Forum Replies Created
Hi Adam
I own and run First Home Owners Group Pty Ltd which is Qld largest provider of Vendor Finance.
We own all of our own properties and never use investor funds but might be able to help you depending on what you are offering / requiring.
Shoot me an email with your license details and we can chat when i get back from the UK next week.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Matt
Just make sure the Broker you go with has runs on the board.
Some of the feedback i am getting from forum clients about how they have been told to structure their loans is horrifying and totally inappropriate for their circumstances.
Although the FHOG is unavailable in VIC on second hand properties their may still be ways around maximising your borrowings to get into your first IP without having too save up a new deposit. i am sure your current Broker will advise you of this.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Sure Gayle will flick one over to you.
Talk next week.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Personally I would recommend talking with Alistair who has already responded to your post.
He won't promote his services but his family business runs a Town Planning operation with a very good reputation in the Melbourne area.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Going to depend on a number of factors including how much are you borrowing.
Assume it is say 110% of the purchase price it is very unlikely in the current climate you will find a stand alone property that will return a yield that will cover all of your expenses.
We say to our clients that we try and get as close as possible and then look to use alternative strategies such as Vendor Finance to balance the returns on properties they hold for the long term in their portfolio.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
No dramas Tom I have sent this off for you.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
No dramas Tom I have sent this off for you.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Neil
I am based in Brisbane so feel free to shoot me am email and I can give you Darryl's details.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Tommy
Rather than bore you with the story more than happy to send you a copy of my API interview.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
No problems guys email sent.
Richard Taylor | Australia's leading private lender
Hi Kurtuk
Article emailed.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Look at taking a Call Option on a potential development site.
Last one we did netted over 1.2 M in the year and we use it as a secondary income to our buy and hold rents.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Alex
No hate to say that is not the case at all.
Most IP loans are funded by 100% + borrowings.
Nothing illegal in borrowing your deposit.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Tom
Ok apologies you might be correct.
I have been in Europe since 4th November so may have missed the odd update.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Option 3 Take out a 105% standalone loan with a 15% personal loan and 90% traditional loan.
Cheers
Yours in Finance
Richard Taylor I Ph: 07 3720 1888 I [email protected]
Start your investment portfolio with our finance broking / property service.
Want to retire at 40 ? Email me for a copy of my API interview.
Follow us on Facebook I Increase your monthly return with Vendor Finance.
Richard Taylor | Australia's leading private lender
Yes CanD shame you are not in Dubai as i am there next week ……
Did Canada last year for a month.
Cheers
Yours in Finance
Richard Taylor I Ph: 07 3720 1888 I [email protected]
Start your investment portfolio with our finance broking / property service.
Want to retire at 40 ? Email me for a copy of my API interview.
Follow us on Facebook I Increase your monthly return with Vendor Finance.
Richard Taylor | Australia's leading private lender
Anz allow 5 separate loan splits under a Breakfree package so no reason why they will not allow a further split.
If there is an issue merely increase one of your existing Investment loan splits.
Cheers
Yours in Finance
Richard Taylor I Ph: 07 3720 1888 I [email protected]
Start your investment portfolio with our finance broking / property service.
Want to retire at 40 ? Email me for a copy of my API interview.
Follow us on Facebook I Increase your monthly return with Vendor Finance.
Richard Taylor | Australia's leading private lender
Cubit, Yes you are right lenders will one day want to see the loan roll over to P & I but as long as the account has been maintained satisfactorily most lenders will allow the IO term to be rolled over.
Obviously if for some reason the lender revalued the property and found it was in a negative equity position then YES it is likely they would want the loan to be converted to P & I.
Yes salary sacrificing into Super will reduce your Taxable position but will mean you cannot access the funds until you reach retirement age.
If this suits then sure it is a good idea.
JWareham, most forum members loans we process are done via email / Skype / Telephone etc however i have a business partner based in Melbourne (Jacqui from the PI forum here) who looks after the property sourcing side of our business.
We don't charge fees for our time.
Cheers
Yours in Finance
Richard Taylor I Ph: 07 3720 1888 I [email protected]
Start your investment portfolio with our finance broking / property service.
Want to retire at 40 ? Email me for a copy of my API interview.
Follow us on Facebook I Increase your monthly return with Vendor Finance.
Richard Taylor | Australia's leading private lender
Chicken i hate too say you won't be able to change it from P & I to IO whilst it is on a Fixed rate so might be stuck
No unfortunately there is no standard lender left offering 100% loans but depending on the property and subject too a few things 100% might be doable.
Of course you will need to factor in acquisition costs etc.
All of which your Mortgage broker can advise you.
Cheers
Yours in Finance
Richard Taylor I Ph: 07 3720 1888 I [email protected]
Start your investment portfolio with our finance broking / property service.
Want to retire at 40 ? Email me for a copy of my API interview.
Follow us on Facebook I Increase your monthly return with Vendor Finance.
Richard Taylor | Australia's leading private lender
So805 Anz will allow the funds to be paid back into the loan itself on drawdown without closing the account (I have done it on 2 forum clients loans which settled over Xmas).
Admittedly they don't like doing it and you might have to tell them a dozen times on settlement but they will do it and the rate will be cheaper than a Equity Manager Line of Credit.
Cheers
Yours in Finance
Richard Taylor I Ph: 07 3720 1888 I [email protected]
Start your investment portfolio with our finance broking / property service.
Want to retire at 40 ? Email me for a copy of my API interview.
Follow us on Facebook I Increase your monthly return with Vendor Finance.
Richard Taylor | Australia's leading private lender
