Great video on Advanced Property Finance

I’m a huge fan of Steve McKnight, if you haven’t had a chance to read his latest revision of 1 to 130 properties here is my review of it.

With the Global finance crisis, and Australia government even feeling it had to guarantee bank deposit scared people,
Bank supposedly stopped low Doc lending. This is a great 80-minute video about how banks lend money, different types of lending and even understanding that some banks have quirks (for example ANZ doesn’t like to lend to printing companies).

Lending is such a important part of investing in property, and when I talk to a friend who is a mortgage broker he points out how different each bank is and he is so surprised people don’t shop around they just go to the bank they use personally. This can costs people ten of thousands of dollars for what, laziness? Property is a very finicky investment. It definitely took me a while to get used to. Things like paying for repairs on a investment property because a tenant demand it while neglecting to do the same repairs on my own place. (I find peoples attachment to property fascinating, the OWNERSHIP = IDENTITY), people blame the renovation show but I don’t know Australia as a whole is very keen on home ownership.
Anyway back to the video, Alistair even answers how the bank calculates how the bank works out your maximum borrowing rate. Even this area banks differ shop around.
This is recorded at one of Mcknight advance training property training courses check it out.

Advance Property finance video link