"Would it make a difference if we asked for lower amount instead?" This is one of the most common questions of 2022. Lending criteria, partially thanks to the unbelievably inappropriate but politically highly convenient piece of legislation known as the CCCFA, is something you've likely heard about by now. I was one of the
I've been loyal to my bank, so they'll look after me! Yes, this used to be true...but...Loyalty is NOT rewarded these days my friend! Here’s why: 1 - It’s not the bank who cares about you - it’s the PEOPLE. And good people often move on and get promoted! 2 - Rules trump all in
You could be smoking crack or selling babies on eBay, but no this is way, waaaaaaaay worse - you're a property investor! All your non-property investor friends think you’ve run off and joined a cult, your uncle thinks you’re insane for borrowing that amount of money, and the only one excited is your mortgage adviser!!
Imagine you're dying of cancer - would you be willing to do almost anything to win back good health? In a battle for life and death, what would you do to win? There are 3 traps that snare many home buyers - here they are, and you won't hear this anywhere else! 1 - The
Ever been late to a gathering just to find out that you clearly missed the party? Nope, it wasn’t the Asti Spumante or the cheap cologne, you just got the timing wrong. A ‘property investment bull trap’ occurs when you’re too late to the party. You hear amazing things about the gains and experiences of
Righto, let’s have a crack at a topic that people like me don’t like talking about. The main reason why is because it’s new, and anything new, especially when it has the potential to change the status quo, makes one feel uncomfortable. Do you kind of feel the same way? So yeah, this stuff scares
Never! A boat: A wedge-shaped fibreglass hole in the water large enough to absorb all your disposable income. If the weather's right, if you have time, and if it doesn’t need maintenance and repair, you’ll have a great day on the water every time! Now do I endorse borrowing to put anything on the house
I’ve seen this story play out a hundred times in the last couple of years: First home is great, then come the children and the walls start moving in like that scene from Star Wars. The house just isn’t big enough anymore and it’s time for a change. The kitchen needs work, you need another
Possibly every first-time property investor has asked me this question. Understandably, if you’re making the call to buy an investment property, you’re comfortable with exceedingly large amounts of debt and taking a risk, for the promise of return down the line. If you’ve read the article on the MRTMAD method and tomorrow’s you, then you’ll
I really do pity the fool who hasn’t heard of the MRTMAD method. Here’s my dirty secret though: Just made it up. Mortgage Reduction Through More Accumulation of Debt - yip, that’s a thing now as I have an acronym. The typical mortgage comes out of the box on a 30 year loan term. You’ll
