Anne

I agree with Bridge i can see no problem in realising your cash and then assessing the market and renting for a while.

As a financial planner and investor I would not advocate investing all of your cash funds into IP’s but look at a spreading your risk into a variety of investments vehicles.

If you read my past posts you will realise that…[Read more]

Hi Carlin

The plan sounds ok on the surface. Couple of things:

1) Make sure the PPOR is also interest only as well rather than P & I – not all lenders offer this.
2) The current rate on the variable portion of our PPOR is 7.49%, but the offset account rate is 7.79% so it will be costing us a bit more – You have lost me here. The offset rate…[Read more]

Hi Carlin

The plan sounds ok on the surface. Couple of things:

1) Make sure the PPOR is also interest only as well rather than P & I – not all lenders offer this.
2) The current rate on the variable portion of our PPOR is 7.49%, but the offset account rate is 7.79% so it will be costing us a bit more – You have lost me here. The offset rate…[Read more]

I can’t let you know who the lenders are at this stage as we submitting a couple of loans under a non disclosure program.

Investors applications are not able to be submitted initially to iron out any problems the lender has.

Further news will follow when available.

Cheers

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

As Bridge has pointed out an IP loan would normally be an interest only loan however the most important thing to do prior to deciding the loan type is the structure.

We spend a lot of time working with client ensuring their structure is correct prior to them getting anywhere near committing to a IP purchase.

A little bit of time checking over…[Read more]

There is also 2 lenders offering over 100% loans which includes your closing costs but like anything you do pay a little over the odd for this.

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]

To clarify the ATO position

You are allowed to have two PPORs for 6 months section 118-140, if the old PPOR is not used as a rental for 12 months before it is sold. The 6 months back dates from the date of sale of the old PPOR.
If you want your new place to be totally exempt from CGT you will need to use your PPOR on it from the time you bought…[Read more]

Nathan

In it another scam. These guys join a forum and then try and flog their product or service.

Just ignore them and move on to big things.

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]

Spent the last 9 years acquiring + cash flow properties by the way of wraps in Qld.

Strategy worked well with my capital growth 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…[Read more]

Again it is dependant on your long term goals.

If you have no personal non tax deductible debt whatsover and intend to hold the property and live off the rental income then sure consider paying down some principal but remember the principal compenent of your monthly repayment could be used to cover some of the interest on your next IP.

As a…[Read more]

I agree with Bridge – Members Equity have nothng special and no person to structure our loans correctly.

Source are merely a mortgage manager who deal with a non bank lender. Would be the last place i would go for good advise.

Limited range of products single source of funding (not a Pun) and again non in house specialists.

Cheers

Richard…[Read more]

Hence the reason before you purchase a property your structure needs to be right.

You need to decide whether the property is to be a long term buy and hold or a short term buy and renovate and sell.

Once you have estblished a plan you merely buy the properties in the appropriate entities.

Cheers

Richard Taylor
Residential & Commercial Finance…[Read more]

Nathan

Yes mate is a scam. Like a lot of these that appeared over Xmas and New Year they are all playing on the guilible.

You have been warned – Stay well away.

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]

Nathan

Yes mate is a scam. Like a lot of these that appeared over Xmas and New Year they are all playing on the guilible.

You have been warned – Stay well away.

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]

$400 / week may sound like a of money but have you considered how much the interest on your loan of $600K would be.

Remember when you purchase your own PPOR not only is the interest not tax deductible but also you have the additional expenses of Rates, Body Corporate (if applic) and general upkeep.

With renting you pay your rent and that is…[Read more]

Hi eve

Where are you based ? Should be able to assist.

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 Celeste

Yes loan portability is common however there a lot of disadvantages.

In essence the two loan amounts will need to be the same and have simultanous settlements.

Not always easy when you are trying to buy, renovate and sell.

Cheers

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

Hi Jamie

Appreciate your kind comments and welcome to the forum.

Must admit been contributing for around 7 years now and have enjoyed every minute of it assisting others achieve financial freedom.

Feel free to give us a call anytime and we can chat further.

Cheers

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

There is no question about it if she intends to do as you set out she should take out a interest only loan with a 100% offset account.

This will give her flexibility as her circumstances change.

Not all lenders offer such a product and many dont offer a full 100% offset account or do not calculate the offset interest on a daily basis.

Your…[Read more]

I hate to disagree with Kylies but do not believe that the sale will trigger a CGT issue.

The property is nominated as your PPOR and stamp duty will have been paid accordingly. If as a result of other circumstances the property is sold then no CGT will be payabe.

In saying this there is a cost associated with buying and selling so would suggest…[Read more]