What is the rebuild amount and the weekly rent coverage ?

Do you have Tenant default cover also ?

Cheers

Yours in Finance

Hi Henry

Are you saying the premium is $102 per year?

If so I wouldn't think about ever changing.

I would need more details to be able to give you a premium.

Cheers

Yours in Financing

To late now but depending on the numbers you could have gone 80% secured and balance unsecured.

No LMI on the deal that way.

We do this with clients a lot especially when lvr is close.

Cheers

Yours in Finance

Which State are you looking at startiing in Syke ?

Cheers

Yours in Finance

Course depending on which State the property is located in taking a large deposit off the purchasers may cause you more problems than it is worth.

Legal consequences of such.

Always consult a professional before under doing anything.

Cheers

Yours in Finance

Hi U & C

Welcome to the forum and good to have you make a comment or two at last.

In my business i seem to spend more and more time mentoring clients who are wanting to build a property portfolio but i have to say it is never a matter of the advice for one being the same for another. 

Half the battle for any property investment adviser is…[Read more]

Sorry don't want to appear unfriendly but that is intellectual information and like the Contract we use wouldn't be releasing it in the marketplace.

Cheers

Yours in Finance

Absolutely no point at all.

Just focus on the job in hand. Valuations are commissioned by lenders as part of their risk analysis.

Instructions are given to valuers on what basis to value a security by the lender and for their purposes not yours.

Cheers

Yours in Finance

As above however Yes the insurer can certainly influence both the type of valuation and who does it.

I have a deal for a forum going thru at the moment where the insurer has requested a 2nd valuation be undertaken as there are a couple of things they are not 100% happy with.

Lender redid it but did a driveby and insurer now wants it redone to a…[Read more]

Jeykoy, as JacM above mentioned why not look at doing both or buying an IP without using any of your own money.

We have helped hundreds of forums members of the last 12 years buy both at the same time without crossing their loans or using any of their own savings.

It is all in the structure of the deal.

When i arrived in Australia i purchase an…[Read more]

Would be running a mile on such a property.

BC fees equate to nearly 11 weeks rent and then you have to add on Council Rates and Water utility charge.

Morayfield has a poor track record when it comes to vacancy and the costs associated with gated communities just never go down.

Gross return might look good on paper but can be expensive when the…[Read more]

Matt,

If the property is initially to be a PPOR and in the future an IP you would probably be best off with an interest only loan with 100% offset account.

You do this on a fixed or variable rate depending on what you need from a loan.

Get yourself professional advice as making a mistake can be costly in the future.

Cheers

Yours in Finance

You can insure against anything these days include unemployment, redundancy, death etc however it all comes at a cost.

All depends if you want to one live off your rental income one day or merely float along with the herd.

Nothing wrong with the later but sometimes you had to expose yourself to some element of risk to move forward. 

Getting up…[Read more]

We have used Excel on our VF deals since 1996 and never had an issue.

At our peak our Company First Home Owners Group Pty Ltd had 180 properties and never had a problem with Excel.

Save your money and put it into the next deal.

Cheers

Yours in Finance

Sure they review the rent but they don't put it up.

You are require to prove to them that the market rent has increased by gaining rental comparisons and if necessary a full rental valuation.

Other issue as Jamie mentioned is many lenders do not like leases longer than 12 months and signing a 9 year lease could be a breach of your mortgage.

Get…[Read more]

Hi Tom 95% Lvr and more……………..

Cheers

Yours in Finance

Love to attend Victor but hate to say i don't meet the age limit lol

Cheers

Yours in Finance

Yes all looks ok but i have to say sounds amazing to me that your Westpac Home Loan manager has told you "She will be right mate"

He / she has can add no weight when it comes to the credit scoring process or application itself.

I would be using a lender that individually assesses each deal. 

With a good explanation of each of the credit entries…[Read more]

Yes you are missing the point.  

Why would reducing your Tax bill and putting pre tax dollars into your SMSF limit your borrowing?

If anything it will increase your borrowing as your SMSF as JacM has mentioned earlier can invest in property with reasonable gearing.

Cheers

Yours in Finance

In the main Display Homes are treated with caution when it comes to security as far as lenders are concerned.

There is the odd lender who doesn't have a problem but make sure you are not paying a premium for the property.

Your Broker should be able to give a few options.

Cheers

Yours in Finance