Hi Kellie

Hate to say is happening more and more with lenders these days.

One major lender has a credit policy that if you own 10+ properties (geared or not) they will not consider any loan.

Hard to believe I would not meet their credit policy merely on number of properties owned.

Half the trick is to structure your portfolio in such a manner…[Read more]

Hi Kellie

Sure can you shoot an email so I can reply.

It is a PDF doc and cannot send it by private message.

Cheers

Yours in Finance

Maree with Corey but in Tigs situation he has no non deductible debt and has a good rental cash flow from his other properties.

Cheers

Yours in Finance

No worries Shaun all sent.

Cheers

Yours in Finance

The principal reduction would be considered as enforced savings.

Cheers

Yours in Finance

Hi Mark

Sorry that is not quite true.

There is very little difference in depreciation and capital allowance claims between buying a new property and one that is a year old.

In regards to you and your firms personal commitment do you want to give the forum members a quick snap shot of the properties you have personally purchased and own. Mine…[Read more]

Hi Mark

Great first post.

We are Buyers Agents based in Brisbane for the last 18 years and both myself and my fellow Director have multi million dollar properties throughout the City.

We have dozens of forum clients we act for but don’t recommend new properties.

Can you tell me and the forum why OTP in Brisbane would be the way to go ?

Also…[Read more]

Hi Harv

It will all depend on the loan to valuation. At 80% the cash flow should be sufficient to meet your outgoings.

Personally i wouldn’t buy in Broadbeach but everyone to their own.

We try and match our BA clients to properties that suit their long term goals whether it be cash flow / capital gain or a combination of both.

In relation to a…[Read more]

Hi Harv

Wouldn’t have a problem with St Lucia in fact own a few properties there myself and only live around the corner.

Personally I wouldn’t buy on the Gold Coast (Still own a waterfront home where we lived in the 90’s) but that is not to say there are some good bargains at the moment.

Yes I think parts of NSW, VIC & QLD will see some form of…[Read more]

Ok still would have thought with an 80k deposit and a P & I repayment the property would be cash flow positive at current rates of interest so not sure why the Title would be in your name.

Cheers

Yours in Finance

Ok all noted.

Why wouldn’t you buy the IP in your wife’s name or in Trust given that you intend to pay down the loan as quickly as possible ?

An IP with 80K used as deposit is likely to positively geared from day 1 so income v expenditure will only increase over time as the debt gets smaller.

Cheers

Yours in Finance

Hi crazyjoe

Look at the prime goals and in order they would be pay off PPOR whilst at the same time increase your net wealth thru IP acquisition.

Down the track increase IP portfolio and create a healthy rental stream.

Feel free to drop you an email and i will send you my API interview on how i built my property portfolio and enjoy a more than…[Read more]

Hi tig

On the basis you are fully aware of the pros and cons of not crossing it all boils down to comfort level.

Not sure why you would use the 80K gift to put down as deposit on an IP in your sole name but guess you have your reasons.

Why would you not use the funds to pay down the PPOR by 80k and then borrow the 80K using your existing IP’s…[Read more]

Hi Harv

Welcome to the forum and I hope you enjoy your time with us.

I have lived in Brisbane for 20 years and have most of my properties here.

You don’t mention what the problem is and why the delay in settling. In most cases your Mortgage Broker should have a bit if clout in regards to escalating the approval or loan documents.

As long as…[Read more]

In Qld having numerous Trust will not get you around the Land Tax threshold as your hold in will be aggregated where the Trustees are related.

We hold all of our Brisbane properties via 5 Separate Discretionary Trusts however this has nothing to go with trying to reduce the Land Tax liability.

Agree with most if your other conclusions however…[Read more]

Hi Asela

If it is the CLUB i am thinking of avoid them like the plague.

When i was full time developing in Brisbane they used to sell a lot of our properties.

We used to tell them the price we wanted and also showed them a copy of a valuation. In most cases they used to sell them way above the valuation in order to increase their commission…[Read more]

Hi Barry

Your Accountant would need to be Licensed to provide Credit advice and most are not.

A Mortgage Broker is required to hold such qualifications.

A 3 unit block is not necessarily the sort of deal you would do as a newbie and many lender will not lend on multi unit dwellings.

Of course still many out there that will do 3 units as a…[Read more]

The 2 /3 deals we got in from them in Brisbane where down in Browns Plains / Jimboomba.

They were standalone freehold houses on an estate and where told the area was owner occupied.

When i called a couple of local agents they told me the whole street had been sold to investors and the rental demand was non existant.

Cheers

Yours in Finance

Unfortunately the Westpac product is particularly poor when it comes to Security Guarantee loans.

Cheers

Yours in Finance

Hi Tysmeister

Firstly welcome to the forum and hope you enjoy your time with us.

I certainly would NOT use your own capital to construct an investment dwelling as when you come to buy your own PPOR down the track the interest will not be deductible yet the rent you will receive on the new investment property will be added to your Taxable…[Read more]