Agree with Corey use an experienced Broker who has been there and done it themselves.

Certainly would never agree with not disclosing something to a lender or “bending the truth” as this in turn is Mortgage Fraud and has brings with it severe penalties.

I cannot see why you would use a Broker for your 12 pack development when they own 3…[Read more]

Hi Tommy

First welcome to the forum and I hope you enjoy your time with us.

Certainly don’t buy the property in the name of a Pty Ltd Company as you will loose the CGT concession.

Being your first purchase you probably want to look at buying the property in your own personal name especially if the property is negatively geared.

Down the track…[Read more]

Course only thing I would assume us your Broker has advised you it is likely the valuation will be discounted by the valuers estimate of the furniture.

Sure he / she has factored that in.

You will only borrow against purchase price / valuation whichever is the lower so you end up paying for the furniture somewhere along the line.

Cheers

Yours…[Read more]

Hi Peter

I am assuming your Broker has merely carried out a modelled estimate of the property to ascertain the value.

With knowledge of the property or where the property is located it is difficult to comment further.

Might leave your current Broker to provide you with such advice.

Cheers

Yours in Finance

Jaxon

Ok here goes:

1) I am assuming you legally own the property know and that the Register of Ownership reflects this. If this is the case then there is nothing to stop you asking the Body Corporate for a copy of such documents but they will be entitled to charge you for such copies in accordance with the Body Corporate agreement.

2) In…[Read more]

Hi Peter

Must admit I am a lover of blocks of units (at the right price) having just sold a 18 pack in Brisbane after owning it for 12 years and still own 2 6×2’s here in Brisbane. Developed over 50 blocks over the last 20 years so think there is real value at the right price.

If you intend to keep the properties there is absolutely no need to…[Read more]

Hi Peter

Just sent.

Cheers

Yours in Finance

Terry W from the forum here is a Solicitor and can certainly cater for all if your requirements.

Cheers

Yours in Finance

Hi Rust

One big downside is if you end up paying cash for the properties is when you come to buy your PPOR you will have to borrow and therefore find the interest to be non deductible whilst the income from the properties (even if you do buy in Trust) will be Taxable income.

In an ideal world you would gear against the properties and place the…[Read more]

I am with Alistair it is so crazy at the moment it is hard enough to keep up with current forum enquiries let alone take on a Mentor.

10 years ago i Mentored a couple of guys who went out on there own here in Brisbane and are getting by.

I am with FAST so depending where you are located i might be able to refer you to someone.

Cheers

Yours in Finance

Hi Shaun

Unfortunately it is a PDF so would you like to shoot me an email and i can reply with it.

Cheers

Yours in Finance

Avoid CBD and Inner City Units as there will be an oversupply of units when they all come to market.

Anything within 8 kms should be fine but personally i would avoid new properties.

I have just sold a block of 18 units in a Inner Western suburb which i purchased in 2002 for 1.8 M and sold for 5.8 M settling in October 14. Whilst i renovated…[Read more]

I have just purchased a new car at a lot more than 60K but totally agree with others that lease repayments will certainly significantly reduce your borrowing capacity in the future.

If you are unable to claim any element of a Tax deduction for the interest or repayments i would think very carefully before proceeding.

Cheers

Yours in Finance

Hi Ivan

Had a number of Forum clients who were buying thru them and when we saw where the properties were located they were surprise surprise overpriced as usual.

In most cases the valuations came in at an amount less the marketing fees circa 40-60K.

Cheers

Yours in Finance

I have written a number of articles for the API Magazine over the years so will try and dig one or two out and send them over to you.

Cheers

Yours in Finance

Hi GP

Welcome to the forum and I hope you enjoy your time with us.

Not sure which part of Brissie they would want the property to be located but i have to say i would definitely look at taking it further.

Take the loan to 80% but set it up as a split loan being the amount you need to settle the PPOR purchase and the balance of the 80% as an…[Read more]

Hi Alistair

Sounds like a totally different business and I am sure all above board.

Once I have my dates for my next visit to Melbourne I will give you a shout and we can catch up.

Yes agree I think the Short Term lending market is really going to kick off this year.

Talk soon.

Cheers

Yours in Finance

Hi Danny

Firstly welcome to the forum and I hope you enjoy your time with us.

Your post has a number of questions so I will try to give you an overview.

Firstly in regards to accessing equity from your existing property subject to a current valuation and an acceptable loan to value there is no reason why this can’t be done.

If you were a…[Read more]