There spruikers and dont give a sh*t about you!

Watch this video to identify if you are dealing with a spruiker;

http://www.thepropertycouch.com.au/how-to-spot-a-property-spruiker/

@FXD looks like you may have capped out, which is becoming more common.

Pre APRA it was rare occurance that a deal could not be placed, now its a once a week event.

Did they try Liberty or FirstMac as they are one of the few lenders left that will do other banks debt at actual repayments and only buffer debt with them?

@FXD looks like you may have capped out, which is becoming more common.

Pre APRA it was rare occurance that a deal could not be placed, now its a once a week event.

Did they try Liberty or FirstMac as they are one of tbe few lenders left that will do other banks debt at actual repayments and only buffer debt with them?

@FXD looks like you may have capped out, which is becoming more common.

Pre APRA it was rare occurance tjat a deal could not be placed, now its a once a week event.

Did they try Liberty or FirstMac as they are one of tbe few lenders left that will do other banks debt at actual repayments and only buffer debt with them?

Anyway, the actual situation when I said no more borrowing I mean I have heaps of equity but lender will not extend/increase existing
LOC limit or let me have an additional new LOC/loan facility. The reason is simply that no servicing power left.

Do you have all your lending with one bank?

Did the brokers you approached check other banks as…[Read more]

Anyway, the actual situation when I said no more borrowing I mean I have heaps of equity but lender will not extend/increase existing
LOC limit or let me have an additional new LOC/loan facility. The reason is simply that no servicing power left.

Do you have all your lending with one bank?

Did the brokers you approached check other banks as…[Read more]

Does going to MB across different states improves one’s borrowing capacity instead of just stick with the same state due to convenience
and accessibility reason?

If you use a WA Broker you will always be better off ;)

Just joking, it makes no difference as the criteria / process is universal when assessing an application.

Like any p…[Read more]

Does going to MB across different states improves one’s borrowing capacity instead of just stick with the same state due to convenience
and accessibility reason?

If you use a WA Broker you will always be better off ;)

Just joking, it makes no difference as the criteria / process is universal when assessing an application.

Yep and a common tactic is to cross collaterlise the PPOR with the new IP purchase as this will absorb the valuation shortfall which is essentially the spruikers profit.

As novices are the target market they will have know idea what the valautions are and are just so happy that “there loans have been approved”.

Banks, brokers and property…[Read more]

Yep and a common tactic is to cross collaterlise the PPOR with the new IP purchase as this will absorb the valuation shortfall which is essentially the spruikers profit.

As novices are the target market they will have know idea what the valautions are and are just so happy that “there loans have been approved”.

Banks, brokers and property…[Read more]

@Benny – yes indeed and I would estimate 90%+ of investment loans would be deemed “contaminated and not fit for purpose” if thoroughly investigated but they dont drill that deep. I suspect the cost v reward may not be there to do so (yet) as I have never heard of it during an audit from ATO.

I have instructed banks to place funds in a dedicated…[Read more]

You can still borrowing 95%+LMI, however you have to ask yourself whether its worth it.

Some people do no have a choice and are happy to go to 95% + cap on an IP whilst others wont go above 80% so depends on your risk profile.

Corey is correct though, 88% is the sweet spot between leverage and LMI premiums.

Also helps with some banks auto…[Read more]

You can still borrowing 95%+LMI, however you have to ask yourself whether its worth it.

Some people do no have a choice and are happy to go to 95% + cap on an IP whilst others wont go above 80% so depends om your risk profile.

Corey is correct though, 88% is the sweet spot between leverage and LMI premiums.

These are my observations with them so far:

Appears to be targeted towards those without basic knowledge of investing. Advertised as something ‘magical’ which may deter prospective investors who has a basic knowledge or logical reasoning;
Aggressive marketing model – asking referrals and contacting the referrals frequently;
$8700 for the initi…

[Read more]

These are my observations with them so far:

Appears to be targeted towards those without basic knowledge of investing. Advertised as something ‘magical’ which may deter prospective investors who has a basic knowledge or logical reasoning;
Aggressive marketing model – asking referrals and contacting the referrals frequently;
$8700 for the initi…

[Read more]

These are my observations with them so far:

Appears to be targeted towards those without basic knowledge of investing. Advertised as something ‘magical’ which may deter prospective investors who has a basic knowledge or logical reasoning;
Aggressive marketing model – asking referrals and contacting the referrals frequently;
$8700 for the initi…

[Read more]

Depends on the property, is it negatively, neutral or positively geared? Bought in an individual name (trustee) or multiple purchasers. Selling or holding?

Depends on the property, is it negatively, neutral or positively geared? Bought in an individual name (trustees) or multiple purchasers. Selling or holding?

You are correct according to this; http://buyersagentguide.com.au/are-buyers-agents-fees-tax-deductible/

You should be able to claim for those expenses. Ask your accountant to verify first though.