Fireblade there is no need to sell the house and then go and buy another IP you can do it on the original PPOR.

It is that difficult but need need consideration as Stamp Duty is triggered. In saying this the SD can be added to the Cost Base and in most cases clients find within 1-2 years depending on how old the property is they have recovered…[Read more]

Hi Riss

Funny you mention this as it would be the most asked question i get from clients.

The simple answer is Yes / No.

Yes you are able to borrow money secured against your IP in order to repay the mortgage secured against your PPOR.
Regretfully the interest charged on this new loan will not be tax deductible as under the purpose test the…[Read more]

devo

The process you have indicated looks about right however most contracts have a few trigger dates which inlude any of the Special conditions within the contract as well as Building & Pest Inpsection & finance.

If you have already signed the contract it is too late to change the name on the purchase contract to a Trust so i assume that you…[Read more]

Yes i must admit i am intigued why you would require a loan that you wouldnt want the Bank to value.

Guess i can think of a few reasons but nor necessarily in your best interest.

Many lenders will go to 95% without a valuation and take the contract price if certain conditions are met.

As Simon mentioned more information is required to give an…[Read more]

May differ from State to State but in good old Qld there is no Stamp Duty payable in the issue of the units.

With regards to the redemption of units I athink you mean the Trust repays the debt then it depends on the vlaue of the asset however this is easily overcome and there would be no CGT.

In your example the Trust cannot buy a property and…[Read more]

I am happy to attend a lot of small group or 1 on 1 meetings if people want. Often easier to organise.

Let me know if you need me there.

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]

Pete

I know we are sorting out the next IP but don’t rush to start paying principal off your first one especially if you intend to purchase an PPOR down the track.

Set up a 100% offset account with your current lender linked to the first IP and that way you will pay less interest (effectively the Gross rate will be around 12.50% -not bad eh) but…[Read more]

Hi YBS

Congratulations on your first purchase which is often the hardest step to take.

Subject to serviceability and a little equity there is no reason why you cannot purchase an additional property right away.

There are certain lenders who specialise in 100% IP loans but in most cases you are required to come up with the costs of acquisition.…[Read more]

Hi John

Lodoc / Nodoc loans come in all different guises.

You can always have a lodoc / nodoc line of credit which gives you flexibility to come and go when you want to. Ideal for accessing equity and then paying it back redrawing on it etc. As long as the amounts drawn out are always for Investment purposes then the interest is deductible.

If…[Read more]

Hi Peter

Yes would be happy to attend any meeting we hold in Brissie and offer ideas and advice to fellow members.

If you guys organise a day and a time I can be there. Preferably not a Monday night.

Cheers

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

Hi Paul (dare to dream)

Many people get confused or simply do not understand what Loan Structuring involves. It is not a matter of running out any buying 4/5 properties and then realising that you have purchased them in the wrong name or wish that you had the loans set up correctly to be most Tax efficient and effective.

Each client i deal with…[Read more]

Firstly sorry to hear about situation.

I can sort of understand as i have kinda been there and done that but thats a different story.

Couple of things:
1) A Pty Ltd has Directors / Shareholders not beneficiaries although the respective Family Trust could hold the shares.
You mention that you were a Trustee of one of the Trusts Did the Company…[Read more]

Hi Heidi

Firstly welcome to the foum and congratulations on taking the first step into property investing.

I will sound like a broken record if you read any of my previous posts but of the things that is of prime importance when starting out is to ensure that you are structured correctly.

Too often i see clients who have gone out and purchased…[Read more]

Thanks so much Elka.

You know me I can’t stay away especially if it means helping people.

Kids are off to school and the wife is having her hair done ready for lunch so i figure i have about 4 hours left on the keyboard.

Thanks again.

Cheers

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

Ty

Good luck with your future employment and am I sorry to hear about your redundancy.

Very remiss of me in my earlier post.

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…[Read more]

Hi Picklesam (love the name by the way) have PMed you.

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.

Peter

What are you wanting to find out about Strata Titling ?

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.

Look i hate to contradict anyone on the forum but dont necessarily agree that without an ABN for 2 years you will not get finance.

If you have an ABN for 1 day you can qualify for finance to a level of 95% LVR and also many investment deals are done on lodoc basis.

I financed a $3M Comercial development last week with absolutely no income…[Read more]

It all depends on the terms of the management agreement.

We just obtain 75% for a forum client on a Sydney apartment which was 37 square metres.

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]

John

Firstly the problem is that with a lodoc loan > than 80% there is a limited market place of lenders.

85% is available at standard housing rates but when you get to 90 / 95% the choice is limited and the interest rate and charges start to climb.

Are you sure that you are unable to show sufficient serviceability to qualify for a full…[Read more]