I think you should at least have a pre-approval in place before making an offer. You can make the offer subject to finance and having the preapproval will speed things up. need around 5 days for the full approval as the valuations need to be done etc.

I think that if you have a subject to clause, then the cooling off period doesn’t apply until…[Read more]

And read the Book on trusts: “trust Magic” by Dale Gatherum Goss (Melb based accountant).

Terryw
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Terry@discoverhomeloans.com.au
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I agree that IO with an offset is the way to go. Mainly for tax reasons. Maybe an example with explain it better.

e.g.
You have a $100,000 loan. after several years of paying PI the balance is now $50,000. You want to buy a $50,000 ticket to travel around the world. So you withdraw $50,000 from your home loan, bringing the balance to $100,000.…[Read more]

You just have to weigh up the charges of transferring money overseas. I know ANZ charges $22 to send overseas from Australia, plus they make a bit on the exchange rate too. Could be costly to bring it back too often.

What about just leaving it there and paying down the loan?

Terryw
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Terry@discoverhomeloans.com.au
Send an email…[Read more]

I think you have missed the boat by about 4 years! A friend of mine purchased a +ve cashflow unit is central Shanghai and it doubled in value within 2 years.

Beijing seems to be booming also because of the olympics, but there are probably still smaller cities out there that may have some bargins.

Terryw
Discover Home…[Read more]

There are some lenders that will lend based on end value of the project, even on Low Docs.

Terryw
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Terry@discoverhomeloans.com.au
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You just have to weigh up the charges of transferring money overseas. I know ANZ charges $22 to send overseas from Australia, plus they make a bit on the exchange rate too. Could be costly to bring it back too often.

What about just leaving it there and paying down the loan?

Terryw
Discover Home Loans
Terry@discoverhomeloans.com.au
Send an email…[Read more]

There are some lenders that will lend based on end value of the project, even on Low Docs.

Terryw
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Terry@discoverhomeloans.com.au
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There are some lenders that will lend based on end value of the project, even on Low Docs.

Terryw
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Terry@discoverhomeloans.com.au
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Try Bankwest for low exit fees – Lite product.

Terryw
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Terry@discoverhomeloans.com.au
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double posting
see https://www.propertyinvesting.com/forum/topic/26500.html

Terryw
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Terry@discoverhomeloans.com.au
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Always should consider a discretionary trust to minimise any tax and to protect your ass.

Terryw
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Terry@discoverhomeloans.com.au
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Nathan, are you giving away the kit or selling it? Your headings says ‘give away’!

Terryw
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Terry@discoverhomeloans.com.au
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Once you buy one you can then keep on saving and wait for equity to build up to buy the next. As a property increases in value, you can increase your loan on the property. This extra money can then be used as deposit for the next one.

You can also do things to increase the value quicker (= more equity = more deposits = more properties) such as…[Read more]

To get the mortgage, the investor would have to be on title. ie own part of the property. This may not qualify you for the discount.

Another way around it would be to borrow the deposit from the investor and for your mum to buy it by herself.

Terryw
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Terry@discoverhomeloans.com.au
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There is another one called TICA apparently. I am not sure how you can check, but if you know a realestate agent, you could get them to run your name through.

They are becoming a bit of a problem as people can be unfairly listed, and have not idea they are on there, and therefore cannot dispute the listing.

Terryw
Discover Home…[Read more]

Save your money,
For a free 3 day property course in Melbourne in Jan see http://www.propertyeit.com

Terryw
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Terry@discoverhomeloans.com.au
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I have the same concerns as Art. What if there was a fire or similar and someone was killed. The owner would be sued, and the insurance probably wouldn’t cover this sort of thing.

Terryw
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Terry@discoverhomeloans.com.au
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There are two types of Vendor finance.

1) Lending the deposit to the purchaser. Usually called ‘vendor finance’

2) Selling to the purchaser using an installment contract. ie they pay you off in installments over 25 years. Your role is similar to the bank, but you keep the title in your name till they make the last payment.

With option 1 you get…[Read more]

What sort of return are you getting on your managed funds? There is one that returned 76%pa last year.

Pulling your money out for tax reasons only may not be wise. You will end up paying more tax on the property anyway.

If you have personal debt, then it is a different story. Maybe better to pull the money out, pay the personal debt down, and…[Read more]