Hi Kyles

First think i would do is talk to an independant mortgage broker and make sure what the Bank telling you is:

A) Do able and affordable.
Your limit.

Rent is dead money – sure but then so is not tax deductible interest, however unfortunately we all have to have somewhere to live.

Subject to serviceability you maybe be able to consider…[Read more]

Jim

Would you like to expand a little further on what you refer to as a No Doc loan. Do you mean a loan with no income documentation ?

I assume that First Permanent HL requested proof of earnings?

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

IP funding and US property finance
our speciality

Phana

Be very careful on the South Side of Brissie at the moment as many vendors are trying to get purchasers to offer non refundable deposits on the moment with a view to capitalising on the current prices.

Usual recommendation “If it looks too good to be true it is probably is just that”.

Happy to crunch some number for you if you want to…[Read more]

Brizza

Most lending institutions would treat it as a development loan and therfore lend against Gross Realisation.

We often do developments where we may borrow 100% of the purchase price and then ongoing construction or developments costs subject to end value.

Sometimes the Bank will want you to put in your “hurt Money” first but that all…[Read more]

Paul

If you feel the kit doesnt work try Ownit Conveyancing (part of Melville McGregor Lawyers)at Beenleigh.

Contact 3807 1522 ask for Leonnie and tell i sent you. Their fees are only a little more than the kit you have just bought.

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

IP funding and US property finance
our speciality

Check the Covenants on the land to ensure that the buyer is not required to construct a dwelling within a certain time frame.

Also you may have to submit the plans to the Vendor to get him to approve the style of home being constructed to ensure it is in keeping with the estate.

However i think you will find that the sell a ve covenants…[Read more]

Good article redwing

I am aware of several major lenders who will not accept loans from these brokers.

Personally i am quiet happy to offer a client a refund of commission in certain circumstances as i look at it as a way of advertising.

Referral business is an excellent source of business for any broker and i am lucky enough to receive a lot…[Read more]

Bris

What loan amount are talking about and what type of security is being offered?

I guess it depends on what rate of interest, terms and conditions you can negoitate in the first place.

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

IP funding and US property finance
our speciality

We are a sleepy outback town here in Brissie and not recommended for clients wanting to obtain long term capital grown or miltiple property investments.

The only thing we have going for us is the sun and well that only shines half the time.

Recommendation – Stay Away leave it to the locals

Cheers…[Read more]

Paul is correct with regards to Qlds residential tennacy laws.

This is the reason in Qld you would not use a Lease Option which falls under RTA but a License to Occupy where variations can be made.

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

IP funding and US property finance
our speciality

I recently settled a deal for a UK client buying Crotia but must confess Bulgarie is a new one on me.

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

IP funding and US property finance
our speciality

Hi corey

Firstly I don’t now Ben or his company.

I am Brisbane based also and retired last year at the age of 39 only to find myself totally bored and fed up with housework so the wife sent me back to work.

I now run a finance broekrage assisting people get on board with funding, wraps and other positive cashflow strategies.

I am happy to…[Read more]

From one 007 to another – firstly welcome.

You mention that you have done some cosmetic renovation to the property and it is now homely. From this i assume that you live in the property as your PPOR.

If you were to sell the property you will need to live somewhere by either paying rent which is dead money or purchasing again meaning you will…[Read more]

Try Cabreras in Burpengary.

Speak to Jose and tell him i sent you.

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

IP funding and US property finance
our speciality

Texas is very strong and we have many clients who have purchased there as well as Rochester and surrounding areas of NY State.

Certain financing legislation makes obtain loans in Texas a little unusual as the have seasoning rules and Cash Out rules on HELOC’s.

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

IP funding and…[Read more]

Misty how can the mortgage be whatever you want it to be. It is either a PPOR or an IP.

Simons questions is not a trick question.

If it was your PPOR you could merely place the funds in your offset account and that would reduce your interest burden.

If the loan is for 12 months why not take the principal balance and multiply by the annualised…[Read more]

Scott

You really shouldnt have much problem in obtaining finance if you have a siseable deposit.

Most lodoc and nodoc deals are done at standard housing rates.

Feel free to email me if you need a few suggestions on a particular scenario.

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

IP funding and US property…[Read more]

Lisa

I am sure you offer a great service but to be honest most of us on here would rather deal with someone like Westan, Alvin or Mic from Aussie House Hunters who have been around for a few years and are well known in the forum.

15/20% return in nothing special for the US.

Cheers…[Read more]

djkm

Can certainly recommend Roy and his team as they have some good contacts and some great properties in Perth.

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

IP funding and US property finance
our speciality

Regrow

No the interest isn’t tax deducible.

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

IP funding and US property finance
our speciality