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Riiiiiiight

Can anyone help me find Andrew Allen

Would it be more to my benefit to select a broker locally or is it feasible to go with someone like yourself who knows and understands property investing albeit from Melbourne ?

Ok, no problem. Many thanks for your assistance.

Ok fantastic, so having said that if I let my bank organise the pre approval (which has already started) and when I make the purchase use a broker to get the right structure. Would that be an acceptable course of action?

Ok that makes sense. Thanks very much can you tell me how pre approval works? Is it arranged through an already discussed loan type or structure or is the pre approved amount just that, an amount and when you a actually apply for that pre approved amount as a loan you choose the loan type then?

That's a fair argument. Thanks for that

I would rather use one as well but my bank are using an old valuation price which is a lot higher than what I believe it really is. If a broker uses a different they will do a fresh valuation, and I won't have any useable equity

Thanks very much mate for your help, you've cleared everything up for me

* they wouldn't do it

Nice one cheers mate Is the equity release loan known by any other name?? Does LVR and LMI have anything to do with it? He said they would do it they way you've explained and carried on about LVR % and LMI. He lost me at that point.

Ok..... Sorry mate I'm totally new to this so please excuse my ignorance So, I go to the bank and request a equity release loan (IO or PI?) for $40,000 which is secured to the first home. From that I use as a deposit for my new IP loan plus associated costs?

But by having both loans secured against the first house doesnt that mean the 2nd house I buy will also be secured against the first house??

Ok firstly, it's from ANZ You said I would need 2 new loans, an equity release loan and if course the new IP loan Is the equity realease loan by way of refinancing the initial loan?

Yeah Sure Looking for yield over 5% With view to buy and hold long term 6 properties within 10 years and sell off 1 to lower principal across the remaining 5

Hi all can I have your advice please. I have property with approx $40,000 in useable equity. I approached my bank to look at finance for an IP and I asked if we can release the equity for a loan that would not be secured against the first property. They said they could not do it and said the...

Fantastic, thanks very much

Hi all It's IP buying time and seeing as I'm in NSW I am looking for a buyer's agent in Brisbane. I'm hopeful of finding property in the Moreton bay regional council area. Of course I'm open to all suggestions. Thanks

Hi all It's IP buying time and seeing as I'm in NSW I am looking for a buyer's agent in Brisbane. I'm hopeful of finding property in the Moreton bay regional council area. Of course I'm open to all suggestions. Thanks

So having said all this would you recommend getting close to the water or given the potential of the region, would a solid brick home investment work in any part of deception bay