MC

Congratulations on your first purchase and I am sure you will be able to purchase your next IP sooner than you think.

I am not going to recommend any areas in Brissie as I am slightly biased but would make a comment on your loan structure.

From your post you appear to be making additional loan repayments into your mortgage and this is not…[Read more]

NE

It is amazing how many times we get asked the same question from clients who want to puchase a PPOR only want to live there for a set period of years and then want to move elsewhere whilst retaining their current property.

The way you would structure you loan is exactly as you have suggested an interest only loan with a 100% offset account…[Read more]

As the property has the one title the loan application will have to be in the name of the Unit Trust rather than the individuals.

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…[Read more]

Strawberry

A block of 4 units maybe considered as a residential loan by a few lenders however you would not get mortgage insurance on such a property so will limited to a 80% lend.

One consideration would be to buy the property in a Unit Trust arrangement with each unit holder owning 2 of the units once the property has been strata titled. This…[Read more]

Yes ideally you would keep them as separate loans.

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

Without the full knowledge of your own position it is diffcult to advise you accurately but yes i prefer to have the 2 loans on each security total separate and not crossed.

Depending on equity amounts and the LVR this is not always possible but certainly if you wish to go forward with your investing is almost a MUST.

Cheers

Richard…[Read more]

Hi Dave

Considering the Standard Housing rate is 8.07% i thik you would be looking at more like 7.35 – 7.50%.

Just make sure you dont let the lender X collaralise those loans. If you have a loan of $500 spread over 2 properties you need to make sure you structure it correctly.

Cheers

Richard Taylor
Residential & Commercial Finance…[Read more]

Ben

You will go far my boy with the right advice.

Excellent post.

Remember the Trust idea is only if you have substantial equity tied up in a property (usually in your PPOR) and want to release it by making a non tax deductible loan fully tax deductible.

Cheers

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

Mopsy

Sounds to me like a little bit of sneaky cross collaterislising going on here with an experienced Personal Banker.

I would be freeing them up as soon as possible and then at least you can start a fresh. Remember the market is a lot bigger these days and many clients have several millions of borrowing spread over a few…[Read more]

Dave

PPOR – Principal place of residence (your own home)

Many of the online companies that you can buy a shelf HDT from do not have any individual clauses inside their Trust Deed and you get the everyday bog standard Deed.

For another $400 you can get a tailored product (sorry not supposed to be pun) prepared by a proper Accountant.

I know…[Read more]

John

Above 85% you will be unable to get a Lodoc / nodoc with an offset account or LOC.

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 Dave

It is a good question you raise and the simple answer is Yes / No.

Many lenders have a real problem especially when it comes to HDT’s however seem more comfortable with a DT.

Thankfully the market is a big place and we can cater for full doc / lodoc and no doc loans to Trusts at extremely competitive rates and…[Read more]

Adrian

There are many ways to do this so it all depends on what you are going to be doing.

Is it going to be an one off or ongoing relationship. ?
Are you going to both putting in equal amounts of capital and have equal shares in each property.
Is your partner being paid a wage out of his ahre or merely a % of the profit.

Other consideration is…[Read more]

Hi Tina

Yes definately think you should check with a local Town Planner.

Not sure exactly where the property is but if it is in Brissie then 20 m frontage is the norm but i have done them with only 10 M sort of thin and narrow.

A TP is the way to go.

Cheers

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

Terry is right too often lenders are keen to have both of on the title when there is absolutely no need for this.

Consider a HDT structure so you have the best of both worlds in both asset protection and taxable benefits. One consideration is the date of the contract as the HDT would need to be dated prior to this.

Also before you sign on the…[Read more]

orica

I am with Simon whatever you do do not rely on Homepath to settle a transaction for you within 4-6 weeks.

Their customer service is a disagrace and trying to get through to them is a nightmare not only pre but also post settlement.

The no frills products that they offer are just that with no frills service either.

Remember in most States…[Read more]

Hi Ben

Firstly welcome to the forum.

Don’t put yourself down too much you have some good equity in a couple of properties and you income isnt bad at all.

With the equity you have i cannot see too much of a problem in purchasing a home in Qld (And i must admit i dont blame you for wanting to buy in the Sunshine State) for around $300,000.

On…[Read more]

Hi Ben

Firstly welcome to the forum.

Don’t put yourself down too much you have some good equity in a couple of properties and you income isnt bad at all.

With the equity you have i cannot see too much of a problem in purchasing a home in Qld (And i must admit i dont blame you for wanting to buy in the Sunshine State) for around $300,000.

On…[Read more]

For a normal development GST is calculated using the Margin Scheme. The legislation relating to the Margin Scheme was amended in 2005.

In broad terms, the buyer and seller have to agree in writing to apply the margin scheme.

GST is calculated on the margin between the Gross Sale Price and the Gross Purchase Price. I.e Property purchased for…[Read more]

Hi Peter

When i get they rest of the information back from you I will show you how you can finance numerous investment properties.

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…[Read more]