Wow good work guys, it’s like taking forum help to the next level ahah
I normally buy YIP and Money, once in a while API…Richard or anybody else could you email/scan me that article? i be very interested- email to Michael@Shapehomeloans.com.au

I was going to jump onto the YIP bandwagon.. after i finish my mini development project im doing now…[Read more]

You were featured in API???

Regards
Michael

Most RA need it in writing …just to make your life hell before you leavve and the swapping process harder in hope that it’s all gets too hard and you would simply stay

But all in all, when we changed our RA; we had our new RA write to them.
It’s just a simple letter, don’t need to go into much details.

Regards
Michael

After you get your first 3 properties it’s much easier to buy the next 5,10…etc because of your total equity worth which gives you a leverage in term of buying power. Just have to make sure the right structure is used and you keep on changing to adopt to your changing financial situations.

It also helps to have a team of professional who can…[Read more]

Richard – 39!!! wow impressive.

Your tax return must be a headache- i would hate to be your accountant

Regards
Michael

Rhianna, most banks will be ok with Mat leave return. As long as you explain this to them- and provide proof ie past payslip + letter – you will not have a problem.

Regards
Michael

Personally i did something similar to the above 5 points as well i have to admit.

Property 1 – Used my parent’s as guarantor …was only 19 so yea needed a bit of help
Property 2 – after 1 year, bought my 2nd one on my own.

Property 1 went up in value- release parents as guarantor

Used the equity of property 1 and CROSSING property 1 to buy…[Read more]

Yes it can. Both me and my brother started young with the help of partents for deposit and guarantor – and now we actively search for more IP….and just build build build! – allowing us to do what we enjoy- Property invesment/developmentsEnd of the day-Money makes money.RegardsMichael

jamie – make sure the colour matchs….I made a mistake of wrapping the shapehomeloans logo (organge ) around a red colour!! it was awwwwful! RegardsMichael

Getting ready to start my property development project for a block of units in Glebe Speaking to builders 3 hrs a day is sooo much fun…oh the joy ahahhaRegardsMichael

This is tricky, you will def need to speak to a accountant and a lawyer to write a “contract for you” even thought it’s family, a written contact wont hurt.

Im going to talk from past experience, so it may NOT apply to your situation- we had a few clients who apply for a loan with a similar situation to yours…there was a few points that should…[Read more]

I suggest speak to a broker, rather then you going to different small banks your self
1. Save time
2. You dont want to many inquires on your CR ( will cause a massive problem)

Your another options is to build one first, then instead of selling it- get it RE-valued…and if the price is high you can use this as a 2nd security to build the next…[Read more]

I also notice you mention the property being under your name only…I mean if your married you can use your partner as a guarantor for the loan to make it service?

A guarantor loan would def work in this situation.

Regards
Michael

Emptyvessel -from a consumer’s point of view and someone who has NOT yet been bunrt by the bank i understand where your coming from. But it’s common for banks to:

1. Stop lending to you- once you reach a “certain” threshold, especially your income DOES NOT increase and your relying heavily on your rent and capital growth – they see this as a…[Read more]

The question is slightly to broad….be more specific.

Regards
Michael

Welcome Bahar7-

I understand your frustration! you work hard, and when you go to the bank to borrow money they reject you! like your some sort of disease or criminal.

But if you look at it from the bank’s view- if you can’t mathematical “afford” the loan, then it would be bad practice for them to lend you this money, forcing you to work more…[Read more]

Yes. get your parents off as guarantors for your first home…..and this will give you a bit more leverage power in the future as well.

Your property need to increase in value for your parent’s to be removed, a new valuation needs to be ordered ( ~$250).

P.s since it was P and I – i would expected usually within 2-3 years you would be able to…[Read more]

Emptyvessel- Best to uncross if you can especially if you plan to expand in the next 3-4 days.

I wont go into the math of the available equity, since Terry has covered that part already; But if your interested in HOW to use this available equity or the process, i will give you a very quick run down on a simple and common equity release- there are…[Read more]

Terryw wrote:

I have to say I think trusts are extremely complex. The tax law regarding trusts is vast and largely uncomprehendsible to the majority of accountants and tax advisors. The same with the law surrounding trusts. It is vast and complex with the average lawyer not knowing much about it at all.I think many people don't even consider a…[Read more]

well if that $500 for a depreciation schedule -That’s fine.

Paying LMI should not be a taboo, for some property investors ( like my self) they will use LMI as part of their wealth creation strategy; as it has some tax advantages+ ability to invest into another project faster (better cash flow) .
Im going to make a huge assumption here- since you…[Read more]