Why go to contract on the property with a partner when you could take Call Option out on your own.

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.

Magic

You maybe able to utilise a lodoc / nodoc style of loan. They do not need to guarantee anything and only your name would be on the title.

Your parents would need to draw the loan down and the funds would need to be ready for settlement. All depends on the lender whether funds are required up front with the application.

Cheers

Richard…[Read more]

Try PMing Islandgirl she lives on Macleay Island and knows all of the local areas.

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 magic

Couple of issues here but easily sorted out.

Firstly why are your parents going to act as Guarantors?

I assume that it is either to utilise their incomes in order to assist with your borrowing capacity or to utilise their security due to lack of deposit.

If it is the case that you are wanting the Bank to take their income into…[Read more]

Hi Angela

Firstly welcome to the foum and a big congratulations to you both to having the drive and motivation to get ahead.

Couple of questions I would need answered before posting a point of view.

1)Where you currently reside in WA is the property rented or do you own the home with a loan secured against or unencumbered ?
2) You mentioned…[Read more]

Hi Anita

This is one of the battles with X collaralised loans where the lender can dictate what you pay off when you sell or release a particular security.

There are 2 main issues here:

1) Your own home being tied up with the Ip’s though a X Collaralised structure and these would need to be worked through individually with Anz. Certainly not…[Read more]

Hi Cody

Not usually. We might find a lender who will do it but they might charge a slightly higher rate.

As i say would need a little more information to give you a definate asnwer.

Cheers

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

Chris

Why not try

Ross Johnston PNA

Mack Accounting
PO Box 371
Pittsworth Qld 4356
Ph: 07 4693 3148
Fax: 07 4693 3149
Email: ross@mackaccounting.com.au

who posts here as trajjic. Always believe on supporting regular contributors.

Cheers

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

Hi Cody

Must admit many clients tell me the same thing “by the time i pay off this i will be old and grey before i can start to invest” so i know what you mean.

No getting finance with a personal loan is not out of the question so fear not on that front. Any lender will merely take the monthly committment on the personal loan into consideration…[Read more]

Certainly you will have a wider range of lending options if you can come up with a 5% deposit especially if you have a blemished CRAA.

A default with good explanation should be explained away to the mortgage insurer dependant on when it was and for how much.

Always a good idea to get rid of consumer debt first however as mentioned dependant on…[Read more]

Trajik

95% is quiet achievable.

Feel free to email me and I can give you a list of lenders that may suit 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.

Hi Steve

Firstly welcome to the forum and I hope you enjoy yoyr time here.

Maybe not be in Melbourne but most of my clients are inter state so would be happy to offer my assistance.

I am a long time property investor who has 1 or two IP’s to say the least and have been on the forum for around 7 years.

Hopefully you can get a reference or two…[Read more]

Andrea

As has been mentioned you do not need a deposit to purchase an investment property but like anything if you don’t have one there is always a catch.

Either the loan is mortgage insured and you need to come up with the LMI premium or the lender self insures the loan and you pay a higher application fee.

If you have equity in your own…[Read more]

Firstly Happy New year to everybody and especially the new members on the forum.

Certainly i agree that you need to start off with a personal and financial plan before you do anything.

Secondly you need to work out what structure you wish to set in place to buy your IP’s in i.e Trust. I have seen to many client go to Contract on the property and…[Read more]

Hi Jonno

Personally with a limited amount of deposit I would be looking at residential over commercial property for your first IP as your borrowing ability will mean you go to a higher LVR.

Residentially you could go upto 100% (less costs) however for a small commercial property you will limited to around 70/75% or larger commercial property…[Read more]

Hi there

Before anyone can offer you financial advice they need to be a licensed financial planner.

One of the golden rules in the industry is “know your client” so I for one would need a lot more information prior to making any recommendation.

Cheers

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

Dave

Just make sure a Financial Adviser discloses to you any charges he makes.

I only charge for the preparation of a Statement of Advice for my Investment clients but nothing for life or income protection.

Certainly should not be charging anything for organising a loan for your future investing although some of the stries you hear nothing…[Read more]

Dave

As Terry has pointed out why not look at setting up a Loan on the property to 90% of the valuation. Sure there wil be a cost for mortgage insurance but as the purpose of the funds is for investment the premium becomes Tax deductible.

Then with the available funds draw down only what you need to cover the deposit on the first IP and…[Read more]

SK

I agree with the previous responses to you post however also beleive it is important to deal with a broker who has actually purchased a property or two himself.

Believe it or not i hear from clients that they spoke to a broker who may have known his range of product but was slightly unsure as to the proceedure as he had never purchased a PPOR…[Read more]

I cannot see any immediate flaw with your ideal about renting yourself whilst offering your own property out for investment.

Access the equity in your property and then combine these funds to do a couple of cash flow renovations or wraps and a couple of long term buy and holds.

A nice mix and combination of Asset growth and cash flow positive…[Read more]