Hi JoyNo sorry it would make no difference at all.Steve has clarifed that point a couple of times in the last few years.Borrowing in a Company or Trust name does not in the main increase your borrowing capacity.CheersYours in Finance

As has been noted above it is the purpose test that dictates the deductibility of the interest.In saying this i would not be using your PPOR sole to fund the IP or indeed cross collateralising the 2 securities.A mix and match of an equity loan and a standalone loan secured against the IP would be the way to go.Once the IP increases in value a…[Read more]

Hi MattThe First Home Owners Grant is a Federally funded Grant adminstered by the individual States.It is $7000 in all States however certain States provide an added bonus to compensate for you having to pay Stamp Duty (In states where there is No FTB Exemption) or to encourage construction.You would not receive the Grant on a blocj of land…[Read more]

If you could make them individual purchase contracts although all conditional upon each other settling then you could still do standalone loans.CheersYours in Finance 

Angel you are braver than me.I couldnt understand a word of the post and gave up after the first para.If jelovea would like to repost it in a format most of us could understand i think she would get some additional responses.CheersYours in Finance

On the basis they are individually Titled and the Contracts allow for them to be sold individually I would look to use a couple of lenders and having each loan standalone.If they are sold as  non strata title block or on a single purchase contract you dont have much of a choice i hate to say.CheersYours in Finance

Hi JoyFirstly welcome to the forum and i hope you enjoy your time with us.I dont want to put a dampner on your investing dream but from a quick number crunch i cant see you having any chance of showing satisfactory serviceability for additional borrowing even given the potential rental income.Obviously without being aware of the complete picture…[Read more]

Larry all depends.By all means manage your own portfolio and save circa 8% but remember the tenants will be calling you at 8pm on a Sunday night when the stove wont start or the tap is dripping. You will also have to collect the rents advertise for new tenants at the end of each lease etc etc.I started with a property manager after 1 property and…[Read more]

Hi ZoeI am assuming you are looking to refinance in order to release some equity.Hate to say your Broker is incorrect and not every lender uses the same valuer.Admitedly depending on where the security is located you might find the options limited however without more information it is difficult to comment.CheersYours in Finance

Hi ChristinaSure feel free to drop me an email and I can make some constructive suggestions.CheersYours in Finance

No you will be paying it on $50,000 less of course certain adjustments.Doesnt matter what you do with the cash you still pay Tax on it.Think you are getting confused when it comes to selling a going concern business.CheersYours in Finance

Guys i hate to say i get approached at least weekly at the moment from people asking for me to Mentor them and I just cant take any more on at the moment.Other parts of my business are so busy that there are just not enough hours in the week to do everything.If time allows in the future i would be happy to take on more students.CheersYours in Finance

Hi NicoleHate to say in the current climate you wont finance a deal thru a traditional lending source on a no money down basis especially under NCPP.FHOG Pty Ltd which is a specialist Vendor Finance Company and 1 i have been a Director of since 2000 had over 180 properties under wrap at our peak and is the largest provider of vendor finance in…[Read more]

Maximum is 40 years but in saying that limited to a couple of lenders.25-30 is the norm.Although of course on an interest only term the length of the loan is imaterial.CheersYours in Finance

Hi ChristinaIf you sell the property now there are no Tax consequences as the property is your PPOR.If you decide to sell it in 12 months time then:1) Rent received will be added to your income for the period.2) Interest, Council Rates, Insurance, and other cash and non cash expenses will be deducted from your income.    You will receive a Tax cre…[Read more]

Sure you can still just about borrow using a Hybrid Trust (from memory there are 3/4 lenders with vary rates and terms) but in saying that whether that will be the case when you come back for a top up in 12 months is a different kettle of fish.CheersYours in Finance

Massive difference between a Mortgage Broker and  Mortgage Originator.Crusty very true but ever tried to get a deal past Westpac Credit at the moment?CheersYours in Finance

Yes Robbie you still qualify for the FHOG if you buy 10 IP's first and the 11th is your PPOR assuming you have never owned a PPOR.Doesnt make any difference whether you have a Lease on your rental property or not the law requires you to occupy the property for 6 continous months commencing within the first 12 months. If the property is tenanted…[Read more]

Yep we have so much luv to share round in PI.comCheersYours in Finance

Hi LoraHope all is well in UAE.Thanks Lora appreciate the referal. Rather than get your friends to post their personal details on an open forum feel free as Jamie mentioned to get them to email me directly.By the way just had my first deal this weel from an Australian lady living in Finland so Yes be suprised how many Ex pat clients i have…[Read more]