the handbrake doesn't always come with deposits when you're getting into one or two properties, the handbrake comes with serviceability as you try to keep buying.
Great video Ravi I have a investment property in Pakenham VIC and in 2years has equity of 200k thousand my loan was 506k with lmi and now value at 702k thousand its a new build house so I’m gonna take some equity out this year to purchase another property cheers 🍻
There's only one complex thing. Working out the right assets to buy! From 2006 to 2010, Gladstone ticked ALL the boxes! It was set to outperform. People are finally selling 16 years later, at the price they paid for it.
You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid. That's how you get your LMI back. This info is from the ATO community.
A positively geared property in 12-18 months….? At the moment we still have relatively low interest rates at ~6.5% but that’s still 6.5k on every 100k you loan. I really doubt people are buying properties that are becoming positively geared in 12-18 months…
Good video. There are some useful pointers in this. I think the discussion around financial freedom is useful to have though it needs to include the the factor of when people have kids. Having kids to early makes it more difficult in the early years to build the 'machine' but easier in the long run as financial freedom comes with non dependent kids. While having kids too old means it may be easier to build the machine but you cant enjoy financial freedom without dependent kids until 50s or 60s. I guess it is a question for everyone to consider.
With that attitude you'll have nothing. We built a home then used equity in that to buy a apartment then a townhouse then moved into new house, rented old one and building again now. Small steps. Our apartment cost 250k in Brisbane 7 yrs later 500k. You don't go out and buy 2 900k properties. A apartment sold yesterday in Melton for 270k so you can still start small even today
@@lengerer there's no we. It's just me so that makes it abit tougher. Plus I'm in Townsville and all the investors from interstate are just snapping up anything decent and cheap here by offering 10-15% over asking site unseen
@@user-cl8bq8mb6x I cut and paste this from the info I got from google I hope it will help >>> You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
@@user-cl8bq8mb6x I cut and paste this info from google I hope it will help you>>> You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
@@user-cl8bq8mb6x You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid. I got this info from ATO community.
Hey Ravi, nice videos! I am a video editor and thumbnail designer. I was wondering if I could level up your videos with quality Editing to boost up your views! Do let me know what you think about it! Thank You!
Currently purchasing another house. I was reluctant to use a B.A i was enquiring for property and amything that was decent was getting snapped up within days and sometimes same day without even 1 open home. Decided to use a B.A and now have a even better house under offer :)
@@jughead18sp nothing yet lol. Around 18k payable after settlement. They didnt really do much that I havent done in the past. But were able to get off market properties which I couldnt
