Sydney Silliness Warnings 2015
- Thread starter charlieandkath
- Start date
I think you need to go solo with this one RAMS/Westpac. Also, there are also conditions, we buy in Trust/Company and our accountant signs off on the income. There are other lenders with low doc products that also have conditions, not necessarily the same.
You have nothing to lose by trying.
MTR
How did your broker come up with $600k if there wasn't a specific lender, different banks different policy. Strange to go from $600k all good to zero.
I feel like I'm the poorest schmuck on this forum. I have only one PPOR , heavily mortgaged, and 0 IPs.
apparently it's easy, just get a 95% loan on a Sydney property and fundamentals will soon reduce that to 50% LVR then you can do it all again
Join the club. I'm on this forum to learn and make some like minded friends. And I can't borrow until November for another property because I'm on workers Comp.
Nah; you haven't learned how to play the game here...
You're meant to say you've got half a dozen dev sites going on, earn a couple hundred k per year and a 40% LVR, and say; "Damn; don't you hate it when yer CBA shares tanked by $80k last month."
But seriously; having none or one doesn't matter; you are here to learn and you'll probably end up with a bagful.
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Why do you need to wait until November? Will you continue to receive payment until you return to work?
Not enough for the banks. Plus we had some complications with our ppor mortgage that has gone against us which won't allow us to borrow until 6 months.
You're on par with a lot of people, you can only have 1 PPOR
I must be even poorer, I'm renting.
"She had paid 27% over what it sold for only last year."
http://propertyupdate.com.au/true-story-day-life-sydney-auction/
http://propertyupdate.com.au/true-story-day-life-sydney-auction/
I don't know how old you are but don't think that way, slogging away at ppor dept is the hardest by far, investments are with other peoples money and if you buy well require little and eventually no contribution by you.
Amazing stuff, great gain for the owners but its one hot market.
Couple of things for peops reading this
RAMS aint Westpac no more than Chrysler is Fiat............ dont try a lo doc app via WBC with RAMS parameters - totally different policies, and insurance categories, big fat decline waiting there.
Most/ Many ? perhaps some brokers can write Rams business........via an agreement with a local fran
ta
rolf
Went direct with RAMs, however insurance certificate had to state "westpac"
Same here. I'm in bne too. Ready to buy another property but not sure what bne is going to do
How old are you ?
We only woke up to property investing after my 40th .
Doesn't take long to learn the basics and if you have bit of equity in your PPOR , it's easy to play catch up .
Cliff
Same.... Feel like so poor compared to all the experienced with millions of portfolio
Now I am curious as to how old you are. My guess is approx 55-60?