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  • Profile photo of Richard TaylorRichard Taylor
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    April 15, 2011 - 8:27 am

    CHR hate to say that has changed.

    If you subscribe anyone can access RP Data not just an Agent.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 14, 2011 - 6:53 am

    In some States it will be cheaper to transfer the ownership prior to making the property an investment property.

    This varies in each State so check with the local OSR.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 14, 2011 - 4:05 am

    Ben you just get to learn who to deal with and who to steer clear off. 

    DD is important and if you have a good rapport with your BDM and you feel that they can genually add value to your business by getting things actioned then they are worth getting to know. So many BDM's are like wooden puppets and we dont even let them through the door.

    As the buys said to be arning $150K and then having expenses come from that well i think i would be spending my money elsewhere.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 14, 2011 - 12:48 am

    Hi Bill regretfully not.

    A separate Trust is required and most lenders require a Corporate Trustee anyway.

    Cheers

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    Richard Taylor | Australia's leading private lender

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    April 14, 2011 - 12:46 am

    Hi Closer

    Yes done correctly the Unit holder can claim the negative gearing deductions.

    I have done hundreds of such transactions for forum clients over the years.

    With the right lender and structured correctly you wont have an issue in borrowing in the Trust name with a competitive rate and set up cost.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 13, 2011 - 11:18 pm

    Heh Jamie

    I am jealous you dont have as much grey hair as me lol

    Well done mate.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 13, 2011 - 10:37 pm

    Closer,
     
    Selling the property to a Family Trust wont help you claim the negative gearing deductions as losses are closetted within the Trust itself.

    You would be better off to sell the property to a Unit Trust structure with you holding the Units.

    Cheers

    Yours in Finance 

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 13, 2011 - 4:47 am

    Bill remember if you purchase 2 individual properties you will need to set up 2 separate Bear Trusts.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 12, 2011 - 1:02 pm

    There is no Tax on gifts so that is out.

    If you intend to stay in your current property forever and a day then pay down the principal but if there is a slight chance you may 1 day move to a bigger property and rent out the current property and utilise an offset account.

    Careful planning today will serve you well in the future.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 12, 2011 - 6:37 am

    Like Michael

    Number of applications is slightly overwhelming at the moment so wont give you a full answer now.

    Save to say the No LMI on <85% lvr's is likely to have been withdrawn by August.

    The banning of exit fees will see a lot of changes take plae for lender to recoup their costs.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 12, 2011 - 4:58 am

    Kent,

    Yep good clarification.

    Cheers

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    Richard Taylor | Australia's leading private lender

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    April 12, 2011 - 4:08 am

    Hi Wade

    With only 25k equity i think you are going to struggle.

    Dont forget it most cases the GR lending will be based on Net GST sale price.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 11, 2011 - 11:21 pm

    Hate to say if your husband is 18 months out of bankrupcy your choice of lenders will be fairly limited.

    Using a Trust structure will not you around any potential serviceability issues.

    Without knowing the actual numbers it is difficult to comment but i think you will find that your husbands income is required depending on your eixting liabilities.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 11, 2011 - 1:19 pm

    All boils down to serviceability and lvr.

    Done residential you wont find a lender lend against Gross Realisation so will be subject to your overall equity / cash position.
    Remember when you demolish the house you are borrowing against land value only.

    If you have genuine pre-sale doing it Commercial might be worth considering.

    Not a matter of 1 lender fits all when it comes to small development

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 11, 2011 - 12:05 pm

    Hi Joe

    Purchasing a House and Land package in a SMSF can certainly be done but constructing a property cannot.

    As for buying an NRAS property not an issue.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 11, 2011 - 7:20 am

    Hi Joe

    Not a matter of finding a lender / broker to assist you it just cant be done.

    Option is to fund it personally but other than that get the builder to fund it and you purchase it as a completed product.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 11, 2011 - 3:03 am

    Sorry Kent that statement is clearly 100% incorrect

    Under the new NCCP it is not be possible to capitalise interest.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 10, 2011 - 9:30 am

    Hi Michael

    Settled an 8 pack with Wide Bay here in Brissie this week which was done as a residential deal.

    I have a block of 18 (14 x 1 + 4 x 2) which i own and managed to fund that on a residential basis but that is a long story and a very good relationship with a major lender.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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    April 10, 2011 - 8:24 am

    Hi Cazzie

    Firstly so sorry to hear about the death of your daughter.

    Drop Paul Dobson a line as he does a lot of Vendor Finance out of the Newcastle area and i am sure always has investors ready to go. Do a quick search in the Finance sector and you should find Pauls contact details.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

    Profile photo of Richard TaylorRichard Taylor
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    April 8, 2011 - 9:50 am

    Maybe i am slightly biased but i would say is your Bank is not going to tell you there is a better offer down the road.

    Cheers

    Yours in Finance

    Richard Taylor | Australia's leading private lender

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