Alistair

The Trust will not be set up in Oz but in the US so will not be floated on the ASX.

The underwriting refers to how Regions Bank who I have been working with for nearly a year will consider each members serviceability.

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

Specialising in US & IP finance.

suzieq

You say you have placed a deposit on a block of land so i asssume from this you have signed a contract.

It is unlikely that the Vendor or Developer will allow you to replace this with a Put / Call Option as he will see you as merely a speculator and probably want to increase the price.

The Put / Call Option should have been drawn up…[Read more]

Alistair

I concur with your post.

Commercial lenders are dime and dozen but as you say the terms and conditions vary considerably.

Did a $1MUSD loan for a FN client earlier on this year on a Commercial property through my old broking house / bank JP Morgan Chase. When I phoned them for the 2nd deal they told me they never lent to FN it was…[Read more]

ilearner

How ill informed you are.
Do you really understand the mechanics involved in establishing an installment contract or License to Occupy.

Do you really think companies such as General Electric (One of the largest companies in the World) and their associated Financial arms should also be SHAMED for charging clients 27% PA on products…[Read more]

Financing a deal that size is a lot easier beleive it or not than it is to finance a deal for $35000.

With the changes to the Patriot Act with effect 1st October 2005 Section 32 Loans are now becoming a thing of the past.

The implications both financially and legally on the Directors of Banks and other lenders caught lending on cases where they…[Read more]

One other reason for undertaking the building and construction in another entity away from the holder of the land or building is the BSA.

In Qld your turnover determines the Assets required to be personally held by you as a developer and this includes purchase price of any land and building being refurbished.

By using an separate entity on a…[Read more]

Let the wrap business look after itself and increase our development business.

If it is this active when we are supposedly in a downturn heaven help us when things start moving up again.

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

Specialising in US & IP finance.

30PC

I can assure you that valuers do not have different assessment criteria for if you are a Qld local or from Inter State. All are treated the same.

When instructing the valuer many lenders will indicate to the valuer whether the purchaser is local. Others may require a full valuation if the purchaser is inter state whereby the Contract price…[Read more]

Suro

Many lenders offer a Professional Package which provides you with numerous benefits in relation to the waiving of application fees or a reduction in the interest rate etc in exchange for an annual fee.

The levels of entry and benefits vary so as Simon mentions consult a good mortgage broker as the result will vary considerably.

Cheers…[Read more]

Gross

Changing a Director has no bearing in trigering Stamp Duty or CGT irrespective in which State the Company was incorporated.

ASC only requires 1 Director of the Company to be a resident of the Country whilst Directors can be residents overseas. Where the Directors reside makes no difference what so ever.

The triggering of Stamp Duty or CGT…[Read more]

Cabo.

Further to what you have told me thus far:

1) What increase in interest rate is associated with a “commercial deal”?

ONLY applicable of more than 4 units on the one title and then in some cases can be the same as residential rates.

2) Is land tax based on dwelling number, block size, individual unit floor size, bed room number, dunnies,…[Read more]

Hi Brendan

The new entity structure would have little bearing on obtaining finance as I note from your post you will not be occupying the building.

Normal LVR for such a Commercial property would be circa 70/75% although we do have one lender who will go to 80% if the tenantcy is strong.

Cheers Richard
Ph: 07 3720…[Read more]

Leo

Sorry how could this have an effect on my wrap business.

If you do nothing wrong then you have nothing to worry about.

All of our clients over 9 years have located their own properties and come to us with the deal so they have always been sware of what the original asking price was.

They receive a letter of oofer from us advising them what…[Read more]

110% is available from a private lender here in Qld if the purchase is in the Sunshine State.

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

Specialising in US & IP finance.

Resi

Have a look at the getting creative forum Terry W posted comments and a link to the full case.

My opinion is the wrapper deserved what he got.

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

Specialising in US & IP finance.

It would have nothing to do with the whether the clients should have been approved or not originally but more to do with the fact then they appeared to retain no interest in the installments paid.

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

Specialising in US & IP finance.

106% available if the postcode and suburb is right

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

Specialising in US & IP finance.

Terry

Appreciate that will read it later.

Must admit in 9 years we have never been in his wrath. I guess if you never do anything wrong it is difficult to have a go at you.

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

Specialising in US & IP finance.

Terry

Another great piece of Jenman journalism.

Funny he was never like that when i drew up the Contract to buy a block of units off his parent in Hamilton Qld in 1998.

He couldn’t even be bothered to comply with the terms of the sale which stimpulated that the Vendor was responsible for serving notices on the tenants to leave. Due to this we…[Read more]

Sorry why cant it not be rented to locals.

Is it a local law or State regulation.

If you buy in a regional area I would have thought the only type of tenant would have been a locals. Not many passing week to week rentals.

You post states that you are thinking of opening your eyes and buying a 10 unit block then you state that you own a 14 unit…[Read more]