Forum Replies Created

Viewing 20 posts - 11,921 through 11,940 (of 11,968 total)
  • Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Hi battz

    You might be referring to the new Pepper Home Loans product with a variable rate of 7.95%. In broad terms minimum loan is $100,000, maximum loan depends on where you are but upto $500,000 in Sydney.

    Capital cities and approved regional centres vary from State to State but a lot of small towns (pop over 10000 are covered). $325 Application fee, legal fees upto $350. Establishment 1% and mortgage insurance cover equivilant to 2.5% of loan amount (approx)

    Max Land Size is 2.5ha.

    Happy to crunch some numbers for you if you want to email me some details.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi kredden

    Not sure what State you are in or what you are trying to ultimely achieve. We use a combination of put / call contracts for developments sites as well as a call contract with our standard License to Occupy Contract for wrapping. Send me an email with some details and I would be happy to point you in the right direction.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi wannabe

    Most lenders on a limited docuentation basis and subject to the security area will advance upto 80% of the security value. In rough terms assuming that all of you properties were in an acceptable lending postcode then 80% of $840K would be $672K and give you a further $272K. More than enough for a few more properties Happy to provide you with a list of Lodoc lenders if this helps.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi vluu

    I agree with Terry on this one. If you are considering investing in property as a full time business apply for an ABN now. I have several clients who were income poor although asset rich before they started in investing in positive cash flow properties and wrapping.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    rorqhaul

    Another reason for buying in Queensland

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Des & Sue

    Don’t let the word Flood put you off. In Brisbane the 74 flood was the catalist for mitigation work around the city and now most areas are below the Q100. Of course there are exceptions especially in the Rocklea and Salisbury areas. In Rockhampton it has been 11 years since the last major flood in the Fitzroy river and the general market is more accepting of property in flood areas. Still always better safe than sorry for the cost of a flood search.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi navymt

    Why not buy one now, wrap it and use the positive cash flow as deposit for the next one. Alternatively, use the extra cash flow to discharge your other non tax deductible debts. Cairns is not a bad area but think about the extra costs on a unit such as Body Corporate costs.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi VPA

    We have wrapped over 20 properties in Rockhampton and now have a full time agent in the town working for us. Gracemere has a post code of 4702 and can be a problem with certain financiers or rather their MI’s.
    There are better areas which meet the 11 second rule however depends if you are buying to wrap or buying to hold & keep.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Andrew

    Would love to attend.
    If you need an central venue with parking we have a vacant whole floor with kitchen attached and would be happy to host it. We are Milton 4 doors away from Suncorp Stadium.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi Skalle

    Welcome to the forum.
    It all depends on what you are after. If you are after capital gain or positive cash flow.
    Having lived in Brissie now for 10 years I guess I have seen both and been lucky enough to have purchased IP’s for capital growth when I first arrived and now only buy +cashflow wrapped properties. Only problem is you might have to look further a field than Brisbane. Email us if you want some details.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Jonesy

    Simon is right. No problems in doing it. Its what you could call very positive cash flow.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Shezian

    I have to say I agree with Calron. As long as your tenant / licensee can demonstrate through their income that they can service your rent or Licence fee payments why not take unemployment income or other Government assistance into consideration. The maximum rent allowance paid by Centrelink is just under $125 / fortnight which can be assigned to you direct. On the basis that your rent or the license payments are greater than this figure the shortfall can also be paid to you directly once you registered with Centrelink.

    Who is to say that someone receiving a PAYG wage or salary is going to make their payments ontime. Just check you applicants references and don’t prejudice any potential client.

    I have many Wrapped and License to Occupy properties that have purchasers who are in receipt of a Government Assistance and they cause us the least problems.[:)]

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi vik_fam

    I agree Steve & Dave have had deep pockets but it certainly not out of the question. We have ourselves purchased over 100 properties in the past 3 years but now accept that we have run out of deposits. Whilst I appreciate what Mortgage Hunter referred to by redrawing the equity in your property for the next deal he may not be aware under an instalment contract you are not allowed to cross collateralise the loans. Hate to say guys its 20% cash or equity from other non wrapped properties. Remember if you are wrapping you are trying to achieve a sizeable passive income.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi gargar

    Not sure what State you are looking in but certainly Qld is still blessed with 101 positive cash flow properties. We certainly find that most agents don’t get chance to list the best buys as they go quickly. Lets us now if you need help and consider interstate.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi There

    Pictja i think you will find that they scraped the minimum asset requirement some time ago. Minimum lend is $150,000. Also will go to < 50sq M2 depending on the number of units in the block and the height of the building. Normal rates apply.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Dear Lynchy

    Dont dispare. Sounds to me like you have started up with a good asset base and some sound income generating properties.If you need to be pointed in the right direction for a positive cash flow property we would be happy to assist.
    I can assure you I have many client’s who would love to be in your position. Always happy to give you a general overview.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi Redlilia

    Think we are all looking to find next area in Brissie or the GC which will give us great Capital Growth. Was out with one of the Residential Directors of HTW last Friday and I don’t think they can believe how hot the market is at present. Don’t sell yourself short there are many areas in the whole of Qld where we are getting good positive cash flow. If you need any further information happy to provide.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Hi Richmond

    Firstly congrats on the new position. We don’t get Melbourne news in Brissie but well done anyway.

    I guess it all depends on what your expectations are and your general standard of living. I know my wife couldn’t survive if i only earn’t $100,000 pa (keep that quiet she might be reading this under her alias Ms Moneypenny) but personally I could live happily ever after. Cost of living in the major capital cities can often be higher than in regional townships but in turn people in smaller areas can be more content. Money doesnt buy you happiness but if sure can go along way to help.

    Hope you enjoy the new job.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    Balance of what I was going to say was you will have no problem in finding work with a trade like you have. If any problems come upto Brisbane we have a queue a mile long of people wanting a reliable plumber. Anyway whatever you decide i am sure you will enjoy it just might miss the warm beer and the Saturday soccer for a week or two. Good Luck

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

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

    G’day rdadrday from a fellow Pom

    Firstly $133 GBP (sorry my keyoard doesnt have the Pounds sign) seems very cheap. I still have a few properties in Bournemouth and the area is almost equivialent to London prices. If you havent been here yet i would personally settle in, find you feet and then decide. I have come across many a fellow Pom who came here on a 1-way ticket and then purchased another to go back. I have been in Oz for 11 years and would never go back other than for holiday but i am in Qld.

    Cheers Richard
    [email protected]

    There is no such thing as a problem.
    Just a solution waiting to be found

    Richard Taylor | Australia's leading private lender

Viewing 20 posts - 11,921 through 11,940 (of 11,968 total)