Hi Wassa,

It would be very difficult to give you any mreaningful input without knowing more about your situation eg what is the value of the other properties in your portfolio, what sort of LVR are they on and what would be the taxation implications for each one if sold. You need both a good accountant and a mortgage broker to assist…[Read more]

http://www.homepriceguide.com.au has auction results by suburb. It’s a cheaper option to Residex, though not as comprehensive.

Regards
Alistair

Hi Renee,

You should speak with Chris Lang from Gardner and Lang. He has been assisting people to invest in commercial property for years, both through small private syndicates and individually. His contact details are:

Web Page http://www.gal.com.au
email: chris.lang@gal.com.au

Regards
Alistair Perry

Hi Maxd Out,

As Dematio suggested, if the property has gone up in value you can use the equity in it to get a loan. Selling or drawing on equity would be a lot less problematic than selling a half share.

Regards
Alistair

Hi Collette,

I think there is definately potential for making very large profits in Florida, given the continued strong influx of people which should continue to drive prices up over the longer term. However, it concerns me that prices have risen very substantially over the last few years, so I think risks for short term investors there are…[Read more]

Brett,

You should speak to Roy Halabi. He is based in Sydney, is a licensed financial planner but deals mostly with property. He is also a valued contributor to this forum. His website is http://www.gpsnetwork.com.au.

Regards
Alistair

Hi,

If you are going to offer vendor finance you definately need a specialist lawyer in the state that you will be operating in, multiple lawyers if you intend to operate in more than one State. I’d be happy to give you some names if you post where you will be operating.

Regards
Alistair

Hi Furz,

Bob Collins from Australian Property Finance is up that way. He is one of the most successful brokers in Australia so he must be pretty good. His phone number is 1300 730 050.

Regards
Alistair Perry

Strawberry,

The advice re the try before you buy is sound, and i also think that a property in Richmond will be a good investment long term. However, structuring your finances with a stack of equity in an investment property and none in your PPOR is not a sound debt strategy and, depending on the capital gains consequences and your tax rate,…[Read more]

Hi Noysee,

You are correct that there these types of deals are quite common. I have a contact over there that puts them together, and would be happy to pass on his contact details if you are interested.

Regards
Alistair

Hi Persian,

If you are after a financial advisor that is interested in property Roy Halibi, who posts on here as GPSnetwork would be a good person to speak to. You could fiund some of his posts using the search function or have a look at his website http://www.gpsnetwork.com.au

Regards
Alistair

Hi Strawberry,

I thinkl you should strongly consider selling the Richmond property. Whatever cashflow you get from it will pale into insignificance against the “after tax saving” you will make by having a lower loan amount on your new PPOR. Do the maths on a spreadsheet.

If you would like to have an IP borrow against the large amount of equity…[Read more]

Hi Zyleth,

If you end up purchasing a PPOR and plan to make it an investment property in the future make sure you take out an interest only loan with a 100% offset account. If you don’t do this it will cost you significantly in trerms of taxation benefits when you come to purchase another PPOR.

With regard to your lending capacity, i suggest you…[Read more]

Hi KB1975,

The strategy you are considering is sound, though a little higher risk than buying an existing house. As long as you reralise this and do your homework you will do fine.

If you would like any questions answered re planning regulations please post them on this thread and i will answer them for you. I would also be more than happy to…[Read more]

Bill,

Is the draftsman processing your application for you, or are you doing it yourself? Either way, that is incredibly cheap and if the plans go through OK, I’d love to have the guys contact details. We give out a lot of work to draftsen and architects and usually the good ones are quite expensive.

Regards
Alistair Perry

Nathan,

I beleive it is illegal to provide finance to someone who is an undischarged bankrupt. I hope you have sought legal advice on this as wrapping is a form of finance.

Regards
Alistair

Hi Sbrody,

In terms of your loan, when you apply for a loan if you declare the property to be an IP then you can use some of the rent for servicability, but if you can not claim the First Home Owners Grant (assuming you are eligible for it).

There are also tax implications. If you rent out a room you can claim some of the Interest on your loan…[Read more]

Hi Snowflake,

As far as an accountant goes, I highly recommend Morry Kalkopf from Guests Accounting in Caufield 03 9509 7033. Guests work for some of the largest property investors in Melbourne and have provided me and my business with terrific service. I have also referred a number of other forum members to Morry and all of them have also been…[Read more]

Hi Susan,

The problem with these kinds of properties is that it is difficult to get a decent LVR from a lender, and those that will give you a decent LVR will charge a higher interest rate, killing the yield. You are also unlikely to get much capital growth.

Basically, if you have heaps of equity and need cashflow it may be a reasonable…[Read more]

Hi MGR,

I work as a consultant to developers, through my town planning practice and have seen a lot come and go. The reality of the development industry is that, if you don’t know what you are doing there is a very real chance that you will lose money. I would therefore strongly recommend that, for your first couple of projects at least, you…[Read more]