Whilst with most lenders you will need to not only to have saved a 10% deposit but also be able to cover your acquisition costs (In Qld these are not cheap) there are a couple of loan products which might suit especially if you are then looking to buy another property shortly after.

Cheers

Yours in Finance

Sam, your story is a classic situation many self employed clients experience.

A decent Broker will be able to give you the options and alternatives as not all lenders requirements are the same.

Cheers

Yours in Finance

Alternatively you could look at taking an option on the property and then look to sell the option 

Of course if they are distressed properties it is unlikely that you will be able to get the Vendor to agree to such a contract and also in some States Stamp Duty will be payable.

Becoming a fully compliant Buyers Agent might take more than a few…[Read more]

Employing someone won't get you out of being licensed as you are the one offering the credit terms.

Cheers

Yours in Finance

Are you licensed to offer such form of credit terms ?

Cheers

Yours in Finance

As Darryl mentioned many different Councils in Qld.

A few i can think of would allow it however others it would be a flat out No.

Cheers

Yours in Finance

Hi Makkdogg

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

It is a question i get asked by nearly every new client and one i normally answer with the same response. Why not purchase both !

Depending on your current savings and income there is no reason why you couldn't do this.

Structure the loans correctly so i you do…[Read more]

Hi Makkdogg

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

It is a question i get asked by nearly every new client and one i normally answer with the same response. Why not purchase both !

Depending on your current savings and income there is no reason why you couldn't do this.

Structure the loans correctly so i you do…[Read more]

Hi Makkdogg

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

It is a question i get asked by nearly every new client and one i normally answer with the same response. Why not purchase both !

Depending on your current savings and income there is no reason why you couldn't do this.

Structure the loans correctly so i you do…[Read more]

Hi Chardie

I have strata titled 43 blocks here in Brisbane over the last 16 years and still own 3 large blocks in my portfolio.

Regretfully the days of 4 units and under being treated as a residential loan is almost a thing of the past with only 3 lenders adopting this strategy.

In saying this if there are some good comparative sales then we…[Read more]

Would never do my own as mine are just too darn complicated.

My Accountant is a property expert and worth every single dollar.

Cheers

Yours in Finance

Sorry Ivan have to disagree there.

As SMSF Specialists we have assisted many a forum client to purchase a property for less than 200K.

Capital Growth is one element however you cannot retire on capital growth unless you realise the asset which could (depending on whether you are pension or accumalation phase) trigger a CGT event.

We focus on…[Read more]

All of my investment properties are in Brisbane with one on the Gold Coast and i must admit the vacancy level is nil and has been for the last 6 months.

Even when one or two of the units have become vacant due to their inner city location we have had a dozen applications for each unit.

Certainly at the moment every 6 months you can look to…[Read more]

Hi jary

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

A couple of the previous posts have set out the description of a positive cash flow property.

Remember there are many ways to compensate for a property that on the surface appears negatively geared.

When we work with clients we look to balance higher yielding…[Read more]

Hi Mgs4

Yes you could certainly market the property to investors however remember if you intend to offer them either an instalment contract or second mortgage carry back for the deposit you need to hold a credit license other wise you are breaking the law.

Cheers

Yours in Finance

No Tom won't help you at all.

They would be the ones you would need to be Licensed.

Cheers

Yours in Finance

Hi Kev

Would you like to spell that out in English and we can assist.

Cheers

Yours in Finance

Totally agree with Jamie as a major they are as good as iit gets in regards to their all round policy.

Oh and by the way just to clarify what Colin said. "Yes Anz will accept 1 years Tax Returns for servicing however they do require 2 Years ABN".

No lender is going to be too enthusiastic in financing a short term deal anyway so might have to…[Read more]

Hi Alexia

As Jamie mentioned and then the cream is you get to claim the interest on the LMI premium for as long as you own the property and have the loan.

Cheers

Yours in Finance

Hi Tom

As i say with only 25K available i can't see you if doing 1 deal.

LMI is not available on a wrap deal so it would mean you have to put in a minimum of 20% of the purchase price.

Even with your fathers 150K LOC the property would need to be in your name as he couldn't offer credit terms without a license.

When i started First Home Owners…[Read more]