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Viewing 20 posts - 1 through 20 (of 11,917 total)
  • Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Just be aware Vendor Finance is now illegal in several States in Australia.

    Cheers

     

    Yours in Finance

     

     

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    What you mean like propertyinvesting.com ?

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Rent to Buy and Vendor Finance now banned in several States in Australia so ensure you are operatng legally.

    Cheers

     

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    As a result of recent RBA interest rate falls we have now dropped the interest rate on this product to 3.85% plus a 2% or 2.5% Management Fee (dependant on whether the LVR is over 80% or not) and hit our 100th settlement.

    Certainly the response from borrowers, brokers and other intermediaries has been excellent.

    Here’s to a good start in 2020 and further rate cuts for Super Funds.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Given Vendor Finance is now illegal in 3 States of Australia I doubt the course has much value these days.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    We have been offering our 90% NO LMI SMSF product for the last 3 months and setted over 20 deals so far with another dozen + in the pipeline. At the monment we only offer it thru Finsure Brokers one of the Aggregators we are on the panel of. It is also only offered in Qld, NSW and ACT.

    They also have our No Deposit investment loan (Qld brokers only) and again has been a game changer.

    The SMSF is a nodoc product and doesnt fall under NCCP.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,018

    Terry you are correct as we all now that the slightest hiccup means LMI delcine the deal as they dont need an excuse

    We have been piloting both the SMSF product & No deposit for investors for the last 3 months and certainly picking up momentum.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Ian, happy to email you the product specs if you want to PM your address.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Yes product was launched in June after Cooper Grace Ward signed off on the product and to date we have settled about 30 deals.

    At the moment we are getting a deal a day in from our Broker network.

    The product is a SMSF Rent to Buy.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,018

    Chris, As a Non Resident you wont get ANY UK lender to provide finance on an investment property.

    I have a property in the UK and a UK Bank Account having been born and bred there and even i can’t get finance.

    You thought it was hard to get Finance in Australia as a Non Resident well the UK is even harder.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,018

    Hi Matt

    The facility is not an SMSF loan and therefore does not fall under the LBRA rules.

    It is done by way of a direct lease agreement with the SMSF and therefore has greater flexibility as well as considerable Tax advantages for the SMSF in the long term.

    We have spent a considerable amount of money with Cooper Grace Ward ensuring the product is both ATO & SISA compliant and the launch has been overwhelming. To date, we have settled around 22 applications with another dozen or so in the pipeline.

    Recently changes in VIC legislation concerning such arrangements have temporarily restricted Victoria but NSW, QLD, ACT & WA we are assessing deals daily.

    Hope this helps.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,018

    80% or even 85% with 1 lender available however interest rates certainly have not come down too much.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,018

    Are you PAYG or Self Employed ?

    If self employed and have your last 6 months Bank Statements then depending on what industry you are in there are a couple of lenders who may look at but won’t be cheap.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,018

    Hi Brizza

    Yes certainly is and how most investors go about it.

    Trick is however to avoid cross collateralising your loans.

    Normally you would draw upto 80% of the value of the first up and use this as deposit for number 2 but just running your numbers you are going to be well over 90% lvr inclusive of stamp duty and that is likely in the current climate without paying a premium on the rate and LMI.

    Might have to go to between 85-90% on IP 1 and try and reduce the Lvr on IP 2 thus reducing the LMI.

    Probably of matter of your broker working backwards and see what you need to come up with and then what is available.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Due to popular demand we are launching our in house SMSF loan product with no liquidity and no minimum fund balance.

    It is a lodoc loan so even if you are self employed and the lvr and property asset is right you will be considered.

    Even if a new Labour Govt carry out their threats and withdrawn LBRA’s the product will still strive.

    Just waiting on legal opinion post an ATO PR to release it to the market but certainly if initial inquiry is anything to go by there will be no shortage of takers.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Sure Debshe will back on shortly to tell us they have now helped her pay off her home loan in full and she doesn’t pay any tax at all due to their teachings even in insolvency.

    Maybe they were busy saving everyone else Tax they forgot about paying their own to the ATO.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Unless you are existing accreditated introducer Macquarie isn’t taking on any new SMSF’s now let alone June.

    Still several other SMSF lenders and some interesting post LBRS products in the pipeline.

    Cheers

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Hi Craig

    We have our own white label SMSF product which is a leader in the SMSF market.

    Certainly an area we see lots of borrowers come unstuck.

    Drop me a line if you would like me to get one of credit officers to email you some product specs.

    Cheers

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Post Count: 12,018

    Big difference between an Expat and a Non Resident.

    As an Expat you can purchase a second hand property so have the opportunity of purchasing below market value like the rest of us. If you are looking at flipping the property then certainly doable but need to consider the Stamp duty implications and other associated costs.

    Cheers

    Yours on Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Hi Dave

    Doesn’t surprise me we see it all the time with the big 4.

    Would need more information to be able to advise you further but you are likely to be limited to circa 75% lvr depending on the size etc.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

Viewing 20 posts - 1 through 20 (of 11,917 total)