the handbrake doesn't always come with deposits when you're getting into one or two properties, the handbrake comes with serviceability as you try to keep buying.
Great video Ravi I have a investment property in Pakenham VIC and in 2years has equity of 200k thousand my loan was 506k with lmi and now value at 702k thousand its a new build house so I’m gonna take some equity out this year to purchase another property cheers 🍻
You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid. That's how you get your LMI back. This info is from the ATO community.
Good video. There are some useful pointers in this. I think the discussion around financial freedom is useful to have though it needs to include the the factor of when people have kids. Having kids to early makes it more difficult in the early years to build the 'machine' but easier in the long run as financial freedom comes with non dependent kids. While having kids too old means it may be easier to build the machine but you cant enjoy financial freedom without dependent kids until 50s or 60s. I guess it is a question for everyone to consider.
There's only one complex thing. Working out the right assets to buy! From 2006 to 2010, Gladstone ticked ALL the boxes! It was set to outperform. People are finally selling 16 years later, at the price they paid for it.
A positively geared property in 12-18 months….? At the moment we still have relatively low interest rates at ~6.5% but that’s still 6.5k on every 100k you loan. I really doubt people are buying properties that are becoming positively geared in 12-18 months…
Buyers Agent are also after their commission, the more they sell/month the more commission they get. Would you trust your kid with a stranger? Why would trust $1M, $2M of your money with a stranger/BA - BA's are just sales agent just as bad as a REA. They manipulate you as a buyer so they can sell and move on to the next person.
@@KabirIslam-g3z I cut and paste this from the info I got from google I hope it will help >>> You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
@@KabirIslam-g3z I cut and paste this info from google I hope it will help you>>> You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
@@KabirIslam-g3z You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid. I got this info from ATO community.
@@lengerer there's no we. It's just me so that makes it abit tougher. Plus I'm in Townsville and all the investors from interstate are just snapping up anything decent and cheap here by offering 10-15% over asking site unseen
Currently purchasing another house. I was reluctant to use a B.A i was enquiring for property and amything that was decent was getting snapped up within days and sometimes same day without even 1 open home. Decided to use a B.A and now have a even better house under offer :)
@@jughead18sp nothing yet lol. Around 18k payable after settlement. They didnt really do much that I havent done in the past. But were able to get off market properties which I couldnt
Hey Ravi, nice videos! I am a video editor and thumbnail designer. I was wondering if I could level up your videos with quality Editing to boost up your views! Do let me know what you think about it! Thank You!
the handbrake doesn't always come with deposits when you're getting into one or two properties, the handbrake comes with serviceability as you try to keep buying.
Great video Ravi I have a investment property in Pakenham VIC and in 2years has equity of 200k thousand my loan was 506k with lmi and now value at 702k thousand its a new build house so I’m gonna take some equity out this year to purchase another property cheers 🍻
I’m in this exact position. 3 properties with my wife, we’ve just moved two from p&I to interest only. Thanks for all your content 🙏🏼
You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
That's how you get your LMI back.
This info is from the ATO community.
Another excellent vid Ravi. Lots of basics covered in one vid. Short, sweet and simply explained so everyone can understand 👍⭐
Good video. There are some useful pointers in this. I think the discussion around financial freedom is useful to have though it needs to include the the factor of when people have kids. Having kids to early makes it more difficult in the early years to build the 'machine' but easier in the long run as financial freedom comes with non dependent kids. While having kids too old means it may be easier to build the machine but you cant enjoy financial freedom without dependent kids until 50s or 60s. I guess it is a question for everyone to consider.
Very helpful thanks bro. Currently planning my steps towards my first investment property 💪🏻
There's only one complex thing. Working out the right assets to buy!
From 2006 to 2010, Gladstone ticked ALL the boxes! It was set to outperform. People are finally selling 16 years later, at the price they paid for it.
you are the man Ravi!
Love your videos Ravi. Very informative and top content.
Glad you like them!
Did you mention that LMI is tax deductible?
Really? Go on, I'm listening
Great vid. If I’m inheriting $2mil would I be able to buy house to live in AND an investment or two?
A positively geared property in 12-18 months….? At the moment we still have relatively low interest rates at ~6.5% but that’s still 6.5k on every 100k you loan. I really doubt people are buying properties that are becoming positively geared in 12-18 months…
Awesome content like always Ravi 🔥🔥
Buyers Agent are also after their commission, the more they sell/month the more commission they get. Would you trust your kid with a stranger? Why would trust $1M, $2M of your money with a stranger/BA - BA's are just sales agent just as bad as a REA. They manipulate you as a buyer so they can sell and move on to the next person.
Is there any way to start building towards this as a full-time uni student??
I'm not too afraid to pay for LMI, because you can claim it back once you paid off the mortgage.
If I refinance to another Bank, Can I still claim LMIA back to the very 1st Bank ( I used to purchase the property )?
@@KabirIslam-g3z You have to contact the lender wether your qualified to get it back because technicaly you paid it off.
@@KabirIslam-g3z I cut and paste this from the info I got from google I hope it will help >>> You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
@@KabirIslam-g3z I cut and paste this info from google I hope it will help you>>>
You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
@@KabirIslam-g3z You'll need to contact your lender to request an LMI refund, who will then process it with the insurer. Helia and QBE, the two major mortgage insurance providers in Australia, both do not allow refunds if a request isn't made within a certain timeframe after the loan is repaid.
I got this info from ATO community.
Love your videos, mate! Always smash the like button 0.05 seconds into the video 😊
Do u think Lithgow property prices will go up once the second airport is running in 2026 ?
And by how much
You should cash out refinance your brain and use that equity to do some research on this area rather than asking lazy questions
Sure il just go to the bank and get 2 $900k loans. They shouldn't have an issue with that.
@@lengerer there's no we. It's just me so that makes it abit tougher. Plus I'm in Townsville and all the investors from interstate are just snapping up anything decent and cheap here by offering 10-15% over asking site unseen
Currently purchasing another house. I was reluctant to use a B.A i was enquiring for property and amything that was decent was getting snapped up within days and sometimes same day without even 1 open home.
Decided to use a B.A and now have a even better house under offer :)
How much did you pay your buyers agent?
@@jughead18sp nothing yet lol. Around 18k payable after settlement. They didnt really do much that I havent done in the past. But were able to get off market properties which I couldnt
@@jughead18sp havent paid them yet lol. They'll get paid on settlement. 18k is there cost
@@josesworld419 wow thats hefty
Hey Ravi, nice videos!
I am a video editor and thumbnail designer. I was wondering if I could level up your videos with quality Editing to boost up your views! Do let me know what you think about it! Thank You!
The demand for units will not decline as the immigration rates continue to rise .
Keep buying 3 ,4 ,5 ,6 let’s see who has the last laugh
Buy 5 properties and pay land tax and extra interest rates 😂😂
What’s the alternative? Work until 65 and hope the pension is enough?
Ayee caramba