Might get D2 to answer that one because of Privacy.

GOM you are right with some lenders we can access the valuation but with this lender they will not release it to me or D2.All we know is that the comments in relation to the property risk analysis were all low and i agree with you that i think D2 has a very good buy at the price he has paid.

I coudnt agree more.Save your pennies and read as much as you can.Maybe attend the odd investor get together in your area which are usually free and attended by like minded individuals.Deal with people who have been there and done and give up there time for nothing rather than people who have something to sell you most of which you could r…[Read more]

I coudnt agree more.Save your pennies and read as much as you can.Maybe attend the odd investor get together in your area which are usually free and attended by like minded individuals.Deal with people who have been there and done and give up there time for nothing rather than people who have something to sell you most of which you could r…[Read more]

Pleasure BrianCan be a very effective way of generating positive cash flow income.

Hi bobsyI am not convinced that you would need to the loan as a lodoc loan and believe there are a couple of lenders who would do it as a full doc loan given that you are in the same industry.i am assuming of course that you Contract to a single employer rather than half a dozen firms and the Contract is for a set period i.e 6 months / year…[Read more]

Hi BrianGood to have you in the forum.I think the question is what is a Wrap ?A wrap or a wrap around mortgage involves the investor buying a property and then onselling to someone else who is unable to obtain traditional style finance so pays back the original owner through a series of instalments.The original owner charges a higher price…[Read more]

Please dont use your PPOR redraw to fund any shortfall as the interest will not be deductible.Just get your mortgage broker to order a valuation for you upfront on your PPOR so you can see the numbers you have to play first.Then when lodging the application you can decide whether you wish to cancel the redraw or not.

Hi JasonHate to disagree but it is not that easy. Most of the major lenders prohibit the owner signing a Tenancy Agrement for longer than 12 months without the mortgagee express consent. Now whether he does or not is a different matter.With regards to a Instalment Contract their is no Tenancy as the purchaser has a right of posession albeit not…[Read more]

Guys before you rush off outside and acquire anything have a look at what Steve offers by way of an investment  template.Lets face it is his forum which he lets all participate in so where possible I would certainly try and promote his products first.If they dont fit then by all means see what else is out there to suit your needs.

Yes totally agree investors should get their own Tax advice.Be suprised how many lenders have said they will not touch the scheme where a Head Lease is involved.

Kimif you have equity now i am not sure why you would take out LMI why would you not keep the loan at an 80% lvr and then increase the loan when the valuation increases keeping it at 80% through debt recycling.Only if you think you will have an issue down the track would you cop the LMI now.Why add further expense to your acqusitions especially…[Read more]

I agree must admit i have never spent a cent on a seminar and that is not because I am a tight arse but because i often cant convince myself that the host is going to teach me something new or worthwhile.I am not saying i am an expert but all i am saying is you not need to spend a fortune to educate yourself.With regards to a loan structure it is…[Read more]

Unless there has been some serious renovations you wont be getting to much in the way of Capital Allowance claims and without knowing whats inside it is hard to comment on Depreciation.Why not contact someone like "Depreciator" or "Washington Brown" and see what they have to say.Most QS forms will give you an indication of what is likely to be…[Read more]

Hi RobHow is you group coping with the initial ATO ruling last week that the Tax credits wont be available to individual mum and dad investors only to Companies and Charities ?

Hi RobHow is you group coping with the initial ATO ruling last week that the Tax credits wont be available to individual mum and dad investors only to Companies and Charities ?

Anything over 80% especially if you want it done quickly will incur LMI so you need to factor this into your figures and is charged by all major retail banks. (work on circa 2% of the loan amount for a 90% lend over $500K borrowing).If want to pay the loan in 6 months you will also need to factor potential deferred establishment fees or early exit…[Read more]

Hi FAMEFirstly welcome to the forum and I hope you enjoy your time with us.If you really want to keep the property then certainly selling the property to a Trust is an option however just bear in mind you cop Stamp Duty on the Transfer value but i guess on $210K it is not a fortune.Also might want to check with the OSR as to whether you would…[Read more]

$495 for the full Qld compliant contract UCCC approved.

Ok 2 weeks wow you are pushing it.If the anticipated purchase is 675K what are you looking to borrow against it.I assume will be looking at the property as an investment property so wont be claiming the FHOG.Realistically max lvr would be 90% and anything over 80% lvr the mortgage insurers are going to want to sight 3 months savings history. Also…[Read more]