OK,

If it’s for UK, and NZ- Do able
US- hardier
Dubai + any another country- very hard

There’s 2 way around this for the UK and US purchase anyway.

1. Australian based banks- IF you have another property in Australia, and it has a bit of equity in it… you can use the equity from this to pay for the full transaction cost. Sounds easy…but…[Read more]

I dont have any myself …but i have helped finance a few of them; one currently in place for a block of 26 units near USYD.

The most common transaction are investors and builders buying warehouses that are mixed zoned uses, converting the warehouse with high ceiling to boarding houses, student accommodation, units, age care , child care…[Read more]

What do you mean?

1. Are you a overseas buyer wanting to buy an Australian property ?
2. Australian who wants to invest overseas?
3. What to use overseas income for borrowing??

There are lenders for all 3 type, but it just depends which one your asking for?

Regards
Michael

Hi Jon,

Dont pump more into the PPOR directly but rather keep it in the offset ( if you have one) , having cash is more beneficial then equity, also as you mentioned this PPOR will become your new IP …if that’s the case pumping cash into it wont help your cause.

Rough Cal on how much equity you could access at 80% , avoiding the LMI:
Loan :…[Read more]

Yea Misa is the worst offset account EVER!! – the advantage is always on the banks side…

Most lenders these days dont charge much for the offset; like ING only an extra $8 per month…it’s pennants from the amount of savings you get.

Regards
Michael

There are a few; but you will need to confirm with your accountant which one is suitable for your needs.

The way it works is, since your goign to be gaining $xxx,xxxx amount from the sales; you would want to reduce the income you get THAT year…and no im not taking about making a lost or retiring for one year ahah ( i wish) ….it’s about…[Read more]

Marie, one advice i can give you if are selling your IP, is to dilute and lower the CGT as much as possible.
There are a few ways to lower the CGT payment; and it can save you thousands in tax!

Speak to your accountant.

Regards
Michael

Hi Raz,

Sorry to say, your loan has been set up wrongly for your purpose anyway.

1. Any amount you live off in the redraw is technically not tax deductible in the ATO point of view…i mean if you redraw $100 there and $200 there …i guess it should be much of a concern because the amount are low…but once you start redrawing $1000+ etc…then…[Read more]

A nice long read.

My exp:
– My family has always been a brick and mortar type of investor – so it was natural for me to enter this sort of investment as well.
– Investing in property involved a bit more intital cpaital and time VS shares– but overall less risky and more control.
– Didn’t want to rent, because moving is a hassle..and some places…[Read more]

Welcome to the forum Darcy.

Regards
Michael

Lastly; some business are hardier to finance then another, here is a quick list from my experience:

—-Easier—-
Car park
Aged care
Child care
Motel/Hotel ( under 25 units)
Pubs
Car work shop
Offices ( location dependent)
Taxi plate
Management right
Shop front ( zoning conditions)
Mixed zone
Boarding house ( can be part of residential as…[Read more]

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 ( not intro)
2. Rental…[Read more]

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 ( not intro)
2. Rental…[Read more]

bella84 – It’s untrue what the branch staff is telling you.
1. BW allows equity release
2. You are free to take the IP loan with any another lender as you wish, with the above equity release.

The advice you have gotten is a standard response i hear ALL the time. it’s a way to “make the sale” because at the end of the day BW wants that new…[Read more]

Scott No Mates wrote:
I use LBW @ Chatswood – good team. Probably a bit conservative.

Conservative is no good for a accountant

Regards
Michael

angelinsydney wrote:
if you're investing in a student accommodation under 50 sqm, higher LVR is required.I hope this cleared things up for you.Angel

Angel meant to write a “lower” LVR

Regards
Michael

Hi bella84,

It’s good that your thinking and planning for each buy…i see alot of people these days; especially young couples who just buy a whole bunch of IP in a short period of time and get stuck with a massive debt and when the wife gets pregnant instead of celebrating, they are grieving.

My suggestion;
Release some equity to buy your IP,…[Read more]

Hi Closer ( sounds like your “close to wining lotto )

As Richard mention, any lotto wins, tax return, bonus- Place them all into an offset account; it provide a reduce interest repayment and flexibility

In regards to the monthly repayment;

1. If you add this to your homeloan direct ( as a redraw) then your monthly repayment will automatically…[Read more]

Hi,

Im not to sure i understand your question.
So is it the insurance company or the Bank that’s paying you out for the flooding??

In regards to the credit part. Like every company; employees follow a set guild-lines and are responsible for each clients dealing….so if the situation is too complex the credit guys JUST won’t go there…unless…[Read more]

Hi Mxd.

1. if you want to buy a trail book, ask your aggregator, they would have plenty for sale. Most loan book these day sell for 2:1 ( 3:1 is bit high, unless it’s a premium loan book with lots of SMSF clients etc….)

2. If your wife dont like finance, dont push her….you must have the passion and enjoyment to succeed in this…[Read more]