Hi KurtFirstly welcome to forum and i hope you enjoy your time with us.Certainly there is no requirement to have 6 months continous employment with a new employer especially with a good previous employment record. Certainly if the new position was subject to a probationary period then might be slightly harder but in saying that I do have 1 lender…[Read more]

Hi AndrewFirstly welome to the forum and I hope you enjoy your time with us.Whilst you are unable to borrow against his equity in your own name (referred to as a 3rd party mortgage) this is a situation which we come up again regularly with clients and structured correctly there is a couple of ways around it.Of course without further information it…[Read more]

Newbie An alternative would be to start off with a wrap or two to accelerate your cash flow and use this to pay down your non deductible debt. You could then look at a good capital growth property with maybe lesser yield and balance your porfolio that way.

Hi ElisaDifficult to provide structured advice without further information on your asset/ liability, income or expenditure position.Half the battle is protecting your assets and establishing your finance in such a way that the loans are not cross collatealised.A little time spent restructuring can be the difference to going forward in the right…[Read more]

Certainly do not sell merely for selling sake.As Paul has mentioned utilise the equity to acquire a couple of positive cash flow properties and offset one against the other.Have a look at wrapping for a way to get straight into the positive cash flow market.I have lectured at many an investment conference on wrapping and positive…[Read more]

Hi PeterI would suggest  a combination of both is an ideal mix in any portfolio.As Paul has mentioned wrapping or LTO offers excellent cash flow to offset the cash flow shortfall on higher capital growth properties.Depending on which State you start wrapping in you could well find that your purchaser can give you your deposit for the next deal…[Read more]

For a simple DFT with Personal Trustees the average cost is around $600 and if you throw in a Corporate Trustee then you add around another $1000.GOM you are correct for doing what Kkatlea is trying to achieve I cannot see any reason why she would not proceed with that style of entity.Often we suggest to clients they start off with a DFT and PT's…[Read more]

Personally i would never suggest using a LOC secured against your parents property to fund the entire purchase price of a new IP however in saying that can understand why you have bought up the question.Being self employed will have NO bearing on the deal you can obtain on the basis that your Tax Returns can show sufficient income to service the…[Read more]

Steve oh you are good.You ask my wife every arguement I am wrong lol.

Steve True but we are talking residentially now lolJHK – Hate to say your Broker doesnt seem to know that market that well as that is a standard part of the credit score process.You are actually lucky that you might have a human credit assessor looking at the deal and not just a computer decline or approving it.

GOMOh you old sinic, you know why the answer is the same to every question it is called promoting your business.

Oh the old $2 Company Guarantee.Yes we had a few of those in Brisbane before the Company went bust and the Directors disappeared.

There is a big difference between a wrap and a second mortgage carry back.I have been involved in each for over 13 years here in Qld.They loan argreements between each type of contract vary considerably and your usual suburban Solicitor may not have a clue.As Terry mentioned financing the deals these days as far as the incoming purchaser is…[Read more]

There is a big difference between a wrap and a second mortgage carry back.I have been involved in each for over 13 years here in Qld.They loan argreements between each type of contract vary considerably and your usual suburban Solicitor may not have a clue.As Terry mentioned financing the deals these days as far as the incoming purchaser is…[Read more]

SAS Yes they will do 6 under the Commercial lending policy and always have.Think both Terry and I were referring to residential terms.

Hi MareeYes hate to say they certainly do in fact the criteria is even tighter than normal.

Hi RaeywnSorry but this is clearly incorrect and I think Steve has issued a couple of corrections to this comment in his book.Richard, I was under the impression that it would increase borrowing capacity. (That was the main reason I liked the idea)  It was explained that the debt would be in the name of the company as trustee and the directors ac…[Read more]

Yes and they are not alone Wpac changed their sometime ago.NAB is max 3.Still the odd lender who will go to 4 and 1 I am aware of who will go to 6 but in the main 4+ is commercial rates.

GOMWestpac withdrew their Lodoc refinance with unlimited cash out at Pro pack rates product around September last year.They knew that no other lender was doing cash out refinance at those rates so when you went with them there was no chance you could ever leave.Westpac only in January reduced their max lvr to 87%.CBA have only recently tightened…[Read more]

GOMWho said CBA or WPac want to grow their Credit Book.If you see the increase in lending from both of these lenders over the last 18 months you can see why they are prepared to manage existing lending rather than persue new growth.Up until 4 months ago both taking on absolute rubbish so it is not suprising that the brakes have been applied.JHK.…[Read more]