As mentioned for development of 2, you won’t be able to get it done with an GRV lender/product.

Give CBA a fick and shoot Richard an email…

Regards
Michael

usmic wrote:
Hi I recently graduated from university. I took a Fee help loan of 85K + interest. Will his have a huge impact on my borrowing capacity?

Define ” huge”

But yes it will have an impact..

Daneo79 wrote:
Hi Richard,

When setting up a DF Trust with corporate trustee, do i use a non trading shelf company?
And who is the best person to set up the trust?

Yes non-trading most of the time.

your accountant can set this up for you, but you may want to check that your accountant specialize in the field of property accounting …since…[Read more]

MACQ wrote:
Also do they have corporate subscriptions?

Yes they do.

xdrew wrote:
Avoid the YES men, people who are too willing to say yes .. .

The good old YES mens/womens…they are a disease in every industry…especially politicians

Regards
Michael

^^ Derek is spot on!! I have a feeling Derek is a Buyers agent by day and a broker by night

But in summary, doesn’t matter how much of your LOC you have used banks will look and calculate on the full limit.
Also the bank has the right to reduce or stop your LOC at their discretion….so your broker will need to do the research before hand to…[Read more]

1. 70% GRV with 2% over mortgage rate and some pre-sales sounds about right,,, you only need pre-sales when you go over the standard 60% GRV OR you personal lack asset and the bank thinks there is a chance they may not be able to recoup all their cost and fees back.

2. Yes lender will pay out the mortgage and take over all the security + register…[Read more]

I been too a few of Nathan’s talk and im a true believer of this strategy ( not necessarily where he buys…but the strategy behind it) i have also referred some of my clients to his program and no i don’t receive any “referral” fees which is fine- as it’s not my business too.

Learn and adopt the strategy too your own experience, budget,…[Read more]

Generally speaking I/O with an offset is preferred by most investors and even home owners…however it will depend on your goals, plans, borrowing capacity and product/rate ( ie some lenders charge a higher rate for i/o…..and some products don;t allow for i/o at all).

If your not too sure what your going to do and have no short/long term goals…[Read more]

Maybe if you can save just a little bit more and push your range too low $200 you will have a bit more choose in Western Sydney – ie TREGEAR ( $200,000- $230,000)

Regards
Michael

Hi welcome!

The bank is correct in saying your liable for the entire loan amount, Ie if your friend can’t afford too pay you will have to pick up his/her slack- ie the bank can’t sell half a property.

Regarding your future borrowing, only some lenders will calculate your future lending based on the full amount; if this is an issues it’ just a…[Read more]

Strata, management fee + have to paint and change the carpets every x number of years

Jamie M wrote:
If you want an amazing broker in the ACT – joking CheersJamie

Surely we can’t leave out the Awesome ACT finance broker from this equation!

Jamie Moore from passgo! phone. 1300 656 299

Solomon10 wrote:
Thanks Jamie and Terryw, would you use any of the big four towards the start of your property buying and smaller lenders when coming close to "the wall" or vice versa?

Generally having one of the big 4 for your first 1-2 is ok especially for your PPOR as they have decent policy, rates and access to more ATM’s etc…once you…[Read more]

tmr wrote:

ssusanh wrote:
 I would like to get back into my own home after a disasterous relationship where I lost everything.  Unfortunately I don't meet traditional requirements.  I have a great secure government job with a steady income, but very little else.  I'm looking to vendor finance a cottage in the Blue Mountains.  Where do I start…[Read more]

If you could provide some numbers, LVR and how much savings you have etc might be able to work something out…no promises

Done a loan for a client in a very simliar situation, Client knock down the property and realize 3 month alter the land value is less then they expected + they had no deposit to make up for the short fall or to start the…[Read more]

Peterc01 wrote:
I am in a similar situation, I have owned a business since sept 2011 and would like to sell our IP as its neg geared and not a tax benefit anymore.

With less then 2 year ABN + being a start up business i doubt you will have a stable income that you can produce – you will need to go into Low-doc funding. All the majors low doc…[Read more]

Terryw wrote:
It is not the loan that matters but the % ownership on the title of the proeprty.

Pretty sure OP jsut accidently used the wrong terminology – i be scared and worried if this is what the accountant advised

You save money from owners builders only if you can mange the project well in term of timing and planning…

Ie Contractor A is not waiting for some Contractor B to finish before they can start etc…it’s like a puzzle…you can do it step by step and take forever to build and potentially leave some steps out?

or get an experienced builder /…[Read more]

won’t provide any advice…but a few things to note/think about.

1. are your redrawing from your PPOR to access the 20% deposit? if so-speak to your accountant as you may not be able to claim the interest on the 20% part you borrowed…

2. If done correctly you can essentially borrow 100-110% ( stamp duty) of the property value and claim the…[Read more]