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picja1

  • picja1 replied to the topic Advert hit rate? in the forum Creative Investing 15 years ago

    Just checking out the updated site. Yes it’s been a while.

  • Sorry, borrowing power.

    Assuming the $55k is net and not gross (if it is gross borrowing power will be less)
    and your monthly repayments are $600( if they are higher, will lower borrowing power).

    The approx maximum, with these figures, would be $360000.

    These figures have only been used through one lender, other lenders will differ.

  • When suppling debts for borrowing power, only mthly repayments needed for current loans and limits of credit cards.

    In regards to FHOG and daughter etc.

    You can’t use your income, unless you go with the CBA’s new loan, however need equity in property.

    Besides that No Go.

  • picja1 replied to the topic A FLIP in the forum General Property 15 years, 2 months ago

    I’m not to sure the difference between the states, however I know in Qld a real estate agent was sent to jail for doing a flip without paying stamp duty.

    One thing to consider in this example; he was an agent, could have come under different laws etc.

    Another thing to consider; you didn’t pay stamp duty, this time.
    I’d check with another…[Read more]

  • Can you say who the developers are? Or at least what state?

    As I’m just about to purchase some units and land Off the Plan and don’t want to be caught by the same Co.

    Thanks

  • If you have a good income, you may be able to receive your own home loan for the purchase, and use the vendors finance for the deposit + costs. Or if the vendor is willing to play ball, he/she may do a gift back, saving you what ever amount he gifts to you.

    If niether of these are options there are 100% purchase home loans, also private funds…[Read more]

  • picja1 replied to the topic Second Mortgage in the forum Finance 15 years, 4 months ago

    why do not you save some money and use a gift from the vendor?

    [email protected]

  • picja1 replied to the topic Super for deposits in the forum Finance 15 years, 5 months ago

    Stuart; I’m authorised.

  • picja1 replied to the topic Super for deposits in the forum Finance 15 years, 5 months ago

    It does definately not come from your own super fund. That is highly illegal.
    The funds come from the profit of the total super fund. For example; how much profit does MLC make from their superfund? I know most people don’t see the return in their own super fund, with all their fees etc. However, I’m sure these companies make a profit. Well from…[Read more]

  • picja1 replied to the topic Super for deposits in the forum Finance 15 years, 5 months ago

    Forget Unit trusts etc. this is the best way for anybody to do it.(probably the only way)

    How it works is easy (using super for deposits etc.)

    You need to roll your super over to the Super fund company, with this product.For rolling over your super they will lend you, your required deposit amount. It’s that simple, you just need to contact me…[Read more]

  • It’s quite easy to use your super for deposits and property etc..

    Takes approx 2 days – 14 days to access the funds, depending on where your super is now.

    You can access most of the fund, need to leave some for yearly audits/fees.

    Costs $500 application fee

    [email protected]

  • There is a lender that will lend up to 100% on commercial deals, especially in a scenario like this where it would be a joint venture, however it does depend on the size of the deal, they would only look at a min of $1-2m, then it would have to be good.

    [email protected]

  • I think you made a mistake, Terryw.

    “If you are Bankrupt or in a Part 9 or 10, you are given the worst rating.”

    I don’t know of any lender that lends to people that are currently bankrupt?

    I think what Terryw meant to say was; If you are discharged bankrupt or in part 9 or 10 … etc..

    This means, yes, 1 day out of bankruptcy, you can recieve…[Read more]

  • picja1 replied to the topic no deposit in the forum General Property 15 years, 5 months ago

    Just take it to your solicitor or conveyencor, they will disburse funds correctly. Just make sure you make it clear to them, that, this is a highly important part of the transaction. Keep reminding them.

    [email protected]

  • It would be a second mortgage and registered as one. Terms would be decided between yourself and the vendor.

    Some terms would be at 7 -10% p/a depending on the vendor.

    For the vendor, this beats putting it in the bank at 4% or what ever may be the case.

    The second mortgage differ’s from vendor finance as the property would be in your name…[Read more]

  • picja1 replied to the topic no deposit in the forum General Property 15 years, 5 months ago

    There are a couple of ways to do this.

    1. Listing price of property is $100k, you negotiate with vendor to buy at $80k. $20k equity to be used.

    2. 2nd mortgage from vendor

    3. As Mel said Off the Plan

    4. As Mel said Long settlement

    5. Use your super.

    Also, you can get away with no deposit to agents. Generally, when you are using these…[Read more]

  • Finance will not be an issue, depending on your deposit, location of property,etc.

    There are lenders who will lend to you while you are currently in a Part 9 or Part 10.

    Max LVR 85%, if providing full financials, 75% LVR if self certifing.

    Contact me any time, for full assesment.

    [email protected]

  • Bruce
    Yes I am a broker. In the same area as you, Sunshine Coast.

    I am with an national comapany and there is only few differences within states. Mainly, difference of lenders for each state. Generally, no difference of rates, with the exception of some. For example, Adeliade Bank in QLd is sent through to many different mortgage managers who set…[Read more]

  • To clarify things for you.

    Lo – Doc loans

    The main Lo- Doc’s through A lenders require min 2 yrs self-employed or investor, however, you do not need to provide ABN, so people can get away with less. This is what firstbruce is suggesting.

    However, there are lenders who provide finance to self-employed and they only have to be applying for an…[Read more]

  • With your car default, depending on the lender, you may not have to pay this out. Normally, lenders would require all defaults paid out, prior to or at settlement(best to payout before settlement as lender, will lower interst rate nad increase LVR). In this instance ( you are disbuting the default), it may not be a requirement to pay this default,…[Read more]

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picja1

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