Amy Lunardi

speaker

1,235 appearances 4 recordings 1 series first heard May 2020 last heard Dec 2022

Amy Lunardi’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Buying property? 10 expert tips for first home buyers in 2021 · 7 Jun 2021 podcast

And they can be fickle.

They can be vendors that are really unmotivated with off markets or maybe they want way too much money.

So take it with a grain of salt, but just understand that there are thousands out there at any point in time.

So it's kind of like I like to compare it to the dark internet, the dark web, in that you don't know what's in there.

You don't know what's accessible unless you actually get given an address.

And even if you ultimately end up buying a property that's on the internet, at least you know that you've canvassed all of those other ones.

You've got context and you know that you're making the right decision because you know what else is out there.

So it just gives you that little bit more confidence in your decision-making when the time comes.

Yeah, if you're in a flat or if you're in a decreasing market, your opportunity cost is less than if you're in a rising market because your cost of catching up with that market is likely going to be higher than that LMI.

And a lot of people don't realize that LMI can often be added onto the loan.

So it's not a big bulk upfront cost.

So it will cost you more in interest over time.

It'll cost you a little bit more in repayments.

But look, I got, Chris, you'll hate this.

I got a 97% loan for my second property.

But that was because it fit in line with my strategy and I was on quite an aggressive portfolio building journey at the time.

So I actually very much support LMI, perhaps not that high, but it allowed me to get into the market at the right time.

So my next tip, this is more of a practical tip.

So if you're already in the market and you're going to properties and you're putting offers in, sometimes you might find yourself in an offer situation, which is called a closed envelope or a best and highest situation.

And this can happen with private sales and off markets, but it can sometimes happen when

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