Ok i am back from the USA anyone miss me …..WC the fall in official rates has been passes on % for % in the Commercial market as many lenders have withdrawn totally from this type of lending.In saying this it all depends on the security involved as it is an area that lenders can certainly price in the risk.If you are referring to a $400,000…[Read more]

I think the word OWN should actually read OWE.

Hi WCAll well this end thanks off on holiday to the US in less than 5 hours so cant wait.Yes no GST on a GC basis however not all Commercial properties can be sold on that basis.Normally if the property is vacant we suggest to clients to time the date of settlement.

On the basis that the GST is payable on the Contract price it is payable as part of the Settlement Funds.For cash flow purposes you might want to time the Settlement date  to tie in with the end of the quarter.

This is a personal choice and subject to many other criteria but i normally prefer to arrange an IO loan for clients linked to a 100% offset account.

Why would you not just go to Contract at $230K and have the extra equity built in.Admitedly your LMI would be a little higher but at least you wouldnt be spending years looking thru bars thinking about "if only"

Certainly you can post details for other members to comment on but personally I would be slightly careful about detailing too much personal information on an open web site. 

YosYes Gemworth have changed and PMI/QBE will change later this week.What about the lenders who dont mortgage insure ? There are always options.

Tess, Correct there are also couple of lenders that charge a risk fee instead of LMI which may also work out cheaper.

You need to understand that the Gemworth policy varies from lender to lender so you may still be able to refinance and move forward.Also bear in mind that not all lodoc loans are mortgage insured so that will also help you carry on.

R….. beat me to it. TB told me that this the morning. I am told there are a few more changes to come out of ANZ yet.

When you are checking those facts Dale you might like to see where Lee Doyle spent the first 2 1/2 years of his working life !!! (even check with Jeff Brown)Park Trent does like to make a profit and so do Financial Planners but thankfully we dont rip clients off to the tune of thousands which can be evidenced by the number of valuations I hold in…[Read more]

Oh by the way just in case you werent aware Cross Country Realty are associate with Park Trent.Just do a forum search on Park Trent first and see what other have said about their experiences.

Dont you love the phrase:I am connected with a large property investment and marketing organization that strives to assist mum and dad investors to create independent wealth through building a property portfolio. Which means i work for a marketing organisation that sells over prices properties to unsuspecting buyers.For Caboolture use the best…[Read more]

Hi thereYes you are correct the insurance will be covered under the Builidng Insurance policy taken out by the Body Corporate.Some lenders may insist that you take out a separate poliy however this is rare these days.On the Disclosure Statement the Vendor has to provide you with information from the BC and the insurance details will be on there. 

Trev Yes sorry i assumed you meant you where buying in the US.Again dont want to disagree but even with a long settlement, using VF, flipping the deal etc you wont get a no money down deal being a FN. Trust me i have financed enough deals with uS lenders in the past 5 years.In Oz this is standard practise for wrappers or flippers.

All boils down to resale opportunity for either the vendor or the lender.

Sorry to disagreePokie Machines !  The Perfect Business…I see that a Las Vegas casino filled for bankrupcy overnight.

TrevorWhich US lender have you used to finance these acquisitions.

Start a Collections Dept ……………….Sorry for being so flipant but hate to say it is true.