You real estate agent is wrong.You can certainly sell the property prior to the duplex being strata titled albeit you cannot use a standard REIQ style contract.After the property is strata titled you then need to lodge the approved plan of subdivision into the Titles Office which will take a few weeks to get separate title numbers.If you have not…[Read more]

As has been mentioned in one of the other forums the loans cannot at this stage be used for Investment purposes.

Many lenders will not lend 100% + in certain post code areas. The 100% + lending in limited to restricted suburbs.

Firstly at under $100K you may find that the post code may prove an issue but assuming that is not the case then you would need to cover the acquisition costs i.e stamp duty, mortgage registration etc etc in the State you are refering to.Then in most cases LMI is deducted from the loan which is another cost.Whilst a 106% Investor Loan is available…[Read more]

Not a matter of what the land is worth but how much it will cost to get a Builder to come and build on it.Some of my clients are quoting anything upto $1600 / Sq M for a standard box.

Depending on the wording within the installment contract the contract is terminated and the deposit and all payments along the way are forfeited.

If the Agent sells the properties for you then in Qld anyway a Developers License is not required.I am slightly lost as to what you are trying to achieve. Whether the property is held in a "Developers Name" (Not exactly sure what you mean there) or your own personal name ATF FT the profits will still be considered as trading profit and no CGT…[Read more]

Certainly when they were first offered in the UK by many mainstream lenders they did not drive up house prices.That was some 20+ years ago and over the longer term seem to have had little impact on home loan affordability.

SteveWe have had this conversation many many times. I agree a lot of people type before they think.Certainly not for everybody but it is funny how people said that when the lodoc loan came out and now look at the popularity, same with 100% loans (terrible i hear you say if you cant save a deposit you dont deserve to be a home owner).The SEL or EFM…[Read more]

The interest rate would be the same as I am not aware of too many lenders that charge a higher rate for an IO loan over a P & I loan. The rate is not the issue the way in which the loan structured is probably more of a consideration.Why not post a bot more information and we can provide you with a clearer answer.

At present thay are not available for investment properties and only available for owner occupiers.I am told that they investor facility will be available within the year.

Just watch Wizard the product is quiet what it seems and the establishment costs are high.If you are looking to build up a portfolio of IP's then you need to think carefull about financing from day 1.From my recollection they have a min loan of $50K on most products so this may limit you if you are looking at buying in regional areas. Ask them do…[Read more]

Hi thereNo in Qld you are still entitled to receive the FHOG if you have purchased a property as investment and never resided in that property and then purchase a property for your own occupation. I am assuming all other FHOG criteria will be met.Only thing to consider in doing this is that you will miss out on the Stamp duty concession so will…[Read more]

EznFirstly if you are purchasing land and developing this in the course of business you will not receive any CGT concession as the profit will all be treated as Trading Income and subsequently Taxed at 30% being the Company Tax rate. The factthat you don't draw down the funds from your investor has no bearing on the matter.From your reference to…[Read more]

Why not contact Phil at Vendor Finance Homes he has more clients than he knows what to do with.

Neither of these need to be local to you just able to write business within the State.I have many many WA clients but operate from Brisbane in the East Coast.This day and age  with technology distance is not the barrier it used to be.

Yes in Qld the Transfer document and the Contract must reflect that the Trust is purchasing the property.

StarflyNice to hear you wanting to help your mother. I think many of us forget what our parents do for us.Only problem i think you will find is the size of the unit at 30 square metres. Most lenders will want a minimum of 40 Square Metres and the 2 main mortgage insurers will struggle.Their are a couple of lenders who will go down to 25 SQ M but…[Read more]

ColinI think it is the new format of the forum.You wanna see you last post with all the ///????111???$$$$ on it lol

Yes i have and they are an excellent firm to deal with.Say hi to Pual and Julie from me.