I am with Terry keeping them separate is the way to go for both cost as well as accounting at the end of the year.

I dont believe that Wizard offer a Nodoc loan but if you have the 20%+ deposit you should be able to source funding on the security property iteself at an attractive rate of interest.

Although in saying that I am not a great fan of…[Read more]

David

Many development deals allow the purchaser access to renovate the property at his expense and liability prior to settlement so there is nothing new there.

LMI – Lenders Mortgage Insurance.

GR lending is lending against the Gross Realisation of the development.

Assume I purchase a block of land for say $250,000 and build 3 Townhouses on…[Read more]

I disagree i am aware of 2 separate lenders who will lend on valuation and not purchase price from Day 1 dependant on the client and the property.

1 is public listed company who specialises in commercial funding but will also take residential security and the other is a private lender.

GR lending is standard practice in development deal so…[Read more]

Hi Brizza

Yes the Guarantee does not effect the Title on the loan so the rebate on the SD and the FHOG are both available even if the Guarantor has purchased many times before.

Cheers

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

To carry on from my previous post there are many lenders who do not allow lending in such structures however half the craft of a good MB is being aware of what each lender offers and what they don’t like.

Cheers

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

If your MB is telling you that i would be switching MB’s immediately as it is obvious he / she lacks experience in Company / Trust structuring.

If the fact is that you cannot evidence your income sufficiently to obtain a loan in your own name then purchasing it in Trust with a Pty Ltd Trustee will have absolutely no bearing on the application if…[Read more]

R & L

Yes there are other expenses to consider but there are also other deductions to factor in as well. Loan expenses deductible ove rthe term of the loan or 5 years whichever is the lesser, building write off dependant on the age of the building and Depreciation on the internal fixtures and fittings.

Think you would be suprised how little the…[Read more]

I might need to redefine what i mean by never never sell.

I totally agree that you should sell an unperforming asset especially if you can time it in a year that you have losses to balance any gain or vice versa.

I built my cash flow up over the last 10 year in wrapping and this enabled me to fund my lifestyle and also my buy and hold…[Read more]

Hate to say they are not talking to the right MB.

If you have $1M in equity you would always be able to obtain finance through a Nodoc style loan.

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…[Read more]

I like to think i have built a reasonable portfolio over the years so am happy to offer a bit of advice.

Certainly there is no right or wrong to property investing and as PE mentions everybodys circumstances are individual.

All i would say is imagine that you make $100K on a reno over a period of 3 months. Not only will you need to deduct the…[Read more]

Hi Unreal

It is a common question i get a lot and usually give the same answer.

With regards to your PPOR then only think about selling this if the property is unsuitable for your current circumstances. If the property is suitable to be rented out why not retain it and lease the property out and get the continual benefit of the capital…[Read more]

Hi

Good on you on doing some through research and due diligence.

With regards to your maximum borrowing capacity i assume this has been advised to you by your local Bank. Remember each lender works on a different serviceability calculation and that one maybe the maximum with one lender maybe totally different with another.

As a MB i get asked…[Read more]

Totally agree with Xenia.

i love it when in their first 10 posts they say email / call me and I can help you out.

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.

As has been said another marketing company.

Very big on Brisbane radio telling you how they have helped dozens of average Aussies get into a IP.

As Terry mentioned do it yourself and save thousands.

Cheers

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

Barry

Do you do home visits ?

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.

Yes it is as i have a couple of properties within my SMSF but remember you are unable to borrow in a Super Fund.

Talk with a good Financial Planner and he can explain more.

Feel free to post as many questions as you like and i would be happy to answer them.

Cheers

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

Barry don’t think many people will respond to a UK email address for an Australian loan enquiry.

I agree with Kylie I would have no problem in showing anyone potential clients details of my entire portfolio and giving them a CV of my experience.

Too many brokers have only been in the game for 5/6 years and have very little in acumulated wealth.…[Read more]

Must admit I don’t know of many blue chip stock that grow their businesses 15% year in year out.

I think most companies would work on somewhere around 8% PA growth in their stock price and pay out around 4% FF dividend.

Buying in a SMSF will increase the Franking credit benefit.

Cheers

Richard Taylor
Residential & Commercial Finance…[Read more]

Do a search on this forum and others like it and you will find that it has been discussed many many times before.

I personally know of around 10 mortgage managers promoting the product and agree that there is a time and a place for it and this market maybe not be the one.

Cheers

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

Red

You can refinance upto 95% LVR so don’t let that be a barrier to starting investing.

Make sure that your existing loan is structured in such a manner that is effective by ulising a interest only loan and offset account.

Remember that when you refinance the LMI charged on the amount of money that is being used for investment becomes Tax…[Read more]