[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 27, 2005 - 5:39 am

Purchasing a PPOR is definately something you should consider, especially if you are willing to do some renovations. You will get the FHOG and CGT exemption (if you live in it for 12 months of more). Its a good way, relatively low risk way of entering the market.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 23, 2005 - 1:44 am

Hi RTC,

Is the $9,000 genuine savings? you will have a much better chance if this is the case.

Lenders are pretty strict with their criteria for high LVR loans, but it would be worthwhile speaking with a broker about your situation.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 21, 2005 - 11:47 pm

Nigel Kibel is another contributor to this forum, who would be worth contacting. I’ve had some dealings with Nigel recently, he is very knowledgable and a great guy.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 21, 2005 - 11:41 pm

Hi firefox,

In that price range, you might be able to pick up a decent place in Yarraville or West Footscray. They are both very close to the CBD, have good infrastructure and are rapidly moving upmarket.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 15, 2005 - 4:51 am

Hi Newstart,

We offer town planning, mortgage broking and research services.

Regards
Alistair Perry

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 9, 2005 - 12:11 am

Andrew Goldberger at Guests Accounting in Caufield is very good. We use him and so do some of our clients, who are very big property developers. Have a look at their web site http://www.guests.com.au

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 8, 2005 - 11:53 pm

(We know you have bought over 150. Surely you have an income now that allows you to forget about investment and to “retire” eg move onto more enjoyable things?

If you answer along the lines of “oh I enjoy property investing” I would argue you are a workaholic who needs to get a life.)

Why do you find it so surprising that Steve chooses to continue working, he is far from alone. Kerry Packer and Rupert Murdoch haven’t retired and they are infinately more wealthy.

Is it that hard to comprehend that some people get enjoyment and/or a sense of accomplishment out of what they do?

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 6, 2005 - 6:47 am

Have you thought of borrowing against your investment property to pay for a deposit on the farm. This will be at a cheaper rate than you will probably have to pay on the loan for the farm, assuming you would need a commercial loan for the bulk of that purchase.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 6, 2005 - 12:31 am

It is very difficult to get finance in the US, for a foreign national, especially if you are looking at property in upstate New York, as are most of the Aussies who are investing over there.

There are a couple of options that are currently avauilable to those who wish to purchase around the Buffalo area. The loans that are available are not ideal, but there are people working hard to make further options available.

It is actually easier to purchase in your own name, than through an LLC, although you can then transfer the property relatively easily. You definately do not need to have an LLC in the State that you are buying.

Servicability is actually not that big an issue, as there are loans that do not require proof of income.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 3, 2005 - 7:15 am

They are offering loans in Australia, to people living overseas. Not much help for an Auusie wanting to borrow against an asset located in a foreign country.

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

June 3, 2005 - 1:55 am

Rebates are commonly used by developers, particularly for presales, as they do not want the whole of the devlopment being valued at the price of a small percentage of the units.

There are lenders that realise this and will lend against the contract price, pre rebate.

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 30, 2005 - 4:23 am

Hi Prady,

LVR refers to leverage, the portion of the purchase that is funded from borrowings.

The additional 6% on a 106% lend is to pay for expenses that incured during the purchase.

The estimated funds required are for costs that you must cover yourself, in the case of a 100% loan this will include stamp duty, LMI etc. For the 95% lend scenario the 5% deposit is also included, but he has allowed for LMI being capitalised.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 30, 2005 - 2:15 am

Prady,

The interest rate on 100% loans are not actually that high, you can access a wide range of loans at 95% LVR, some of which will allow you to capitalise mortgage insurance up to 97%. These include some of the lowest rate loans on the market.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 29, 2005 - 11:57 pm

Allan,

Finance is possible, you would probably have to get a private lender involved though, to get the LVR down for the primary lender. I have a client who is in this situation currently, they are paying 22% for the private money portion.

Regards
Alistair

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 29, 2005 - 2:51 am

What is the amount they want to borrow and I’ll ask?

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 29, 2005 - 12:45 am

No I won’t, as my arrangement with them gives me somewhat of an advantage over commercial brokers. I don’t know if they would be of much interest to a full time broker in any case, as their referal fees are not very high. I should stress that such a rate is only possible with a very strong deal, ie 70% LVR or lower, blue chip tennant and long lease.

The major banks will do these types of rates on occasions too, but not often.

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 29, 2005 - 12:35 am

Allan, anything is possible, but you would be looking at a pretty high rate.

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 28, 2005 - 12:34 pm

Yes, they do a pretty thorough due diligence, although the process usually onmly takes a couple of days.

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 28, 2005 - 12:31 pm

You should make sure that you can get finance for the deal and what sort of LVR is available.

[Alistair PerryParticipant@aperryJoin Date: 2004Post Count: 891]

May 28, 2005 - 12:20 pm

Rob, you can get down to low 7’s at 70% LVR if the deal is strong enough. It is VERY dependent on the individual situation though.