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Discussion in 'Introductions' started by vip_leo, 14th Jul, 2016.

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  1. vip_leo

    vip_leo Member

    Joined:
    14th Jul, 2016
    Posts:
    19
    Location:
    Melbourne
    Hello to Everyone

    Just found this forum on Google while looking for some tips and doing aftermath of buying 1st IP.
    I went through few threads and I feel like an alien to this Property Investment world :(
    Had a Information overload and now kinda frozen to any ideas :) :)

    Also, read about avoiding 'cross-collateralisation' but unknowingly I've done it already in the process of buying 1st IP. Now wondering is there any way to fix it with current lender ?? or should I just re-finance. It has been only 2 months though :(

    anyway, I'll be keep checking this forum from now on and looking forward to gain some outstanding knowledge & tips from all of you Experts.....

    Cheers!!!
    VP
     
    vip_leo, 14th Jul, 2016
    #1
  2. Sackie

    Sackie Well-Known Member

    Joined:
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    Vaucluse, Sydney.
    My important twin has arrived. Welcome to the forum.
     
    Sackie, 15th Jul, 2016
    #2
    Taku Ekanayake, Bran, MTR and 6 others like this.
  3. Jess Peletier

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

    Joined:
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    Location:
    Perth WA + Buderim Qld
    Welcome VP.

    You can uncross with your current lender, it should not be an issue at all - just a bunch of new paperwork and possibly some fees.
    Did you pay LMI on the IP purchase?

    It may actually work out cheaper to move lenders, with some of the refinance deals being offered at the moment. It will depend which lender and package you're on.
     
    Jess Peletier, 15th Jul, 2016
    #3
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Location:
    Gold Coast (Australia Wide)
    Hiya

    Welcome

    might be an easy fix........... whats there any LMI involved ??

    ta
    rolf
     
    Rolf Latham, 15th Jul, 2016
    #4
  5. Jamie Moore

    Jamie Moore MORTGAGE BROKER - AUSTRALIA WIDE Business Member

    Joined:
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    Location:
    Canberra, Brisbane and Sunshine Coast
    Welcome aboard alien :)

    Cross coll doesn't have to be the end of the world - can usually be fixed quite easily. Especially if your portfolio LVR is sub 80% and no loans are fixed.

    Cheers

    Jamie
     
    Jamie Moore, 15th Jul, 2016
    #5
  6. Gockie

    Gockie Life is good ☺️ Premium Member

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    Location:
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    Welcome @vip_leo, @Lil Skater will be running a meetup on the last Thursday of this month, I reckon try to get there if you have a free night that evening. :) Look in the meetups section for details.
     
    Gockie, 15th Jul, 2016
    #6
    Lil Skater likes this.
  7. Gockie

    Gockie Life is good ☺️ Premium Member

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    I find it amazing that you both posted this at 4.36am. Granted Jess is all the way over the other side of the country but it's an odd time to snap.
     
    Gockie, 15th Jul, 2016
    #7
    Lil Skater likes this.
  8. Sackie

    Sackie Well-Known Member

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    Location:
    Vaucluse, Sydney.
    Its called unwavering commitment :D My broker routinely meets clients until midnight on most weeks and answers calls 24/7, literally 24/7... I have called her a few times past 2am, she answers with a smile on her face.
     
    Sackie, 15th Jul, 2016
    #8
    Taku Ekanayake and Gockie like this.
  9. Lil Skater

    Lil Skater Well-Known Member

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    Location:
    Melbourne
    And here's me being an old lady and climbing into bed before 10 most nights :oops:

    Thanks for the little plug @Gockie - there's a link to the meet up in my signature for all that are interested :)
     
    Lil Skater, 15th Jul, 2016
    #9
    Gockie likes this.
  10. spludgey

    spludgey Well-Known Member

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    I knew you were a VIP all along Leo! ;)
     
    spludgey, 15th Jul, 2016
    #10
    Sackie likes this.
  11. Sackie

    Sackie Well-Known Member

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    Shhh...gotta keep it under raps for a little longer otherwise I wont be able to get all the help I need:oops: :D
     
    Sackie, 15th Jul, 2016
    #11
  12. Jess Peletier

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

    Joined:
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    Posts:
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    Location:
    Perth WA + Buderim Qld
    Haha - it's called insomnia - it was 2.36am over here! I hate laying awake in bed - much better off doing something productive.
     
    Jess Peletier, 15th Jul, 2016
    #12
    Lil Skater and Sackie like this.
  13. vip_leo

    vip_leo Member

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    14th Jul, 2016
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    Location:
    Melbourne
    Thank You :)
     
    vip_leo, 25th Jul, 2016
    #13
  14. vip_leo

    vip_leo Member

    Joined:
    14th Jul, 2016
    Posts:
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    Location:
    Melbourne
    No, Luckily there's no LMI involved with my either of properties....
     
    vip_leo, 25th Jul, 2016
    #14
  15. ellejay

    ellejay Well-Known Member

    Joined:
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    Location:
    Kimberley and NZ
    Too much information :D
     
    Last edited: 25th Jul, 2016
    ellejay, 25th Jul, 2016
    #15
    Sackie and Bran like this.
  16. Sackie

    Sackie Well-Known Member

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    Location:
    Vaucluse, Sydney.
    You don't know the half of it ...:p
     
    Sackie, 25th Jul, 2016
    #16
  17. ellejay

    ellejay Well-Known Member

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    Location:
    Kimberley and NZ
    Let's keep it that way :D
     
    ellejay, 25th Jul, 2016
    #17
  18. Sackie

    Sackie Well-Known Member

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    Location:
    Vaucluse, Sydney.
    Well boo hoo to you too! :p
     
    Sackie, 25th Jul, 2016
    #18
  19. ellejay

    ellejay Well-Known Member

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    Location:
    Kimberley and NZ
    Okay, I'm jealous. Does she have a twin brother? Apart from the heroic efforts of my very lovely, and awesome broker Dustin at nectar mortgages Adelaide I have to wait days for a response from other (overseas) brokers. No smiles either.
     
    ellejay, 25th Jul, 2016
    #19
  20. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,065
    Location:
    Vaucluse, Sydney.
    No twins I'm afraid but I wouldn't be happy if my broker made me wait days for a response...at least same day response I expect..Your pretty patient :)
     
    Sackie, 25th Jul, 2016
    #20
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