Building Portfolio on Average Income, Reality or Illusion?

Discussion in 'The Buying & Selling Process' started by Realist35, 22nd Oct, 2016.

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  1. Perthguy

    Perthguy Well-Known Member

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    There are risks with having all your loans with one lender. One of those is being refused when you still have credit capacity if you went with another lender. Might be worth shopping around to see if there is capacity with another lender. I use a finance broker because I don't want to do that kind of work myself.
     
    Perthguy, 25th Nov, 2016
    #421
  2. kitdoctor

    kitdoctor Well-Known Member

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    Sorry I should have pointed out we have our loans spread across CBA, ANZ and Westpac. Mix of IO and P&I the latter with ANZ who refused to continue with IO.
     
    kitdoctor, 25th Nov, 2016
    #422
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

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    ANZ are super conservative for servicing, you may well still have capacity elsewhere.
     
    Jess Peletier, 25th Nov, 2016
    #423
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  4. euro73

    euro73 Well-Known Member Business Member

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    Like I said... extra money appears very achievable. Just not with ANZ :)
     
    euro73, 26th Nov, 2016
    #424
  5. Jimmy_05

    Jimmy_05 Active Member

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    I read through this whole thread. Yes!
     
    Jimmy_05, 20th Oct, 2017
    #425
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  6. Sackie

    Sackie Well-Known Member

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    And what's your conclusion?
     
    Sackie, 20th Oct, 2017
    #426
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  7. Jimmy_05

    Jimmy_05 Active Member

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    I have concluded that @sash 's grammar has gotten significantly worse since somersoft days...




    (Also that building a portfolio on an "average" income is a reality and not an illusion.)
     
    Jimmy_05, 20th Oct, 2017
    #427
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  8. Sackie

    Sackie Well-Known Member

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    I agree it's not an illusion and very possible. I think @skater is one of the people who did just that. Just needs to be planned and structured more carefully is all. :)

    p.s I double checked my grammar :oops:
     
    Sackie, 20th Oct, 2017
    #428
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  9. sash

    sash Well-Known Member

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    Watcha sayin'.........and here I was trying on me best bonganlish.......
     
    sash, 20th Oct, 2017
    #429
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  10. Fargo

    Fargo Well-Known Member

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    You should have about 80K in savings then by now you could use for renovations, or couldn't you use some of those funds from shares that you said you put in cash that give you hundreds $thousands in income .
     
    Fargo, 4th Jul, 2019
    #430
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