On the basis that the original purchase price was registered and available for the Bank valuer to check on (even if a copy of the original purchase contract was offered to them) i cannot see any problem with this at all.

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

IP funding and US property finance
our speciality

You are Fizzer and coffee is on you hahhaha

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

IP funding and US property finance
our speciality

Thanks G7 very kind of you.

Invented makes me sounds as old as the wheel but i must confess i have done one or 2.

I will PM Fisser

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

IP funding and US property finance
our speciality

Dependant on the zoning you will not be allowed to build 2 separate units underneath a residential house but maybe allowed to build under and then in turn the underneath to say 4 bedrooms with a shared toilet and kitchen as in a granny flat.

Councils in Qld are awake over the increase in GFA so make sure that you are within your boundaries of…[Read more]

Hi Sebastian

I have just completed a loan for a client in Crotia under a foreign nationals loan although the interest rate was slighly higher at 7.29%.

Loans in Poland are readily available for the purchase of Polish property. There is a minimum amount although this may vary from lender to lender and according to location. With Fortis Bank the…[Read more]

Hi Coast2Coast

Welcome to the forum.

As Paul explained imagine the intallment contract repayments being exactly the same as a mortgage loan. Interest is added and repayments are deducted.

Over time the loan balance reduces assuming that repayments have been made on time.

The mechanics are straightforward.

Enjoy your time here as we are a…[Read more]

Hi lemzip

This might help:

First Home Owner Grant – General Information
An eligible home must be occupied by the applicant(s) as their principal place of residence within 12 months of completion of construction or settlement of the home.

If you need further infor check out the OSR website in your State or alternatively…[Read more]

Jacob

Zoning varies from not only State but from Council to Council.

Your local Town planner will be able to point you in the right direction.

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

IP funding and US property finance
our speciality

Adam

Work it out this way.

Your net income from the property = $153 / week.
which equals approx $662 / month

Expenses = $895 / month mortgage repayments (Assume P & I over say 25 years)
Rates = $100 / month
Utility Rates – $$83 / month

Already you have negative cash flow of $416 / month. Be reducing your loan repayments to interest only will…[Read more]

Heh Jacob

20 or not good for you on having a go.

You mention the vendor is looking for a delayed settlement. Why not consider asking if they will consider a Call Option.

You can then conduct all of your due diligence and meet with architects, town planners and Local Council and then if it can be done off load the property to a developer.

An…[Read more]

Kendo

Carrying on from what Terry has written i think you will struggle in getting the Vendor to wrap the property for you.

You state that “The vendor is debt free and wants to use the lump sum to retire and invest completely passively”.

Certainly by wrapping the property to you he will not enjoy a lump sum but a series of installment payments…[Read more]

Beast

Obtaining your credits through a variation to your tax coding will help on a weekly basis and improve cash flow.

However one are we find many clients fail to overlook os to assess your investment loan and the structure in which you are buying the property in.

Talk to an independant mortgage broker as look at the range of options. Remember…[Read more]

Talking about living on the edge.

If you can’t afford the repayment then your home is at risk. How many times have we heard this said.

This sounds like a couple who have been rather negligent in their borrowing or maybe their mortgage broker or financier has been negligent.

The are purely reliant on rent and capital gain. What happens when…[Read more]

Hi Jacob

This form of borrowing is now quiet standard lending and was introduced by lenders to attract a new sector of the market who were previously unable to borrow.

For many young people these days with prices at the level they are this is the only form of borrowing that will neable them to get their foot on the property ladder.

Remember the…[Read more]

Yasmina

Try Ownit Conveyancing at Beenleigh they cover the whole of SE Qld and are as good as it gets.

Their number is 3807 1522 speak with Leonnie and tell her Richard sent you and they will do you a great deal on costs.

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

IP funding and US property finance
our speciality

PP one consideration is if you never sell it you will never pay CGT Tax on it.

On the basis that you would be able to sell the property and make a profit look at the profit as Tax free equity. You can always borrow against this for future deals.

New property has several advatages over second hand which include:

1)The GST which you will be able…[Read more]

Why is getting the title so important?

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

IP funding and US property finance
our speciality

Hal

A Call Option is the “right but not the obligation to purchase a given property at a given price on a given date”.

Lets us assume that you see a property for $100,000 which you like but are not in a position to proceed to contract quiet yet.

You approach the Seller and ask him whether he would enter into a Call Option option with you. This…[Read more]

Kittie

HRM is correct consult with an independant mortgage broker and try and establish you level of borrowing first.

Remember this doesnt need to be the level of borrowing you go upto just what you an confortably achieve.

Think back to what pluses you came up with when you first decided to purchase your first IP and write these down. On the…[Read more]

Hi Miho

Hope you got my latest email.

Would you like to PM or email me the name of the lawyer as I know most of the solicitors in the area you are talking about.

Also a telephone to the Qld Law Society would probably not go astray. Happy to give you the telephone number.

Cheers…[Read more]