There are too many unknowns to provide you with a structured response but in the main lenders will want to see a track record in regards to the Tax Returns before approving on a full doc basis.

In saying that it also depends on your previous occupation, PAYG income etc.

Bottom line is just because you can get finance over the line can you afford…[Read more]

Actually looked at a 6 pack of units there in 2013 but the Vendor wouldn’t budge on price.

They are still for sale today and I cannot see why you would want to invest in such a town as very little drivers in regards to growth or rent appreciation.

I think there are many more regional towns you could look at.

Cheers

Yours in Finance

Yep all sounds doable of you can find:

1) A lender to give you a personal loan for the deposit.

2) A lender who will allow you to draw cash on a credit card to pay off the personal loan and then allow you to have an interest free period on the card.

Course after that you need to ensure you can pay off the card or substitute the security as it…[Read more]

Contribution limits are aged based:

Concessional contributions for someone aged 48 or under = $30,000

Non concessional contributions for this financial year are 180K or 540K over a 3 year period.

A family member or related party is unable to rent the property.

The ATO would rely largely on the Trustees / Members doing the right thing and…[Read more]

Hi Bill

Ok let us work thru the relevant steps.

1) There is nothing to stop you establishing your new SMSF and have your current employer pay your compulsory employer contributions into the new fund.

2) There is nothing to stop you making a non deductible contribution of 100K into the fund (assuming you have not exceeded your limit in this…[Read more]

Yes have a number of clients who had past dealings with a variety of N Birch companies.

As Cory suggested do a search or two on PI.com and also the other popular forum and i think you find more than a few comments.

You can form your own opinion.

Cheers

Yours in Finance

Liana not sure what your Broker is on but send some my way.

LMI on a 88% loan to valuation with a loan amount between 300-600K would only be 1.3% of the loan amount so even on a loan of 500K would be $6500 which could be capitalised (And of course is tax deductible) so a little different to 20K.

Cheers

Yours in Finance

I employ my own Property Manager and have done for some 14 years.

The lady concerned works solely for me on my portfolio and knows exactly what i require from her.

She also does all of our Property management & Vendor Finance statements.

For anyone building up their portfolio i would recommend you utilise the services of a property manager and…[Read more]

Charlie you certainly won’t be getting your own FP License but be operating as an Authorised Representative of Licensee.

Most small FP businesses operate this way due to the cost and compliance involved in having their own License.

Cheers

Yours in Finance

Away from all of that good luck in getting finance at anything over around 50% lvr (if you were lucky).

Cheers

Yours in Finance

Bank West pre-approvals are worth zippo but more importantly at a 95% lvr you wont be refinancing so i think i would ignore willbells comments about changing Banks in the future.

Cheers

Yours in Finance

Hi Annie

Hate to say doesn’t sound like your peeps having been giving you proper advice if you have 6 IP’s and still lack cash flow.

3 Units on a single title can be done but limit lenders especially at the higher lvr’s.

Cheers

Yours in Finance

Although in saying that wont find too many FP License holders be prepared to allow you to receive ongoing trail commission if you don’t hold a FP License.

Cheers

Yours in Finance

They used to in the good old days now there are other reasons why you would set up multiple Trusts.

Cheers

Yours in Finance

There are too many variables to make an answer sensible and of course your risk profile and other financial objectives make for a totally separate topic of conversation.

In simple terms Units tend to have slightly higher expenses due to the body corporate element and tend to grow at a lesser level having a smaller land content. In saying this the…[Read more]

Hi Alex

Regretfully Nodoc loans are a thing of the past in Australia post NCCP.

If are buying in a Company name then the loan is considered non coded so there is less requirement for the lender to ask for the traditional income evidence however there is still something known as “responsible lending”.

Even as a Short Term Business lender we look…[Read more]

Hi Alex

No with full or part time employment there is no need for 2 Year Tax Returns.

Only reason we would need these if we are trying to take non payg income into consideration.

Cheers

Yours in Finance

Hi Alexander

Firstly welcome to the forum and indeed the Country when you arrive.

Regretfully even with the income you currently have you wont be able to use this income in support of an application for finance with evidence of 2 Years Tax Returns.

Once you arrive and have full / part time employment this income and the potential rental income…[Read more]

Regretfully ‘solely relying on information provided by the client’ is insufficient in the eyes of ASIC when it involves Mortgage Broking.

You cannot merely say oh the client never told me so I didn’t ask questions.

Cheers

Yours in Finance

I am with knightm there is a point in life where doing the right thing by the client is better than trying to make the maximum dollar out of every client.

In the 26 years i have been running businesses i have never formally advertised and like an earlier poster stated referral business in my opinion is the best form of business.

Back to the…[Read more]