Terry i think you are right would be around 4 years.Not nice circumstances either.Be grateful for what you have in this world not what you havent.

Yes SIS lived only a few minutes from me and that was a trajedy.Mortgage Hunter – long story probably not for the forum but dont know what happened to the others.I assure you the bigger portfolio you have you dont manage it yourself that's what efficient young ladies (or gents) are for.

Yes the average loans officer or even Bank manager (glorified senior teller as non of them actually make lending decisions) probably doesnt even own his own PPOR let alone IP.Considering most loans are credit scored in some form or shape these days you need to keep the total exposure under the lenders maximum loan radar or big enough to make your…[Read more]

Yes but well worth it……

Sorry Dean my point was if your own Banks appointed valuer is not giving you the sort of Bank valuation you think you should be getting then an alternative lender may use another valuer that will give you a different figure.Nothing to say you cant refinance a couple of properties away from your Bank if terms and conditions elsewhere are more…[Read more]

Dean i am with you.i have 40 properties in SE Qld (well Brissie if the truth be known) but over the last 3-6 months have started to become more adventurous and started looking inter state.Dont have to go that far but can look outside your own Bank.

No worries Singer.It is a good community we have hear and both Terry and I have been part of it for some time.Pleasure to throw in the ring ideas and comments especially if they help other investors.

Hi TraceyFirstly welcome to the forum and glad you came out of the closet so to speak.Yes your Accountant is correct that there is Annual Land Tax costs to consider however this is only one thing in a much broader arguement.You need to look at the bigger picture and your goals and aims both in the immediate and long term future. Asset…[Read more]

Dean had you thought about taking one or two away to someone else.Not every valuer is the same.Have a couple of deals on my desk at the mo where one lender has valued the property at purchase price – XYZ so we took the deal to another lender inisting on another valuer and they have come back bang on the purchase price.As YI said not every valuer…[Read more]

Have to check but if it metro ish or large regional then would be fine.I am the good looking on in the pic lolSeriously i havent looked at my website for 5 years dont even know what it says these days.

Depending on the amount of discount you intend to offer them (which i assume would be fairly substantial)  wouldnt you be better off to get them to lend you sufficient funds and take a 2nd mortgage. Even if you capitalised a years interest upfront you would have to better off especially if you feel this is a short term problem.

Terry is right about the interest on the Stamp Duty cost but the Stamp Duty itself is a Capital cost and adjusted to the purchase price when selling the property.Other loan related costs i.e application fees, Solicitor costs for mortgage preparation etc etc are deducted over 5 years or the term of the loan whichever is the lesser.

Certainly would want to have a decent deposit these days as these babies are small and financiers just love em !!!!!

Certainly would want to have a decent deposit these days as these babies are small and financiers just love em !!!!!

AndrewOf course other option would to take out a shared equity loan and only make repayments on 70% of the purchase price of the PPOR.If you have 10% deposit (and you do of course) lender would provide interest free on 20% (STC) and take their return by way of 40% of the capital increase.Just frees up more funds month to month to fund IP and deposits.

RishiGive it a month and you can but them a wee bit cheaper.

Hi JaredWelcome to the forum.Without being funny your Accountant will have very little idea on what is out there in the lending market.Certainly he can advise you on Tax effective structures and look at ways to reduce you cash flow but as to how to structure a home loan he will be a fish out of water.There is no point in paying out significant…[Read more]

There are still shared equity loans available for PPOR loan albeit they have to be in right post code.As long as you can come up with 10% deposit you can reduce your monthly to free up more income for investment loans.Your P & I repayments are based on 70% of the purchase price and the 20% is interest free (subject to payment history being sa…[Read more]

Depends on how complicated the structure is.Simple personal Trustee probably look at a draft deed and do it yourself but if you where in doubt get your Accountant to do it.As Terry mentioned lending policy much the same but only difference would be the application costs and the interest rate.Most but not all lenders wont discount their interest…[Read more]

Not all my comments are sensible gary lol.