We have dozens of ex-pat forum clients who we have purchased property for located all over the globe.

In most cases we hold a Power of Attorney for them allowing me to sign the Purchase Contract as a Licensed Agent although in many States by appointing a Buyers Agent they have the power to do so.

Unless you are going to the moon the…[Read more]

Hi Pete

There are a number of lenders that will pay out a Tax debt even if it means a short term business loan.

Being employed 6 months is also not an issue.

To assess the equity you will have to pay out the Tax debt and the business overdraft if it is secured.

Would need a little more information to advise you further.

Cheers

Yours in Finance

Hi Ando

Are ok no you don’t need an ACL for a simple Lease option.

Must admit most buyers we put into homes want a fully blown instalment contract hence we utilise our licence.

Find it gives them a lot more flexibility.

Cheers

Yours in Finance

Lisa how are you getting around the ACL requirements ?

Cheers

Yours in Finance

In Qld it is normal to accept an pre-offer letter i.e email with a note of your terms and conditions.

The Selling Agent can discuss this with the Vendor and if agreement is reached those terms can be put in the Contract of Sale.

Fairly standard and the way we make all of our offers for our BA Clients.

Cheers

Yours in Finance

Hi Akhilla

Seriously won’t matter where you Accountant is based.

Look all of your team most things can be done by email, phone, skype etc

Just one thing to bear in mind. Property investing should be treated as a business not a game.

Cheers

Yours in Finance

Hi Akhilla

Your borrowing capacity will not necessarily increase dramatically merely by buying in 1 name or another.

Lenders will in the main assess you jointly and severally responsible for any joint loans i.e your PPOR, credit cards etc and will certainly assess your living allowance accordingly.

The questions should be more based around your…[Read more]

Hi Codie

In QLD whilst you can keep the Building Boost if you rent the property out in 6 months you will loose the concessionary Stamp Duty.

You are required to occupy the property for 12 months to claim this.

Expensive to pay it back in month 7.

Hi Jess, Maximise your borrowings. I would go for a 90% lvr and keep the cash up your sleeve. You…[Read more]

Ring BCC Town Planning Department and tell them you believe the dwelling you are living is illegal.
You are concerned for your safety and could they send someone round to look at it.

Treat the Bond and Rent remedies as separate issues.

Cheers

Yours in Finance

You wont get a renovation loan approved on a LOC basis with equity as Terry has mentioned.

If you are using your PPOR as security then the purpose of the funds will immaterial and your limit will be approved irresective of the use.

Just make sure that taking the LOC doesn’t prohibit you buying the IP because servicing fails.

Balancing between…[Read more]

At the moment we are getting 6 months Builder Terms on land releases.

We normally don’t settle on the land but buy them thru Put & Call Options taking 5-10 at a time.

Lot more efficient that way.

Cheers

Yours in Finance

Hi Jojo,

If you are in a position of strong equity and weak servicing it wont be a matter of looking good to a potential Bank as every lender on a Coded loan will base its lending around your ability to repay the debt according to their own criteria.

Whilst most lenders have adopted a similar servicing as a result of the higher APRA…[Read more]

Hi Jon,

Many other lenders will do it but often to prevent fraud need a signed letter from the mortgagor to confirm you are aware it is unencumbered.

Can’t see any reason why you would do it this way.

Cheers

Yours in Finance

In my opinion 10K is far too much for a BA.

We charge a maximum of $6000 + GST and provide a full service start to finish.

Cheers

Yours in Finance

I would be very wary of certain organisations you have mentioned in your initial post. Remember all that glistens is not gold.

Settling on a 200th property means nothing if you have debt on all of them.

I retired at 40 with 40 properties without any debt at all and a portfolio value in 2004 of $26M. There is a big difference.

Like anything a…[Read more]

I would be very wary of certain organisations you have mentioned in your initial post. Remember all that glistens is not gold.

Settling on a 200th property means nothing if you have debt on all of them.

I retired at 40 with 40 properties without any debt at all. There is a big difference.

Like anything a mix of strategies is required but bottom…[Read more]

Hi Chattaway

Yes nice in theory but have to remember servicing requirements for investment properties has changed considerably over the last 6 months.

There are now a number of hurdles to overcome some of which include:

1) Many lenders factor in a monthly expense for board / rent even though you maybe living at home.
2) Lenders accept between…[Read more]

Hi TM

@JacM who is a member on the forum here is a Buyers Agent who covers the Geelong area.

Cheers

Yours in Finance

Hi TM

JacM who is a member on the forum here is a Buyers Agent who covers the Geelong area.

Cheers

Yours in Finance