Looks like you have done very well there Wayne!

With that sort of equity, you could buy a <edited> load of property. If it has worked well so far, maybe keep on the same strategy. I would just be worried about prices being too high at the moment in Perth.

Also, have you considered some shares too – diversify a bit?

Terryw
Discover Home…[Read more]

Companies do not get the 50% CGT reduction after 12 months of ownership.

Look into trusts

Terryw
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If you are borrowing, have you broker look at the deed. Accountants and solicitors will not know lender requirements.

Look at for named beneficiaries as some lenders want guarrantees from every adult named beneficiary.

Why have two directors, creates more risk and complicates loan applications and maybe borrowing capacity.

Many lenders lend for…[Read more]

I’ve done it, many years ago.

It was very cheap then, and worth the money.

Terryw
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Keeping them all separate would be ideal. eg. what if you got all the loans in place, then wizard said you couldn’t borrow anymore – you would have to go elsewhere, which would be difficult if they had you tied up.

I prefer LOCs on each (doesn’t have to be a LOC btw). Then you can use these as deposits and borrow the rest from the same lender, or…[Read more]

Originally posted by sev3n:
Hi guys,

Sven.

Hi Sven, here’s my take on your questions.

1) It may be a good time now as prices are cheap. But they may drop further too. You just have to do research in your area, and make an educated guess.

2) I think any unit is not a very good investment. Land is what goes up in value, buildings depreciate.…[Read more]

I agree with Richard, a brand new trust can get finance just as easily as an individual.

As for the directors etc of the trustee company, why bring you wife into it? You are only creating more risk and reducing borrowing capacity.

Bridgebuff, cannot see how that will affect future loans. All loans would normally be in the name of the trustee…[Read more]

I think the LMI companies will only accept loans based on valuations if there has been 12months or more between signing contract and settlement.

If the value at settlement comes in at less than 80% LVR, then LMI is able to be bypassed. I have done a few loans like this will Bankwest. 2 to be exact. Haven’t seen anyone, other than these two…[Read more]

You just have to keep asking, go to various meetings relating to investors, talk to mortgage brokers, solicitors, real estate agents etc.

Terryw
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Hi

Tools, thats an unusual condition isn’t it!

These scammers could be after people’s personal information for identity theft, but they are likely to suggest the loan is approved, subject to a small application fee. Once you have paid the fee, they may announce more fees to try to milk some more money, then they disappear, never to be heard of…[Read more]

Kyle

These loans are just capitalsing interest. Nothing special, many loans can do it – lower interest rates and lower DEFs.

Terryw
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that is nothing special. You could find your own property and possibly save thousands.

Terryw
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Originally posted by condog:
No. Not legally.

I disagree.

Terryw
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You could also try Bankwest, the Lite Homeloan and the Lite Plus.

Terryw
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Also RAMS currently have an 85% LVR Low Doc loan with no ABN required – but still have to have been self employed for 2 years.

Terryw
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Yes, Low Docs are dangerous. One of my clients has already got into trouble with the child support agency about overstating his income.

Wayne, a lot of the Lo Doc loans don’t require an ABN or just an ABN for one day, 70% LVRs.

Terryw
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Keep up the good work, it is amazing how much you can spend without realising it.

Terryw
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some like to sell, others like to hold.

If you sell there are various fees – realestate agent’s commission, CGT, legals, loan discharge fees etc. You will only replace it with another property, so you will be paying stamp duty and more fees again.

If you never sell, you can keep obtaining the captial gains too.

Terryw
Discover Home…[Read more]

Why sell? You will lose your only CGT free asset and have to pay rent with after tax dollars. Not to mention pay fees on selling.

If you are employed you could obtain a loan on your home at up to 80 to 90% of its value. Then use this as deposits.

80% of $700,000 is $560,000.

If you use this as 20% deposits and allow another 5% for fees etc, you…[Read more]

further, the low docs are generally up to 80% LVR and No Docs up to 70% – No Docs generally don’t require employment history.

Terryw
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Terry@discoverhomeloans.com.au
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