Hi NewgenWelcome to the forum.You have a fair amount of equity in the PPOR and if you borrow the equivalent amount on a new home the interest will not be Tax deductible. One consideration would be to look at selling you current PPOR into Trust and borrowing the full value of the home giving you approximately $130K deposit to put down on your new…[Read more]

Hi JohnNot so much attention to details just like to make sure that other forum member are adequately advised.

Hi WayneoFirstly welcome to the forum and I hope you enjoy your time with us.It is something we do for clients regularly so can certainy speak with experience.Personally i would look at 2 separate entities holding the properties you intend to buy, reno and sell on in a different structure to those that you are looking to retain long term.Just make…[Read more]

DaveSaw the derby game last week against Spurs when they missed a penalty in stopage time and the 1-1 draw against Bolton the week before. Both games they were a little unlucky.Must say though the Boleyn Ground needs dramatic renovation as seating is tight and squashed in. No comparison to the Emirates. 

Hi VitalThe fact that the property will eventually be you PPOR has no bearing on the fact whilst it is treated as investment property you are able to claim the appropriate Tax deductions on it in relation to the rent etc. 

Hi JanieIf the property is your current PPOR with a view to turning it into an IP later I would make sure that the loan is an interest only loan with a 100% offset account attached to it.Might cost a little more upfront in LMI premium with some lenders however over the long term it will be well worth it.

Hi JodieNodoc and Lodoc abbreviations refer to lending definations when it comes to income evidence.Nodoc = No documentary evidence of income required. You would merely sign a statement confirming you can afford to service the loan and subject to everything else you are away.Lodoc = Limited Documentary Evidence required. Usually the borrower is…[Read more]

As i said from the start it is a shared equity scheme with EFM being the product name Adelaide Bank are marketing it under.Yes i have used on many ocassions and as mentioned did the first deal in Australia for a forum member.The official launch was Feb 2007

Hi BardonYes went to the Chelsea V Everton game with Tim Cahill scoring in the 93 minute and spoiling the day.Also went to 10 other Premier League games and the Sevilla V Arsenal game as well as a couple of other Championship League games. My 11 year old had a ball.Hate to say no against Roman's men but think Arsenal under Arsene will be too…[Read more]

Sorry my friend i think it is you who are confused.EFM is the branded trademark Shared Equity Scheme that Adelaide Bank launched through a panel of mortgage managers in Feb of this year.It is exactly as i stated with the amount of upto 20% funded by Rismark Internation who have patented the product.The Bank does not contribute an amount of 20% to…[Read more]

MikeYou are correct with regards to the SIS legislation. September 2007 saw the resulting legislation receive Royal Assent and become law. Tax Laws Amendment (2007 Measures No. 4) Act 2007 inserted Section 67(4A) of the SIS Act which amends the borrowing restriction contained in the Act to allow superannuation funds to invest through an…[Read more]

Fair enough Anrobel probably not worth it on this one.I dont think you will find much written on the subject as it is something your mortgage broker / financial adviser will advise on.Not the sort of thing that is written down in book form.

Hi DaedalusSuch private lenders do this on a lodoc basis so we arrange a 90% lodoc deal for the client and then top up the balance with private funding.Hope this makes sence.

TessThe answer to this will depend on the conditions your lender has in its Mortgage Deed and the Letter of Offer.

Accessing super might be a quicker way to kick start a property investment portfolio than saving up a deposit = Good in theory but not as easy as it sounds as there are considerable legislative restrictions on accessing your Super.I totally agree about getting it out of the hands of an incompent fund manager. Can't remember the last year my SMSF…[Read more]

Hi ThomasThis will depend on the local council authority and the age of the property.The property will need to be surveyed and the application lodged to the local council who may approve it subject to conditions.Depending on the Building Act in your area you may find that you are not required to update the property i.e in Brisbane if the property…[Read more]

Hi JodieIf you ever want a sounding board in Brisbane feel free to give us a call.I have a few IP's to say the least and am always happy to answer any questions you might have on loans structuring etc

Hi MortyDon't want to burst the bubble on your idea but it doesnt work.As a Director of the Company or Trustee of the Trust you are obliged to disclose any liabilities you guarantee and I am sure if you do a search you will find that this topic has been bought up a number of times.If you wish to carry on purchasing properties and the Bank believe…[Read more]

Spoke to Chad earlier this morning after i got back from the UK.He is doing his own deals rather than offering them to investors and is doing very very well.

I am with Hieung regards to Property Management.My property manager was doing such a good job that i decided to buy the company and now own the Agency and the whole rent roll. If anyone wants a recommendation for a good agent in the Brissie are let me know.