Hi Neil

Yes welcome to the forum and hope you your time with us.

Do you want to throw the bone out a little more and tell us where they are based and then might get some further feedback.

Cheers

Yours in Finance

Hi Neil

Yes welcome to the forum and hope you your time with us.

Do you want to throw the bone out a little more and tell us where they are based and then might get some further feedback.

Cheers

Yours in Finance

Bought a PPOR house 5 bedroom on the water in Palm Beach in 1996 for $296K.

Some 5 years later it was worth $1.2M.

In saying this the GC in my opinion is a complete basket case.

There are good parts and there are parts i wouldn't buy if they were giving the Titles away in cornflakes packets.

Agree with Andrew some good bargains to be had with…[Read more]

I started doing Deposit Finance in 1996 and it was the foundation stone of our Vendor Finance business (FHOG Pty Ltd).

Still very much alive and kicking some 17 years later.

As long as the lvr is less than 90% you will get around the genuine savings problem with a few lenders / mortgage insurers although 1 of the insurers will allow a 5% gifted…[Read more]

As i assuming you are not contesting the fact that it was wrongly registered ?

Had one removed for a forum client this week although the account was sent to a previous address.

Can't think of any good excuse off the top of my head but i guess there are options.

Also assume you haven't considered not being a party to the loan or Title and having…[Read more]

LC I have to agree with JacM your current Financial Adviser should not only be sacked but hung drawn and quartered at the same time.

Without appearing crude it sounds like a bit of ass about face solution although without knowing exactly your own personal numbers it is difficult to give you exact information.

What you need to decide is not only…[Read more]

As long as the Fund is not seen as operating as a business there is no issue in the member making an non deductible contribution and subdividing the property.

I have done similar inside my SMSF (without the need of an non deductible contribution).

Also have a few properties i have sold on Vendor Finance increasing the return.

Cheers

Yours in Finance

There is no issue in purchasing a property as Tenants in Common with your SMSF however neither party could use the asset as a security for a loan.

Cheers

Yours in Finance

Hi BM 

Without knowing all the facts and figures i would be looking at an equity loan or similar to enable you to finance all the items you do not want included in the Fixed price contract which you can save money on my outsourcing or buying yourself i.e blinds, landscaping, fencing etc.

That way you can get the Builder to quote for just what…[Read more]

Vin, Max hasn't got any as he intends to build the house as an owner builder.

May look at contracting later in the peace.

Cheers

Yours in Finance

Beauty thanks Terry i am not sure the same applies in Qld.

Always good to be forever learning.

Cheers

Yours in Finance

As Terry suggested i would be seeking the opinion of a Solicitor (Terry is one by the way but too modest to tell promote his services) as sounds like a case of imcompetance.

Cheers

Yours in Finance

Ok thanks Terry see we all live and learn.

I was aware a person under the age of 18 couldn't enter into a mortgage agreement but wasn't aware that could take Title of the property.

I was aware they could in certain circumstances enter a Contract but didnt realise that included the purchase of land etc.

Cheers

Yours in Finance

Investors and home buyers alike often have short term memories

When i arrived in Oz in 1993 variable rates with certain lenders were up there at 18% and coming from the UK where housing rates in the UK peaked at 13.25%.

I thought all of my Xmas's had arrived in 1 go and with the GBP at 2.42 / AUS bought half of Brisbane.

Hindsight is a…[Read more]

Just be careful with your choice of lenders as you will be amazed at some of the lending nuances.

One lender i can think of will only do a construction loan if the plans specs etc are given to them at the same time with the land application (of course they don't tell you that and will do vacant land loans) and another major lender will do a…[Read more]

If the land is unencumbered then your options are even greater.

Cheers

Yours in Finance

Hi Dan

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

I am assuming you are referring to the construction of a duplex or multi unit dwelling.

Certainly such strategy is doable however without further information it is difficult to comment on the minimum deposit requirements.

I am over in Perth in early April and had my…[Read more]

Hi Wood

Won't comment on the individual suburbs as I am a Qlder thru and thru (although i am coming to Melbourne for a week early in March) however you need to remember that the key principal for any Trustee of a SMSF is to ensure that your investment choice adheres to the legislation and that is to provide retirement benefits to the…[Read more]

Good point wilko i am unsure also.

Cheers

Yours in Finance

Good point Nigel.

Every property you purchase as an investor / owner occupier you need to remember one day you may want to sell it and need to ensure that potential buyers can finance it.

No point buying a property where you might need 35% deposit (which of course you may have) when future buyers may not and this could delay your sale…[Read more]