Hi Alex

As Jamie said welcome to the forum and congrats on taking the plunge into your first property.

Look hate to say buying your first property and getting the structure wrong from day 1 could be an expensive mistake you just don't want to make.

What not save yourself the hassle and time and drop Jamie a line and get him to sort the loan out…[Read more]

Heh Terry i still use pen and paper as well.

Apparantely they have these new things called mobile phones now.

Alexander Bell and me stick together and could do without our land lines ………..

Course i have embrassed the email world and next going to tackle Twitter lol

Cheers

Yours in Finance

Aussie K you are bang on and when i see property spruikers selling their wares to uneducated miners (not minors) on exceptionally high salaries but limited experience or understanding it makes you cringe.

Cooper Review a year or so ago made reference to the Govt on just that and whilst i understand the ATO are happy with the level of borrowing at…[Read more]

Hi Maree

No hate to say no lender will take your valuation.

All lenders use a panel of valuers (The odd exception being those lenders that accept any valuer subject to the valuation being in a format they accept).

With many lenders they allow us as the broker to order the valuation upfront prior to submitting an application and we can release a…[Read more]

Hi red

Can you explain why it is "not as straight forward as people would like to think especially on the residential side"?

I have just settled my 41st SMSF deal and never had a problem as long as the client deals with an Accountant who has some idea of what he is doing (And as Jack mentioned you would be surprised how many do not have a…[Read more]

Terry beat me to it.

Spousal Transfer is an option. Had a loan approved today for a forum client in the same boat.
Often takes a bit of number crunching but can be very worthwhile.

Cheers

Yours in Finance

Yes i agree i second Jamie as a decent broker and a good lad too and that's often just as important.

Cheers

Yours in Finance

Good if i am still here at aged 100 i will have been a PI.com member for nearly 62 years.

My typing must be a bit slower and i might dribble a little more on the keyboard but looking forward to it.

Cheers

Yours in Finance

I had the same problem using IE8 but actually JacM who is a puter wizz suggested Firefox and i must say it is a lot quicker.

Cheers

Yours in Finance

Hi Harrison

I have to echo Terry's comment and would strongly suggest you make sure you set about ensuring your existing loans are structured correctly before you venture into your next project especially if it some form of development.

I can think of many a lender that will love to swallow up the equity in your PPOR at the expense of a…[Read more]

PakGirl

You only require 2 members where the Trustee is not a Corporation.

Sole Director Trustee's are fine.

Cheers

Yours in Finance

Hi Investor

Yes it will be in the Letter of Offer under security.

Your Banker may not understand how to do the deal with C/C.

Cheers

Yours in Finance

Hi Rob

Sure happy to send you a copy.
Would you like to shoot me an email and i can respond to you with the PDF attachement.

Cheers

Yours in Finance

Hi Pak Girl

Great maiden post advertising your services…..thanks.
You can actually go upto 80% on a SMSF loan and start the fund with anything over $60K.

You don't need an Accountant to the Financials however it is wise given that the fund needs to be Audited.

If Ford Fairline is looking to buy in her Super i can email her a copy of my Ebook…[Read more]

You have it in one Jamie.

Just to add fuel to the fire the Bank have also told him that as he has recently sold a property when it comes to settlement he can have all of the net loan proceeds and the 120% loan he has on the 2 IP's can remain.

Me though they would revalue and reduce the lvr accordingly.

How ignorant.

Course come the next rate…[Read more]

As Joe mentions you will be surprised how many Bankers / Brokers actually think it is a good thing.

Also what lenders tell a client is amazing.

Have a forum client who we started to untangle his CBA loans in Feb of this year and eventually we managed to get them sorted, loan approved and mortgage documents signed.

Settlement was next week and…[Read more]

Hi stu

Yes you will be surprised how few lenders do offer SMSF loans and then how many of them are competitively priced.

A combination of SMSF and NRAS makes an interesting mix but yes can be done and i have done a few of them now.
SMSF are like shelling peas when you get to know the legislation and the lenders requirements and quirks you do…[Read more]

Remember whilst borrowing > 80% is available on multiple titles when you knock the property down you will only be able to borrow on the land value so need to make sure you have cash up your sleeve to reduce the loan if necessary.

Cheers

Yours in Finance

Joel regretfully you cannot live in the property owned by your SMSF whether you are under or over 65 and in Pension phase.

Cheers

Yours in Finance

The other concern i would have is they want the business whilst it is quiet and they have funds to lend but when times get touch or their is another squeeze on credit i can see them running away again like they did in 07/08.

I had clients who were told we can't settle your loan next week as we have run out of funds so could we do it next…[Read more]