IP loan sales pitch Pt 2



From: Robert Longmore

Ok the loan person has been and gone, and strangely it all made sense! and yes i did ask him if he owned IP's, he said yes, 3 to be exact, all in sutherland shire. and yes he did compare their products to other major lenders, all the banks and others such as Wizard,Rams and others i cant remember right now. they also had a few good options i have never seen before. one that interest me was the 100%lvr loan at 6.49 variable interest rate, and you only need 3% of the value of the property to qualify, and the 7K FHOG covers all setup costs. conditions are, property must be in the Sydney Metro area Only. and a max loan of $300,000 usual redraw facility, revolving LOC etc. all others were the same but varied from 75 to 95%lvr loans. i am going to spend the weekend comparing loan and probably sign on monday.

Now to start shopping! should i buy new and get the 14K FHOG? or should i try to find an established property and +ve gear? my thinking so far is to buy new and take advantage of almost immediate capital growth, the 14K and depreciation, and used the equity to buy another property within 2 yrs. hmmmm thinking...........hmmm yup......hmmm
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Reply: 1
From: Rixter ®

Dont let Analysis Paralysis set in. As the slogan for a well known sports company says "Just Do It"

Happy Investing,
Rixter :)
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Reply: 1.1
From: Paul Zagoridis


you asked asked if you should buy new and take advantage of the "almost immediate capital gain".

Please elaborate on this a bit.

Developers try to get the maximum the market will bear and are not normally motivated sellers. Am I missing something in your strategy.

BTW the loan looks good.

Paul Zag
Oz Film Biz is at
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Reply: 1.1.1
From: Robert Longmore

i have a friend who recently built a new home near campbeltown, and another who has owned an established home in the same area. the new home has increased in value at a greater rate than the established, after the first 12 months, a revaluation was done that gave him $40,000 equity, and the other property took approx 3 years to achieve the same growth. and with the M5 motorway completion in a year or 2, that shoul help in the growth of the area as well.
I fully understand the Analysis paralasis bit, i have been trading shares for the last 3 years :) dont worry, a decision will be made ASAP. and one last thing, What are the chances of building new and still qualifying for the 14K FHOG if the cutoff is december??
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From: Sergey Golovin


If you or you partner never had any residential properties in on your names - no problems.
Get the finance, buy the house and apply for FHOG. Who is going to stop you?
What are you exactly concerned about? Which part of it is unsettling for you?

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From: Robert Longmore

I plan on using the property for investment purposes only. i am unsure of the grey area surrounding the FHOG and the time you as an owner occupier has to occupy the residence before giving it to an agent to find a tenant. Unfortunatly i am on my own with this one, i no longer have a partner (broken up)
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