wobblysquare wrote:
difference between a construction loan vs normal residential loan…(criteria / int rate difference etc.)

If you want to get down to the finer details of criteria and rates etc…why not shoot Richard an email and he should be able to direct you + provide a more accurate and detail answer.

Regards
Michael

1. No your SMSF wont be able to buy your own property, there’s a “one arm length” rules restriction in place.
2. ( not 100% sure) But i thnk if your SMSF buy any another property; the fund is not able to rent the house back to the beneficiary ( they could have changed the rules too this?)
3. Your company can buy the property- but expect to pay…[Read more]

From a Investors point of view—

High density are normally located closer to the station, shopping centers and amenities ( council regulations – you wont see any high raise in the middle of the suburbs….) so that means they are located in better” postions” = higher rent = better returns.
But due to it’s size , there are def more maintenance…[Read more]

Hi,

Why your broker has recommended Macq bank is probably because they offer a fixed rate of 5.99% ( which is one of the lowest) ; but another banks are offering 5.99% as well + some are lower then that.

She recommended Sun-corp; because they offer one of the lowest Variable rate ( for loan under 80% LVR) – which is not a bad…[Read more]

If it’s reported in the paper, you most likely missed the boat already to a point.

Regards
Michael

Depends on your timing- are you waiting 1,2 ,5 years? or months etc…

Term deposit – for short term
Shares – for longer periods ( but go for shares that pays a stable dividends + blue chip company)
There are another means of investing such as short term mortgage bon , insurance bond etc….all with diff risk portfolio

note: Personal post here,…[Read more]

Question is…. are deceased estates properties any cheaper or better???

been to a few Mortgagee sales and deceased estates auctions and the prices were the same as buying it on the market for a similar property.

Regard
Michael

Hi Mary,

Happy to help Mary.

Do you have a burning question you wanted answered in particular?

Feel free to visit our site- it has an updated matrix for different type of commercial properties; based on which one is the easiest and hardiest to finance.

http://www.shapehomeloans.com.au/commercial-loans

Regards
Michael

Hi Anthony_Black,

As Richard mentioned; would need a bit more details to provide you with an exact borrowing capacity + is your fiancé going to be on the loan?? if so do she make an income etc….

Just a few comments:

1. What the agent says in term of your property value is pointless- get CBA / a bank to do a valuation on the place, since…[Read more]

At 60-65% LVR you be able to get this through smaller residential lenders, but one of the main issues with residential lenders is that they are very picky with the quality of the security ( size, how much control the hotel holds etc…) + will discount the amount of rent they will use in the serviceability.

Commercial lenders are more flexible,…[Read more]

JayDee26 –

You def need to physically go and have a look at the properties in W.syd – the numbers looks great on the computer…but trust me there are def some bad buys out there, even if the numbers stacks up!! took me close to 15 house inspection before i bought my most recent IP.

Id suggest you got to a through house inspection to make sure…[Read more]

the math looks right- and yes you are on a P and I loan- at the initial stage you will be paying a much higher interest VS principle “balance” ; the amount of interest you pay every week will change slightly, but overall “repayment” will not change,

who’s the lender? and is this a commercial type loan where the interest is capitalized?

Regards
Michael

4.5% is quite low ..Is it a honeymoon loan? or a fixed loan? does it revert to a higher rate; if so these will have a bearing on the cal.

Regards
Michael

rusty05 wrote:
Shape, Funnily enough it was the one bank I initally refused to go to because of a previous customer service issue … but given the complexity of our purchase (primary production on a residential loan, etc) they were the best this time round for us, the 0.9% brought us down to not much less that where we hoped to be or…[Read more]

rusty05 wrote:
We've just been approved for a 0.9% discount with Westpac on a loan of over $800000 but the broker is hitting them up for 1% because the LVR is only at 42% – Worth a shot.

The big red is one of the hardest lender to neg on discounts + they have the highest SVR…i guess you pay a prem to be the first bank of Aus.

Regards
Michael

Hi Andy,

Unfortunately CBA has gone backwards with their discount margin in the last 1-2 months; due to their so call “funding cost”

Having said that- another banks are still offering massive discounts- up to 1% discount as standard; and more…[Read more]

Our subsidiary company is based in China and we have direct access to 7 of the top Chinese based banks, however 6 of them only lend to;

1. Commercial deals over 15M OR
2. Existing clients of their banks OR
3. Chinese citizen ( it’s not easy getting money out of china, it;s all controlled by their Gov)

if your after a much smaller residential…[Read more]

LMI price is based on the loan amount figure.

Another cost generally speaking can not be capitalized unless;

1. You have equity in another property
2. Some smaller lenders do allow for Cap case by case – but rates are higher.

Regards
Michael

Sash wrote:
mattnz is on the money with the figures. What i'm trying to say that the AMP valuation was $340. the outstanding loan amount with CBA was $283. The new loan amount with AMP is for $306. I want to access the $30k hence the reason for the refinance. They some how came up with a figure that the refi would allow me to acces $13k in cash.…[Read more]

P.s 90% Max for refinance anyway + not existing customer.