Good question

You will need to become PS146 compliant which involves passing 4 of the initial exams and then 4 additional subjects over a 2/3 year period.

You will also need to have a minimum of 5 years experience in the industry as passing the educational part is only one section of becoming licensed.

Due to the costs involved with compliance…[Read more]

Yes a few lenders will finance such a property dependant on:

1) Size of the property
2) The type of management agreement in place.

i.e Does the property have to be placed in the management pool.

Dependant on the above information will determine what LVR you will get.

Cheers

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

Yes it has its downsides however the Depreciation and Building Write off will be at a premium.

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 Bloach

Yes you certainly can purchase a property as a non resident and the attached website link may answer a few more questions:

http://www.firb.gov.au/content/faq.asp

If you are requiring financing for the purchase then you will be limited to 80% LVR.

Cheers

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

A LOC can be taken to 90 – 95% LVR of the property value and would sit behind your other mortgage if you have one.

Your LOC can be used to used to fund several properties subject to the avaialble equity you have in the LOC.

Cheers

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

Well if you are thinking about doing that you certainly would not borrow 80% you would borrow 95% and look to place the surplus funds in an offset account.

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…[Read more]

Ok Invest

Point taken but make sure it is structured correctly so that you can borrow again for an IP in the future.

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.

Also why would you borrow only 80% of the purchase price unless you have no home loan. If you do retain the funds and borrow 100% on the IP.

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…[Read more]

The older unit will not have any Building Write off !!

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.

Dave

A LOC will need to be secured against a property however the interest rate will vary but often around the same as a standard term loan.

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…[Read more]

Hi Bruham

Without more information it is difficult to assess the product but what i would say is that Macquarie being a securitised lender has relatively hefty early repayment fees when you discharge the loan.

Mind you if you sell the property within a 12 month period your Mortgage Broker will have all of the commission you had clawed back so he…[Read more]

Thanks Simon.

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 Paul

Yes it is a simple formula:

1) 2nd mortgage 20% then they take 40% of the sale profits.
2) 2nd mortgage 15% then they take 30% of the sale profits.
3) 2nd mortgage 10% then they take 20% of the sale profits.

There is no time frame on when the equity is take.

Cheers

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

Baldy

Must admit i havent read Steve’s book so can’t comment on the contents of Page 154.

What i would say is that i think they maybe both talking about different types of Trusts.

Dale refers to a HDT where the property is held in the name of the HDT and the unit holders borrow the funds to purchase units within the Trust.

There is much…[Read more]

Hi Will

The answer to this qeustion depends largely on what the ise of the property will be for.

If it is a home for her personal use and will be a Principal place of residence then you would structure it differently that you would if it was an investment property.

For an IP you may use a Unit Trust which gives you flexibilty however you may…[Read more]

Hi Brian & Loretta

I am based in Chapel Hill but have many clients in Ipswich.

Be happy to catch up for a chat anytime. I rather an active property investor myself.

Cheers

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

JT

He is sort of right.

Yes many lenders offer sudo offset accounts within the mortgage loan itself and Yes if used with an IP loan can cause all sorts of tax issues with regards to interest deductibilty.

There are other reason why you also use an offset account but make sure that the one you choose is totally separate and is 100% offset rather…[Read more]

Dave

No you may have misread or i may have miss typed.

The 20% is not coming from your Super Fund but a large Industry Super Fund that is investing in 2nd mortgages.

You provide nothing other than the acquisition costs and this can come from your FHOG.

Cheers

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

Dave

To avoid having the loans X collaralised you would normally set up a LOC to drawn down deposits and acquisition costs and then structure the IP loans as stand alone deals.

Many lenders will now lend 95-100% on an IP anyway which means you only need to come up with the acquisition and loan costs.

Cheers

Richard Taylor
Residential &…[Read more]

Jazz

Yes you can go 60/20 but i guess i would ask why you would want to give someone a greater share of the equity in your home than you have to. Maybe i am missing something.

No both loans would need to be repaid once the property is sold or you refinance.

Cheers

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