Sorry Ollie don’t want to appear negative but did you say the yield post body corporate, insurance and Council Rates was in the low 4% and you were happy with that !!!!

I will assume your kidding as you get a similar amount in a Term deposit.

What happens when interest rates increase and the Body Corporate fees go up which of course they…[Read more]

Hi again abrogard

Yes that would not have any bearing on the deal as long as serviceability is evident.

Most investors borrow 105% + of the purchase price and don’t out any cash down.

Cheers

Yours in Finance

The unapproved Land Value shown on the Council Rates Notice should give you a good guide.

One way to reduce it would be to look at buying in another entity as there is no aggregated Holdings in Qld

When we buy a property for a client we certainly look at their Land Tax position and if necessary would suggest buying in another State.

Cheers…[Read more]

Yes 600K in a personal name or 350K for a Company, Trust or absentee owner.

Cheers

Yours in Finance

I am unsure why you would have taken out a personal loan to fund the renovations when you could have taken out a line of credit or credit card at home loan rates which would have been a lot cheaper.

We do many a finance deal for clients who are looking to renovate the property but don’t have cash to do so and of course can’t borrow the reno costs…[Read more]

Hi Demkel

Yes it certainly payable on each and every land holding in Queensland (assuming the property is an investment property).

Tax is based on the assessed land value by the Dept of Mines and Natural Resources as at the 30th June each year.

There is a threshold which varies depending on who owns the property.

Cheers

Yours in Finance

Hi Manley

No hate to say transferring the property into a Trust will not enhance your borrowing capacity in most cases.

There are many other ways to increase how much you can borrow without the added costs.

Cheers

Yours in Finance

All boils down to compliance and what documents would required.

I would not do a coded loan but lend on non coded stuff all day long.

In saying that i would never personally touch a deal at 8.% P/A when you get 1.75% / month + on your money in the non coded market.

Cheers

Yours in Finance

Hi Newgen

No reason why you couldn’t get your Broker to and order a new valuation with an alternative lender to see what it comes it at.

In fact some lenders you can choose the panel valuer or at least choose who you don’t want to do the report.

Cheers

Yours in Finance

There is no hostility at all from most members although having been on board since 2002 i see so many new Brokers come onboard with a view to seeing if they can’t attract business from forum members, flogging their wares and then moving onto newer pastures.

Consequently we monitor the contents and tones of the posts to ensure that no one is…[Read more]

orangje, Big V is not quite right as there are 2 Aussie lenders that will lend on NZ securities however will depend on where the property is located.

Cheers

Yours in Finance

Whether it is being purchased for owner occupation / investment in a persona name or whether it is being acquired in a Company name etc and not classified as falling under the NCCP legislation.

Makes a bid difference for financing.

Cheers

Yours in Finance

We refer a lot of our clients to Ron Skeggs & Associates, 275 Geelong Rd, West Footscray VIC 3012

Doug is a partner and is excellent.

I think he is on holiday this week but can be contacted on 03 9687 0933.

Tell him i sent you and i am sure he will look after you.

Cheers

Yours in Finance

Kira repeated posts like that will see your comments be edited or deleted.

In answer to the original post what security are you offering and is it a Coded or Non Coded loan.

Cheers

Yours in Finance

Hi Kathlene

Sorry i can see you clearly have not read the Terms & Conditions of the forum when you signed up.

The forum is not here for anyone to promote their own business but to assist others and generally share ideas on property.

Should members decide you offer a service they require and decide to contact you then all well and good.

Maybe…[Read more]

Hi Wanting TP

Would need a few more details but i think it is a doable deal depending on the amount of the default and who it is in favour of.

Cheers

Yours in Finance

Which part of Melbourne are you based Ben ?

Cheers

Yours in Finance

Mark all of my Ip’s are closer into the Inner City suburbs but i have financed 101 deals up in NL / MH.

Stock getting quite tightly held now and some interesting new developments when it comes to retail and business activity up that part of town.

All in i like the area and valuations holding up well.

Cheers

Yours in Finance