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

February 9, 2005 - 3:08 am

Colonial do this also.

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

February 8, 2005 - 8:42 am

Hi Jacqui,

Most lenders don’t like vendor finance, so your brother would have to find one that is OK with this kind of deal.

There have been a few posts on this subject before. I know Mortgageman, who posts here, has a lender that can do this type of loan.

Regards
Alistair

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

February 6, 2005 - 11:40 pm

Hi Shane,

You should start by having a look at how your loans are structured and which lender you want to use. You would need both an accountant and a broker to do this. Then get your properties revalued by a valuer that is approved by the lender aqnd then apply to the lender to have the increased (hopefully) value taken into account when they asses your equity position.

Regards
Alistair

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

February 6, 2005 - 11:35 pm

Hi Collie,

Would you need council approval to change the use of the hall. I know of quite a few churches that have been transformed into houses, if you have approval to do something similar I would think you would need just a basic resedential construction loan.

Regards
Alistair

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

February 5, 2005 - 2:29 pm

Hi aumeow,

Baycorp Advantage is the company that would hold your credit record. Have a look at their web site and you will be able to work out how to access your credit record.

If you have an impaired credit history you can still get a loan, but the rates are higher. I’m not sure but I think you need a larger than normal deposit also.

Regards
Alistair

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

February 4, 2005 - 2:36 am

Car loans are a great way to keep yourself poor. I have never taken one out and never will. If you have to have a new car because of your job or whatever, you should pay it off ASAP.

If you have equity in your house you can leverage off it, you just need to make sure that the cash flow you get is sufficient (whether negatively or positively geared) so that you can make the repayments.

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

February 3, 2005 - 11:33 pm

Mr Vip,

If finding a deposit is a problem, as long as you are servicable you should be able to get a much better rate than 8.2% on a 100% mortgage.

Regards
Alistair

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

February 3, 2005 - 8:07 am

Calvin,

I have a similer problem, except my wife is happy for me to spend money on our house but gives me greif if it is investing. I get around it by promising to go over everything with our accountant before I spend money.

Regards
Alistair

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

February 3, 2005 - 7:32 am

Hi Jaco,

What is it you want to know? You will need to be a bit more specific.

Regards
Alistair

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

February 3, 2005 - 4:38 am

Hi Tombala,

I’d be in for that. Email me details if it goes ahead.

Regards
Alistair
[email protected]

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

February 2, 2005 - 1:55 am

Muli,

You should take account of the negative sentiment shown towards the property market by some on this forum, as they are definately not the only people with these views. However, you should also consider that there are also always opportunities in any market. If you worry about prophesies that may never come to fruition you will be sitting on your hands forever.

Purchasing a PPOR is also not just an investment decision. Think carefully about the pro’s and cons of purchasing in the current realestate market, and also with regard to your lifestyle. If the decision is that you still want to buy you can even borrow 100% at a reasonably good rate, if you have a good stable income.

Good luck with your decision.

Alistair

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

February 1, 2005 - 11:45 pm

Torachan,

It is possible to make money at any stage of a cycle. Obviously it will be more difficult over the next few years, but thats hardly a reason to sit on your hands.

Regards
Alistair

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

February 1, 2005 - 2:26 am

Bonnie,

You could try doing a vendor finance deal. This would give you some cashflow.

Regards
Alistair

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

February 1, 2005 - 2:04 am

Hi Asjov1,

There are many loans that have this feature. You simply specify to the lender/broker you are dealing with that you wish to have this feature attached to your loan and they will point you to appropriate products.

Regards
Alistair

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

January 31, 2005 - 11:37 pm

You definately need to do some due diligence with regard to the number of units you will be able to get onto the land. In addition to Michaels points, you also need to factor in time to get the permits and holding costs.

Town planning is often a slow process, especially if the land is in an area where anti-development groups are active.

You can have a look at the zoning, overlays etc and read the planning scheme for the area at http://www.dse.vic.gov.au

Regards
Alistair

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

January 31, 2005 - 11:29 pm

Hi Mitch,

Lease options are definately possible in SA. There are plenty of people doing them.

Alistair

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

January 31, 2005 - 7:37 am

I wish I had a problem liken that. My personal preference would be conservative. I would pay off the loan on the PPOR, if you still have one. I would then park the rest in one or more of the other loans and redraw as other opportunities arise.

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

January 31, 2005 - 2:18 am

There are new products coming out all the time from different lenders and it would take a lot of work to keep up to date with them if you don’t do so as a business. Also, as you don’t have to pay brokers yourself and you’re unlikely to get a better deal by going direct, I can’t see any reason not to use a broker.

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

January 28, 2005 - 8:31 am

Hi s2ss,

If you go over 4 units in a development, you might be forced to apply for commercial finance, which is more expensive.

I quite liked Peter Spann’s book too. I found his “wealthy friend” a bit annoying though.

Regards
Alistair

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

January 27, 2005 - 7:35 am

Hi Phil,

There are also 100% loans available from a few lenders, although I think they only lend for owner occupied properties.

Regards
Alistair