Dont worry Terry we have explained to KKaur that a Commercial loan could be done in personal names.

We have also been advised that she was unable to get 7 individual contracts or indeed 1 of 4 Units and 1 of 3 Units.

As a consequence we advised her 65% maximum lvr on a block of 7 given the regional location.

Cheers

Yours in FInance

Hi Bec

Assuming you qualify for the Qld Grant you would receive the $15,000 plus a further $25,000 if you buy an off the plan property (Contract dated post 4th June 2020) or buy land and sign a building contract within prior to Dec 31 2020 which comenced within 3 months. If you decide to buy in a qualifying regional area you would qualify for a…[Read more]

Scott, you do sound like you are on the right path.

Feel free to shoot me an email and i can send you an article i did with the API magazine and how i built my property empire.

Some of the strategies may have changed over time but the concept is still the same.

The loan structure going forward is important in order to maximise your…[Read more]

Kkaur, Treated as a Commercial loan so you will be back to 65-70% Max lvr.

Location will be important as if regional will be less than that.

Unlikely they are going to allow split contracts so going to need to be funded inline.

Would need a little more information to give you a more accurate indication as to fees, rate etc.

Cheers

Yours in…

Hi Dale

Sorry to hear about your wifes situation.

Borrowing in your personal name means the loan is Coded so would involve any potential lender to undertake a full servicing to ensure the loan was not unsuitable. Also means the lender needs to hold an Australian Credit License.

A Coded loan requires interest payable monthly in arrears and…[Read more]

Is it an owner occupied property or investment ?

Is the borrowing in your personal name of a Company ?

Cheers

Yours in Finance

Hi Chetnik

I am assuming from the post that you intend to knock down the existing house and then construct 2 new dwellings on the land.

If this is the case the Tax deductibility would normally be based on the sq metre of each dwelling and is likely to be an interest only loan during construction.

As far as structure is concerned we would need a…[Read more]

Yes they sure have.

https://treasury.gov.au/coronavirus/homebuilder?fbclid=IwAR0IpHWk0adxthwdH5xGm_yvrbx5Uv1m2LQ_yXv4bV1H6_N6RNGTvT66SZU

This should get you going.

Cheers

Yours in Finance

Yes they sure have.

https://www.theguardian.com/australia-news/2020/jun/04/who-is-eligible-for-homebuilder-grants-and-how-much-will-they-have-to-spend

This should get you going.

Cheers

Yours in Finance

One of the qualifying criteria is borrowers need to be Australian Citizens.

Cheers

Yours in FInance

Personally as a Licensed Agent i wouldn’t allow my team to take a listing at 1% plus GST as i value their time a lot higher than that.

I have 2 full time sales agents working out of our Noosa office and 5% of the first $18,000 and then 2.5% is standard even on the higher priced properties ($10M upwards).

If you find someone who is prepared to…[Read more]

Just be aware Vendor Finance is now illegal in several States in Australia.

Cheers

Yours in Finance

What you mean like propertyinvesting.com ?

Cheers

Yours in Finance

Rent to Buy and Vendor Finance now banned in several States in Australia so ensure you are operatng legally.

Cheers

Yours in Finance

As a result of recent RBA interest rate falls we have now dropped the interest rate on this product to 3.85% plus a 2% or 2.5% Management Fee (dependant on whether the LVR is over 80% or not) and hit our 100th settlement.

Certainly the response from borrowers, brokers and other intermediaries has been excellent.

Here’s to a good start in 2020…[Read more]

Given Vendor Finance is now illegal in 3 States of Australia I doubt the course has much value these days.

Cheers

Yours in Finance

We have been offering our 90% NO LMI SMSF product for the last 3 months and setted over 20 deals so far with another dozen + in the pipeline. At the monment we only offer it thru Finsure Brokers one of the Aggregators we are on the panel of. It is also only offered in Qld, NSW and ACT.

They also have our No Deposit investment loan (Qld brokers…[Read more]

Terry you are correct as we all now that the slightest hiccup means LMI delcine the deal as they dont need an excuse

We have been piloting both the SMSF product & No deposit for investors for the last 3 months and certainly picking up momentum.

Cheers

Yours in Finance