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Ha, I've just taken three mortgages from CBA and handed them to AMP, fixed at 6.99 for three years. Tight arses

Thank you all for your advise, sincerely appreciated. I'm happy to take advantage of their offering, but first will need to obtain a pre-aproval which costs $350 per property. Not about to hand them some mortgages without the reasurance they'll hand me some doh. One other thing that is...

Loads of equity and income, problem is most of our income is from rental. Westpac, CBA and many more aren't to keen to loan money based on high rental income. However AMP are more than happy to help us out with another ip or two and their interest rates are the same if not better than the...

I always expect photographs of things that are of concern. That's why I'm paying them.

Yes you can claim tools and equipment, including a chainsaw, shovels, travel to and fro. etc. I actualy set up a handy man business, if I want to increase my income for borrowing purposes, I can charge myself for work that I've done to my IP's. My handy man business was intended to be...

Yeah, that's alot. No doubt Blue Card, you probably feel as I do. What a rip off. Some one is making some good money. Why does the insurance have to be on the entire loan and not just on the 20% deposit. We can insure our buildings for a fraction of the price, which are just as likely...

This is why it's a love hate relationship. I have loads of equity, and plenty of available funds in my LOC's for a rainy day. But I want to keep that there for just that and not have to use it for the next deposit. I'm not about to go broke any time soon. But to access my equity they require I...

Thanks guys. Rolf and Qld007, there was something else that came across as odd to me. I'll have to ask my MB again to make sure I heard him correctly. But he said something about that the banks don't like loan applications where the rental income is greater than your earnings. He said...

Hi geepee321, Welcome to Somersoft. These are very important Questions !! I'll tell you how we started, but before I do, you must remember that ALL of what you read here on the forum should be taken as interesting only. Always follow up on your research. What you here on the forums can be...

I'd say yes. If you take Bunnings for example. They don't do so well in high rental areas. However, fast take aways do. I've found that if you see an area with McDonalds, KFC, Pizza Hut, Video Ezy etc, ect, combined with lots of realestate offices. You can bet your life there's a very high...

All was good a couple of months ago. CBA had changed their criteria as of the first of July. They now take the average gross income over the last two years. Not just the last financial year. Makes it hard to play when they change rules without telling you.

I have a couple of options, so I beleive ? What has been suggested to me is to start a new loc for $100k secured against three ip's with CBA. The total LMI would be approx $3500 with a total of $434,000 borrowings. Then apply for a pre-approval with W.pac for 280k with a low doc also. LMI...

Gee, I care. Need to have some idea, even a guess will do. It's becoming a bit of a race for me to retire as soon as possible before I'm an old fuddy-duddy.

"Security to the sausae tent. " lady "Security acknowledged" man Apparently bunnings have a new policy that the sausages must ony be sold in slices of bread, and not bread rolls. :confused:

JIT, I recon 2016. No real reason other than I'm planing to sell and retire around about then. I still beleive that 2012 will be a good year, but it wont be the peak.

Here we go again, looking for more money from the banks. Sure they say, but it will have to be a low doc. Which means not just insurance on the new loan, but also on the mortgage that I'm using to drew the deposit from. They hit you twice ! This will be the fourth time since 2005. So it...

Actualy, I know what i'm going to do !! Next time I'm at bunnings, I'm going to ask a staff member "can you help me out please, I'm looking for section three". :D

Can you tell me, is it just Bunnings here in Brisbane or is it all over Auastralia. The "security to section three" Lady. Followed by in about 10 seconds. The "Security acknowledged" Man ? Because of my work, I shop at Five different Bunnings, and at each store the same music and...

It's not that difficult Pushka. Materials are not depreciated. No new tools were purchased. So the only items to be depriciated were the motor vehicle and office aquipment which is exactly the same as the privious year. My accountant knows we are investors and that we were about to apply...

I appreciate your thoughts Pushka. But I'm not sure why you think I would hand my accountant over 3000 receipts for him to sort out. Is that what you do? Take your documents to your accountant in a shoe box? I know my father inlaw does that !! I just give a summary of my expences. Total fuel...