Hate to say neither of which giving him any legal qualification to provide you with ANY credit advice.

Cheers

Yours in Finance

Did someone mention Credit Card and holidays.

I think my wife has just maxed out one of my CC here in Whistler, Canada so thankfully we are coming home Sunday night.

As the boys said above just because you believe you have purchased below market value convincing the lenders valuer is a different matter. Also many lenders wont do a full valuation…[Read more]

Agree with Jamie unless your Accountant is Licensed he is unable to provide you with any credit advice.

Obtaining that sort if passive is certainly possible but will take time (Took us 8 years to get a bit more than that but times have changed) and structuring your finances correctly from day 1 is imperative.

Must admit with only 160k available…[Read more]

Hi anand

Yes one or two.

Cheers

Yours in Finance

Am i missing something here.

If it is a standard Real Estate Contract i believe you would get 80% of the purchase price.

Cheers

Yours in Finance

Very difficult to go out on a limb without any real information but i am going to say there might be a couple of ways in getting an 80% lend.

Cheers

Yours in Finance

Hi Marky
At the request of forum members i am doing a number of investor nights in both Sydney, Melbourne and a few regional areas where i will run thru how i built up my portfolio and then looking at how i can help individual investor structure their portfolios to meet their own investment objectives.

Let me know if you like me to add you to…[Read more]

No not necessary to set up a new Trust for each IP and whilst there is no maximum number you can have in any 1 Trust i try and make each of our 5 Trust have equal value of asset.

Some lenders will not want to cover Corporate Trustees in their Pro packages or want to discount their applic fees or interest rate but on the other hand there are a few…[Read more]

Sure just sent.CheersYours in Finance

Hi Kija
Hate to say your Accountant will not be qualified to assess a Strata Report.

He might be able to churn a few figures make some right noises and generally pass comment but you would probably better having your Solicitor or even a Quantity Surveyor review the report and make some suggestions on renegotiating the price to cater for…[Read more]

Senajav assuming we could get 95% lvr then you would still need to come up with 5% deposit us your acquisition costs and Stamp Duty alone is going to take a fair share.

Would need further information to properly crunch the numbers for you.

Cheers

Yours in Finance

Exactly my thoughts and hate to say the proof of the pudding is in the eating and i am seeing it happen every day of the week.There are a few products that offer an unsecured loan at around 15% with no CRAA which certainly helps when it comes to credit scoring on the main loan.I would run a mile at such a deal on an off the plan basis.CheersYours…[Read more]

How many years are you looking to fix ?What is the lvr and what is the loan size ?Do you want any particular features with the new loan ?Are you happy to take 50% variable and 50% fixed.With this information certainly going to get a better answer.CheersYours in Finance

zehra rather just refinance for a lower rate i think i would be asking what you intend to do in the future with the property as locking in the rate can reduce your options.Many a forum client has come to us having wanting one thing and then weeks later changed plans mid stream and decided on anoother course of action. I think you need to be both…[Read more]

Hi MarkAs Jamie mentioned if you are merely chasing the lowest rate then good luck becuase next week it willl change again and you can go thru the same process. When your Bank manager tells you that he is offering you the best loan out there ask him will he be your Bank Manager for the term of the loan or will he take promotion and ditch your acc…[Read more]

Hi SenajavI will let someone like Ashley more qualified than me to comment on the mechanics safe to say have you considered the financing.Unless you have equity in another property you wont get far with $50K in the development finance world.CheersYours in Finance

Excellent news ttcb as i say you should be getting around 6.25% on a small deal like this so all sweet.CheersYours in Finance

Hi JohnSorry cant help you with an Accountant in Melbourne as mine is in SE Qld and form clients travel 1000's of km's to see him.What do you need a Financial Adviser for?Remember if it is to do with lending or loan structuring they are not licensed to offer you that advise unless they hold a Credit License.That iis the domain of the good old…[Read more]

Hi ttcbIt is unlikely you would get a GR loan on such a small project but in saying that there are many other ways around it.Look i hate to say this but CBA are one of the most conservative lenders when it comes to serviceability to doesnt suprise me that they come in short.Without the actual numbers of course it is difficult to provide you with…[Read more]

Liz
Yes i agree with that but cant see why you would use a LOC when an equity loan us cheaper.

Cheers

Yours in Finance