We would be able to look at a Lite Doc facility without an ABN for 2 years. As long as the borrower shows on the application they have had experience in the same field. This is not a major issue to La Trobe who also deal with 1 day ABN’s in some cases if the remainder of the deal is strong.

Richard,

Unsure in regards to your issue with…[Read more]

A good website to look at is: http://www.homepriceguide.com.au.

Then go to suburp snapshot and enter the postcode and it provides a demographic guide to the area.

Regards

Andrew

I am also extremely interested in the…[Read more]

I remember an investo talking about investing in Queenstown in the API magazine. There is no real estate agents in the area so it is impossible to have a property manager and you are left to fend for yourself. Trying to get interest in a very isolated rural Tasmanian town is harder then expected. Capital growth in the area is relatively…[Read more]

I work for a lender who would definately look at the properties based on the population size and the actual deal itself and may be able to obtain a higher LVR. If you wish me to follow up on this please feel free to PM me and I will be happy to see what we could offer.

Regards

Andrew

In regards to you the 80% it is definately viable if the property is located in prime location being metro areas. The lender would most likely look at the deal itself and if it is good they will have no problem with 80% with rates from mid 7.6% to mid 8.5%. Anything less is not really going to happen as the loan is a low doc…[Read more]

The property would need to have a living area exceeding 50m2 to get a lend in most cases with the lender looking at 40m2 – 50m2 on merit.

On 50m2 and over you would be looking at around 60-65%…[Read more]

There would be a lot of amending required in order to so and you will most likely have to revisit your accountant to arrange. It may take time as new trust deeds will need to be executed etc.

See your accountant to get further information.

Andrew

With your scenario it is a lot harder to obtain mortage insurance on high density locations less than 50m in size through private lenders. I know when searching I have found between 50 – 65% LVR is the maximum for high density. Also, you must be careful if the property is a serviced apartment as you will fork out the extra and the…[Read more]

If you are looking at development finance then their is definately lenders that I know of that on a duplex construction depending on owner builder or fixed price and good location will look at at standard variable rates.

I have done duplex construction on owner builder (up to 75%) and fixed price (up to 80% depending on the location,…[Read more]

i think I understand what you are saying.

You wish to access some equity from your PPOR in order to pay the deposit on your investment property and then take out an 80% lend to purchase the investment property.

I am confused as to why you need 3 loans when you only need 2. if you have equity in the PPOR for $90K on a loan of $190K…[Read more]

I actually work for a lender who I will keep nameless.I have dealt with this situation on many occasions.

What you can do is if you are only wanting to refinance the investment properties is to seek the services of a lender either through a broker or the lender directly and they will look through your scenario (there is no charge!)…[Read more]

Unfortunately, you will be hard pressed to find a lender prepared to lend 95% on a low-doc investment loan. Most deal in 80% as they will not obtain mortage insurance. I have seen various rates from 7.75% for properties in good areas and if they do not fit within those parameters then you are looking at 8.50%. I deal with a company that…[Read more]

Unsure about the property market in Canberra, but I would say you will need to do some research or have a valuation done on the property to determine if $140K is a fair price. It would definately rely on property sale prices in the area.

With the fixed price contract price you will always find a cheaper price that would be available. I…[Read more]

Wizard (Allan Faint) do look at alternatives to their own products and being part of a lender we deal with him regularly.

Very easy to deal with and we have used him for deals all over Australia.

There are a few shoddy characters I have dealt with as well, but that is for pm.

amerc79

Commercial properties require a funds due to the high LVR, but development sounds like something that may be an option, but personally I am not a fan of vendor finance.

I have found ones that are quite close to be positive and have actually found others that have already been purchased and are under contract. I am very willing to get…[Read more]

If it is working for you then I believe you should continue to buy/develop and hold or you may be able to sell some of the townhouses you develop and use the equity gained to fund other developments or purchases to improve you cash holding etc. It may be beneficial to sell all the townhouses if the return is quite good. Good position…[Read more]

Access some equity for future investment etc or just content with what is happening and enjoy the fantastic cruise.