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What Do You Do When You Get There?

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  • iwik
    replied
    Yes as mentioned you get the bank to bank on you.

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  • PTILoveYou
    replied
    Originally posted by iwik View Post
    If things are that bad most of the banks will be nervous and
    call risky loans in - learn to walk before you run.
    That's why you need to position yourself in each of the main banks before they become nervous​, ie when times are good like right now!

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  • iwik
    replied
    If things are that bad most of the banks will be nervous and
    call risky loans in - learn to walk before you run.

    Leave a comment:


  • PTILoveYou
    replied
    Originally posted by Damap View Post
    PPOR def different bank to all investments. But the rest is a bad idea. Fine in a boom but come bust time you want it spread around.
    I mean rest of the banks for rentals

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  • Damap
    replied
    PPOR def different bank to all investments. But the rest is a bad idea. Fine in a boom but come bust time you want it spread around.

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  • PTILoveYou
    replied
    Originally posted by iwik View Post
    2 or 3 banks max for me

    Different strokes for different folks
    1 for your own home (incl batch), and rest for rentals.

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  • iwik
    replied
    Originally posted by Damap View Post
    We all know that Gary it's just kcid iwik who doesn't :-)
    Really ?
    http://www.urbandictionary.com/define.php?term=kcid

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  • iwik
    replied
    2 or 3 banks max for me

    Different strokes for different folks

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  • Damap
    replied
    We all know that Gary it's just kcid iwik who doesn't :-)

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

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

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

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  • iwik
    replied
    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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  • Damap
    replied
    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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