Westan is right it ia all about your stretegy and what you want out of your investment.

I purchased a single dwelling and 4 unit complex in San Juan Capistrano, California over 20 years ago because my Auntie lived next door to the house for sale and well i had visited her from the UK.

Both of the properties have full water views and although the…[Read more]

PK

a) If I buy land build a home and then sell it immediately, I can claim the GST as a refund during the buiding process and when I sell I pay GST on the sale.

“Yes you would be completing the transaction under the margin scheme and claiming your input credits as you go and then be up for GST on the sale price on sale”

b) If I buy land and…[Read more]

Unfortunately the banks certainly dont look more favourably on a future loan if your existing payments on another IP are P&I rather than IO.

It is all based on serviceability. often a P & I loan can work against you as the costs of your monthly repayments are higher.

You would certainly never recommend to a client to take a P&I loan on an IP…[Read more]

Cabo

Neither.

Again there is no easy answer and varies from lender to lender.

In essence the negative gearing benefit is added as non taxable income to calculate service ability.

Assume that at your marginal rate of interest the tax credit is worth $100 / month.

The lender will calculate your net income and a percentage of the rent and then…[Read more]

That reminds me Mic you owe me lunch.

Anyone looking to buy in the US i can certainly recommend Mic and his team.

PS. I will take cash in a brown paper envelope if lunch is too much.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Wasp

Many of the lodoc nodoc lender charge the same interest rate if not better than the standard variable rate so why wait.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Xenia

1 at 110%
1 or 2 at 106%
3 at 100%
Around half a dozen at 95%
many many more at 90%.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Shelley

Your landlords policy should have aloss of rent provision so check that out immediately.

Yes in Qld she will need to wait 7 days before serving them the next notice. Hate to say it doesnt get any easier might want to check out the Qld RTA web site and have a look for yourself.

Cheers Richard
Ph: 07 3720…[Read more]

Called it a day at 39 but got bored at home so went back to finance broking again and love every minute of life.

Can travel the world when i want to see the kids grow up and still work at the same time.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Hi cama

Personally I would never purchase a property with a friend.

Remember a friend today may not always be a friend tomorrow especially if anything goes wrong with the investment and you fall out over it.

You seem to have a half decent deposit although one thing you have to bear in mind is the purchasing costs in VIC especially when it comes…[Read more]

Are you happy to look at the Northern Gold Coast?

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Sally

Not bad for your first post.
Want to tell us who they are.

Out of curiousity you wouldnt be a property manager would you?

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

As brahms mentions we may need a little more information to advise you further.

You will not get a lender advance you more than the purchase price / valuation of the property if their is not additional security being offered.

Lenders also will want you to put your money in first and then be happy to reimburse you on a works done basis.

In…[Read more]

GR

Why not tell us a little more about what you are trying to achieve.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Bob

One of the most importants things is equity and you certainly have some of that.

Wy not consider restructuring your current loan so to allow you release some equity and use this as deposits for new IP’s you may wish to purchase.

I am unsure as to your rental income but assume that it is close to if not greater than your current mortgage…[Read more]

GE = Genworth
LMI = Lenders Mortgage Insurance

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Cabo is right it is all about marketability.

In saying that GE cover it for LMI so i would have thought you coul dhave got at least 80% with a few lenders.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

It is very simple you include a clause in your installment contract stating that you will insure the building and debit the purchasers loan account with the premium amount.

In the event that the purhcaser pays an amount into the account to the value of the buildings insurance premium then no interest will be charged.

That way you are always…[Read more]

80% is certainly readily availble irrespective of how many units in the block.

Completed a reburbished block of 18 units in February of this year and we got 80% no problem.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.

Rick

Yes i will do shortly.

Cheers Richard
Ph: 07 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

Specialising in US & IP finance.