had a good experience though. Maybe I’ll give them another chance on my next IP purchase.

Grant,

A $380k loan @7.32% over 25 years paid fortnightly is going to cost roughly $1275. Your colleague must have had a substantial amount of equity on that sort of money to be only paying $80 per fortnight. Considering that DHA take 15 – 16% of the income as a management fee as well. My experience when looking at these deals is that unless you’re going in with a substantial deposit, your going to be heavily negative geared. I personally wouldn’t be comfortable with that. This severely hinders your cash flow for possibly a long period of time.

In saying that, I have friends who have purchased DHA properties, however, they are dual income households and they bought when DHA were a bit more reasonable on there pricing. DHA properties are too expensive in my view.

With no deposit I would have thought you would be far better served to continue saving and use the FHOG like everyone else to try and enter the market. Is it an option to start with a lower cost IP first, say a unit in Logan Central at $110k with as little as $5500 down plus costs. Slowly increase your equity, over time, get a revaluation etc etc etc.

Hope this helps.

If it’s a scam it looks like a good one. Forums have a lot of posts on them going into last year. Some of the posts are very religious. Looks dodgy to me, no mention of what exactly the money is invested in nor a lot of talk about returns.