JoelYes it can moved to the new property and is a lot easier if it is standalone.If it is only 5% of the purchase price then you could have paid the principal off in the next 2 years anyway so would be immaterial.

JoelThere are a variety of family guarantee style loans being offered at present but they all have 1 draw back for the parents.All lenders will require a first mortgage on the property and this will prevent your folks from doing anything themselves in the future.My preference is that they take the loan out on their property for 20% plus…[Read more]

I think if you approach the deal as a business deal and make sure that you dont loose a friend over something that may go wrong then it is fine.Personally i would like to see you both provide an equal deposit or alternatively if this is not the case buy as Tenants in common.Most lenders will take upto 80% of the rental income of the property into…[Read more]

Yes why not contact our own Chad Simmons who is Melbourne based and a regular contributor to the forum here.Chad and his US business partner are very active in assisting investors in the Texas area.

JennyEach application is treated on its own merits and it is difficult to make a sweeping statement without all of the facts i.e property location, size of and mix of each unit, income strength of the applicant etc etc. 

Just prey like mad that he does not settle on the settlement day and requests and extension. Terminate the Contract and sue for Specific Performance.Alternatively if the finance and building inspection dates have not gone do not offer an extension on either of these.

We have out lending company that offers both full doc and lodoc first and second mortgages if the property is in Qld.

The other issue is the lenght of the lease.Many lenders will not touch a property where the lease is greater than 2 years.If they have to take possession then they are unable to sell the property to an owner occupier.As Terry says dependant on the size of the unit you would be lucky to get 70-80%.

I am with Terry you have bucket loads of serviceability and some good equity on your PPOR.Borrowing should not be an issue structured correctly. 

Hi GiulioWhy dont you post a litle more information and we can give more of a accurate assessment.There is always a way it is just a matter of going through the numbers.

MikeCan you tell me how many propeties you currently have under management in the Brisbane area ?

The Bank will not allow separate loans in that respect of a joint title as they will be jointly and severally liable for the entire debt.They may each have a loan of half the total amount with the statements in their own individual name but would still be underlying responsible for the entire debt.

Hi CamDoesnt matter what structure you use with less than 1 years self employment you will not qualify for a traditional loan.In saying that with the equity you have a straight forward Nodoc loan should be easily achieveable. An alternative is to look at a higher LVR loan and use your BAS returns to demonstrate your income.

Hi StannersI cannot see a problem as this merely sounds like a regular Nodoc deal to me with no evidence required of your income details.As long as the post code is acceptable i think the deal is fairly standard.

You will not find 1.Both MI companies will not cover more than 4 units on the 1 Title. 

Guess it is horses for coursesA low rate is not the most important factor when mapping out a investment path and i think if it you look at investors with decent size portfolios very few of them use no frills type lenders. 

Very simple1) Gross Salary & Wages – $70,000 (most lenders work on net incomes)2) Gross Rent – $14,000 (Most lenders take between 70-80% of Gross rent)3) Add back negative gearing benefit on difference between Gross rent and Interest costs.

I dont necessarilly agree with your MB.As long as you can show you have sufficient funds to complete you should get a long term deposit bond.

In addition to Depreciation several lenders take 100% of rent into consideration on properties they are not financing and also use the charged rate rather than a sensitised rate of variable rate + 1.5 -2% margin.This 2 aspects can considerably increase your serviceability. 

I am with Terry purchasing it in your name makes no sense.If you are concerned about the ATO ruling over HDT why not consider a simple Unit Trust structure.