Yes couple of things with Citibank and that is the LMI waiver is post code restrictive so will depend on where you are purchasing.

Secondly with settlement in 3 weeks you would be lucky for Citibank to have even looked at the deal by then let alone approved it and had the loan documents ready.

Thirdly they have one of the worst serviceability…[Read more]

Hi doublejy

Sounds to me like you are getting a wee confused.

Loan structuring is not easy and expensive when you get it wrong.

Why not shoot Jamie a quick email and get him to work the numbers for you.

Having a good Broker on side can not only save you $ 000 will also give you a sounding board for your investment journey
going forward.

Won't…[Read more]

Tom is a brave man.

Anz docs come from Mumbai and to release the security set up and do them as standalone deals would mean they have to be re-assessed in full.

You might also find the type of valuation they have done needs to be amended.

Even if Anz could understand what you needed the chances of getting it over the line is slim at…[Read more]

Yes we have 6 appointed introducers here in Qld who we take business from and pay them all the same commission rate.

Be surprised how many agents want to get on board when times are quiet or they have the buyer but we wont take the deal from them.

Cheers

Yours in Finance

Hi again qldminer

Are you sure those figures are correct as a 20K after Tax loss seems mamoth.

I will assume you are claiming everything you can claim. Building must be an old building (pre 87 at least) and can only assume you have a fixed rate which has not fallen.

Also remember if you purchased at the peak of the market you might find that…[Read more]

No worries Mark that's what the forum is all about, sharing and learning from other.

Cheers

Yours in Finance

Echo what the boys have said already.

Interest only with 100% offset gives you the choice to change your mind.

Not to say that you will but never is a big word.

Seen so many clients come unstuck when plans and circumstances.

Cheers

Yours in Finance

Hi Smidy

Get you wallet out if you go that route.

Sorry can't help you on the Sunshine Coast.

Had it been the Gold Coast now that would have been different.

Had the same Accountant for the last 15 years and i have one or two IP's and he never seems to struggle with those.

Cheers

Yours in Finance

No unfortunately not.

You can only roll it over to a complying fund in the Country you are moving to.

Cheers

Yours in Finance

Don't dismiss Nigel's Commercial opportunities as he has a wealth of knowledge in the area and has lived and worked in the USA as a Licensed Real Estate.

I have personally seen a couple of the deals he is currently working on and definately think for a small mum and dad investor that a Unit Trust arrangement like Nigel has set up here in…[Read more]

Ashley Yes you bettter.

I hear the forum is like the US PGA and that only the first 125 make the cut. lol.

Cheers

Yours in Finance

A couple of other points worth thinking about prior to proceeding to Contract:

1) Lenders do not like boarding houses at the best of times and it treated as a specialised security. Definately be a Commercial lend but you might even find slightly more restrictive that that.

2) Ever since 'Childers' insurance companies have ran a mile from such…[Read more]

Have a look at your purchase contract and Sec 32 as it will detail what area is made up of your Title.

I would also ask the Solicitor / Conveyancer who acted for you in the purchase as they would be aware of the position.

Cheers

Yours in Finance

As has been mentioned depending on the actual size of the property you might be lucky to get 80% lvr

You have to bear in mind one day you might wish to sell it and your potential buyer may not have 20% of your asking price.

Cheers

Yours in Finance

Be surprised how many Brokers / Bankers have no idea how to structure an investment loan and end up costing an investor $$$$.

Cheers

Yours in Finance

Hi Allister

Every property i own is in Brisbane or SE Qld so i guess i am slightly biased.

In my opinion many parts of Brisbane didn't really fall as much as others post 2007 and certainly we are starting to see the right property become sought after with investors / owner occupiers.

Valuations are certainly stacking up and in fact a couple of…[Read more]

That's what the forum is all about sharing information with other interested property investors.

Hope you stay around to enjoy all the forum has to offer.

Cheers

Yours in Finance

Also forgot to say not all lenders insure their loans and the odd one will waive their LMI premium to 85% lvr.

Cheers

Yours in Finance

Hi prospector

As has been mentioned the LMI cannot carried forward to Anz however had you structured it properly you would have probably saved yourself a considerably amount in premiums.

Of course it was not in Anz Banks interest to have advised you of this as they get the best of all worlds, refinance, cross collateralised securities, LMI on…[Read more]

You will probably have to roll it over to a 401K complying fund in the US or similar IRA approved fund.

Cheers

Yours in Finance