Forum Replies Created
Or do the deal yourself with a Nodoc loan (No evidence of income required) and receive 100% of the profit.
Cheers
Yours in FinanceHi Richard,
What’s the maximum LVR in such scenario?
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
My guess would be that it won’t change the usage but if I were you, I would discuss with my accountant? 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
What are the extra costs involved in owning a Torrens title duplex compared to a house?
I would assume rates would be the same as they’re calculated on land value. Insurance would be similar too, wouldn’t it?
What considerations would you need to take into account if you planned on buying one and then strata titling down the track?
I.e. Seperate water meter and switchboards etc.If the rates are already on ‘minimum threshold’, then having 2 titles will pretty much double the rates.
Building insurance – depends. Seen cases where insurance were higher but can also recall one case it was smaller(!), we were very surprised and the owner jumped on it.
Strata considerations – fire separation walls, zoning, council policy, seperate water and power, council requirements that they bring up during the process, all that fun 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Also having a credit card that hasn’t and doesn’t get used play a roll in my borrowing power?
Lenders will assess your borrowing power while looking at your credit card limit, not the actual amount used. It makes sense as you can max it out the day after the assessment is done.
Good luck on your journey. Solid advices above from Corey 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Hey mate,
Sorry to hear it and good thing you still hold 50% of the fee.
10 days without hearing back + all the delays mentioned is unacceptable in my book. I’m also an investor and if this would have happened to me I would probably give him a reasonable deadline to sort everything out and failing that, would go another avenue to sort it all out ASAP, making this all very clear to him + that it will be well reflected in the final fee he will get.
Hope this helps?
Would be happy to know how it was all sorted out eventually 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Best consult with your accountant to gain specific advice but my guess is that you’ll pay 50% CGT on the capital gain from when the 6 years ended to the sale date (shouldn’t amount to too much, I reckon?)
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Link doesn’t exist?
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Im the process of buying a 3b1b that is returning 10.5% its 55 minutes out of melbz but it fits my stratergy.
happy to answer any questionsHey mate,
10.5% sounds amazing!
Are you happy to elaborate? Is it residential? Dual occupancy? Which suburb? Any work required to get that yield or it’s just buy and hold?
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Agree completely with the comments above except this bit:
However if you are buyer to renovate and on sell you are speculating. So the profit is often in the buying.
I understand where Nigel is coming from but renovators-buyers are not speculators, I reckon. Buy well (that’s always good), renovate well (what to renovate, how, budget, comparables) and get a good profit when selling, even if the market didn’t move at all during that time. That’s not speculation, is it?
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Are you able to provide an example? If you could post a listing and advise the intrinsic value of it and how you came to that figure, that would be great 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Hi Jason,
Sold several of my properties directly so got some insights to share 😎
First of all, do you have sales experiance? Generally speaking, nothing sells itself.
Secondly, are you sure your price expectations are on point?
Of the top of my head:
Pros:
You save the agent fees
You get to meet potential buyers and get a good feel of the marketCons:
You need to organise the photos and a good agency to list through on the real estate listing websites
Feels to me that some buyers are not a fan of meeting the vendor, they maybe feel more comfortable dealing with agents, the old fashion way?
It takes time to deal with the enquiries, the inspections and the open homesHope this helps? 👍😎
Cheers,
EthanEthan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Oki doki 😊
Next meeting after tonight is on October 17th and if you’ll join the group page, you’ll get all the updates there 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
Excellent result and thanks for sharing, Luke!
Love reading real stories (loaded with details, photos and figures!) that showcase how great, easy and quick it can be to turn an ugly duckling to a beautiful golden eggs laying swan 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
One of my favourite sayings is: “If you torture the data long enough, it will confess to anything”
The report is talking about GDP PPP (adjusted to purchasing power)…
No offence and without causing alarm, but according to the logic in this thread, we should all sell all assets in Australia as it will slip down 4 ranks by 2030 and 9 ranks by 2050 😉
Link to report (skimmed, didn’t read):
https://www.pwc.com/gx/en/issues/the-economy/assets/world-in-2050-february-2015.pdfThat said, yeah, who knows, maybe investing in Indonesia will yield better ROI but I personally like to invest where I can control and get finance 😎
Hope this helps?
EthanEthan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
I would like to know whether this kind of situation will reduce the house value if reselling in the future? Thank you for any inputs.
The current situation affects the current price and unless changed, I dare say it will affect the future price as well. The above is true for pretty much every situation.
In other words, you’re buying it relatively cheap now due to the above and you’ll probably sell it relatively cheap due to same.
Hope this makes sense? 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
My suggestion would be to source at least 2 more quotes before making a decision 😉
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This reply was modified 6 years, 11 months ago by
Ethan Timor.
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
I would engage a town planner and take it from there?
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
No idea, buddy. Maybe post some photos? 👍😎
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
I’ve got a staff member who has explained the situation further up the chain and supposedly waiting to hear whether can use old rates for the past week.
Update being, I am no further in my endeavours now than I was a month ago and the month before that.
Hi RMAA,
Guess you didn’t hear anything from that staff member you mentioned? If not, what’s your plan moving forward?
Did you discuss your situation with a broker and see what other offers are available for you in the market place?
Cheers,
EthanEthan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
What does your solicitor advise?
Ethan Timor | Aligned Finance Pty Ltd
http://www.alignedfinance.com.au/
Email Me | Phone MeActive Investor & Broker; Based in Northern NSW, servicing Australia wide; Author of '34 Proven Ways to Maximise Your Borrowing Power' (download free from our website)
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This reply was modified 6 years, 11 months ago by
