Mel

Wow my wife spends that per month.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Madhun

Hate to disagree with you but i think you will find it makes no difference if you subdivide your residential property and sell off part of it then you will be liable for CGT.

Again it is based on a percentage of the overall land size that is being subdivided.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing…[Read more]

Delboy

I hate to say i think potential purchasers are fed up with seeing that type of advert for finance.

Why not team up with a couple of local real estate agents or mortgage brokers and get them to refer you business.

All of our business now is referred and we only deal with around 6 introducers in the whole of Qld.

Cheers Richard
richard…[Read more]

Carlos

Appreciate that. In sending Delboy his cheque i got my .’s mixed up.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Delboy

Thanks for the plug your cheque is in the mail.

Just to correct your post our website is http://www.fhog.com.au.

Wrap kits are not State specific however our Qld Wrap Kit includes a sample Installment Contract for wrapping in Qld and all other relevant documentation to comply with the UCC.

Not much good to you if you are wrapping in NSW.

We…[Read more]

Lee

Try Bellbowrie in the West which is nice.
We have just subdivided 2 separate properties which purchased for around $320,000 each and they where on 2400 sq M and 2600 Sq M.

We have sold the front house off and separately and just completed construction on the back 2 blocks.

Still purchase a nice 4 bedroom house on 1200 SqM for around $350,00…[Read more]

I totally agree with Scott.

If a dozen deals a week is a slowing market i hope things dont get busy again.

We are looking at taking on further assessors to keep up with demand.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Hi Mel

No always happy to share information.

We receive around a dozen deals a week and probably discard 50% of those as they fail our underwriting policy for whatever reason.

Out of the 6 deals left we probably will proceed on 1/2 of these a week and offer the balance to our existing investor clients.

Hope this helps.

[suave2]

Cheers…[Read more]

Gavin

Depends on the termns of your installment contract.

If the interest rate shown on your contract is a variable rate one and the Special Conditions allow for increases then simply YES. Recalculate and advise the wrappee of the new repayment.

If it is a fixed rate then NO. Lets hope if you have offered this option then you have fixed your…[Read more]

Ezy

Sell the property at say $195,000 charging the wrappee 9.25% over say 25 years.

You make your repayments at 7% on the $170,000 and receive P & I at 9.25% on the higher installment price. Put the extra monthly payment directly into your loan and repay the debt that much quicker.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is…[Read more]

Mel

You are right that the Pty Ltd Company will pay tax at the Company Rate of 30% on its profits.

If you distribute the profit from the Company to yourself you will received a franking credit for the tax already paid and only get taxed on the difference between your marginal rate and 30%.

fjficm

I think if you reread Terry’s post it might…[Read more]

Rob

I am not sure after reading your post 3 separate times whether i really understand it or whether it was just another attack at Pisces.

If you mean that one of the Big 4 will not lend on properties which are subsequently sold under an Installment Contract I totally disagree with you. We as a company have acquired over 148 wrapped properties…[Read more]

We insist that all of our wrappees obtain independant legal advice before entering into one of Contracts.

The Property Act makes provision for the wrappee to register a caveat against the property after the possession date. In practice it needs to be registered after the wrappers mortgage has been registered at the titles office.

Cheers…[Read more]

Other than a wrap my fried i think you have buckley’s

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Steve

Our offices are in Brisbane.
We have done a few wraps (148 to be exact and around another 100 on behalf of Investors)
Would happy to answer any questions you may have if you would care to email me.
Feel free to look at the web site.[cowboy2]

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a…[Read more]

Stephen

It’s a big State which part?

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Chris

I think illegal is a little too strong.
Certainly in some States you will need to be licensed – Qld is one of those.

Suggets you check first with your States Office of Fair Trading.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Misty

In Qld Terry is correct about the 12 month rule.

The other stipulation is that you must have made repayments equal to a least 10% of the original Installment purchase price.

Quiet easy to cater for this on a Contract.

Cheers Richard
richard at fhog.com.au
http://www.fhog.com.au

There is no such thing as a problem.
Just a solution waiting to be found

Non disclosure to a lender is fraud and carries heavy penalties.

I’m sure the full time mortgage brokers on the site will tell you lenders who finance properties that are to be wrapped are not exactly queueing up for your business.

Saying that we have financed the majority of our 148 wraps with one of the BIG 4 and all have been with full…[Read more]

hoarel

The simple answer is YES.

You would normally calculate your capital gain on the square meterage area of the subdivided block.

Assume that the land value of the 2 blocks is 1000 Sq M and that you sell off 400sq M. The capital gain would be calulated on 40% of the difference between the original ULV and the sale price.

I.E.

The land…[Read more]