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 🍻
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.
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…
With that attitude you'll have nothing. We built a home then used equity in that to buy a apartment then a townhouse then moved into new house, rented old one and building again now. Small steps. Our apartment cost 250k in Brisbane 7 yrs later 500k. You don't go out and buy 2 900k properties. A apartment sold yesterday in Melton for 270k so you can still start small even today
@@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
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!
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'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.
@@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.
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
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 🍻
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.
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…
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
Sure il just go to the bank and get 2 $900k loans. They shouldn't have an issue with that.
With that attitude you'll have nothing.
We built a home then used equity in that to buy a apartment then a townhouse then moved into new house, rented old one and building again now.
Small steps.
Our apartment cost 250k in Brisbane 7 yrs later 500k.
You don't go out and buy 2 900k properties.
A apartment sold yesterday in Melton for 270k so you can still start small even today
@@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
@@dustblowingman you can buy in other parts of Australia. The only thing holding you back is yourself
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!
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 🙏🏼
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'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 👍⭐
you are the man Ravi!
Did you mention that LMI is tax deductible?
Really? Go on, I'm listening
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.
Great vid. If I’m inheriting $2mil would I be able to buy house to live in AND an investment or two?
Awesome content like always Ravi 🔥🔥
Keep buying 3 ,4 ,5 ,6 let’s see who has the last laugh
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
Love your videos Ravi. Very informative and top content.
Glad you like them!
Is there any way to start building towards this as a full-time uni student??
Save save save
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 😊
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