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  • joshadelsa replied to the topic 90 LVR Loans in the forum Finance 15 years, 12 months ago

    Hey Novo,

    There are quite a few lenders out there that offer 90% Lodoc even 95% however they usually incur higher interest rate. As v8ghia mentioned you will need a 2 year ABN for anything this high though.

    I’ve did a no money down deal a few months ago and am just about to try and do one for myself cause I’ve ran out of…[Read more]

  • Hey TMR,

    That sounds like a great opportunity.
    Most banks/lenders are very cautious with student accomodation as it resembles more of a commercial deal then a residential as it is basically a mini hotel. If you can service it on market rental you could use this rental however most lenders won’t accept increased rental income from student…[Read more]

  • hehe yeah I didnt think the price was very good (per sqaure metre) either but he was keen on it, was returning pretty good rental returns as well.

    Not kinda security I’d do but there are a lot of strategies out there that investors use I guess.

  • Finding finance on one of these units can be quite hard at times.

    Had a client come to me with one in Brissy CBD for $100,000 however it was only 20sqm which most lenders only allow units or aparments over ~44sqm…

    We managed to find a lender for it however it was a very low LVR which meant he had to fork out a pretty hefty deposit. Securities…[Read more]

  • I have a lender on my panel that will do 6 unit on one title. most consider it commercial.

    Investor Finance
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  • What if you refinanced your first home to 95% and reduce your loan against burnie home and pay down some personal debt and then sell burnie property.

    Refinance Launceston:
    V: $160,000
    M: $152,000 (95%)
    refinanced amount: $90,000
    pay down Burnie: $20,000
    Pay down Personal debt: $27,000
    remaining unlocked funds for future inv: $42,000 +proceed from…[Read more]

  • Daniels right.

    a few months of solid educating yourself and saving could save yourself from making some crucial mistakes and could save you a lot of money and headaches.


    Investor Finance
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  • joshadelsa replied to the topic Submitting Offers in the forum Help Needed! 16 years ago

    I think in south australia there’s a cooling off period after offer is accepted in which you can pull out if you like before contract is signed. I just had 2 offers accepted however didn’t take too much notice as I was definately going to buy them, unless building or pest inspection came in with devastating results.

    Depends on what…[Read more]

  • hey Ivan,

    I’m in a similar circumstance (early 20s and same income) and have just signed contracts on 2 properties. Everyone’s strategy is different, but what I’ve done is bought 2 cheap 3 bedroom properties,1 was $110,000 and 1 was $102,000.

    Both have good rentals ($150p/week each) and tennanted till mid next year.

    Both properties have…[Read more]

  • joshadelsa replied to the topic Valuation in the forum Finance 16 years ago

    thats rite, if you find out who is on your banks panel of valuers some of the brokers on here may be able to tell you about some background on particular valuers and their experiences.

    another thing to mention is there are a few different types of valuations …
    Desktop or EVR (electronic valuation report?)
    and Physical

    If your property…[Read more]

  • Thanks CATA ,

    wasnt aware of the law changes.

    Investor Finance
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  • joshadelsa replied to the topic Valuation in the forum Finance 16 years ago

    The easiest way is to increase the limit on your existing LOC through your current lender. They will however have to revalue the property depending on the valuer they use depends on how conservative the valuation will be. When I got mine done I did a bit of research and had supporting evidence to support the value I believed it was worth and…[Read more]

  • WOW thats well worth while.

    I’m a subscriber as well to baycorp and I thought it was just handy know when my CRAA check was getting done through the loan processing.

    Good work hope all works out fine.


    Investor Finance
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  • joshadelsa replied to the topic PAYE change with work in the forum Finance 16 years ago


    I think you can get a variation authorised which allows your payroll to adjust your tax however I think you need to get an accountant to calculate tax deductions such as depreciation, interest etc and then submit the variation. But yeah Terryw is rite you can get into a bit of trouble if your calculations are wrong, thats why accountant…[Read more]

  • joshadelsa replied to the topic LO DOC/NO DOC in the forum Finance 16 years ago

    Thats the one Richard. [biggrin]

    yeah your rite APerry they have been round for awhile … just had a new product that I was refering on. thank mate

    Investor Finance
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  • To get a trust setup isn’t a difficult process just need to find one a solictor that knows what they’re doing. Most Trust take at least 3 weeks for most solicitors but can take up to 8 depending on how busy they are at the time. Once the solicitor has setup the trust, it then needs to be stamped by the state revenue office. Lenders won’t even look…[Read more]

  • joshadelsa replied to the topic LO DOC/NO DOC in the forum Finance 16 years ago

    I agree with all the guys above however just released recently is a lender that will go 95% LODOC!!! its good however you do get stung on the rate which is 9.24%. It is slightly less if you have 2 borrowers and one is full doc.

    Its a good product however high rate and high LMI.

    something to think about.


    Investor…[Read more]

  • Any transfer of ownership on title incurs stamp duty.

    most of my clients purchase properties in trust with a corporate trustee and themselves as directors of that company for asset protection and tax minimalisation strategies.

    all the best


    Investor Finance
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  • Im pretty sure you wouldn’t be able to either however to be absolutely certain maybe a quick call to the state revenue office will confirm the answer to that question.

    All the best


    Investor Finance
    [email protected]

  • Happy Bday mate,

    I’m only mid 20s but wish I could know what I know now when I was 18.

    good luck

    Investor Finance
    [email protected]

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