Do some thorough research before you do anything. Have a read of Peter Spann’s book(s). The recent one on property is probably the best available. Do develop a plan and follow it (ie don’t get side tracked).

Terryw
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You could try GE and Liberty. Both are non conforming and can go to 90% lvr with low docs without mortgage insurance. Rates will be high if low doc – maybe 10% plus.

Terryw
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You would simply apply for loans jointly. However, you would both be responsible for the whole debt, not just your share. So if he/she just stops paying, you would be required to do so.

Terryw
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Cashbonds are just Steve Navra’s term for an annuity. You pay money to a bank and they give you back this money over a period and pay interest. this money can then sometimes be called ‘income’ on you loan application.

eg. you have $100,000. You buy an annuity for this amount over 5 years. The bank will pay you $20,000 per year plus interest,…[Read more]

Yep, there is no easy way to buy many properties quickly unless values are rising quickly and/or you have a large income to save the deposits.

You will find over time, your rents will slowly increase and your wages will rise, so you can save more. Also the values will hopefully go up to enable you use equity as well.

Terryw
Discover Home…[Read more]

When you say ‘small’ how small do you mean? Size matters.

I would be extremely weary of any so called guarranteed leases etc. These are essentially meaningless if the company closes down or the person goes bankrupt. Could you re-lease it at similar rents if this happened?

Terryw
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Are you a licenced real estate agent? If not, you may be acting illegally in your state. check first.

Terryw
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Tom

Sydney is a big area, what suburbs are you looking at?

Terryw
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We have put many clients into ‘private’ funds. These are often solicitors funds – 7.5% interest rate or private companies etc. Rates less than 12%. generally the LVRs will be 75% or less.

Terryw
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Retire

Technically they will need to know – as the mortgage documents will prohibit wrapping wthout their permission.

But they will be unlikely to find out if you decide not to tell them.

Terryw
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Jaffasoft

What state are you negoitiating in? In Vic and NSW you can just sign the contract as jaffasoft and/or nominee. But you may be up for stamp duty twice if you have no pre existant agreement with your nominee. and it may not work in NSW if the nominee is unrelated. Please talk to a solicitor about this before you sign.

What is the 1%…[Read more]

What about non traditional lenders such as GE, Liberty, Pepper Home Lonas, Bluestone and HLP and others?

These lenders specialise in helping people with credit problems. BUT you would need at least 10% deposit and the rates can be high. – up to 10.65%

Terryw
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why bother wrapping at all? If you wrap you may get short term cashflow, but in the end the wrappees will end up with the property and the capital gains.

In a negative growth market, wraps would work well – for the wrapper that is. This is becasue you would receive a deposit and cashflow, and if the wrappees ened up walking away, you would stil…[Read more]

can’t see why it wouldn’t work.

If you received vendor finance for a poriton, and borrowed the rest, you could have the title in your name. You could then onsell via an installment contract.

Terryw
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I can’t see the point in investing in property without capital gains. But whether to sell or not would depend on a lot of things. would you have to pay any taxes, how much money is tied up, could you get a better return elsewhere etc.

Terryw
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Originally posted by hkr:
Hey following on from djones query i have the following problem with my IP loan account:

I made 3 additional repays(big lump sum payments) temporarily into my IP Loan account. Basically my intention was to reduce my tax deductible loan temporarily as i didnt have any other loans at that moment. But within a month i…[Read more]

Ty

That sounds correct to me. If you borrow to improve an investment property, then the interest should be dedcutible. The building cost of the room would be claimed as depreciation at 2.5% for 40 years, and any fittings in the room such as carpet etc could also be claimed via depreciation – usually over a much short time such as 5…[Read more]

That is a bit harsh!

Terryw
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Hi

You may get some ideas by looking at http://www.lawcentral.com.au

They create various legal documents including joint venture agreements and agreements for buying property together. You have to register, but it is all free to create the documents and view all the tips.

Terryw
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Not many will knowingly finance wraps.

Liberty have said they will, but I have not actually tested them out. Rates these days with liberty start at 6.69%, so it may be an option.

Terryw
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