Shiv

Why wouldn’t you just buy the property as tennants in common with a 99/1% share of ownership.

The bank would be happy as they are not interested in the ownership split merely the serviceability and the ATO would be happy for you to split the deductions in the percentage that the property was held.

Cheers Richard

Ph: (07) 3720…[Read more]

batts

It will also depend on the zoning of the land.

I am assuming that the property is approved for multi flat dwelling? Many of the properties in Brissie aren’t and are on Res A land.

As Scott mentions the costs may well outweigh the benefit. You be better off to convert it back to a Queenslander and renovate it.

Cheers Richard

Ph: (07)…[Read more]

Anne

Steven as usual is bang on.
Sounds like it might be time to change Accountants.

We process many loans in the entity structure you have described and it is standard practise in the finance industry to lend with an individual director as guarantor.

For all of our wraps we use a Pty Ltd Company ATF a Trust and there has been a lot of these.…[Read more]

David

I have to disagree with you.

“The next issue is the mortgage insurance. There are only two in Australia. GE & PMI. Anything under 50m2 G.E. won’t touch.”

From GE’s website

“For good quality properties located in desirable and high demand capital city metropolitan locations, the minimum living area is 40 sq M.”

For PMI

“PMI will only…[Read more]

Kenneth

There is a range of institutions that will lend 90% plus for land on the basis that you intend to build on the lot within 12 months.

If not then land only normally 90% LVR.

One or 2 go to 100% on construction capitalising the mortgage insurance to a level of 107%.

I have just done 90% on a block on Rockingham for a client. That would…[Read more]

Ok Thanks Kevin

We really only wrap in Qld.
Although must admit with the attractiveness of the $7000 FHOG upfront it looks attractive.

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Which State are we talking about?

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Rob & Ky

That one is difficult answer:

Is it the loan with cheapest rate of interest, the lowest fees, limited charges, flexibility, portablilty, lower mortgage insurance premiums, redraw, offest a/c, professional package the lust goes on.

I would suggest that you contact a independant mortgage broker to get a clearer picture of your…[Read more]

natwayne

This is a common question which appears regularly on the forum so I do encourage you to do a search and read the previous threads.

With regards to the financing of your new property this should not cause a problem dependant upon your servicebility and a normal land / construction loan would be available.

One thing to consider would be…[Read more]

Wade

Try this link it is good as you are going to get.

http://www.osr.nsw.gov.au

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Hi Milly

Firstly if it does not read as a rude question are any of the kids over 18?

Investing in property can be a wonderful form of wealth creation but as long as it still gives you a life.

A balance between capital growth and positive cash flow can be the ideal way forward as long as you afford to fund the investment along the…[Read more]

Gail

The problem with calculating the premium online is:

1) There are 2 major mortgage insurers both with slightly different premium calculations.
2) The Premiums will again vary dependant on the lender concerned as some insitutions get favourable rates.
3) Interest only and P & I loans attract different premium rates.
3) They stamp duties vary…[Read more]

Calvin

“HomePath is a wholly owned but non guaranteed subsidiary of the Commonwealth Bank. As a separate legal entity HomePath is able to offer products and services in its own right.

A HomePath loan is not a Commonwealth Bank loan. It’s an outstanding lending solution that offers a range of flexible award-winning home and investment home loan…[Read more]

Stu

If I told you they were the 9th largest lender in the US you would find it even harder to believe.

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Hi PP

Yes many lenders simply won’t provide finance to Owner Builders however in saying that there is stick many lenders who do.

Traditionally you will be limited to 80% LVR although i do have 1 lender who claims they go to 90% LVR on a case by case basis.

In saying all this if you have existing security to offer as addition collateral with…[Read more]

Yes

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Jarrod

You state “I renovate houses by myself” yet appear not to have been in touch with the QBSA.

Do we assume that the market value of your renovations on each property is less than $11,000?

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Which State are you in?

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Hi Jacob

I think Misty’s question was is there anyone out there doing wraps in Frankston.

Obviously from the response I guess not.

Out of all of the properties we own under wrap we have never purchased a property first and then tried to wrap it. If you let the wrappee choose the property then you end up buying something that they actually…[Read more]

Erik

For posts concerning the Investors Club refer to the Opinionated forum there are few there.

Cheers Richard

Ph: (07) 3720 1888
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality