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  1. scha9799

    Waiting for the Sydney bust - auction clearance rates

    It will be hard to see any dramatic correction in Sydney in the near future, till the interest rate goes back up for at least 1% The recent tightening up in the lending policy from the banks/lenders will have very little impact on those wealthy investors.
  2. scha9799

    Is this a terrible idea?

    look into vendor finance, lease option or installment contract. You will have more security then lending purely just on personal credit.
  3. scha9799

    Buying off the plan caveats for House and Land package in Sydney.

    For the off the plan to work. You to get the buy price right. The price you pay for need to be give you good profit upfront, NOT the overinflated future price. A Developer needs to get enough pre-sale before bank/lender willing to give them the loan for the project. You need to do your...
  4. scha9799

    Sydney Silliness Warnings 2015

    It will be interesting to see when the settle comes and how the valuation for this type of properties will be. Many of these high rise apartments fell short on valuation, when it comes to settlement; but obviously, past a few years market push up/away this problem.
  5. scha9799

    Changing lending climates - How will the brokers reinvent themselves?

    It's all about adopting the environment. As Jessica said, it is not the end of the road. It's about how to find a way to offer clients best possible lending solution.
  6. scha9799

    NSW Builders License Course

    You can look into owner builder license. It maybe more suitable for a non-trade background first time builder to start with
  7. scha9799

    45% return in 1 year

    I guess the selling agent is an Asian (Chinese) looking might be the factor helping for achieving the high selling price
  8. scha9799

    Cross-Collaterized - what next?

    x-coll in itself is not a big problem. It can be a good thing depending on the situation. Normally, x-coll get a bit more discounted interest rate hence give a bit more borrowing power. What comes to the problem is when you do want/need to sell the property, you are really have less power...
  9. scha9799

    Can you service your existing debts if rates rise to 10% or 18%

    It will be certainly interesting to see when/if the rate goes up to 10% Surely, we can find out who is really swimming naked and is a great swimmer. Time will tell :)
  10. scha9799

    Western Sydney Meetup - Wednesday 20/5/15

    It was a really awesome night. Good to see everyone:)
  11. scha9799

    Is this a good deal ?

    Did NAB said waive the package for the first year only or for the life of the loan ? I think it's a good deal. From my experience, I found NAB is much sharper in term of pricing than CBA.
  12. scha9799

    Subdivision 101 and Duplex

    subdivision can be strata subdivision or torrens title subdivision. Normally, strata subdivision is after completion of the construction. torrens title subdivision can be current out before the construction. dual occupancy is just can be torren or strata subdivision What you need to...
  13. scha9799

    Home Loan Help Please!!!

    In regarding to your loan, don't worry about Pepper's high interest rate at moment. Treat Pepper as a stepping stone type of loan, after 6 - 18 months of good history of repayment, you will be in a better position to negotiate a better deal with them or other lenders. What I found is, many...
  14. scha9799

    Tools for assessing property portfolio performance

    I use an excel spreadsheet, put all the rental income, yield, buy price, current value, loan amount, interest rate.... Once you build up your spreadsheet you just monitor your portfolio regularly, I guess this is an easiest way to manage a portfolio.
  15. scha9799

    Developer mentor to share profit

    If you are just looking for duplex site to start with, it's actually easy, but just a lot of work you need to do and running around. 1) go to talk to as many builders as possible. Ideally, project home builders. what you look for is to know the cost of construction of duplex, site cost...
  16. scha9799

    Use of extra payment in redraw for business purpose

    He just check loan has redraw facility, which should have stated on the original loan offer letter. ( which 99% of the time people did) or Set up an offset account, instead of pull all the cash/equity into the saving account, your friend can park the extra cash in the offset account, which...
  17. scha9799

    Changes / tightening on servicing for investors

    It will be interested to see the tightening lending policy coupled with some interest rate increase in the next 18 months. Spoken to some local agents and solicitors on the ground, they do feel a bit less volume compare to this time last year. But somehow Asian(Chinese) oversea investors...
  18. scha9799

    Private Lendng - an alternate cashflow option?

    A client of mine is asking for the short term unsecured lending. The loan amount is about 2 million. 6-12 months terms. the fund is for the development usage, but somehow the client is not willing to put up any security, no caveat. I am trying to source this type of lending, am I looking...
  19. scha9799

    First IP :-)

    Congrats on the purchase wombat777. This is exciting ! A multimillion property portfolio starts from first one and the next one then the next one.......
  20. scha9799

    Anyone after a bargain?

    I wonder who is really bought the property ?! really an "Australian citizen buyer " ???? :rolleyes: