Yes John appreciate your honest view.As GOM mentioned i think another case of PS ing.

SNM has beaten me to it.Unlikely it is in your Banks interest to protect you when they can protect themselves.

Same answer as Sommersoft forum.

Yes an offer or two a week is about right for serious investors.As long as you make sure your contract is subject to building & pest inspection, finance etc you should be fine.Most finance applications will require a Bank valuation as they certainly wont want to be lending you more than the property is worth in the current climate.Make sure your…[Read more]

Well you can certainly make a living trading in options it if you have sufficient capital.

Yes in an ideal world I would establish a LOC against the PPOR and a totally separate standalone loan against the new IP.If 1 loan is taken out for the total amount the loans will have to be crossed and not my favoured way.

 In a nutshell that is still the case:If you have steady income from share trading or option premium they would take it into account – but you had to have a 2 year history of it.2 Years Tax returns and would be acceptable.

Hi PSYes you do as you will need a total amount of $300K (Ignoring acqusition costs) to settle the purchase.In this example $270K is secured on the new IP and the $30K on your PPOR or other property.

Duplicate post

Hi EddieIf the lvr was 60% or below there are a couple of options.All boils down to the Banks risk i guess. At that level they believe you will loose and they will win.

With some lenders your Broker can order the valuation and then he can always show you a copy.Very few lenders will accept an alternative valuation report unless it is from a valuer that is a Bank panel valuer.

royNo with most development finance subject to equity interest can be capitalised to the end debt.

Hi kleinFinance markets have changed a lot over the last few months so would need a little more information to provide structured advice.Probably have a little bit of appreciation anyway in the IP so may not be a bad time to look for a clean up so you can progress on your investing journey.Drop us a email if you want and i can throw in some comments.

 I only used the LOC for the deposit and fees such as stamp duty – That is fine.I would also be careful about giving others advice if you are not licensed to do so.

Never a bad day in the office just looked like another property spruiker with a opening post.

Klein Firstly welcome to the forum and I hope you enjoy your time with us.Sorry you kinda lost me mid post.Did you purchase the IP using a LOC in its entirity or only to fund the deposit and acqusition costs ?If you did you may have an issue and suggest you clean this up immediately.Are the loans crossed ? I recommend to clients to have all forms…[Read more]

In WA you will need a Credit License to offer Vendor Finance Terms.I think i would start by contacting the OSR in WA to find out what you need to do to obtain your Credit License and can then go from there.

Is anyone interested in Investments in Germany – NO

2 separate lenders is even safer.

Unfortunately it is not as easy as your man at Westpac mentioned.As i posted earlier several of the majors have "All money clause conditions" in their letters of offer and therefore splitting the portfolio is the only real way of safeguarding yourself.