As Shahin mentioned you can't choose 'A good' valuer as in most cases the selection is random thru the lenders automated valuation system.

Cheers

Yours in Finance 

Matt you are correct you wont qualify for a 3rd party loan.

Unlikely that clintron's parents will hold the property in a Trust name being their PPOR but i guess it is possible.

Cheers

Yours in Finance

CC i admire your enthusiasm as i mentioned earlier but hate to say financing has changed a lot since HT's days.

2013 is not conducive to flipping cheap properties with minimal deposit because of some of the entry, exit and ongoing costs.

Then you have the potential issue that it will be considered as trading income and not CGT so do your…[Read more]

Hi Tom

Always happy to be corrected and agree if in doubt check with the OSR in your State.

Had one recently where a client was buying a multiple dwelling as their first home and renting 3 of the 4 units out.
Reading the legislation i wouldn't haven't thought they would have qualified but the OSR were quite happy and the clients were some $7K…[Read more]

Hi Mick

Personal opinion is that Nundah is a great suburb and an ideal area to consider a property for a SMSF.

I have done a couple of SMSF deals for forum clients who purchased in Buckland & York Street and the returns are steady and rentals in good demand. Certainly had no issues with the lenders we used on such secutities.

What a lot of…[Read more]

Couple of similar building here in Qld Terry and the odd one or two with covenants like no one under the age of 18 allowed to reside.

If you are in your 50's and the Mrs falls pregnant you are forced to move out !!!! (Or should i say the misses is forced to move out).

Times we live in.

Cheers

Yours in Finance

Hi Nick

Welcome to the forum mate and hope you enjoy your time with us.

Always good to see a few more poms on the site to balance out the numbers. (Bournemouth boy here).

Your income and length of employment are not necessarily a problem and the potential joint and severable liability issues when buying with a relative can be overcome with the…[Read more]

I have to say that i find it hard to believe that if your Broker ordered an upfront valuation with Homeside surely some red flags would be flying when the valuation came in that much short he / she carried on to lodge the actual application.

Anyway good to hear that everything settled out ok.

Cheers

Yours in Finance

Had a new forum client ring me this week whose existing lender had crossed his PPOR and IP.

He had now sold his PPOR and the lender undertook a valuation on the IP which was to be their remaining security.

Unfortunately the Banks valuation came in at 45k less than he paid for the property only 14 months earlier.

Issue now arises that the Bank…[Read more]

Despite Tom's words of caution there are still many a lender that lends on Company Title without any interest rate loading.

Did one on Sydney a month or so back with a purchase price of 929K and 85% was obtained fairly easily.

Might not be be the cup of your Big 4 major but thankfully there are many other lenders out there.

Cheers

Yours in…

Hi Steve

Matter of watch this space but don't get too excited quite yet. 

Went to a SMSF seminar earlier in the week ran by my Financial Planning Licensee where there was an ATO representative discussing their overview on SMSF and the increased amount of borrowings they are seeing coming thru.

At the moment their are adopting a watch and see…[Read more]

No hate to say you wont be able to finance the deal unless you are party to the Title so you are going to need to physically purchase the property.

Course there are other considerations in regards to finance, structure etc as you don't want to find you end up paying CGT & GST on the property.

Cheers 

Yours in Finance

No hate to say you wont be able to finance the deal unless you are party to the Title so you are going to need to physically purchase the property.

Course there are other considerations in regards to finance, structure etc as you don't want to find you end up paying CGT & GST on the property.

Cheers 

Yours in Finance

I can think of several regional towns with good growth prospects and cash flow properties without having to invest in a town with such a small population.

You need to consider your financing options will be limited in such areas and especially if LMI is involved.

One day you might want to sell the property so remember that potential purchasers…[Read more]

Have to be honest with a 100K deposit you are far better off sitting down with a Professional and putting in place a structure to enable you to go forward with a spread of investments.

As a Financial Planner if you were a client of mine who had an appetite for 'high risk' i certainly wouldn't let you throw in a 100K to a single property without…[Read more]

Hi Desert Fox

Was down in Newcastle only last week looking at a property in Merewether so i can fully understand why you would want to look to invest in the City.Lovely beaches and the wife was born and bred there.

I have quite a few forum clients in the Hunter who are on good incomes due to the industry based their and when i sit down with them…[Read more]

I must admit it the property is only slightly positively geared when you are putting in 20% deposit then i think i would walking away from the deal.

LMI is an opportunity cost and can certainly enable you to expand your portfolio quicker than saving up a 20% deposit each and every time.

It is also a loan cost and therefore deductible over the…[Read more]

16 i think that is an excellent starting age but remember you need to be 18 before you can legally enter into a Contract.

I purchased my first property and 18 and have never looked back.

Cheers

Yours in Finance

I am assuming your investment monies are tight due to lack of savings or equity so i wont comment futher there.

Personally i wouldn't buy a unit due to the higher holding costs (Unless of course you buy the entire block but that is a different matter) as i can think of several excellent suburbs where you could pay a similar price to a cheaper…[Read more]

As the original post is now nearly 3 years old i wondered where Bozana ended up buying ?

Cheers

Yours in Finance