Hi Owl
Welcome to the forum and I hope you enjoy your time with us.
Yes I don’t see an issue at all in starting your portfolio with a new home
( I built my first investment property when I arrived in Australia in 1993 and still own it today)
as it will certainly provide with plenty I’d Tax credits in regards to Depreciation and Capital Allowance…[Read more]

Really Jon i cant think of any lender who insists that you have to be GST registered where you are declaring a turnover of less than $75,000.Done many a lodoc loan where the client is apply for $150K and is only earning $60K or so per annum.Dont have to be GST registered to receive investment rental income so that is purely from the registered…[Read more]

MariaGo with Terry you will be in good hands.CheersYours in Finance

Heh Jason hate to say that would count me out then as do everything myself including answering the emails licking the stamps preparing the lending submissions and working the deal from start to finish.

Like to think clients feel they are getting a more personal touch.

Currently I am some 14 hours away in Vancouver Canada on holiday but have just…[Read more]

No Andrew I don’t think it will make any difference whatsoever.

I have just had a forum client email to say that a Broker wants to charge her $12,000 for setting up a debt reduction program for her which is an elaborate way of using a line a credit facility with an interest free credit card and using a auto sweep.

The firm concerned are Licensed…[Read more]

Jon there is no legal requirement whatsoever to be registered for GST where you turnover is less than $75,000 whether the application is lodoc or fulldoc.

Cheers

Yours in Finance

Hi MelBefore you decide I have to ask you one question did you cross collateralise the 2 loans ?If so then hate to say it wont be you deciding what do with the equity but the Bank.They may wish to hold it as cash security or reduce your other debt. Re-using the funds to do a reno project may not be an option.CheersYours in Finance

Hi KristinNo certainly not booked in fact not yet pencilled in just had a lot of clients and potential clients ask me would i come down to Melbourne & Sydney and talk a bit about how i amassed all of my properties.Jac M is my local bag lady and will be suggesting the sort of venue i can hire which will be easy for everyone to find and easy to…[Read more]

Hi Julie & RonI must admit if it was the first purchase in your SMSF i certainly dont think i would be buying an off the plan property especially if you are looking at an 80%. There are only 3 lenders that i am aware who are offering an 80% lvr and one of the certainly wont lend on off the plan.I must admit you wouldnt want to take the risk that…[Read more]

Hi KristenIf it was a month later i might have been able help out as i am down in Melbourne doing a series of SMSF investor presentation nights but unfortunately i am currently on holiday in Canada and not back until mid July.Hope you get some suitable.CheersYours in Finance

Hi tiggie, Firstly i am sorry to hear about the break up with your partner which is never nice.With the equity you have in the property and with potential rent from both this house and any potential new investment property you purchase I am sure that finance is achieveable. Maybe not easy but doable.You really to work out in your mind if you re…[Read more]

It never ceases to amaze me why investors become interested in One Stop Shops as they think they get a bargain by having a group of linked professionals all with vested interests promoting themselves and offering over priced properties to unsuspecting buyers.CheersYours in Finance

Thought they would be.No never heard of them or had any dealings with them.Be interested to look at their website.CheersYours in Finance

Never heard of them.What do they do ?CheersYours in Finance

John i have responded to your emails / posts on a number of ocassions in regards to the financing of such deals. There is no lender / mortgage insurer in Australia that will knowingly lend to an investor who in turn intends to onsell the property by way of an installment contract.This also goes with Vendor assisted deposits which are not…[Read more]

Like Terry never heard of any such ruling.We work with a couple of specialised further of Asset protection lawyers and have done for their clients for nearly a decade.CheersYours in Finance

Hi BrokataFirstly welcome to the forum and I hope you enjoy your time with us.I think you strategy is bang on a certainly the way i build my portfolio of residential properties.Drop me an email and I will send you a copy of the API interview i gave setting out my plan on building a portfolio to live off.As i say often your loan structure is so…[Read more]

StreakerIn essence you have it about right. I would suggest an equity loan if your current lender charge a higher interest rate on a line of credit. The purpose of the funds will be for investment and therefore deductible.Then make sure you use a separate lender for your IP's.The offset account should be linked to the non deductible portion of…[Read more]

Hi AmitSure if you wanted to drop me a quick email with some basic figures i can come back to you with a short assessment.CheersYours in Finance

Hi AmitI dont want to appear negative but your opening title concerns me a little "How to Excel in the Property Game".I hate to say Property investment is not a game but a business and must be treated as such.You need to have the same mental state and attitude as you would do if you were sitting an exam, learning a foreign language etc. You need t…[Read more]