[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 31, 2021 - 4:58 pm

It’s itemized in WA and they give you an option of paying 100% upfront for a small premium they let you pay it off in installments.

My property manager does this all for me, so no need to stress about it personally.

Colin Rice | CDR Finance
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 31, 2021 - 4:47 pm

If you are not planning on selling for 12 months and won’t be able to title for 6 months due to paying off the OSC then it gives you 6 months to get titles ready in order to sell the units individually, cant see anything obvious that will prevent this happening?

Colin Rice | CDR Finance
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 31, 2021 - 4:42 pm

What area/s are you looking in as this will determine a local BA to recommend?

Colin Rice | CDR Finance
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 28, 2021 - 3:18 pm

You have the rate offered to you and then the assessment rate that varies between 5 to 8% so choosing a lender/product with a lower assessment rate can bump up borrowing capacity somewhat.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 28, 2021 - 3:12 pm

ergoudan wrote:

Thanks for your advice. I ended up buying a cheap motel in 2016 and sold it in early 2021. Paid a little over $400,000 for a FHGC and the capitalization rate had been about 40-50% (net a little over $200,000 pa).

That’s a nice result, kudos.

Colin Rice | CDR Finance
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 28, 2021 - 3:10 pm

The agent will know what the reason is, whether he will disclose or not  (doesn’t sound that way) is the test. Go back and ask him/her why the seller doesn’t allow a building inspection.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 28, 2021 - 3:05 pm

@chief Wigam Try Peter Trusteeg from Sage Finance

• This reply was modified 2 years, 11 months ago by  Colin Rice.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 28, 2021 - 2:59 pm

Put property in a discretionary trust, live there and sign a lease and pay rent to the trust, run a business from home and the rent becomes a deductible business expense as a bonus.

Seek advice from an accountant first, as always.

• This reply was modified 2 years, 11 months ago by  Colin Rice.
• This reply was modified 2 years, 11 months ago by  Colin Rice.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 28, 2021 - 2:49 pm

I use it to create interest and develop a personal brand, to me every bit of visibility you can attain will leave an impression on your followers/lurkers’ minds, and when someone mentions a need for your service you get a mention. It seems the best approach is to be indirect and show that you have an active and interesting life to garner a following, rather than direct sales.

Colin Rice | CDR Finance
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 27, 2021 - 5:02 pm

Went to a seminar last night and Perth people pay 24% of nett wages to rent/mortgage repayments, Sydney is closer to 44% so it will be relative to the geographic location of the impact that is felt.

I would say we will get into stress, without anything else changing such as unemployment or hyperinflation, around the 6% mark which historically is a comparatively low-interest-rate historically speaking as banks asses still at around 7% rates, factoring increases based on the medium historical average interest rate.

There are many other variables to consider than just interest rate.

• This reply was modified 2 years, 11 months ago by  Colin Rice.

Colin Rice | CDR Finance
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 27, 2021 - 4:29 pm

These issues are open to negotiation and if you don’t ask you don’t get.

Remember, in hot markets things like this will put you at the bottom of the list.

Colin Rice | CDR Finance
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 27, 2021 - 4:23 pm

Consider what you like to do, what you are passionate about and work out a way to monetize it.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 27, 2021 - 4:18 pm

The valuer will makes notes in the report and the bank will decline to approve unless you can show funds available to complete the necessary repairs and upgrades. If you get into structural changes then they will likely decline. There are still options available for finance, in this case, you won’t be paying retail rates though.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 27, 2021 - 4:10 pm

Pre royal commission this was a relatively easy fix, now, as @terryw has already stated it will require a full application to assess serviceability under the new repayment schedule. Being self-employed, depending on your scenario can also complicate matters.

• This reply was modified 2 years, 11 months ago by  Colin Rice.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 27, 2021 - 4:06 pm

Perth is currently experiencing both high growth and high yield returns due to this unique time in history with interest rates at an all-time low, especially fixed rates which can provide a level of comfort to those entering the investment property market.

Cash flow positive and capital growth within a capital city is a rare occurrence indeed.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

May 27, 2021 - 4:02 pm

As already said get yourself a reputable investment savvy mortgage broker, hint they have already made themselves known.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]

[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

October 12, 2017 - 5:58 pm

Finance, if required will need to be commercial as well.

Colin Rice | CDR Finance
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

October 12, 2017 - 5:55 pm

Greg Mayer wrote:

I don’t believe that I am asking too much for the property, with the current ad for ‘Offers over $299,000’.

Its normally always the price but as mentioned could have a dud agent as well.

Colin Rice | CDR Finance
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

October 12, 2017 - 5:47 pm

2 major boxes need to be ticked;

1. Security – being at 50% you are sweet there

2. Income – you will need to demonstrate income above and beyond all outgoings including living expenses which will leave you with surplus income that would need to cover the repayments at between 7-8% inmost cases.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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[Colin RiceParticipant@fmsJoin Date: 2011Post Count: 338]

October 9, 2017 - 7:11 pm

Nigel Kibel wrote:

In my view Melbourne has another to 4 years in the current cycle.

Very interesting and if that is the case then you could consider Melbourne over Brisbane for short to medium term growth.

Hopefully can generate some equity that you could then pull to purchase in Brisbane.

• This reply was modified 6 years, 6 months ago by  Colin Rice.

Colin Rice | CDR Finance
http://cdrfinance.com.au/
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Perth Based Mortgage Broker - Investment Property Finance Specialist | E: [email protected]