1st visit with mb - I'm excited

[Rixter]

I havent been able to get him on the phone yet. I'm wandering though if he'll say that I should wait and that its too early to buy, too risky. The thing is... I'm ok with going to LVR of 83% I have $30 K buffer I can call upon. I'd only need to cover a bit of a shortfall. I hope he doesnt try to talk me out of it!! I know I can afford it.

Kim, you do what you think is best for you. By all means take on board what your team around you are telling you but at the end of the day no one can tell you what you can or cant do. You know yourself better than anyone else does. If you know you can do it then thats all that matters. Dont let others dictate what you can or cant do.

As all the experienced investors here will tell you - if they settled for all the 'no's they received along their paths over the years they would never be where they are today.

I hope this helps and provides you some food for thought.

 

[Rixter]

Maybe I could scan it, black out the important bits and see what you guys think

Then what do you intend doing?

 

[travelbug]

Geeze, my kids tent is bigger. Who lives in these boxes I'd hate to think what the historic CG (or lack of) is.?? I guess that explains why banks dont readily lend down there - higher risk.

I don't care really. As long as they pay their rent. Just because it's small doesn't mean there's not a demand as long as the location is right for these type of dwellings.

We bought a very small 1 bed unit in Potts Point last April. It has gone up at least 15% in the last 17 months. We did pay under market but even if we paid market price at the time it still would have grown 10%. And it's now cash flow positive. The same tenant has been there for at least 2 years. Perfect tenant. Never hear from her, pays on time.

Wish I had bought more.

 

[TheShuffler]

I'd be more ****ed with the non-disclosure of the $450 up front!

 

[Rolf Latham]

Hi Schuffler

Not the way Id work, BUT....................whose IP and work went into the deal pre disclosure ? The risk was pretty much mainly the brokers id assume.

ta
rolf

 

[TheShuffler]

Yeah I'd agree - I was thinking what was stopping Kim going direct to P&N and ANZ and negotiating the deal direct now except for the honesty system! However that said, I would still prefer for there to be some disclosure up front like 'We will chase down the best deal for your circumstance however our fees will be xxx once we work it out blah blah blah'