Not quite as simple as all that post NCCP but with the right lender Yes it can be done subject to a maximum lvr of 80%.
Cheers
Yours in Finance

Have to disagree with your Broker.
No set time although often hard to get valuers to place a higher valuation figure on a property (over and above land + construction) within 3-6 months.
It is going to depend on who the lender is and the panel of valuers they use amongst other things.
Cheers
 
Yours in Finance

As Terry said.
One of the beauties in Qld is there is no Stamp Duty payable on the Call Contract.
If I was a seller I would be wanting a deposit to cover me if you decide not to take up the Option. I would also be expecting you to cover my legal fees as well.
We have done many an Option Contract in Qld but these tend to be on the bigger…[Read more]

Chris is correct you would need to be a Buyers Agent to offer such a service.
Depending on the purchase price / location we charge a flat fee or a percentage upto 2.5% of the purchase price.
Cheers
 
Yours in Finance

Hi Irene
Firstly welcome to the forum and i hope you enjoy your time with us.
In essence when you purchase an investment property you are probably going to need 10% deposit and another 6-8% to cover your acquisition costs.
You have limited equity in your own home and i think you would definitely need to apply some of your cash reserves to…[Read more]

The idea has been around for more than a few years now and is very popular in the mining areas of Western Qld.
We had a few on a site of ours other side of Roma which we did nicely out of.
Not sure how you would go trying to one an empty block in Balmain as the locals might object but ideal for the Country areas where accomadation is needed and…[Read more]

Hi Carl
I am also a little confused as to the post.
Business Finance is something that most of the Banks pulled out of post NCCP and GFC and therefore is more of the domain of the private lenders.
In saying this of course a private lender is still going to want some sort of security whether it be a second mortgage in your PPOR or an IP or a…[Read more]

LSP wouldn’t everyone like to know.
Hate to say we run a Buyers Agency operation and my business partner who is a long standing former member would divorce me overnight if I started publically starting where we are buying for our clients.
Cheers
Yours in Finance
 

No i prefer 5-6% rental yield and 5-8% capital growth with low price risk.
That is why we are not putting clients into Brisbane
Cheers
Yours in Finance

Nor me Jamie.
<span style=”line-height: 1.5em;”>Went to a National Conference a fortnight ago attended by the Heads of Mortgage Lending for the top 6 Banks and the question of LMI portability / refund was bought up.</span>
<span style=”line-height: 1.5em;”>All of them </span><span style=”line-height: 1.5em;”>unamoniously stated it wouldn’t…[Read more]

Little Stone i don’t own any properties in Brisbane CBD.
All of mine are in the Inner West suburbs (Toowong, Taringa) as well as Inner North in Clayfield, Nundah etc
I don’t feel getting 5.5% Gross return and then paying Body Corporate fees to be a good investment.
We are not putting any of our clients into Brisbane at the moment.
Cheers
 
Yours…[Read more]

Good luck in getting NAB to send you a cheque for the refund.
Remember the LMI is not taken our for your benefit but for the lenders and you incur the cost.
Cheers
Yours in Finance

Arun we went 20% in the end.
Cheers
Yours in Finance

Gerald yes you can do it at the same time.
We have done 2 applications this week for forum members where we settled the refinance on 1 day and lodged a pre-approval application the same afternoon.
Cheers
Yours in Finance

Hi Michelle
Hope you are keeping well.
Have to say you are correct and there is no requirement to set up a Strata for the common area.
Can’t remember the full details of the property but you will probably find that the land has access easements on it which is common.
Just ring a good General Insurance Broker and get a quote or two.
Cheers
Yours…[Read more]

Shank just make sure you understand that any Div 43 Building Write Off that you claim is deducted from the Cost Base when you sell it so if you are thinking of selling remember the cash flow effect will be limited as the CGT will be higher when you realised the asset.
Great believer in holding property for the longer term and building your…[Read more]

Not convinced i would be rushing in to Brisbane either.
Whilst 99% of my properties are in Brisbane we are certainly not putting our clients into the City at the moment.
There are better low risk areas for both growth and cash flow.
Cheers
 
Yours in Finance

As far as LMI is concerned it is deductible over 5 years or the term of the loan whichever is the lesser although in Year 1 it is claimed proportional to the number of days the asset is held in that Tax Year.
Glen if you intend to rent the property out you maybe better off to borrow 100% and utilise your cash savings as collateral security.
That…[Read more]

Certainly strategies 1 & 3 require a combination of indepth knowledge and a wee bit more than 300K so if you are happy to start in property then #2 seems to be the way to go.
In saying that I have to say i am not sure i would be rushing into buy in Perth at the moment as we are certainly at a market high. There are a lot better areas to dip your…[Read more]

Borrow 100% of the investment property value and keep the balance of funds in an offset account or look at getting 1.5-2% / month on your money and adding to the offset account as you go.
Cheers
Yours in Finance