Yep i have dealt with Nathan Birch on a professional level- great guy and knows the area pretty well!

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Regards
Michael

Coal Seam Gas is sort of like the 2nd grade stuff of Coal mining….shorter period and life + less profit and demand ( even though it’s in the media quite a bit)

Regards
Michael

API magazine is a respectable company…but as you mentioned the company is “advertised” how creditable they are depends on who they are…. API magazine would be happy to accept ANY Joe blow to be a paid advertiser, as long as they pay and have an ABN.

Everyday i see potential scams in the Australian financial review advertising section…

So…[Read more]

Richard has covered it perfectly.

I would say ; given it’s a 95% Loan with Cap LVR- LMI cost is a very important factor to consider- more important then the rate itself…

ANZ if done via their own LMI ( ANZ LMI) tends to be slightly more expensive in terms of the LMI cost – at least 15%-20% more on average

So for example; presuming a $400,000…[Read more]

1. they may see it as a pointless exercise
2. Some banks are very risk adverse to this sort of investment strategy ( increase debt level as market increase…so what will happen when market decrease?) especially the LMI ppl
3. Some valuers would blank out any small increase within a short period of time ie under 5%
4. All banks prefer to hold…[Read more]

Correct to a point; presuming—>

1. the renovation adds the value you expect Compared to the market
2. Valuer agrees with the value
3. LMI allows for the extra increase + agrees with new valuation as well ( presuming you go with a lender that doesn’t have DUI)
4. You can service the increase
5. The product you choose allows for a split structure…[Read more]

Midsomer wrote:
Hi all,

Any suggestions for a loan of around $140-145k, IO, 90%LVR, so LMI will be applicable.

The purpose of the loan is for my first IP. Looking to pay IO for the first year or so, after my reno’s are done, refinance to purchase 2nd IP etc..

Some websites don’t quote a minimum amount, where-as others require $150k minimum..…[Read more]

Block of 4 under one title is still ok with Res lending- same discounted rate with the right lender.

If it’s in a good location and there are comparative sales then up to 80-85% LVR is do-able.

Regards
Michael

Slow right down buddy….finding +ve is not like winning lotto!!

Patrick – what do you actually what to know?

Regards
Michael

https://www.propertyinvesting.com/forums/getting-technical/finance/4337464?page=3

Regards
Michael

Yep Mr Birchy

Also side note- Most of Nathan’s purchases are under his personal name.
Personal choice.

Terry has already listed the benefits of a trust…and no it does not mean you can borrow more…

Regards
Michael

1. LOC is not for everyone especially if your going to do one against your PPOR. I prefer to stick with a standard offset split loan + I/O – it’s cheaper, cleaner, better serviceability, better LVR but less flexibility.

2. Deposit bond i find are only great for purchase with the extra long settlement, Off the plan OR if your money is bound…[Read more]

scha9799 wrote:
I just couldn't understand how people can get the finance continuously without hit the finance brick wall.

Got nothing to do with trust or personal name.
You could easily hit this “wall”/problem under a personal name purchase.

As Terry and Richard mentioned, it all comes down to;

1. Structure
2. Debt level
3.…[Read more]

kenneth wrote:
Because am kind of thinking about how to offer online loan but dont know how.

Sounds like you want to lend this money out as a private lender?
Firstly you need a License and with your post i doubt you have enough exp for ASIC to give you a License , Secondly it’s very risky- plenty of sharks out there… especially if YOUR…[Read more]

Resimac – low??!?? really…. how much are you borrowing? + what LVR??

Had mix response from previous Resimac clients; and fortunately more negative…

Positive- ” Nobody else would lend to me at that time, so im happy Resimac was able to…. at the given LVR”
Negative – ” Their rates changes ( upwards) over a short period of time… especially…[Read more]

You might wanna look around Parra or westmead for 2 bedroom + car space under 400k + close to Train and good size etc..

Regards
Michael

None of the above post is about “refinancing” at all…it’s about the transfer of name itself…In fact 95% of this sort of change over the client stays with the current lender.

You pay stamp duty to the land and title office for this change over. The only reason the bank was mentioned; was to answer your “reason” for changing over.

Eventually…[Read more]

Depending which state your in – you can transfer names btw the spouse without having to pay stamp duty for the transfer; but certain conditions must be met as well; most of the time if you declare it’s for “tax” reason it be a big no no and your expect to pay stamp duty.

More info for NSW below ( not sure which state your…[Read more]

Charlie i tell you a bit abt my situation as In 2004 i was in a very simliar situation to you Charlie;

18 years old
Financial Mathematics undergrad degree
Don’t want to work for the man
Keen entrepreneurial spirit
1 part time job = $22K/year
+ running my own online retail business – $15k/year
No debts

At a young age i been interested in…[Read more]