We have financed a number of deals down in Southport over the last few months as my Accountant is Southport based.

Whilst we are seeing some real discounting come into the market i would like to say the GC market will improve and strengthen on the back of an improving Qld economy as well as the forthcoming Commonwealth games.

I can't comment…[Read more]

Hi Hank

Any competent Broker should be able to do it for you.

We certainly offer it as a service to all of our investor clients.

Cheers

Yours in Finance

Wilko Commercial lending is totally different and to borrow against the valuation is often acceptable practice.

You would normally only borrow against valuation on a residential property where it is a favourable purchase.

Cheers

Yours in Finance

Yes would be certainly payable in Qld.

Cheers

Yours in Finance

Really Thread another valuable contribution.

Thankfully some of us give back and we are not all in it for the money.

Cheers

Yours in Finance

Given their current servicing levels wouldn't be a lender you would touch at the moment irrespective of the credit policy.

Cheers

Yours in Finance

Hi Hank

1) No you cannot use the assumed equity  as deposit. Lenders advance against purchase price / valuation whichever is the lower. (Course off exception)

2) There are a couple of ways around saving up for a deposit each property however it does take correct structuring from day 1.

Cheers

Yours in Finance

Hi Luke

Yes they would be claimed as an expense in your Australian Tax Return.

Your US income would be declared however you would get a credit for tax paid in the US.

Cheers

Yours in Finance

Hi Ben

Can i ask you what State the property is in ?

Hate to say the legislation is different in each State.
 
Cheers

Yours in Finance

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

Can i ask you what lvr you are looking at for this investment property purchase?

Are you wanting to use cash savings for your acquisition costs and renovations.

Reason i ask is most investors prefer to retain their cash for their next IP Purchase and there are a couple of tricks…[Read more]

90% lvr would be available thru a variety of specialised lenders. (Pepper is just one of them)

You can refinance to a cheaper rate once the credit is cleaned up.

Could also have a look at getting the defaults removed.

Cheers

Yours in Finance

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

Yes fairly simple transaction although you will be up for stamp duty etc.

Also make sure the Transfer goes thru at Market value as otherwise your parents might have issue in trying to claim Centrelink benefits.

Should be able to borrow all of your costs.

We are doing a similar deal…[Read more]

Hi Amit

Well if that's the case they are overcharging you.

We charge $4950 + GST irrespective of the purchase price.

Cheers

Yours in Finance

Agree with Jamie their is something up here.

Don't get me wrong I have nearly a dozen SMSF deals with AMP Bank and they are so far behind it us not funny.
ME Bank and others are out to 8 days + due to the volumes going thru.

Suggest you get your Broker to make some calls and see if the deal can escalated.

Cheers

Yours in Finance

Hi David

Yes we locate these sorts of properties for our clients all day long.

Sure takes some time and many years of in depth research & knowledge (which my business partner looks after).

As long as the town is big enough in population and acceptable to a lender then it is certainly doable.

Cheers

Yours in Finance

Which State are you in ?

Cheers

Yours in Finance

Sorry Bought with Equity but that is certainly not a sounds investment strategy.

Why would you pay cash for a property that you intended to rent out and then and go and borrow again to buy again for a new PPOR.

The interest would not be deductible on property 2 as it was for a PPOR and yet you would taxed on the rental income being received from…[Read more]

Thankfully this isn't the USA.

Cheers

Yours in Finance

Hi Benny

Not sure which part of Brisbane your investment properties are located but mine which are mostly in the Inner West suburbs have gone thru the roof recently.

I listed a block of 6 units in 1 line for Private Tender a month or so back and was stunned by the response i got.

Some of the Tender offers were $200K over what i estimated the…[Read more]

Bought with Equity, foreclosing on a property which has been sold thru Vendor Finance I.e Installment Contract, Deposit Finance is not quite that easy.

Firstly being a Credit contract you need to be Licensed to offer such a product and then it falls under the NCCP legislation.

This is exactly the same legislation which standard High Street…[Read more]