There appears to have been a few responses to this question already but unfortunately a few inaccuracies:

1) As Terry as pointed out your MB may not be licenced to provide you with advice on SMSF unless he is a licenced financial planner.

Remember most Accountants are not Licenced to give advice in this field and can offer limited…[Read more]

There are many lenders that will do this to a 70% LVR as well with ABN for 1 day or Nodoc to 80%.

Tammy’s partner has been self employed for more than 2 years so length of employment is not an issue.

Easiest and most competive way is to make a Tammy a borrower and do it full doc to 90% LVR.

Cheers

Richard Taylor
Residential & Commercial…[Read more]

Trump Jnr i think is missing the point.

Certainly you can borrow against the increased equity and use the funds raised to act as deposit and costs for further IP’s however the fact of how you borrow the funds has little bearing on whether the properties will be Positvely geared.

This will be determined by the quality of the investment you will…[Read more]

Dave

There are many variations on the Family Guarantee style loan but in essence the loan is for 100% of the purchase price and the Guarantee provided by your parents would be limited to the difference between the total loan amount and 80% of purchase price (To allow for borrowing of your costs)

All that is required is that the Guarantor must…[Read more]

More or less.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
Looking for life cover – We Guarantee to beat any quote you have in writing.

Each lender and LMI company has its own policy on refunds.

To avoid early repayment penalties you would be better off to increase the loan on the same security and then do a separate stand alone deal on the new IP with the funds raises as deposit.

Cheers

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

Jen

I do it all the time both from my LOC and also my own funds either in cash or through my SMSF.

As long as you comply with all the credit documentation you will not have a problem.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
Looking…[Read more]

Hi Karen

Assume you have your own PPOR which has $200K of equity in it.
You are wanting to purchase an IP for $200K and you go back to your Bank to borrow the entire amount plus sufficient funds to cover acquisition costs.

Normally your Bank would make an advance for the full amount in the one loan and cross collateralise the 2 securities.

This…[Read more]

Dave

Dependant on the lender and the LMI company if you refinance once the property has gone up Yes you may get a refund on the LMI however in saying this most lenders now charge an early repayment fee if you discharge within the first couple of years.

Secondly yes you will only pay LMI on the difference and will not be charged the full amount…[Read more]

I totally agree with V8 many FP’s wouldnt even own 10 properties and certainly would not recommend property in their portfolio.

Others of course own a few more than 10 and certainly recommend property where they may personally earn zippo.

It is horses for courses.

Cheers

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

Thanks David

Despite what certain posters believe i think forums like these are an excellent place for people to share ideas and provide advice and assistance to others.

It is not all about how much business you can get for yourself but obviously if you can help a fellow investor then you do so.

It is good to have you on board and good luck…[Read more]

There are 1 or two lenders who have waived their probationary requirements and will lend once you have confirmation of employment.

As Terry states 1 day is sufficient as long as you have continuous employment previously.

Other alternative is a PAYG nodoc loan.

Cheers

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

Hi Tammy

Will have some details for you tomorrow.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi Katie

Thats good news i will hear from you soon.

If the truth be known i was embarrased to be English at times during the Ashes and in the Western suburbs there are no many rocks to climb under.

But heh we are back and the World Cup is only weeks away – whooooo

Cheers

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

Terry

Passing examinations is one thing but getting a Licensee to let you work under their banner is another.

Personally anyone who has only done the first 4 subjects in FP will find life hard. Compliance is as big an issue as anything.

Cheers

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

Chris

The last development deal you put to me you had negotiated 1% below SVR yourself wouldnt have thought any MB would have got it down to that for you especially on a 80% GR basis.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
Looking for…[Read more]

Paul

Sorry i think you misunderstood my thread.

I have no intension or need to want to promote my Company or my services i was replying to your post about spending money to attend seminars.

I merely was stating that i managed to build up a personal portfolio of IP’s without ever attending a paid seminar and dont think that new investors need to…[Read more]

Sorry Paul I hate to say i totally disagree.

IMHO Wealth Creation seminars are just for one thing and one thing only and that is to make the presenters a fortune.

Whilst i dont cast this blanket over every seminar doing the circuit i believe in essence you can spend your money a lot better in doing research and due diligence and talking to…[Read more]

Heh girls exactly and at such a tender age as well

I might not make 44 at this rate.

Cheers

Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
richard@tayloredfinancialsolutions.com.au
Looking for life cover – We Guarantee to beat any quote you have in writing.

Hi Peter

Whilst i agree with Michael that the criteia is a little stricter that your normal residential home loan it all depends on how small you are going to start.

If you are looking at a building a duplex or similar or buying a house, subdividing and building another on the subdivided block then all this is possible with little deposit…[Read more]