Hi NickFirstly welcome to the forum and I hope you enjoy your time with us.Not a bad opening question so here goes with an answer or two Is it easy getting permit to build units in the first place. It is if the property is zoned for such and the land size allows for 3 units to be constructed.What would the approx cost be to build all 3 excluding…[Read more]

Amie who is the current lender as a couple of the 100% plus lenders who are no longer with us arent doing further lending.SGB is the odd exception however it doesnt sound like a Dragon deal.If you paid down the principal and set up a LOC or similar to say 90% at the same time as you did the refinance you could create the sub account Terry is…[Read more]

Have financed a couple of properties up there recently for forum clients and have never had a problems with Bank valuations so that is a good start.Rental returns seem to be pretty good from what i have seen and growth prospects are certainly encouraging.If you have any actual properties you are actually looking at and want an Residex report…[Read more]

Remember many lenders dont pay a trail in year 1 so maybe takes a whileAlso to give 50% away seems criminal.I have a couple of guys who i work with and we pay them 70% of what we receive.In most cases we write up the deal and place through our contacts they merely locate the enquiry and write the deal learning along the way. 

$600 seems about right.Think i paid around $450 but it was some years ago.

Under Breakfree Anz have no account keeping fees.

Hi LongmanWelcome to the forum and I hope you enjoy your time with us.The odd lender who wont charge LMI over 80% these days but charge an equivalent by way of a risk fee or similar.None of the Credit unions will waive LMI so they are out.Guess question would be why do you want to refinance the loans ?

Hi again VisI think you might be getting a little confused on how best to structure the deal and what you can and cant claim.Regretfully if you intend to purchase the next property in your sole name regretfully you probably wont qualify for the FHOG as your partner has already received it. In saying this playing around with the equity numbers may…[Read more]

Hi CheIt is difficult to give you advice without all of the available information.It still maybe worth selling the property into a Trust  or if the property is owned jointly transferring it to the other party but hard oen to call without extra info. Regretfully refinance or using a LOC wont help you in maximising some of the Tax deductions.Make su…[Read more]

Have a look at Bantics Accoutants website as they have some useful freebieshttp://www.bantacs.com.au/booklets/Rental_Properties_Booklet.pdf

Hi bothFirstly welcome to the forum and I hope you enjoy your time with us.In regards to Vis's question.Are you both living in the existing property as a PPOR or is it an investment property.If it is a PPOR then certainly dont want to be using cash for a deposit.If not then much of a muchness.Usually lenders have no idea how to structure your loan…[Read more]

Simply because what starts out as a PPOR can often easily end up being an IP when you decide to move out and upgrade and then want to keep the original PPOR as an IP.Flexibility is key when buying property and sourcing loans.

Hi CheOk sounds like your current loan was set up as a principal & interest loan and therefore has been paid down over time.This is where the problem lies and I would have recommended an interest only loan ideally with a 100% offset account.Yes to maximise your Tax deductions you could look to move into the current IP and then look at selling this…[Read more]

Certainly would never bring all loans under a Global Line of Credit which means you would be cross collateralising the securities. This is a Destiny Financial Solutions recommendations and is surrounded with issues for clients wishing to build a decent portfolio.Keep the loans separate and you wont be hit by a single lenders serviceability wall.

Nic Must say i have never heard of them but couple of things:1) They should be aware that GST registration is required where Turnover is over $75,000 and nothing to do with Income.Good start for an organisation advising others.2) If their model is based on the fact that you offer referrers 50% of the upfront commission you are going to have to go…[Read more]

Depends on the size of the acreage but probably around 65% max lvr assuming full doc.

But in saying this there are still a lot of important pluses to DFT's.

I would have an interest only loan even if the loan was for owner occupation.

There is only 1 lender doing lodoc refinances with "cash out" over 60% so choice is limited.You would keep your place to a 60% refinance and use the funds raised as deposit and acqusition costs to go to another lender and do a 80% lodoc purchase. As long as you have held an ABN for 2 years and are registered for GST then 80% lodoc on a purchase i…[Read more]

Hi DylanOnly way you could access the equity in a jointly owned property is with the consent of the other party as they will have to sign the mortgage application and other documents.Also whilst you will only be able to use 50% of the rent (Assuming property is owned as Joint Tenants or Tenant in Common with 50/50 share division) for accessing…[Read more]