Hi Gold

First welcome to both the forum and Oz and i hope you enjoy your time with us.

Let me first clarify one of you questions and that is:

1) No buying in Trust or a Company structure will not ease the issues with finance as you as a Director of the Company will be a Guarantor and will need to disclose this Guarantee in future…[Read more]

I would say as long as the cost was triggered because of the sub loan application and those funds were for investment the answer would be Yes it would be deductible.

Remember of course LMI as a loan cost is deductible over 5 Years or the term of the loan which is ever is shorter.

Cheers

Yours in Finance

Hi Young

Welcome to the forum and I hope your time with us.

Without the full details of the application it is difficult to say but i must admit if it is a standard Telco default i have a few lenders that certainly wouldn't have a problem with the deal.

Course i am assuming you are not buying in the middle of no-where and aren't looking for…[Read more]

Heh Joe maybe i should put her in touch with my wife.

It is my birthday tomorrow and i am concerned my wife has bought up all available supplies of dark hair tint from the local store.

I tell her going grey is distinquished but for some reason she doesn't agree.

Cheers

Yours in Finance

Terry, probably about the same we got offered to promote Mango Trees or Timber plantations in 2007-2009.

I know many a local FP who were running year end seminars and raking in 30% com and they thought I was crazy when we told them i was not getting involved.

You have too ask yourself if you start with 100K invested and the Financial Planner…[Read more]

The model is fairly straight forward and something we are starting to do in both Melbourne & Brisbane.

Normally done with a standard Unit Trust structure although as Michael has mentioned you are unable to fund the initial deposit on the property itself and have to use collateral security or cash.

The on completion finance is based on the sale…[Read more]

Doug if the property is advertised on a public website it is old stock or overpriced.

You are better off in engaging a buyers agent who specialises in such properties.

We get asked all the time by members to source a property for them.

No such thing as a free lunch as these properties take time to negotiate.

Cheers

Yours in Finance

I saw the photo in the draft and that put me off buying the mag on principle.

That was my pic by the way and not Jac's.

I had 2 people ring me this afternoon and ask me how do you do what you do and how can i get on board.

As Jac mentioned you do it by knowing the area inside out and if that means driving around for suburb hour after hour.

You…[Read more]

So true Paul and it is where most clients come unstuck.

Had a forum member from Sydney ring me yesterday who had sold her IP and her Bank had told her to pay back the net sale proceeds straight into her PPOR loan.

They told her when she needed the funds on the next IP just go ahead and redraw it………

On a $300K redraw that has just lost you…[Read more]

Hi Neil

Again don't want to put a dampner on the idea but i can think of a lender or two who would have a problem with the multiple let aspect of your idea.

Similar comparison would be the same as those lenders who want to consent to any single lease over 12 months.
Hard to believe but it all boils down to resale in the event of…[Read more]

My name mentioned…

Yeh i have been around here for a week or two or was that in fact 12 years lol.

Cheers

Yours in Finance

As Terry mentioned you wont get Title to the property until the balance is paid so not as easy to control the deal.

Get your Broker to negotiate a second mortgage carry back.

Lot more flexibility.

Cheers

Yours in Finance

Ah Jamie is that the thing that sits on the right hand corner of my desk and rings lol

Yes we are back.

Anyone need any firewood? Got a tree down on my block that would keep you warm down South for many a Winter.
That's a job for the next few weekends.

Cheers

Yours in Finance

Paul case of use it and lose it.

Structured correctly you can have your cake and eat it.

Cheers

Yours in Finance

Wow BB went thru a Broker and were still badly advised.

Unless it is to late i would be seeing if you can't get it fixed up immediately so at least you are on the right track going forward.

There aren't to many reasons i can think of why you would cross collateralise the securities.
I have written an article on the correct way to structure the…[Read more]

Rick who is the current loan with and was it done thru a Broker direct.

If you give us some more info we can advise you of the particulars lenders 'cash out' and valuation policy.

Cheers

Yours in Finance

Sorry both been off air with the floods and cyclones we have had in Brissie over the last 5 days.

Will email them off in the morning.

Cheers

Yours in Finance

Miller based on the fact you cant squeeze a higher valuation out of IP 3 with another lender then way to go would be:

1) Refinance IP 3 to a 90% of the valuation. $150K x 90% = $135K less existing loan of $90,000 = $45,000.

2) Purchase of IP 4. Take 45K raised from IP3 Refinance less stamp duty and other acqusition costs and use balance of funds…[Read more]

Being a Builder can be a disadvantedge as far as financing is concerned but it also opens up more avenues.

I wouldn't have built my property portfolio so quickly if my partner hadn't been a Builder but then i guess he didn't have the financing capabilities or equity to grow without me so a perfect arrangement for the time we worked…[Read more]

As Nigel has mentioned standard finance is available in FL due to the influx of UK buyers.

For outside FL you need to be having minimum loan of $100K

Again i am unsure why you buy something out in the depths of nowhere when you could buy a quality investment in FL.

Why not talk to Nigel and see what he can suggest.

He has vast experience in…[Read more]