Try http://www.ato.gov.au/content/individuals/downloads/NAT4151-03work.pdf

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi Trecia

I’ll explain how equity works by example. Say you are building your new property that costs $100,000 (including land and construction costs) financed by:

Loan – $80,000
Your deposit – $20,000

Then in a year your property is worth $200,000 (that would be nice).

What you can do is approach your bank and tell them that you want to…[Read more]

I would guess that stamp duty would be levied on fair market value in a non-arms length transaction. Perhaps you might find the answer here: http://www.osr.nsw.gov.au/portal/page?_pageid=33,63559&_dad=portal&_schema=OSRPTLT or you can email the SRO at duties@osr.nsw.gov.au.

Hope that helps.

Cheers

Stu

Property & Finance News
at…[Read more]

Hi Kristoffer

There are a couple of commercial lenders that will consider franchise. If you email me the purchase price and the name of the franchise I can give you an indication of indicative interest rates, application fees and loan value ratios if you like (alternatively you can always call me during business hours at 03 9909…[Read more]

Hi Kristoffer

Definitely speak with other franchisees. Pick the ones you want to speak too (don’t ask head office who you can speak to). You will be amazed what people will tell you. In my opinion, that would be the strongest evidence to consider.

Naturally, normal financial and legal due diligence is also required to be completed by your…[Read more]

Hi Mini

See https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1105

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Hi aussierogue

I only have two comments.

1. Some Council’s can restrict people from renting out their property on a short term basis (i.e. holiday house). So you may want to check with the Council first.
2. Accountant – I would recommend John Filippo in the city (see http://www.filippo.com.au). He understands what its all about.

I’ve heard that Venus…[Read more]

Hi Gavalynn

As a general rule, I don’t spend anymore than $200 on any one seminar. If I was going to spend $2,500 I might just as well go out and buy a property – that will probably teach me more than most seminars. Only when I become a bit more of a “sophisticated investor” (say 10 properties or more) will I consider spending this kind of…[Read more]

See https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=1825 & do a search on the forum. There’s heaps of info on this.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Just my 2 cents… display homes can be difficult to finance becuase it normally has a condition in the contract that resticts the vendors (and mortgagees) ability to sell the property during the “display” period. Just thought you should be aware.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Some other things to think about:

– Commercial leases are normally long term (and may have specified rental increases).
– Smaller market (affects liquidity of investment)
– Sectors of commercial property market are predicted to experience high capital growth in the short-term.
– High yields.
– Because a lot of commercial property finance deals…[Read more]

Hi Jars

Re: ASIC search on David McRae – not sure why it came up blank – you’ll have to ask him. Be sure to let him know (Stuart Wemyss – ProSolution) I referred you. He’s a nice guy and knows his stuff. He should be able to add value.

With respect to the above… I’m not sure I understand. Is your basic objective to purchase capital growth…[Read more]

TheENJOLady – $500,000 in total borrowings.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

TheENJOLady

Just a tip – If your lending is over $500,000 NAB will give you more than 0.5% off – push them harder…

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

I had a meeting with NAB today. They have a very good package and will do some very competitive deals if your lending is over $500,000 – probably best in the market (I was very surprised).

However, not sure how they are on the service side. AD can attest to the fact that they can be difficult on the revaluation side of things as well.

I would…[Read more]

Ok – unlimted finance it is! I’ll get to work.

Big Cat – see my answer to Stamp Duty question above.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Try http://www.commercialrealestate.com.au/

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au

Grace, a little off the topic of mortgages… however…

To meet the definition of a self-managed super fund each member of the fund must be an indiviual trustee or the director of a corporate trustee (Superannuation Industry Supervision Act sec 17A).

Therefore, you do not have to set up a company to be trustee. You can be the Trustee in person.…[Read more]

Actually, just thinking…

You can borrow at 65% LVR and not have to provide any financial information – no income, assets, or liabilities (this is called an asset lend). Interest rate is 7.25%… but at least it allows you access to your equity.

Therefore…

$1.4 m * 65% – $514,000 = $396,000.

Cheers

Stu

Property & Finance News
at…[Read more]

Yes you are correct – $606,000.

This is how I work it out…

$1.4 m * 80% – existing mortgages = what you can borrow.

Cheers

Stu

Property & Finance News
at http://www.prosolution.com.au