TonyJL is correct that the first hurdle should be assessing your borrowing capacity and setting up your structure to ensure the loan you take out can grow with you at the pace you wish to grow.To expand your portfolio rapidly you will need a combination of serviceability and price increases to create equity.Dont be in a hurry to buy buy buy but re…[Read more]

Hi GavI am not being funny but the number seem to indicate the cash flow issue is relatively minor.Your rent will shortly be $270 / week or$1170 / month. Assume agents fees of 7.5% gives you a net rental income of around $250 / week.You have $200,000 owing on the property at say a rate of 8.35% interest only means $321 / week.Shortfall prior to…[Read more]

If you are casually employed and have been with the same employer or in the same industry for > 12 months you should be fine.One part of your post confuses me:"I do not own any property/ equity/ shares. No assets.Willing to come out with a big deposit to get started in property investing".If you are willing to come out with a big deposit where is…[Read more]

What is it you want to know.I do own one or two so maybe able to help.

JohnYou have a good start to your portfolio with 8 properties however the structure of the portfolio is important.If you want to shoot me an email i can have a quick look at your position and make some structured advice.My concerns are that they are cross collateralised so we might have a bit of a web to untangle.

Louise …..Just do a search on the Investor Club on the forum and you will see many many previous threads.

Hi GavA Nodoc loan means that you are not required to state any form of income whereas a lodoc loan requires you to state in most cases your income on the application however additional documentation is not required.This product is aimed at the self employed market where the business owner has not had the opportunity of preparing their accounts…[Read more]

Land values have risen quite considerably last year therefore you have to spend more time in looking for good deals…they are out there if you look hard enough. Anything that gives you a margin of around $50k should be good enough.I have been referred a couple of deals with these sorts of margins in them over the last 2/3 weeks.

BenUnlikely though that any Vendor would sign it if it was less than 5 business days to the Auction and would expect you to waive the Cooling offer period.

KrisNot sure which State you are in but i am sure most would be the same.If the property is going to auction then most sellers would want the cooling off period to have expired prior to the day of the auction especially if this is a weekend.Otherwise there is nothing to stop you withdrawing under the cooling off period and they find they had…[Read more]

blogs how many are you buying in companies such as these.By the way the low for the day was 1.465.

5 to 6 times scary isnt it.When i left University in the UK in the 80's it was 3 x your annual income or 3.5 x if you used the right lender.

Sorry cant help you on Qu 1 but as for 2"Anyone carrying on an enterprise needs to be registered for an ABN" doesnt mean that you have to wait until you have some revenue. Also remember a sole trader, partnership, Trust or other entity can operate a business you don't have to go to the expense of setting up a Pty Ltd Company straight up. If you…[Read more]

Now back to $1.88.

If you are would consider the Gold Coast feel free to contact my Accountant Steve Hodgkinson who is senior partner at the Gold Business Group in Southport.Steve has been my Accountant for 12 years and has done wonders for us and our complicated structures.I have also introduced many clients to and all are more than happy with the service and his…[Read more]

Sorry you have totally confused me.I think the question is can you use equity in one property to finance the next one and so and so on.If so then the answer is Yes and is how most investors fund their portfolios.If this is not the question can i get you to start again.

Ok would be a good idea to refinance quick smart and pretend it never happened.I can see a few things I would do immediately but transferring the properties to a trust structure is probably not that high on the list due to the stamp duty and potential CGT issues.By all means look at a Trust structure for future acquisitions.The equity you have in…[Read more]

Are you saying that the LOC was used for shares and deposits although you current have your incomes paid into the LOC and then redraw from it to live off ?

Which State is the security located. You might be able to get a quick short term second mortgage to get started and then can establish the Line of Credit later.

No problems. Pleasure.