James

No Credit License need in Qld trust me i have done 1 or 2 wraps over the years.

If you sell more than 6 a year yourself you may need a Property Developers License but they give those away in cereal packets. It all depends on how you structure your wrap.

If the Purchaser brings the property to you then that is different.

Email us if you…[Read more]

Paul

They do but only to 60%. Wide Bay used to go to 80% did several deals with them on SA in Noosa.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

Hi Junoo

Ok your in Qld that saves me asking which State you are referring to.

Personally on all the deals i have done this way I would structure it as follows:

1) Finance Clause on the second page of the REIQ Contract – Subject to Finance satisfactory to the purchaser.
2) Special Conditions – Usually make the clause an Annexure to the Contract…[Read more]

To re-iterate my previous post the contract date is the date taken in calculating CGT.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

Probably another in the growing list of mortgage managers.

If you want to tell us a little more about them we can comment further about their product range.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph:…[Read more]

Funding should be a formality then.

With the right lender you should be paying nearly home loan rates.

Happy to help further if you need assistance.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

I am with Cameron on this one.

Your fixed rates in todays climate are attractive. Don’t both about the variable rate on a property you intend to sell within months.

Next time try and ask the lender if they have a No frills type of variable rate product but just be wary that lenders have wised up and most charge a deferred establishment fee or…[Read more]

Hi there

You don’t mention the size of the current loan secured against the property but on the basis that you borrowed to purchase the property initially and that serviceability is satifactory i cannot see any problems in funding the development or indeed funding the relocation in due course.

Given the price you paid for the property you maybe…[Read more]

LTO / Wraps / 2nd mortgage / Vendor Finance / Flipping / Wholesale purchase financing against valuation the list is pretty endless.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

“”If it’s an IP and you have had it for more than 12 months and it’s not held in a company, then you are entitled to 50% discount on your CG.””

Just to clarify the period of time you hold the asset is not the defining period but the date of the purchase and sale contracts.

You can go to Contract on the 1st January 06 but not settle until 30th…[Read more]

Colin

I might be one of those somewhere else at the moment and you might have to put that beer i was going to buy you on my tab.

Still trying to get someone else to coach the kids soccer that evening but no one seems to want to put their hand up yet.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected…[Read more]

Hi Tim

Regretfully the Banks and lenders are wise to those investors wishing to try and renovate and invest full time and now many institutions charge deferred establishment fees or early repayment penalties on even their variable rate loan products to counter this.

Certainly application fees can be shopped around but you have to bear in mind if…[Read more]

There are a couple of new lenders but the rates are higher than normal.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the USA.
Email us to be added to our mailing list.
richard@yourstatefinance.com
Ph: 07-3720 1888

Hi Ngai

Hope tha following answers are of some assistance:

Are there lenders who will give fixed interest rates for 10 years or more? Does this make the numbers prohibitive for a positive cashflow? A – Yes many of the larger mainstram lenders offer such rates

What exit strategies do people have for the worst case scenarios?

Never overcommit…[Read more]

Hi Arthur

You are correct in most cases every time you make an application for a loan the lender usually records a enquiry against your credit report. In saying that if you have made the application and subsequently repaid the loan then in most cases the lender and the mortgage insurer (if applicable) will not have an issue especially if you can…[Read more]

Without some actual figures and personal information it is difficult to assess any application.

Most lenders use a variety of different serviceability calculators to assess an applicants borrowing capacity and with the likely of interest rates increasing on Wednesday this may reduce your capacity.

However as mentioned without some further…[Read more]

Before you shell expensive fees to overseas Attorney / Accountants would you not ask yourself:

1) Why do i need to set up the Structure. Tax minimisation or Asset protection.
2) Will i be able to finance in such an entity or am i happy paying cash for the property.
3) Which State will i be purchasing and what State would i form my LLC or C/S…[Read more]

DD

My answer to Jae question was correct.

He asked ” Im hoping anyone can help me. Is it possible to use my super fund as collateral or deposit to get a loan from a bank” I answered – NO.

The alternative arrangment by investing in a Unit Trust and purchasing a geared property has transitional dates and cannot exceed 1 July 2009.

Again…[Read more]

As Xenia mentions looking at alternative ways of generating a positive cash flow through a variety of financing ideas can be the way forward.

Also the advent of Nodoc style homeloan has helped many borrowers in exactly the same position.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the…[Read more]

Under normal circumstances you are unable to withdraw from your Superanuation funds prior to age 55 unless in the event of severe hardship.

Therefore in most cases Tax is not an issue because you are unable to make the withdrawal.

Cheers

Richard Taylor
Residential & Commercial Finance Broker
100% Finance on selected properties in the…[Read more]