Devo

Only you knwo the area so I won’t comment there.

The figures appear ok and If you can do the work yourself saving $$$ then you will certainly add value.

To avoid a potential rate rise why not look at a fixed rate especially if you still have a PPOR loan. Assume you partner is not working so assume you will buy it in your name solely or in…[Read more]

Nathan

Why don’t you consider a shared equity loan whereby you can live in a house with a purchase price of say $400K yet only repay the loan on say $300K.

This will give you access to additional monthly income which you can use to start investing. The loan would need to be for a PPOR and you would require a 5% deposit but you would only make…[Read more]

Might be better off posting this is one of the other forums. Maybe General Investing.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

Hi Phil

As Marc has mentioned why would you go to the expense of selling (incurring agents fees) and then incur stamp duty again by buying just to try and get something that is going to give you positive cash flow.

If you think you own PPOR wil increase in value over the years then by all means rent it out and you go and find somewhere to…[Read more]

Hi RP

It doesnt matter what the security you offer to raise the funds against as long as the purpose was to buy an investment or income producing producing property it will be tax deductible.

The reason why you look to split your loan rather than Cross collaralise the securities is to avoid potential problems in the future.

Dependant on the…[Read more]

Stu

Couple of options:

1) To avoid LMI on an IP purchase then you will normally require 20% plus costs. On a $300K property this would equate to somewhere in the region of $75 – $78K.

If you accepted the loan would be mortgage insured then you may get away with a lot less. Some lenders will lend 100% on IP’s you still need to come up with the…[Read more]

Hi Dee

Dont get me wrong i throughly concur with the 100% offset principal and many of my client split their loans so they can have a portion of fixed and variable linked to the an offset account.

I guess i was just commenting that i think Colonial have one motive in life and that is to be as unhelpfull as they can to clients and ensure that…[Read more]

Eddie

You dont mention whether the property is a PPOR or IP but clearly if it is your PPOR you would presumably merely be selling one to buy another with all the associates costs, fees and stamp duties.

I would argue that if you sell you will actually come out with less cash in your hand as you could refinance to 95% if you wanted to and i am…[Read more]

Celeste is correct the ATO wording is “Substantial Renovation” but insaying that if Bren is a registered Builder it will make not much difference.

We have a company that buys and renovates blocks of units and obtain a private ruling from the ATO on just this.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial…[Read more]

Alistair is a regular contributor to the forum so if you need someone in the immediate area take him up on offer for a chat.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

Dee your MB must be a glutton for punishement if he has placed the loan with Colonial.

Post sales service si not one of their strong points unless of course you try and move to a better deal and then they want to be your friend all of a sudden and not let you go.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial…[Read more]

Empty that is the problem.

Once you have the first IP X ed you cannot buy again without uncrossing or just continue along the way.

it is the first structure that sets the scene for the rest of your investing days.

If you only have the 1 IP then certainly reconfigure the structure to ensure that it is not crossed but whatever you do do not leave…[Read more]

First thing you should do is apply for an ABN and that will at least open up the finance choices down the track.

As an expat you could get 95% LVR so you might buy a couple of properties now and have them up your sleeve when you return.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720…[Read more]

If the loans are cross collaralised then there is little you can do as the lender will not released funds until he gets title to the property.

If you have arranged them correctly as stand alone deals then merely draw down one of the loan prior to settlement of the other and you wil be fine.

Cheers

Richard Taylor
Residential & Commercial Finance…[Read more]

GR = Gross Realisation or end valuations

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

Cyber

As a guide line I would suggest as follows:

1) This wil depend on the requirement of the Local Council Authority and what applications you need to lodge.

You will be up for your surveyors and Town planners costs and then the Council fees and contributions.

2) All depends on the size and whether they are single or double storey. For…[Read more]

Wonderful i guess if you live in sunny Richmond but not much in good old Australia mate.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

Julie seriously with 4 children you should really be looking into a Trust structure.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
New Shared Equity scheme has arrived – Email us for details.

Freeman – Yes of course it is for all members young and old and everyone welcomes debate and opinions.

It is just frusterating when someone posts something that is clearly incorrect and potentially damaging to those who read.

Financing your IP and PPOR is a big decision and getting it wrong can be costly.

You obviously have no idea who I am and…[Read more]

Freeman

Are you serious when you state that you be worried if the lender did not have insurance.

The Company you are referrring to securitises all of its loans and is merely a manager or orginator of those funds.

A lender can raise funds by either receiving retail deposits such as the major banks or it can package up its loans and sell them off…[Read more]