Brizza

The last owner build deal i did with the NAB was capped at 80%.

Depending on which part of brisbane you are i can email you the contact number for the best NAB mobile lender going around.

Nothing is too much trouble for him.

Cheers Richard

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

IP funding and US…[Read more]

Hi Jenaseire

Fear not it’s a common problem i see with clients unsure as to what their next move should be to obtain the dream. Most of them are worried that if they do 1 thing they will not be able to do another.

Firstly you mention that you are renting which as we all now is dead money. Interest can also be described as dead money on your own…[Read more]

Clarebear

I dont think you will find anyone will offer you free title searches.

Companies like RP Date charge for their service either by way of a monthly fee or for each individual search.

Searches are not expensive for example in Qld you are looking at a base price of $11.50

Cheers Richard

Ph: (07) 3720…[Read more]

Ok Devil

If we are looking at 95% on each then Pioneer have a maximum loan of $1Million.

The early repayment penalties vary dependant on which year you pay the loan out.

2.5% down to 1.5% in years 1-5.

If you stay in for 3 years then your 8.99% rate will fall anyway.

Unfortunately, at that level of borrowing they need to make up there money…[Read more]

Mallowe

Must be both you and my lucky night.

If you want to send me an email i have a simplified Option Agreement we use on our development projects.

Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Yes Pioneer does reduce its rate after a 3 Year period.

I assume you are referring to an <80% lodoc lend?
If so $900K – $1Million is obtainable.

If you want to give us all some actual figures we can give you more information.

Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Mallowe

If you can give me a couple of days as i am trying to recover data after a complete computer crash i have just the document you will want.

Or if not it can certainly be adjusted to suit.

Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Well guys thats 3 Brisbanites already.

We almost have a quorum?

Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Asking the Vendor to leave money on the table isnt that difficult and i guess if it is going to be attractive this market is ideal.

Couple of things you need to bear in mind:

1) If the Vendor is having to wait for a period of time to receive the full amount of his asking price then your power to negotiate is diminished. There is nothing that…[Read more]

Loanwolf

What State is the property in?

Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

Hi Jordan

Another Victorian who has seen the light and decided to invest in Qld good for you.

Slightly unsure as to the laws relating to contracts in Victoria but the Qld system is simple.

The Standard Real Estate Agents of Qld Contract contains between 2-4 pages of property and personal information 9dependant on whether it is a House or Unit)…[Read more]

Mallowe

What is it you are trying to achieve.

We have used Put / Call Options a lot in Brisbane for our development style projects and admit however good my Accountand is i would never let him write the Deed up.
I beleive you will need a few more than 2 / 3 pages but should be able to get a Solicitor to condense it into around 5…[Read more]

Brizza

Very true the lenders seem to frown on this type of lending.

I would say however that from the deals i have done for owner builders you should be able to achieve 75% LVR at standard variable rates.

This percentage is taken on the land purchase price and the complete costs of the kit home.

Cheers…[Read more]

WB

Your scenario is simple in ideals but has also forgotten a couple of important issues concerend with property investing:

1) Building Allowance Write Off’s
2) Depreciation

Both these are non cash items but will dramatically effect your Taxation position.

Secondly 10% PA is not that great in the markets when most achieved more than this year.…[Read more]

Yobab

Try someone like Pro rentals in Brissie i beleive they are a lot lower than than.

Must admit for the buy / hold properties i own over Qld i would never pay that sort of rate.

Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

JS

The problem i see and you and I have discussed the deal off line is that:

1) If i was wrapping it i would want 20-25% mark up on the property which defeats the object of your exercise.
2) I wouldnt take a wrappee who couldn’t proove his income.

All in all 95% lodoc doesnt sound that bad at all.

Cheers…[Read more]

devil

Steven and I use the same lender i am sure and i believe that 8.99% is a good rate for someone who cannot prove any form of income through the traditional channels.

On wrap deals i charge 9.25% and never take on a client that can’t prove his income and that rate is charge don 125% of the purchase price.

All in all at 8.99% thats say 2%…[Read more]

You might also like to try Mic at Househunters as they are excellent in locating properties for clients.

Their number is 02-49432864 but they cover the whole of Oz.

Cheers Richard
richard@yourstatefinance.com
http://www.yourstatefinance.com

IP funding and US property finance
our speciality

PT

Don’t feel that age is ever an issue in being successful.

As for building up a team to assist you:

1) Your Bank Manager will be off and looking for promotion when the opportunity arises and will not think of staying put becasue you are his customer. His lending policies will change as his Banks criteria alters over time.
2) Believe it or not…[Read more]

Dev

Sorry i think we were all under the impression that you had zero Bank funding.

60% is low dependant on the Franchise you should be able to get more than that.

To be honest unless you are going to allow the investor to be active in the business so he can see where his or her funds are going i think you are going to struggle.

Cheers…[Read more]