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Viewing 20 posts - 1 through 20 (of 11,926 total)
  • Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Dont worry Terry we have explained to KKaur that a Commercial loan could be done in personal names.

    We have also been advised that she was unable to get 7 individual contracts or indeed 1 of 4 Units and 1 of 3 Units.

    As a consequence we advised her 65% maximum lvr on a block of 7 given the regional location.

    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: 12,024

    Hi Bec

    Assuming you qualify for the Qld Grant you would receive the $15,000 plus a further $25,000 if you buy an off the plan property (Contract dated post 4th June 2020) or buy land and sign a building contract within prior to Dec 31 2020 which comenced within 3 months. If you decide to buy in a qualifying regional area you would qualify for a further $5,000. Both Grants are administered by the Qld Govt.

    At this stage lenders will not accept the Grant as sole deposit so you are going to need either 5% genuine savings as deposit or an alternative method of evidence (rent receipts etc). We are based in Milton and are certainly getting an increase in borrowers wanting to buy their first home.

    As far as properties in the 400K range my son is looking for something similar and he has been looking around the Redbank Plains, Springfield Lakes area.

    Feel free to get in touch if you need any help or assistance.

    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: 12,024

    Scott, you do sound like you are on the right path.

    Feel free to shoot me an email and i can send you an article i did with the API magazine and how i built my property empire.

    Some of the strategies may have changed over time but the concept is still the same.

    The loan structure going forward is important in order to maximise your deductions.

    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: 12,024

    Kkaur, Treated as a Commercial loan so you will be back to 65-70% Max lvr.

    Location will be important as if regional will be less than that.

    Unlikely they are going to allow split contracts so going to need to be funded inline.

    Would need a little more information to give you a more accurate indication as to fees, rate 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.

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi Dale

    Sorry to hear about your wifes situation.

    Borrowing in your personal name means the loan is Coded so would involve any potential lender to undertake a full servicing to ensure the loan was not unsuitable. Also means the lender needs to hold an Australian Credit License.

    A Coded loan requires interest payable monthly in arrears and cannot be capitalised.

    Ok probably not one for us then. Good luck.

    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: 12,024

    Is it an owner occupied property or investment ?

    Is the borrowing in your personal name of a Company ?

    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: 12,024

    Hi Chetnik

    I am assuming from the post that you intend to knock down the existing house and then construct 2 new dwellings on the land.

    If this is the case the Tax deductibility would normally be based on the sq metre of each dwelling and is likely to be an interest only loan during construction.

    As far as structure is concerned we would need a little more information to provide a suitable response.

    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: 12,024

    Yes they sure have.

    https://treasury.gov.au/coronavirus/homebuilder?fbclid=IwAR0IpHWk0adxthwdH5xGm_yvrbx5Uv1m2LQ_yXv4bV1H6_N6RNGTvT66SZU

    This should get you going.

    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: 12,024

    One of the qualifying criteria is borrowers need to be Australian Citizens.

    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: 12,024

    Personally as a Licensed Agent i wouldn’t allow my team to take a listing at 1% plus GST as i value their time a lot higher than that.

    I have 2 full time sales agents working out of our Noosa office and 5% of the first $18,000 and then 2.5% is standard even on the higher priced properties ($10M upwards).

    If you find someone who is prepared to take the listing at 1% and you are happy with them go for it.

    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: 12,024

    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: 12,024

    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: 12,024

    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: 12,024

    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: 12,024

    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: 12,024

    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
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    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
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    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
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    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
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    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.

Viewing 20 posts - 1 through 20 (of 11,926 total)