Similar to Terry i purchased a place for $32,000 Nov 2007 (Yes i now what you are going to say) and now get $388 / week on a fixed 10 year lease with lease renewals every 3 years.

GladysFirstly welcome to the Forum and Happy New year.I am unsure as to what State you are in but just make sure that you comply with State legislation when it comes to receiving a fee for a deal and whether you need to be licensed to do so.

Hi LeachWe normally recommend Depro / Depreciator to out clients.They can be found on http://www.depro.com.au/ http://www.depreciator.com.auI have no affiliation with either but now both myself and my clients have been very happy with their service.

9ballIf you intend to stay in the property long term then sure pay down the PPOR and establish a new LOC which you can use for deposits and acquisition costs for new IP's.However if you feel that you may sell the property and wish to keep it and rent it out purchasing a new PPOR then utilise an interest only loan with a 100% offset account.

Are you happy to use an Property Manager.If yes try Tania at Mayfair in Clayfield who can be contacted on 07 3262 4533.They have a number of Commercial properties they manage.Tell her i referred you and she will look after you.

Taken straight from the new legislation:Limited Recourse Finance – the funds are advanced on a limited recourse basis. This means the only amount you stand to lose is your original deposit, therefore protecting your other assets from creditors. Due to the increased risk to the lender, the Loan to Value ratio (calculate by dividing the loan a…[Read more]

PhilI thought the new legislation limited the gearing under a SMSF utilisjng Debt Instalment Trust to 70% for Commercial property ?I have done one for my own SMSF but the was under the impression the recent SIS amendment lowered the LVR for Commercial securities. I appreciate however it is 80% for residential property.

PosEWould need more information to answer that one.Depends on what the split between the 2 would be.Unlikely to get more than 50% of the business value without other security and assuming it is not an accepted franchise.

KurtYou certainly wouldn't need or want to set up a Business to buy your future IP's unless of course you are wrapping or providing other vendor finance offerings.Establishing a Trust structure has many pluses and minuses but cost certainly shouldn't be a deterant.For a standard Discretionary / HDT / Unit Trust we normally charge around $600 and…[Read more]

No lol

Hi IvanFeel free to shoot me an email with his details and I can rustle up a quote for you.Compare this with the Bank's FP. Just bear in mind I am independant and they mabe tied to a particular insurance company meaning you will not get the choice of policies.For Term Life / Trauma would just need date of birth, occupation, smoker ? i can then g…[Read more]

Wow stop right that there.If the property was purchased in your personal name then there is no point in your Company re-imbursing you as the deduction cannot be claimed by the Company.If the property was purchased by your Company then you can easly contra the amount in to your figures at the end of the year.

Hi MattNo problems, give a very good mate of mine Keith Clarke a call. Keith is the principal at Mayfair in Clayfield and can check out anything for you in any area.His contact number is 0411 516259.Tell him i sent you and he will look after you.Also dont forget there are also lenders who will fund the deposit on an IP for you. Whilst the interest…[Read more]

Hi StuFirstly sorry to hear about the dentists bill. Forgetting the amount i was more thinking about the $40K worth of pain.Certainly subject to serviceabilty and equity in your current home you would be able to refinance your CBA loan and borrow an additional amount to cover the unbearable costs.Couple of other options:1) Keep the existing loan…[Read more]

IvanGood to hear he secured the 80% LVR must admit i though he was buying it as a PPOR.Firstly Mortgage insurance is a tax deductible expense (over a 5 year period or the length of the loan whichever is the shorter) and not all lenders charge LMI over 80% LVR.I would have probably gone 100% LVR interest only with an offset account and she could…[Read more]

Hi BlazeFirstly welcome to the forum and I hope you enjoy your time here.In simple terms i would imediately switch your loan to an interest only loan with a line of credit and then attach a 100% offset account to the interest only.If you deposit the extra funds in a high earning term deposit account you would probably receive mabe 6.5-7% for a…[Read more]

Hi Get richFirstly welcome to the forum and I hope you enjoy your experience.Whlst i dont intend to comment on the area as i dont own anything presently in Victoria i would comment on the structure and the way in which you shoulkd consider funding a deal like this.Firstly the initial acquisition is going to be a PPOR at least for the first 12…[Read more]

Hi Del Firstly congratulations on your success so far and i hope you enjoy the forum.Unfortunately i dont wish to put a dampner on the comments made in respect of lodoc / nodoc loans but thought i should clarify a couple of points.A lodoc loan is only available for applicants who are unable to provide the normal income evidence when it comes t…[Read more]

Just to echo the previous comments about financing studio apartments make sure you dont buy anything under 35 square metres unless you are prepared to come up with 30% deposit +.In relation to a studio apartment you may find that the mortgage insurer will not provide cover even though your lender may accept the security.Why not negotiate a 2nd…[Read more]

Yes i have done a load of Anz Hybrid deals but i also agree with Terry SGB have no problem in doing them.