Terry has done an excellent job of answering the legal bit.In regards to the construction loan it maybe possible to do this subject to the overall lvr however hate too say you will need to refinance as the loan on the construction portion will need to be with the same lender who holds the land as security.Depending on when the defaults were paid a…[Read more]

Hi MaccaShoot me an email an email and i will send you over the latest project we are recomending to our investors.CheersYours in Finance

Macca if you mean they take the overseas property as security it is clear and simple = NONE.If you mean you set up a line of credit and use the funds for whatever purpose then a few will do that.I am in the UK at the moment sourcing properties for my Australian investors so can speak about the UK with some authority.CheersYours in Finance

Hi StewartHate to say that going the VF route doesnt avoid the fact that you have to show clear serviceability especially under NCPP.In saying all of this if you have such a large deposit and you are working i dont think you are a million miles away of getting a traditional style loan. Would need a little more information and assume that your…[Read more]

So clients can't gear against their US Investment in Detoit ?All depends but the latest project prices start at circa $46K.CheersYours in Finance

Hi NathanWhat Lvr are you getting for Foreign National's in Detroit ?We are getting upto 90% lvr for Australian's in the UK at 5% fixed for 5 years.Same purchase process as in most of the Australian States and in most cased tenants and professional property management in place. Healthy Depreciation and Capital Allowance claims.In France we are…[Read more]

Remember going the Vendor Finance route does not circumvent the fact that she cant get finance because she is on a low income.Vendor Finance still falls under the guidelines of NCPP.CheersYours in Finance 

I try to avoid face to face because i have a head like a melon lol.CheersYours in Finance

Have a good mate of mine who has been around the traps for many a year based in Mt Gravatt.Let me know if that is South enough for you ad i will give you his details.CheersYours in Finance

Lodoc in both Company or personal name is still very much alive albeit the amount of documentation varies between lenders.Just have to bear in mind if the lvr is over 60% you will end up paying LMI. Also some good interest rates around for Lodoc again so some appetite is coming back.CheersYours in Finance

Think you will finding getting Rabo to do a deal in the current climate extremely hard.Couple of options i can think of but all depends on the actual property and of course more importantly the lvr required.CheersYours in Finance

Hard one to answer without a lot more hard data.What type of Com security / full doc or lodoc / established business or not / variable or fixed rate / resi security Com purpose the list of questions goes on and on.CheersYours in Finance

As Jamie says but if you want it written out in black and white shoot me an email and i will send you an article extract i wrote some years back for the API magazine on such.Some of the points might be slightly out of date but could easily be replaced with another dozen reasons.CheersYours in Finance

Yes i hate to say it is an issue and i believes one of the many problems in buying in the US.Thankfully the UK process of buying a property is very similar to that of many States in Australia.Property management is an occupation and treated seriously rather than operates as an add to Real Estate ageny sales.Most PM have licensed tradesman on t…[Read more]

Sorry New2Invest why in the world would you pay a Cash deposit when you have a PPOR loan.By doing this you have now lost the interest deduction on the 10% deposit and also have contaminated the interest deductibility by just increasing the PPOR loan. I hope you have set up a split loan instead.CheersYours in Finance

I would suggest Michael as he is based in Sydney and a very experienced forum member.He has already answered your post so you can obtain his contact details from there.CheersYours in Finance

MJP where are you looking to invest ?CheersYours in Finance

Personally i would run a mile if the property is in a poor state of repair.Couple of points worth bearing in mind:1) The Tenant (Company or not) may serve if they have not already done so an appropriate notice to have the property bought upto scratch and any work done and you as the purchaser could be forced to comply.2) The cost of trying to find…[Read more]

Hi MarkSorry i think you are talking to the wrong brokers.There are still products out there which allow for an 80% lodoc lvr without the need for BAS / Accountants Letter / Bank Statements.Still credit scored and you would need to provide evidence of your deposit.CheersYours in Finance

Hi ShaneYes your point is well made however i must admit i think i would be holding off fixing until we see which way the next RBA meeting goes and if we see a 25 or 50 bps reduction in the Cash Rate i believe Fixed rates will fall even further.CheersYours in Finance