Hi Chetnik

Yes sure but that assumes you buy your next IP before the PPOR.

If you do it the way they suggested you will either incur LMI or have to put cash in on the next IP deal which doesn't make any financial sense.

Buying your PPOR and structuring the way i suggest means you use none of your own funds for the next IP at…[Read more]

Hi Chetnik

Would be very unlike a lender to tell you can get a better deal elsewhere or structure the loan in a manner more favourable to you than them.

I have to query why they would suggest what the have.

When we work with forum clients in situations like this we try and work backwards.

Let us assume that you intend to buy an IP for…[Read more]

I assure you a mobile lender with any Bank would not be earning anything like that unless they are setting records week in week out.

I have been in the industry over 22 year both in the UK and in Oz so have built up a sizeable trail book but as Jamie mentioned you aren't going to do that in the first few years.

Many lenders do not pay trail in…[Read more]

Hi Benny

It is a good point you make but couple of considerations;

1) Westpac will not allow it some lenders will but they are not one of them.

2)  Seller may have his loans crossed collateralised or owe more than 80% or may need more than this to move onto the next deal.

Doable but needs a rethink on strategy.

Cheers

Yours in Finance

Hi KSJA

Firstly welcome to the forum and i hope you enjoy your time with us.

Fear not no question is a silly question and this is what the forum is all about learning from others.

Anyway here goes:

1) Am I right to say the amount of interest-only repayment are calculated based on the amount I owe the bank, so any equity growth will be…[Read more]

We submit for our clients a full offer including purchase price, deposit, settlement date and all terms and conditions etc.

Never leave your offer on the table too long.

Also why do you want to avoid LMI ?

It is an opportunity cost and gives you flexibility for the next IP.

Your Broker should be advising you on these matters.

Cheers

Yours in Finance

And there are a couple of others also.

Cheers

Yours in Finance

All of this is good advice assuming that when you demolish the property you have sufficient cash reserves as your lender will only lend against land value.

If your initial loan was based on the purchase price / valuation then you may be in for a financial shock.

Cheers

Yours in Finance

Hi Jay

Yes for all if our UK clients we do then as second homes as it a skip and a job out of Heathrow.

Cheers

Yours in Finance

Florida Mortgage Corporation have been offering Non Resident loans since the 90's and never really stopped over the GFC period.

We have done dozens of deals with them for a lot of our UK clients.

Cheers

Yours in Finance

Hi Jotham

Firstly welcome to the forum.

You mention you are wanting to spend circa 450k yet want something near the CBD.

My deduction would you are seeking a unit and to be honest if you were a client of ours I would talk you out it.

There are some excellent inner city suburbs ( although I am slightly biased as nearly all of my properties are…[Read more]

Of course another thing you have to remember is that your flight costs, hotels, meals bike hire etc for flying up to visit the properties is not Tax Deductible.

Cheers

Yours in Finance

Personally I wound not self manage although I have a few more properties to think about.

Guess I can sort of understand why you would look to do it from a cost perspective but if you intend to be a serious investor the costs are small fry.

Nothing to stop you using a PM to merely find the Tenant for you and you take over the day to day…[Read more]

To be honest for the right Commercial security not much has changed as far as Rates in the Com sphere since the last post.

Cheers

Yours in Finance

Must admit i am searching why the Broker would ever put the deal to Westpac in the first place but there may have been method in the madness.

Anyway think it is very unlikely they will change their decision so matter of starting again.

No lender cares about your individual business as you are merely a number to them.

In saying this some lenders…[Read more]

Hi Chris

Welcome to the forum and I hope you enjoy your time with us.

All i can comment on with accuracy is the level of enquiries both on our Finance side and Buyers Agency. 

In both cases we have received more enquiries from both new and existing clients in the first 3 weeks of 2014 than at any previous 3 week period in the last 2…[Read more]

Ask your Accountant if 2 x sworn letterhead valuations from Real Estate Agents would be acceptable.

Cheers

Yours in Finance

Hi Ginger 

Why not try someone like Depreciator   www.depreciator.com.au.

Just come off the phone from ordering one for a forum member.

They are very Professional and excellent to deal with.

Cheers

Yours in Finance

Hi Gayle

Hate to say hear it all day long from other clients.

Stick with who you have in your corner. Might be old an grey but straight as a die and I don't drive a bus lol.

Cheers

Yours in Finance

Hi AAQ

Yes got back from UK mid last week.

Agree with Jamie.

Personally i would have given them to the valuer directly rather than thru the lender as you have no way of knowing whether they ever got to the right hands.

Fingers crossed it works out.

Cheers

Yours in Finance