Drop me an email and i can put you in touch with an excellent agent contact of mine based in Rocky.He can give you all of the low down on the area and in particular Gracemere.I have purchased dozens of properties through him in the last 10 years.

As has been mentioned then is absolutely no way Title will be transferred to you and the mortgage discharged if the debt to the current mortgagee is greater than than the purchase price.It is very simple the Bank will refuse to sign the Transfer document with complete repayment.The only way this would happen if the vendor has other security that t…[Read more]

DanIf the property is being held as an IP and then next property will also be an IP can i ask you why you are paying anything off the principal ? Why is the loan not an interest only loan with a 100% offset account.The loan from your father is this being claimed as a Tax deduction as if so and he doesnt require the funds back then again make this…[Read more]

KateIf the property is being purchased for your daughters then wouldnt it be preferable to hold the property in Trust rather than your personal names.Any future Transfer to them will incur both Stamp Duty and CGT.

LWSorry dont ever want to burst your bubble but i think you maybe slightly short in the way of capital for setting up a SMSF.Whilst there is no legal minimum amount we normally deal with clients with minimum $75K + due to the setup and annual compliance costs. With regards to using the funds as deposit for a commercial property inside the SMSF…[Read more]

LWSorry dont ever want to burst your bubble but i think you maybe slightly short in the way of capital for setting up a SMSF.Whilst there is no legal minimum amount we normally deal with clients with minimum $75K + due to the setup and annual compliance costs. With regards to using the funds as deposit for a commercial property inside the SMSF…[Read more]

I assume you have consider the Tax implication of buying it your name alone.If it is your intension to buy, renovate and then sell the property I would have thought a DFT would have been a better structure to use.

I assume you have consider the Tax implication of buying it your name alone.If it is your intension to buy, renovate and then sell the property I would have thought a DFT would have been a better structure to use.

I do agree with the other 2 comments but can think of a couple of regular lenders who have a no minimum period of employment rule so whether you are on probation or not will have no bearing on the finance application.

MickProbably need to think about the use of a Discretionary Family Trust for your investing journey with you and your wife as Trustees and the 2 soon to be 3 of you as Beneficiaries.

Bardon my friend the Standford Bridge boys look like angels nothing compared to the Service Crew, Portsmouth 939 or The Den boys at Cold Blow lane.

Hi MickWith a good income and reasonable equity base you should be able to start to develop that asset base over the coming years.A good mortgage broker will aid you in assessing your borrowing capacity although there is more to consider than just this.I am assuming your Spouse is not employed or if she is her marginal tax rate is lower than…[Read more]

VishIf you are asking us to comment solely on the 2 options then clearly you would use the whole of your deposit on the PPOR and use the balance of equity to bowwor against to fund the IP or business investment as the interest is Tax deductible.In saying this the structure of the loan and the business acquisition is extremely important as it…[Read more]

I am with V8. Depending on who buys the loan book will determine how easy it becomes for them to carry on in the wholseale market.Many of the smaller players have disappeared due to funding issues and if you purchased a franchise with any of these then it is not worth the paper it was written on.Thats why in the last survey the Big 4 (soon to…[Read more]

No disrespect to either of you but i dont think most sophisticated investors would consider a mortgage broker who didnt have at least 5 years experience in the industry especially given the new MB legislation which is about to me passed.Also dealing with investors i find that being a financial planner helps as there are many situations where a MB…[Read more]

AlbertGood to see Steve is doing the right thing by you.Remember you cannot put the offer in if you havent established the structure already.Also the days of getting 70% of GR on vacant land have almost been and gone. There are a couple of specialisied lenders we use who will do it but they will want to see someone with a bit of experience in such…[Read more]

AlbertWont comment on the DD question but have you made sure you can finance something of this size.

Exactly Bardon.

Hi BrianSubject to your lender there should be no issues in doing a security substitution however this will not achieve your objective.Interest deductability is based on the "original purpose test" as applied by the ATO and clear here the original purpose was not for investment. The security used to obtain the loan is neither here nor there and…[Read more]

Just for the record.Someone phoned me this afternoon calling himself Doug Pestano.He threatened me that unless i write a complete retraction of his company he would look to commence legal action next week for defamation.After asking me how much money i had and was i prepared to loose it all in a Court case i hang up on this individual.Must admit…[Read more]