Personally i would never buy a property that is loosing money from day 1 and rely on the fact that it might grow in value as i prefer some guarantee on return.

By following your strategy with each new purchase you are reducing your borrowing capacity accordingly and this will of course limit your wealth accumullation.

Also unless i own the whole…[Read more]

You will not be able to finance a construction loan component without the existing owners being a party to the new loan and that they may not wish to do.

Couple of considerations but can be done with care.

Cheers

Yours in Finance

Hi Benny

No sorry i can't say i have because i haven't read Steve's new book.

Word of warning though remember anything more than 10% deposit could make the purchase an installment contract and this has consequences for both sides.

Cheers

Yours in Finance

DM remember just because the unit may not have gone up in value you may still be liable for CGT.

Reason your lender has asked for a cash injection is because the loans are cross collateralised and is this is an investors nightmare.

As JacM has mentioned we have a lot of forum clients with less cash / equity than you so absolutely no reason why…[Read more]

CGT not triggered until subdivided land under contract.

Few good articles on Ban Tac Accountants website which are worth a read. http://www.bantacs.com.au/

Cheers

Yours in Finance

Rather meaningless post as too many variables.

I personally receive 1.3% discount off the SVR with Anz however my portfolio has a value of > $26M and a loan exposure of 776K all on a P & I basis.

As this is not the average investor course it is immaterial.

Interest rates are fairly low down on the pecking order of features for successful…[Read more]

Sorry Hari I have to disagree with a lot if you comments and can only assume you are a fairly in experienced investor.

Lenders never protect the Buyer they protect themselves and their own risk.

In the majority of cases the lender appoints a third party agency to instruct and co-ordinate the valuation so the Broker gas no contact with the Bank…[Read more]

Surely your Solicitor would have reviewed the Contract before you had signed it anyway.

Your Broker won't ( hopefully) provide legal advice but should be able to tell you whether the loan will proceed or not fairly quickly.

Cheers

Yours in Finance

If it is the Aussie branded / funded Advantedge product then Yes you will certainly be able to have the monthly interest repaid from your CBA transaction account.

Cheers

Yours in Finance

As Colin said via your Aggregator.

Personally I am with FAST so get charged a fee per deal but understand AFG charge 20%.

Cheers

Yours in Finance

Ardmore if you structure the first loan correctly you should be able to buy again fairly quickly even with limited savings.

Some lenders will allow you to borrow 95% + LMI plus offer a further secured line of credit to cover renovation costs or funds for future deposit etc etc.

The cheapest interest rate is not necessarily the best move in the…[Read more]

Hi Will

Have to agree with with Colin I would never take a fee merely for access to a particular lender or 4.

Cheers

Yours in Finance

Duckster,

I believe the poster is referring to Depreciating the internal fixtures and fittings under the Div 40 legislation and not the Capital Allowance claim under Div 41.

Cheers

Yours in Finance

Yes as Jamie mentioned do a search on the name and also on the forum and i think you will see more than a few client responses.

Cheers

Yours in Finance

Cool H i think you have misunderstood your Accountant.

Depreciation is a non cash deduction and certainly won't push you into the next Tax Bracket

Capital Allowance is the same although unlike Depreciation if you claim it now you reduce the Cost Base of the property by the same amount if and when you come to sell it

I.e Assume you claim $20K in…[Read more]

Sure let me check with him first he is ok in me handing them out and then more than happy to do so.

We keep him more than busy at the moment.

Cheers

Yours in Finance

Really Emma

What lender is happy to lend on the higher of valuation over purchase price ?

Cheers

Yours in Finance

Yes ASIC fees are $444 with no GST charged so a little less than $500.

In my opinion $1750 is expensive but i guess it all boils down to what your profit margins are and what you need to charge your clients.

We feel that $950 + GST is perfectly adequate compensation.

Cheers

Yours in Finance

Wow Redwood $1750 is that what you guys charge for a LCBA.

And there was me thinking our $950 + GST we quoted a forum client last week was a but steep from our Lawyers.

Cheers

Yours in Finance

Hi rc888

Yes interest is deductible based on the purpose the funds are to be used for irrespective of the security used.

Any other loan costs incurred as a result of the equity loan are also deductible over the term of the loan or 5 years whichever is the lesser.

Cheers

Yours in Finance