Hi,

roadhog260 – The previous 2 posters have answered your quetion about equity release; regarding the NZ property; you will nee to speak to your bank about that…as not all bank will allow a equity release for o/s purchase- I know a lot of Australian bank will; not 100% sure about NZ banks…

shoooshoo- Cross is not the end of the world, i…[Read more]

NO you can’t- Vic FHOG has a 1 year time limit- Must move in and become PPOR within 12 month of purchase, and live there for 6 month etc…

Regards
Michael

Both options most likely would not pay good capital gain (compared to the average capital city’s increase)…finding a low price property that gives good yield + Capital gain ( without any work) is like winning lotto in the property investing game,

You can “hope” for growth…but yea….

My personal theory is; Capital gain comes in two form
1.…[Read more]

Need a bit more details to give you a define answ

1. Postcode of property?> since you mentioned it’s regional , then 95% LVR is most likely NOT possible- but can confirm once you give postcode.
2. Any another income? Husband? on $1,700 fortnightly you won’t have much left to service a loan — living expense for 2 adults + 1 kid? , the current…[Read more]

Hi Dan welcome to the forum and congrate on your great headstart, your in a great position!

Firstly lets start with the basic:
There are 2 important part when applying for a loan; one is the serviceability ( meaning how much can you afford per month to service a loan, based on IF the interest did go up by 2%– serviceability calculation based on…[Read more]

1- speak to real estate agent and shop around for different management fee
2. Theres not much you need- ID….it’s self explanatory once you see the agent.
3. ONe site agent or not doesnt matter, as long as they are good at what they do.

Regards
Michael

Mate a lot of questions that you should direct to your accountant, since your new to this as well- i would avoid DIY trust it can cost you thousands if set up incorrectly….

About the depreciation not all trust allows you to claim the depreciation personally, and im pretty sure Family trust is one of them that doesn’t allow you to do…[Read more]

The general Juciy of this account is:

1. it can ONLY be for your PPOR- not investment – so you MUST make up your mind on this before investing
2. 17% interest for the fist $5,000 would beat placing the full 10k into a online saver—not sure what your question is tho.
3. There is a 4 years time lock on this account- meaning you can only take the…[Read more]

Your situation can be reversed; just get the bank to reserve the steps and organise a new loan to be set up.

Regards
Michael

veseli wrote:
Just out of curiosity,  will the bank give you loan of 100k or your cash out (no loan) in her case?

?? yes bank will cash out 100k- WITH a loan….( apply for new loan- cash out equity release loan)

Regards
Michael

Just to let you know when Terry means by Non-bank is “mortgage mangers lenders” – where they borrow from the bank and lend back to you.

Some may think ING, Suncorp etc are consider as non-bank—but that’s not true they are a still a bank, tier 2 lenders….they get their funds from deposit and another source and lend back to the public.

IN Aus…[Read more]

Absolutely a problem!

When you look at your bank statment it will say for example:
18/8/2011

Mortgage repayment –$2,000
18/8/2011 —- Interest paid $1,600

etc… Now remember you can only claim the interest part back for Investment loans only; so how can you declare and separate which part of the
$1,600 is for the PPOR or IP???

Yes you may…[Read more]

Hi,

Well if i understand your question right.

this is what it seems like your doing when you say “TOP UP”

–Before top up—
PPOR worth: $500,000
Loan $300,000 ( Loan A) — secured by PPOR

—-After top up—
PPOR worth: $500,000
Loan $300,000 + $100,000 ( Loan A) — secured by PPOR

The $100,000 top up used for investment??

If this is…[Read more]

Hi,

You got nothing to be embarrassed about; small business is a tough business especially given the current market.
I had past small business who has been in a similar situation, from what i observe:

1. You can try to work it out with the bank- but 8/10 the bank will say no to extra funding or a higher overdraft – your already in debt…if…[Read more]

auhealth wrote:

PPOR
Value: $500,000
Original Loan (Loan A): $300,000 – secured by PPOR
Offset account link to Loan A
LOC (Loan : $100,0000 (assuming 80%) – secured by PPOR
IP (deposit is paid from Loan B account)
Value: $500,000
Investment Loan (Loan C): $400,000 – secured by IP

What you have done here is correct and fine- just keep this…[Read more]

1. Online saver- 6.5-6.3% — Ubank, Rabo, Citibank, Virgin, ING, Hunter…—Easy to access money if required for emergency, good interest… flexible

2. First home owners savers accountant- 17% interest paid by the Gov for the first $5,000 invested- can ONLY be used to buy your first property; need to invest min $5000 per financial year, can…[Read more]

Fixed?
Variable?
Basic or full feature loan ( im guesing basic , given your loan amount)?
Offset?
Redraw?
Do you need another product ie credit card?
Fees?
Set up cost?
Long term goal- are you wanting to invest further later down the track?

it’s easy to just split out the lender with the lowest rate, but it’s just about the rate…it’s about the…[Read more]

Ummm your doing this all wrong, for the reason you want anyway….

1. Stamp duty is payble for the transfer. ( depending on state)
2. Since you want to buy a house in joint names – it “MAY” ( i say may because i dont know the financial figures) not make a huge financial difference,– what your doing is really shifting from NOT having a mortgage…[Read more]

Question 1 is probably the most imporant
What sort of deal is it? Boarding house? Bakery? warehouse? farm? etc….

—-

Generally speaking; ( the list changes quite a bit depending on lender)

—-Easier—-
Car park
Aged care
Child care
Motel/Hotel ( under 25 units)
Pubs
Car work shop
Offices ( location dependent)
Taxi plate
Management…[Read more]

Questions to general, need to know:
1. need to know a bit abt the deal ( no point saying CBA etc…if they don’t touch your deal)
2. LVR?
3. Loan amount
4. Location ( just postcode is fine)
5. Type of transaction- Investment or self uses? ( ie will you be running the business or renting the premises out?)

These are the basic 5 questions.

Regards
Michael