Regarding what is considered commercial or not for block of units.

Most bank will max out at 3 block of units under one title to be resi.
A few will do it at 4.

But there are 3 lenders i have dealt with in the past that will consider up to block of 8 on one title to be still resi ( but can’t be specialized properties)

Regards
Michael

Location and security type alone will push this loan type into the Commercial side of things.

The rate for commercial will range from 7.8%- 10.5% +
SO your NET return is much much lower because of this Commercial rate…

Also the LVR would be def under 65%…more like 50% i would say for a 18×2 in Moore.

Hence why it’s still on the market

If…[Read more]

Apparently there is a disability Trust.

Regards
Michael

Hi,

I don’t think there be any organisation that specialize in disability pension; as it’s diff in all states and only a very small part of the population.
Just a few tips;

1. The disability pension is taken as a “salary” in the bank’s eye- once your on a disability pension it’s very hard to get off…and the income is accepted at 100% full…[Read more]

Residential 2C will give you great potential to build almost anything….a developers dream.

For a more basic and free research- i would say go to the council website and dl the planning and development guild + give the council town planner a call- it’s free and they will answer most of your questions.

Regards
Michael

linkproperty…[Read more]

therock1 wrote:
Luke,i have 2 x investment properties but both are geared to the max so cannot get any equity out of them.As for selling them after , agents fees, and CGT i would probably have to pay money to sell them.Michael,I have been with self employed for last 4 yrs and my annual turnover has been climbing at about 14% per yr on avg and…[Read more]

Private lenders will look at the overall deal + exit strategy …if it make sense and there is a clear path out ( ie your not just borrowing and hoping for the best) – security would help…but not alwasy required.

Regarding housing 2nd mortgage- this takes a longer time; as you need approval from your first mortgage to allow the new lender to…[Read more]

ohh yea- didn’t read his 2nd post

therock1 – Why don’t you use your car and house and applied as a secured debt?

Regards
Michael

luke86 wrote:
Why can't you sell your house, boat and/or car??Cheers,Luke

Im thinking he has none- hence why his applying for a Unsecured loan?

I have never seen any Unsecured debt go above $90,000 and even that was not easy ( strong job stability – 20 + years; self employed and good asset based but was tired up.)

With most WA client’s especially in the mining industry; it’s not about your salary or what you make ( as most are on $100-190k) but it more your job stability the lender is…[Read more]

From my understanding the property can be marketed …but can’t be sold/auctioned without the section 32.

I seen plenty of sale contract without the section 32 ( most out of date) on the market….just couldn’t sign the contract.

Regards
Michael

Dragonflyz wrote:
Thanks Michael… what is involved with a construction loan… how is this seen to be different from the banks point of view to the ‘original’ mortgage/loan for the property? SSorry if this seems like a very basic question, but this is all new to us and we are keen to learn as much as possible so as to make an…[Read more]

I bought NAB today, since i already had some NAB i bought for ~$24 from a few month ago….it was a good time to “average” my lost out.

I think ill buy a few more of the major 4 Bank stocks…. but Ill wait it out a bit as well; the worst is yet to come

Regards
Michael

Hi,

Having a discharged bankruptcy is not the end of the world; as long as you play the game right and find the right lender that fit’s their “books”

Generally speaking;

1. If you have good conduct for 18 moth + discharged bankruptcy for more then 3 years + stable job (2 years full time +…more the better) + one stable place of residence-…[Read more]

Hi,

As Richard mentioned, you wont be able to go to 95%; especially given you have no experience in this field, 90% would be your max.
Existing land purchase- developmental/subdivide is not only common in SA; but also in NSW, QLD and VIC.

The easiest way to do this is to;
1. speak to townplanner and bridge a connection with a team of “people”…[Read more]

How many are you building?
What are you building?
Zoning?
How much?
What LVR?

Regards
Michael

Something closer to home- not sure which state your in.

Cousin bought a house in Marrickville NSW in 2008- now it’s worth 50% more.
And of course you hear the common Mining town having their massive boom and glooms

Big risk = big gain= Big lost as well.

Regards
Michael

i can tell you know Phillip Island is NOT easy to finance; due to valuation and risk of location …as a matter of fact in the last 2 years; i had roughly 15 deals for Phillip Island placed on my table and only ~5 was accepted ( and it was accepted at a very low LVR + crossing security)

So it depends on what your investing for? – lower tax? or…[Read more]

i can tell you know Phillip Island is NOT easy to finance; due to valuation and risk of location …as a matter of fact in the last 2 years; i had roughly 15 deals for Phillip Island placed on my table and only ~5 was accepted ( and it was accepted at a very low LVR + crossing security)

So it depends on what your investing for? – lower tax? or…[Read more]

Nathan’s investing style is just ONE form of MANY type of ways to invest (dont get me wrong, i love Nathan’s work!)

With any investing style you should NOT follow it to the T.

but rather learn from it and morph it to suit your financial + personal goals.

I have more then 100+ client who are under 30 who may not have as many IP as Nathan; but…[Read more]