Hi Scott No MatesSorry you quiet wrong with a couple of your Statements 1) Pos, super funds can't borrow they must invest so as not to put the funds at risk.   As i mentioned in my earlier post legislation changed with Senate approval to allow SMSF to borrow in their own name.2)  Generally speaking, you cannot put residential property into the…[Read more]

I agree with John on this one and a contractor arrangment maybe a lot easier than being licensed yourself.There are other considerations depending on what State you are in but surely receiving a percentage of the commission from your broker for introducing the loan will avoid any potential  "conflict of interest" from your buyers and the…[Read more]

Hi AnrobelI do around 1 a week of these type of loan for clients at the moment working closely with a large firm of Accountants.Terry as always i bang on in relation to the possible Stamp Duty and CGT costs however CGT will only be applicable on the actual capital gain. If i read you post correctly the market is relatively flat and the capital…[Read more]

Hi WezwazThink you are slightly confused with your post.I assume you are referring to Adelaide Bank's Shared Equity scheme in conjuction with Rismark.It is very much a horses for courses product and i have done a fair few now. In fact one of the forum members here was the first client over the line with the new product earlier this year so he…[Read more]

I agree with Duckster on this one a 100% Offset A/c makes it so much more simplier.I have many clients who lodge their BAS quarterly and transfer their GST liability from their Business A/c to their Offset Account and then transfer it back when the GST needs to be reapid. With lump sums sitting in the Offset Account for 90 days or so at a time…[Read more]

I agree with Bardon and selling the property into Trust is certainly worth exploring.It is difficult to make coment without the actual numbers involved but could certainly give you a leg up when it coes to buying your own property.I am not of any State where you do not have to pay Stamp Duty as it is considered to be a sale but do the exercise on…[Read more]

I have over $1 million dollars out on 2nd mortgages and caveat loans from my sellf managed super fund. I consider each matter on a case by case basis and am always happy to consider proposals from forum members. Just email the details and I can let you know whether I am interested.

Hi EvadYes try and avoid cross collateralising the 2 loans. Your existing lender will push for this but it is the time to go elsewhere. As has been mentioned try and raise the deposit and acquisition costs against the valuer of your existing security and then use these funds for the first IP.Whilst 100% finance is available for an IP purchase if…[Read more]

Hi MortyPlease note that your Accountant is not qualified to write up a Financial Plan for you as this is the domain of the Financial Planning industry and can only be done by a Licensed Financial Planner.I guess it all depends on what you want if you are looking for loan structuring advice and know the sort of property that you want to purchase…[Read more]

Prices vary and your estimate is about right. We set up a standard discretionary family trust for clients for around $600. The cost is Tax Deductible and includes settinh up your ABN and TFN.

No worries Jessica.As i mentioned tell her i referred you and she will either close the door or give you the deal of the century.Only kidding she is a true wonder but dont tell her i told you.

Feel free to post or email me the details and would be happy to coment for you.

Why not try Leonie Dixon at CSM on the Southside.Leonie has been my Solicitor for the last 13 years and has completed over 200 transactions for me during that time and the same number again for clients of mine from the forum.Give her a call on 07 3807 9521. This is her direct number so if she doesnt answer first time she is on the other phone or…[Read more]

Other alternative is to switch lenders to someone who accepts the valuer you wish to do the valuation.Work backwards in this case. First find the valuer and then ask him whose panel he is on for lending.Your broker should do this for you fairly easily.

I agree with the other 2 comments.The severity of the credit blemish will detemine the LVR and the interest rate.Something small you should still be able to get 90% LVR at standard rate. I have just done a 95% LVR with 2 paid defaults at standard rates but they were small defaults.

If you like the property and it is your PPOR then there is no CGT if you sell it now or within the next 6 years so why not retain it borrow against it and purchase the new surfers paradise unit.Guess only issue is if their is little loan against the property and it will mean that the interest on your new house will not be tax deductible then you…[Read more]

Hi KoWhen i first started buying + cash flow properties some 13 years ago I had the same concerns as you are having but what you have to remember is to trust your instinct and due diligence> If you have carried ths our correctly ten you will not have to any problems along the way.Ask yourself what is the open market rent for the property if the…[Read more]

Hi KoWhen i first started buying + cash flow properties some 13 years ago I had the same concerns as you are having but what you have to remember is to trust your instinct and due diligence> If you have carried ths our correctly ten you will not have to any problems along the way.Ask yourself what is the open market rent for the property if the…[Read more]

Hi Hgwell,The comment about lenders assessing your credit cards as maxed out even though you pay them off each month is not quiet correct. Some assess your liability as a percentage of the credit limit some will ignore the liability if you can show 3 months of nil balance statements.With regards to the question in hand one other consideration…[Read more]

Hi JuderYes most lenders will take the rent on the property you are purchasing into consideration when accessing serviceability on an investment property. The percentage considered will vary from lender to lender as will the evidence they require to consider it. Some will only take a valid lease others want 6 months managing agents statements and…[Read more]