Hi JP

Good to have you on board.

Wow 1 out of 81 apartments in the block i am not sure that you will get much capital growth if you are competing against 80 other owners in the event that you need to sell the property. 

Are you sure you are not paying a premium for a new property.

Often you are better off in buying something existing with a…[Read more]

Assuming you hold a Credit License or an Authorised Representative of someone else who does you need to comply with the NCCP legislation.

You are required to provide the Buyer with a copy of your Credit Guide, Credit Propsal Disclosure and then have them sign the Preliminary Assessment you have prepared and ensure that you can justify the reasons…[Read more]

Hi Jack

Darryl prepares all of mine and legislation is National.

Difference is the Call Option inside the Option Contract relates to the State where the security is located.

Cheers

Yours in Finance

Probably have a slightly different view to the boys as my investment debt is less than 5% of the property values so needless to say the rents are extremely positive and more than enough to live forever and a day.

Capital Growth is important however assuming we see a general slow down in the overall property market for a period of years you need…[Read more]

Hi Simon

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

As long as you are a PAYG employer and not a Director then there should not be any real issue. 

If you are on a probationary period then this may cause issues with some lenders but all depends on whether what you do was aligned to your previous…[Read more]

Nathan, no in the main going to need 20% as LMI won't accept a TD as security.

The TD would be held as security so you wouldn't be able to use the funds during the period but of course when it was released 100% of the existing loan would be Tax deductible.

If this is not an option make sure you shop around as LMI premiums for FTB's do vary…[Read more]

Hi Nathan

Couple of immediate suggestions.

You could look at borrowing 100% and using a Term Deposit as collateral security and that could help or alternatively going 100% fixed and offset account at the same time.

You are correct that you need to occupy the property for 12 months in order to qualify for the concession rate something that a lot…[Read more]

Hi Blake

I think you are getting slightly confused as the 2 are totally unrelated.

You don't require a Company to hold a ACL.

Secondly i think you are referring to the Company having a Corporate Trustee.

If so and you have considered all factors of the business then certainly no reason why you wouldn't get that route.

Cheers

Yours in…[Read more]

I agree things seem to go from bad to worse.

Definitely get yourself urgent legal advise as your comments have outlined some real potential concerns.

Cheers

Yours in Finance

Hi Rus

No they will want information information on all of your own personal assets and liabilities. In norm where you own other property joint with your wife or other party they will allocate 50% of the rent (assuming it is an IP) and take 100% of the loan liability i.e PPOR repayment.

Hence the reason to ensure it is structured correctly with…[Read more]

Ok Terry take your word for it although entirely convinced as Darryl is a pretty smart cookie.

Where is he when we need him to defend us Qlders.

Cheers

Yours in Finance

Newbeez I certainly wouldn't be relying on a website to tell me what documents you should be receiving from the Vendor.

Your Solicitor should be advising you on what is needed and reviewing them thoroughly before you sign them.

I assume you are joking about undertaking a sprinkler test as there are 101 more important areas that need checking…[Read more]

Hi Rus

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

As Terry mentioned the normal recommended way is to take out a Line of Credit or equity loan against your existing securities and use these funds to as deposit and acquisition costs for the new investment property being purchased.

After a couple of years we revalue the…[Read more]

Hi Terry

Was talking to Darryl from Hua Lawyers only this week and he tells me he could not act on a conveyance for any of our Buyers Agents clients we put into either NSW / Vic properties. 

Cheers

Yours in Finance

Sorry Tom you say use Vendor Finance strategies.

Do you mean to buy or sell using such.

Probably aware that if you sell a property offer Vendor Terms you are required to be Licensed.

Not trying to be clever just trying to see exactly what you need so i can make a suitable recommendation.

Cheers

Yours in Finance

Richard happy to refer you to my Accountant.

I think JT7 has already given him a plug in an earlier post.

Steve Hodgkinson – Gold Business Group Southport.
Expert on property structures and top bloke to boot.

Cheers

Yours in Finance

Hi Al

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

Certainly it is one that needs some careful loan planning in order to achieve the required long term outcome.

Whilst you are normally considered as jointly and severally liable for the entire loan remember there are some lenders who service the loan slightly differently and if…[Read more]

'All banks standard mortgage terms will have All monies clause"  Sorry i disagree there and if a Bank wants your business badly enough it will change anything.

Totally disgree with the structure but that is upto you.

There are other ways to achieve what you wanted without mortgaging your PPOR to the hilt.

Cheers

Yours in Finance

Oh really Terry.

NSW & Vic operate under the code then. Unlike in Qld when a Qld Solicitor cannot act outside the State unless he is licenced to do so.

Cheers

Yours in Finance

We use Direct Insurance Brokers in Stafford they do all of mine.

Sure you might be able to get something a few dollars cheaper but that's not the point in the long run.

Talk to Matt, tell him i sent you and he will look after you.

Cheers

Yours in Finance