Why not post what their broker has suggested first so we can comment on it.Are the Unencumbered IP's owned in their personal names ?

in QLD you can make multiple offers but if they are accepted you can not pull out unless you use the cooling off period which will incurr a .25% of the total purchase price penalty. This assumes that all of the offers were cash unconditional offers otherwise as Jackie has mentioned you could terminate on the basis the approved finance was not…[Read more]

Did you go to Contract or sign a Call Option over the property ?

Hi BenWhy not post your No Money down details on the forum here for everyone to see.

Dont want to appear rude but If you pre sell enough town houses then getting a loan shouldnt be a problem it doesnt work like that.You will not get 100% of cost + acquisition even if you had sold them in the current market.

Financing a deal like is possible it just depends on how much deposit or equity you have in existing properties to offer as security.Realistically you will need at least 20% of the land cost and construction costs to make the deal palatable to any lender.

Wont comment on the location or price but have you considered the Qld Stamp Duty on a $2 Mil purchase.

CGCertainly wont be financing it from any financier in Oz so whether it is classifed as a property or business loan is neither here nor there.My suggestion would be to approach a couple of SA brokers and see what they say.

SeankIsnt it funny how many new forum members all of a sudden are dealing with Premium Finance when 3 weeks ago no one had ever heard of them.

LCMy suggestion would to switch the loan to IO immediately and link it to 100% offset account (Not sure if you can get this from ING though). Have your salaries paid into the offset account to reduce the interest deficit.Even if you move back into the property I would still have suggested an IO loan as this gives you plenty of flexibility.

I was fortunate to retire at 39 and could have quiet easily lived of passive income from property rents and dividends from my share portfolio for the rest of my life.After 6 months or so it is suprising that when you have nothing to get up for in the morning other than take the kids to school time can be boring and time ticks away if you havent…[Read more]

GOM – Precisely.

As this is your opening post Greg you understand that we maybe suspicious that you work for them or are associated with them in some way.

MattAre yu sure that wasnt Kevin Samphy who became Kevin Young overnight.

MattAre yu sure that wasnt Kevin Samphy who became Kevin Young overnight.

What LVR are you looking for and who is holding the senior debt ?

Hi BothSomeone asked the same question earlier in the yearHi – you guys on the Forum seem to know everything and everyone – financial that is.Has anyone heard of this company who operate out of North Sydney ? Doug Pestano is one of their senior advisers. Any good stories out there about them ?ThanksBut never came back to tell us how good they are.

seank – indeed indeed.Especially when his first 2 posts were exactly the same.BEWARE

Have sent you a PM to answer your question.

As the agent what deposit terms the vendor are accepting.Often you will be required to present a deposit cheque (personal cheque is normally accpetable) on signing which is usually at a weekend.Other thing to do is make sure your mortgage broker or financier has organised a valuation on the property prior to you bidding.Remember the financier will…[Read more]