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  • Schpelling not his thong Wayne :-)
    I too wish I had no debt. Well actually that's not true. Investment real estate has changed my life. My kids will inherit some debt but I am under 4 million for the first time in a long time!!

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    • A spelling breach all you got ?

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      • Can you hear that strange, rebarbative, whining noise in the background Wayne?

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        • Originally posted by Damap View Post
          Can you hear that strange, rebarbative, whining noise in the background Wayne?
          If I was a moderator or owned this site I would be keeping a close eye on you,
          as its people like you who try to get a rise out of people give forums a bad name.
          A forum that ends up with a whole lot of bad apples that good apples do not wish to be a part
          of. From the time I came back here recently, if I said something was black you just had to say
          it was white to try and get a rise.

          Unlike others in here the weak character you have displayed its a very brave
          financial institution that lent you 4 plus million dollars.

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          • ...........................
            OK, fellow forumites, keep it seemly please.
            No more ad hominem is the way to do it.

            Perry
            Moderator
            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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            • Originally posted by Perry View Post
              ..OK, fellow forumites, keep it seemly please.
              No more ad hominem is the way to do it.
              Roger that Perry - I had to look that one up, not in my lexion

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              • Intellect is the virtue of ignoring one’s emotions’ attempt to contaminate one’s opinions.

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                • As an aside you would never get 4 mil from one bank iwik that would be suicide. Always be under a mil with each bank if you can for risk minimisation. I had loans with 11 banks I am now down to 5.

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                  • Good advice there. Under $1mil and 5 or less properties per bank is a good benchmark.

                    11 banks though, really? Did you have to go to second and third tier lenders charging crazy rates? Have a list available?
                    AAT Accounting Services - Property Specialist - [email protected]
                    Fixed price fees and quick knowledgeable service for property investors & traders!

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                    • This was before some of them merged. I had loans with let me think:
                      ANZ, National, Westpac, ASB, Sovereign, Pioneer, United, HBS, NZF, BNZ. There was one more I forget now. Those were the days. I only used Mezz funders for bridging.

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                      • Originally posted by Anthonyacat View Post
                        Good advice there. Under $1mil and 5 or less properties per bank is a good benchmark.

                        11 banks though, really? Did you have to go to second and third tier lenders charging crazy rates? Have a list available?
                        1 million chump change these days.

                        Anthony, what are you concerned about having a couple of million with the one bank ?

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                        • If you learn how to read complete sentences you would know.

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                          • Originally posted by Damap View Post
                            If you learn how to read complete sentences you would know.
                            Its sounds extreme - missing out on huge discounts, getting to the
                            stage where the bank banks on you. If you are afraid of your bank saying
                            no maybe you are over committed in more ways than one.
                            Like the big boys leave a bank once they reach 1 million,
                            price of one average house in Auckland.

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                            • Oh well he obviously can't read. Sad.

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                              • Under $1mil and 5 or less properties per bank is a good benchmark.

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