[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

June 18, 2010 - 1:06 pm

Thanks Richard.

Would you be able to do the loan? What rate are we talking about and would I be able to refinance to a lower rate in a year or so?

Cheers

Bernard

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

May 1, 2010 - 9:11 am

Gday all.

My wife and I are moving to Canberra in July this year and will be looking to get started in property. Looking for a do'er upper in the ACT. Is this meeting on every month? Week? Sounds like a great idea

Cheers.

Bernard

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

April 6, 2010 - 10:40 am

Bfree2live wrote:

Hi Andrew

I built 4 units in Toowoomba (west of Brisbane) for $580K which included absolutely all fees, just to give you a bit of an idea.

Hello

Which builder did you use to get these done in Toowoomba? Im looking for a block there now.

Cheers.

Bernard

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

April 6, 2010 - 10:09 am

So is the 95% loan available for investment purposes or would it only be for your own property  to live in?

Cheers

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

January 13, 2010 - 4:21 am

ezy.home.loans23320 wrote:

Hi I have been a broker for 4 yrs and I live in brisbane north side.I will be happy to help in any way .I can do many banks and non banks also lodoc and nodoc loans .Maurn [email protected][angel]

Your service sounds interesting. Ive been trying to send you an email re a loan inquiry however your mail bounces back. Dont know why.

Thanks

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

October 21, 2009 - 2:39 pm

Hi all,

I too have a query about buying a 2nd IP and how to structure the financing.

The question is for my wife and her friend who is a pensioner but currently owns an IP which she recently renovated in the Blue Mountains, nsw worth about $420k – $440k with about $250k owing on the loan. They recently finished built and sold a property early on this year but are looking to purchase a 2nd IP for reno or to build a new IP for renting out. 

My wife in addition has about $35k in savings and is a director of a printing company that she has been running for 3 years now has a turnover of about $140k / yr gross. So basically my wife has the 'earning' side and her friend has the 'asset' side (and also whatever she earns from her pension).

The property they are considering purchasing will cost about $270k but ideally my wife would like to save the cash for costs etc and use any available equity in the existing IP owned by her friend.

Any thoughts on this situation or is it better to just keep saving up more $$ and just using that as a deposit. They just dont know.

Will really appreciate your wisdom

Thankyou

Bernard

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

October 1, 2009 - 11:36 am

Gday,

With No Doc loans is 75% the max lvr currently attainable? Is 80% low doc still around and whats the story with 90% no genuine saving history loans? We still need to provide financials dont we there?

Im ready soon to purchase a block or 2 in rural qld and build a rental IP/s. Ill have a 25% deposit very soon but just wanted to know if there were any ways I could save cash.

Thanks a bunch.

Bernard

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

February 15, 2009 - 8:33 am

Qlds007 wrote:

A lot of brokers would have no idea about how to do a multi unit complex.

As Terry mentioned doing it lodoc maybe a thing of the past due to the recent mortgage insurance restrictions.

In saying that with the equity you have in the property there are a couple of lenders who would do the deal as is but unfortunately the Dragon is not one of those.

Thankyou for your reply. What lenders would be interested in taking this deal on? I dont understand why Dragon wont do it considering my current broker covered all angles and put the app through. Just waiting on an answer this week. Hopefully he's right in going with St george I dunno.  

Oh well im open to any suggestions and funders. Thankyou all again.

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

November 18, 2008 - 12:17 am

Hello,

Your Developers Edge website is not working. Just really interested to enquire about your services as we are starting another duplex project in 2009 in Toowoomba QLD.

Thankyou.

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

August 26, 2008 - 9:16 am

sunseeker wrote:

Hi
I have a similar development cooperative project on the go here on Queensland Sunshine Coast.  A DA in place and eight residential 2 and 3 bdrm apartments aimed at those wishing to downsize without loss of amenity and space.  Detailed figures are available and contributors join the trust by depositing $100,000.00 each which equates to 30% of the overall construction cost.  I have a bank prepared to finance the trust on this basis provided each individual guarantees to settle on completion.

This concept was developed to overcome a general reluctance in the market to commit to pre-sales and is very much a win win for everyone involved (well after I realised that I would have to sacrifice margin to get this financed that is).

I have been contacting potential participants over last week and have three apartments left to finalise arrangements and put everything in place to start in Feb 09.

Figures demonstrate a potential capital gain in excess of $100,000.00 dependant on the apartment chosen and state of the market at the time (Nov 09).  My opinion is that we will see price increases in that later half of 2009 driven largely be the pent up supply/demand situation here.

This is a very genuine and transparent offer that i would be pleased to send detail should anyone be ineterested enough to consider.

Incidentally I have a very experienced Project Manager, outstanding location and all the essentials for future success for this development.

Consider the situation whereby the initial contribution is made on a line of credit or loan with interest only and capitalised.  This results in very minimal outlay  over the entire construction period.  Ability to settle at the end on the balance is required though (some may desire units to be sold when a display is available).

I am from Sydney and finishing off a 3 bed dual occupancy in Toowoomba at the moment and will have a large equity base when finished and am seeking to begin another project at the end of the year. Wouldnt mind getting a little more info, figures etc about being a part of such a cooperative.

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

December 3, 2006 - 5:33 am

Hi all,

With what Terryw was saying about new 85% Low doc loan with Rams, does the purpose have to be strictly for a residential property or can it be for a development or even debt consolidation etc?

Also what exactly would you need to provide? Having no ABN at the moment yet I have traded in the past this may suit me as I do have a property worth $420K paid out in NSW and intend to use the 85% to fund a land purchase with an intention to develop + also need to consolidate a few debts etc.

Thankyou for your time.

[bernstarParticipant@bernstarJoin Date: 2005Post Count: 16]

December 3, 2006 - 4:56 am

Hi,

Thankyou all for the responses. No they are very much on the ball and Ill also be assisting with the managment etc. as I do have development experience however it is merely the finance they need to secure.

They are contacting a broker tomorrow to achieve some options however if they could simply have access to the equity say in my financee’s associates home then we could purchase the land and have plans approved etc. as hemma was saying and sell off plan however I dont know what the max possible LVR could be if they were to access equity. And yes very interested in an artist impression [cap] however they’d want to secure this finance first which personally dont see a prob if such a security is offered? I think?[eh]

“If her business associate is wishing to offer his property as security then a LOC would be possible and you could fund 100% of the required amount”

What sort of loan would they be looking for if they wanted to do this? It would really be great if there was a simple way to fund 100% of the entire development. I guess theres heaps of products out now.