depending on the area you get…

Spoke to a insurance broker last year and he had a case where the tenant was not given his 1st preference of place to live in so he burnt the home down..so that he could get his 1st preference ….

All i could say- i will think twice abt buying NEAR a depart housing…and in regards to buying one or renting one…[Read more]

20%+ return to live off and no job …. buddy sorry to say…Not possible unless your wiling to take on MASSIVE risk…
If there is such a way…i would have sold all my property and retire

In order of risk(low-high)

Cash – 6% Yield
Gov Bond – 6-9%
Res Property – Range from 4-18%
Company Bond- 8-13%
Shares- Not limited
Comm Property-…[Read more]

Jack sorry to say in that case your a true self employed.- since the company has no obligation to keep you as a “contractor” as such.

I would say the big 4 banks would be your next best frds, i have placed many loans for sefl employed with less then 2 years ABN via the big 4…it depends on your “story/history” and what history you have with…[Read more]

What your looking for is joint syndicate funding-Where a group of ppl pool their funds together for a set project.

However in joint syndicate the contribution of money is even… meaning one can not pay more or less…so if your lacking money i say look into standard property investing and take the “slow route” ie 95% LVR loans…

Min…[Read more]

Totally agree! and unfortunately this is a common story! I remember one loan clearly..maybe because the loan amount was $2M+ but the convo went like this…

” No i don’t have any kids”
” you sure?”
“Yes it’s only me and my wife”
“Why does your statement have regular “family allowance coming in?”
“o that…my son and daughter are 2 and 3..dont…[Read more]

Been so busy!!! sorry for this late reply…

Amy- being a new and basic investor i say stick with a basic structure else you will just get to confused…DFT has it’s benefits but also some disadvantages as well ( ie can not claim any deduction from your personal tax income).

I personally have a trust structure for my “risky” adventurers i take…[Read more]

Lastly it’s normal standard rate…No extra.!

Sorry havn’t been on for a while- So busy!!! rates are so competitive and it;s always on the news….

Ferdinand – Did the Cal- yes you will be fine with serviceability for the amount your after.

In regards to LMI–

–ING—
NO LMI at 85% — Must be in job for 2 years MIN! ( so that’s a no for you)
Reduce LMI up to 95% — Same as…[Read more]

I know Richard is a broker…he might be a planner as well- i wont be surprised!

1. Yes there are lenders that offer 85% NO LMI and some offer reduce LMI up to 95% ( rate are pretty good as well 6.95- 7.1%)
2. If the valuation fall shorts you would just have to increase the LVR amount your borrowing for the short fall if you don’t have any spare…[Read more]

just letting you know, Most MB dont charge a fee…it’s a free service to the client- we get paid by the lender… similar to going to a bank – the staff is paid by the lender/employer.

The only different with MB is that YOUR th client and YOUR the one we work for

And no you wont have problem using the funds from your CU to fund it to a…[Read more]

Your lender wont say anything about the population till the valuation comes in….Lenders are only experienced with the “lending part” they leave the details of the valuation to the valuer experts…If the population is under 10,000 this will be noted on the valuation file and the max LVR the lender “may” offer around 80% or less!

Which CU are…[Read more]

Amy i dont know your full financial but what i will do is give you a few unbiased pointers.

1. If your happy with your CU – stay with them,…most CU in term of rates tends to be the same., if the rate your getting is under 7% then i say stick with them since your happy with their service etc..Service > rate ( as long as it’s not over priced)

2.…[Read more]

Thanks for that Richard, will keep that in mind…
I’m still pretty green when it comes to SMSF.

Regards
Michael

A lot of ppl dont sign up.. because they are not confident they can afford to buy a place within the 4 years time frame.

In general, as long as you:
1. Can afford the loan amount your requesting
2. Have a “FULL time job” not contracting ( contracting is fine…but must do it for min 2 years)
3. PAYG paid- ie not self employed
4. Been with the…[Read more]

you must buy ” WITHIN” 4 years. But must have an active account for one full financial year.

Meaning after the 1st year…you can buy when EVER you like. ( 1.5, 2, 2.5, 3…)..up to a max of 4 years.

Regards
Michael

ahah yes that would work too Lalibella

MarJac and Scott is right- get the place revalued and you may find the LVR is fine for you to service on your own. But even if they do sell, your parents are still liable if you default even without their home.

Regards
Michael

Yes – if you have proof it;s for investmen purpose- Ie have a leased agreement btw you and the agent that cone the place is built it will be rented out and given to the agent to mange…

Regards
Michael

Consider online/ email/ phone consultation….it may be more cheaper, simpler and can do it at your own leisure and time.

Regards
Michael

From what i understand it’s only worth while to take out a SMSF if you have $150,000- $200,000 + else the fee’s involved would eat up any gains; Unless you have a strategy where you can make constant 10% yield.

Google a bit more details on SMSF and see whats involved + what the fee’s…[Read more]