Only claim the tax benefit for the title deed holder of the IP…doesnt matter whos on the mortgage.

Reagrds
Michael

To be honest, i think you will have trouble finding any lender to consider this deal/

With vendor finance your limited to really only 6 lenders- and all 6 lenders requires genuine savings….if this is not urgent, you can convert this NGS- to a genuine savings…and then you may have a chance- pending the rest of the deal’s detail.

Reagrds
Michael

As Richard mentioned, need approval from FIRB. The 4 keys points are-

1. Can only buy for Investment purpose ( limit applies)
2. Must be residential ( unless your paying under a company’s name)
3. Can only purchase NEW properties, off the plan, land with construction to start within 24 month….no existing dwelling.
4. LVR is set at 70% – income…[Read more]

I had a client in a similar situation- and they were able to cancel the contract and get their 10% back.

If the new company is asking you to “sign up” with them. then it sounds like you have the option to leave and get your money back or go for the new contact.

Regards
Michael

You can order a valuation first- but you will be paying for it..and can be a costly exercise if you dont end up buying the home and going to a few auction. I currently have 2 client who are doing this; paying valuation upfront prior to auction- as they are buying to their max “LVR” and the property type they are purchasing has a huge influx in…[Read more]

Sorry- you will still have the pay the market value of the stamp duty, which ever is higher.

Which state are you in?? i know in VIC and some another state; no stamp duty is payable if you “add/ remove ” your wife to the property-

Regards
Michael

Stephen – you can claim the benefit from day one and dont need to wait till the end of the year…; i think it was called – Income Tax Withholding Variation – previously known as a Section 22?? variation.

When i had my first IP, i had my accountant do the above…but once i started to build on my IP portfolio and went self employed it got a…[Read more]

There are lenders that still look after student accommodation- but the loan needs to be massaged to suit the lender’s requirements.

Need to know the following:

How many squ meters?
If it self contained?( ie shared Laundry/kitchen?)
How many unit’s in the compelx?
Is this off the plan? or existing?
Is there a controlling agent ? ie SHA?

Just be…[Read more]

David where did u hear this?

Regards
Michael

Euro if you read my post again, it’s been broken into 2 part (2008-end of 2009) and present. Either way this tread is going out of topic; and it looks like your looking for a “particular answer- no matter what we say” so we end the tread from there.

Each forum reader can decide what information they process and take up….

Regards
Michael

alright, stay with CBA

The LMI alone will make a refinance not worthwhile…and 7.11% is still a good rate for a bank that offer extensive network, good customer service and branch access etc..

Regards
Michael

OK. what’s the current LVR ? and what is your total borrowing and value you currently hold with CBA??

Regards
Michael

Is that rate 7.11% for a LOC? if so; it’s a pretty dame good rate….

Either way even if you did try to refinance to another lender; the cheapest you will get from a major bank is 0.1% off ( NAB) and the most you will get off from a non-bank is around 0.2% ( BMC) – not a great deal! after considering you will have to pay for the application fee/…[Read more]

Richard is correct, here is a bit of history lesson. Euro you are true when you say they are “securitised lenders” and technical speaking ( book wise) it’ doesn’t make sense for them to lend for such specialized security, but at the end of the day- they do…i can;t speak for all brokers; but my firm alone has placed many loan via securitised…[Read more]

Richard is correct, here is a bit of history lesson. Euro you are true when you say they are “securitised lenders” and technical speaking ( book wise) it’ doesn’t make sense for them to lend for such specialized security, but at the end of the day- they do…i can;t speak for all brokers; but my firm alone has placed many loan via securitised…[Read more]

Richard is correct, here is a bit of history lesson. Euro you are true when you say they are “securitised lenders” and technical speaking ( book wise) it’ doesn’t make sense for them to lend for such specialized security, but at the end of the day- they do…i can;t speak for all brokers; but my firm alone has placed many loan via securitised…[Read more]

Richard is correct, here is a bit of history lesson. Euro you are true when you say they are “securitised lenders” and technical speaking ( book wise) it’ doesn’t make sense for them to lend for such specialized security, but at the end of the day- they do…i can;t speak for all brokers; but my firm alone has placed many loan via securitised…[Read more]

under 50 for living space – excluding the carspace etc….

Placed one loan via them before for a FHO in Chippendale- 44 internal with 10 for car space.
And the LMI was placed via QBE- within their acceptable guild-lines of under 50 inclusive

Euro- dont accuse till you have done the work. every deal is possible it just depends how the deal is…[Read more]

Euro 73 – i love your posts! it’s always a fun educated read

Regards
Michael

what do you mean by “really work”

Not to sure about the 10 years part???? if your taking about +VE (positive geared)- it depends on what you buy and where; all of my 5 IP are positive from day one. ( on a 80-90% LVR)

Regards
Michael