Also as a side note…you mentioned the population is 15,000; it sounds like it’s still part of a rural area ( given the returns and sale price as well)- this alone may push it outside the resi lenders comfort level.

Whats the postcode?

Regards
Michael

tjunction wrote:
Is there any chance of getting a Block of Flats with 90% LVR?Circumstances as follows;Buy Price $900,000Return $85,000 paFully tenantedNo strata- just 7 flats on one blockLocated in a strong regional centre with population 15,000Cash I can put into the deal: $90KMy Annual salary: $90KMy equity in other property: $130K I'm awar…[Read more]

HI- yes there are a lot of talks lately about trust etc..but it’s not for everyone; i know of many investors who just buy under their own personal name.- speak to an accountant for this one.

With $150k, depending where you buy and what the average price is…yes you could buy 2-3 property. Note: you still need to pay for stamp duty, legal etc…[Read more]

Walk Liverpool at night…then it be a different story

Regards
Michael

I would not reply on an bank’s online calculator
1. it’s not updated…ANZ one is like Nov 2010
2. It’s alwasy “better” compared to when you apply for the real thing….i guess they make you feel happy and once your sucked in it’s to late
3. It does not allow for more complex situations

Either speak to a broker or a bank manager and get them to…[Read more]

Rahrahprincess wrote:
This is all very interesting reading. I learn sooo much from you guys here.
I would suggest that Johnny sit down with an accountant who knows about property – and run through the scenarios. You might consider one of the guys posting here. You need to make decisions on your own position and desired outcomes.
This forum is…[Read more]

Hi,

Common question.

Short answer – yes it does affect your personal serviceability. As you need to declare all asset and liabilities you hold :
1. Personally
2. As a guarantee/ guarantor

Trust and company falls into the 2nd slot.

But as mentioned, there are some lenders that will ignore a trust’s asset and liabilities if your overall personal…[Read more]

Mark Nolan wrote:
Hello all,My first issue is that I am self employed in sales and whilst my income is above average, getting finance obviously has it's hurdles.

Hi Mark,

First of all- great post Emma.

Mark – how long have you been self employed? self employed is NOT the end of the world…i mean there are over 2.6M registered and active…[Read more]

In terms of financing…
Commercial lending is very similar to residential lending, with only a few pitt falls to avoid + a few tricks to execute.
In fact, a few lenders uses the SAME form or similar form for the commercial and residential lending.
Main differences: Points the lender will look at;

1. Rate is higher – starts around 8.5% variable…[Read more]

investin wrote:
I have never been near Commercial Property however when I see a Strata Title office for $575,000 (No GST applicable – to be sold as a Going Concern) with an annual income of $40,790 the return is a lot more impressive.The property is located in a prominent inner suburb of Perth in a busy area with good surrounding tenants.What…[Read more]

Im with Jamie on this…peace of mind + claimable.

Regards
Michael

Ohhh god 4 BAS???! geee that reminds me now why i dont recommend Bank-west’s Lo-doc product

Bankwest is not great for construction because they dont provide a lot of flexability; it’s their way or NO way!

1. 60% LVR for low doc construction is pretty standard- with the well known banks anyway.
2. If your after a 70-80% LVR…then there will be…[Read more]

Im with the anothers..OTP is a big no no for me…
1. Your paying today’s price…by the time it’s finish the market would be a lot different…
2. Investing 10% and not seeing the good till 1 + year later, that’s one years rental yield gone.
3. Risk of not completing/delays , price increase, construction problems etc…
4. Dont know hows the…[Read more]

*** bank-west is def not a low doc provider i would consider for construction…as a matter of fact Bank west is not one i would recommend for standard full doc construction ( unless ur a existing client) ….let alone a low-doc loan.

Regards
Michael

No doc loan- are fading out for sure…i only know of one small lender that still offer this- but most likely wont be for long.

Low- doc- It’s still around i can guarantee you that! – however it’s slightly different and the bank do ask for different paper work + LVR is much lower, which bank…out of 42 that i deal with 15-16 of them still offer…[Read more]

FHOG does not have a deadline yet….you will still get your grant.( NSW)
Shane was taking about the FHO-B (bonus) which is slightly different.

Regards
Michael

ferdinandch wrote:
I am back from my big day. Can anyone recommend me a book that can explain steps purchasing first home? I am about to buy my first home next month, yet unsure steps to be taken.

I dont think there’s any book that’s worth purchasing….
The big 4 banks have a information booklet that you can get fro the branch/download which…[Read more]

ahah alright one at a time now…hold your horse

I look forward to your email as well Simon.

Regards
Michael

Hi mate,

Im alwasy happy to help, many years ago someone helped me start up my online bushiness and now i do it full time with a great bunch of great passionate staff. – i believe in good Karma…so it’s my turn to help where i can

Shoot me an email or give my office a call and we can have a chat; and ill see if i can get you connected with a…[Read more]

http://www.washingtonbrown.com.au/

Put in the basic details- age, location etc…and it will give you a rough quote.
Also instead of paying $450 which is the full service, you could go for a “basic service” where YOU provide al the pictures and details + measurement of the unit and they will provide the reports based on your pics and details -…[Read more]