Hi Claire

Good to hear the information is of interest.

If you are interested i wrote a SMSF Ebook last year and will happily send you a copy.
Just need a email address as it is in PDF.

Cheers

Yours in Finance

Yes course hindsight is a wonderful thing.

I think we were suprised we managed to even register the Company name in the first place.

Course with the FHOG dying down doesnt have the same affect but still a cool name.

Cheers

Yours in Finance

Appreciate that Terry.

Yes there are 3 or 4 lenders that will go upto 80% but it is not just a one lender fits everyone rule given the complexities of SMSF lending and also the way in which lenders serviceability criteria works.

It is certainly not the same as a standard housing loan.

Other issue is of course location.

Metro or certain…[Read more]

All comes down to what you value your own time at..

If you work fully time and earn $20 / hour and a painter charges you $30/ hour then take a week off in crease your income.
If you earn $100 / hour then it is simply not financial sense.

Personally i would never do work on any of my properties but then some people love getting…[Read more]

Hi booty

No you are not dumb at all.
I am a fellow pom and when i arrived in the mid 90's had no idea either.

As has been mentioned it tends to be the build in part of the verandah that can be converted to another bedroom etc.

In saying this i thought a handle in forum speak was a thing on the end of a broom.

Cheers

Yours in Finance

A settled default makes no difference whatsoever to a major lender especially at that size.

Hate to say you are going to end up paying over the odds for the loan for the next couple of years.

Cheers

Yours in Finance

Flower sorry but i have to say i believe you are doing it the wrong way round.

You would be better off using your cash reserves up your sleeve and try and gear on each new IP.

Without knowing all of the details it is difficult to comment as to what documents you would need in order to obtain a finance approval but limited documents are still…[Read more]

Hi p@tty

Yes Brokers do this all day long and often we work with a client 6 months before they are read to purchase.

Have to disagree with Kong on this one as the online calculators are useless and really have no bearing or understanding  of some of the finer points of Credit.

Sure they may give you a broad brush stroke but nothing…[Read more]

For ever person who says it can't be done for whatever reason there are also others of us who don't listen and just get on with the business of making a very tidy living in the acqusition and development of real estate.

This then gives the opportunity to assist and educate others follow the same path.

Always going to get differing views and…[Read more]

Terry for the first couple of years it ranked higher than the Govt (FHOG) Grant on Google.

We used to field calls asking if we were part of the Qld State Govt.

Cheers

Yours in Finance

Yes guys probably the same Planner that who was still recommending his clients invest in Westpoint.

I had Planners here in Brisbane tell me i was stupid not putting my clients into Macadamia farms etc.

Don't worry whether it was good or bad the commission was 30% and that was all they interested in.

Thought i was very conservative for promoting…[Read more]

Does he want to buy the front house and live in it or be a potential party to the JV ?

Terry has given you some excellent advice in relation to this so even though he is based in Sydney why don't you engage him to act for you in setting up the structure.

Cheers

Yours in Finance

One man band or multi agency they are still required to be licensed and be aware of the current legislation.

I run a 1 man band mortgage brokerage and financial planning firm and would not expect to less licensed or qualified to a firm with 20 partners.

A phone call to the right Govt Agency could clarify the situation and maybe put your mind at…[Read more]

Amazing what advice some so called experts provide.

Met up with a couple of forum clients earlier today in Melbourne and amazed what advice their existing Financial Planner has given them on what they can and cannot do with their SMSF.

Nothing amazes me in the current climate.

In saying this dying is a radical way of getting out of getting out…[Read more]

Hi zorro

Firstly welcome to the forum and i hope you enjoy your time with us.

Yes an 80% lend on a residential property is available although a block of units (depending on the number in the block) maybe considered a commercial lend.

There are other issues you also to consider if you are buying a block and have any intentions of Strata Titling…[Read more]

As Terry mentioned Fixed Unit Trust but remember that is far reached to a HDT.

Wont get 95% lvr easily in a HDT without paying for it.

Cheers

Yours in Finance 

Only one of the Big 4 said no i am surprised.

I can't think of any of the majors (with maybe 1 exception) who would even understand how to such a deal let alone approve it.

With that amount of equity there is many ways to get a deal over the line on servicing.

Cheers

Yours in Finance

Would have thought you might have added Toowoomba in the mix there as well.

Was out the a few weeks back and some very interesting activity there.

Hard to believe it is Australia's largest inland town with the exception of Canberra.

Cheers

Yours in Finance

Have you also considered your dad's possible CGT and possible other issues in regards to gifting you the property.

The ATO wont wait until you eventually pay him back.

Cheers

Yours in Finance

I agree with Freckle i am unsure why you wouldn't use the valuation to your advantedge and tell them you are terminating unless the Contract price is re-negotiated in your favour.

Never sure why you would you would pay 20K over the valuation as that will shoot you in the foot in the future should you ever want to realise equity in the…[Read more]