let us know how you go.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

these sorts of places are very hard to get finance too and this will hinder resales and effect values. I would not consider one of these deals myself.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Doofus

There are not too many benefits to buying in a company structure. Consider a trust instead. Do a search under trust and you will find heaps here.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

House values can very quiet a bit, so who are they to say how much it is worth. Why don’t you consider getting two valuations done. Tell the valuers the purpsoe of the valuation and ask them to make it as low as possible, and then use this to justify the sale price.

5% is still a good yield, there may be good capital growth in years to come, so…[Read more]

Newgen

Shit, that’s bad luck. Can you remember any details of how the person contacted you. eg is their phone number left in your mobile phone? The type of car used etc, You could give that info to the Police (they are unlikely to do anything for ths amount though).

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Sounds like you might be with GE on their 90% low doc. Since you have only recently settled, there may not have been much growth, so it may be difficult to refinance on a low doc basis as you will only get 80% of value.

But being such a high rate, it could work out cheaper if you withdrew some money from a few credit cards and use these funds to…[Read more]

bear in mind that they are probably jsut going to ‘buy’ a company off the net for you and charge a fee. Maybe you could get hte advice and then set it up yourself.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Kay

Thank you for those links. I actually did this course about 3 years ago and paid about $5000. Luckily I obtained a refund – only after many letters and complaints.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Greg

It is not too bad, but I agree it doesn’t look too good either. I suggest you contact the lender (complaints section-customer liaison??) and ask it be removed.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

There are a few people around that promote a similar strategy. it will work as long as you are not borrowing more than your portfolio is growing each year-say no more than 80% of growth. It is not a bad strategy, but very risky.

There are also lenders out there that will lend to you based soley on the security value. So as long as you have…[Read more]

Yes you can control things to a certain degree. For starters you can put yourself down as the contact person, rather than an agent. that way you can be sure you will actually meet the valuer. When you meet them at the proeprty, you can then hand them your research into comparable sales and generally talk up the proeprty.

With some lenders, you…[Read more]

hi Mike

There may be different tax implications depending on when your mum actually purchased the property too. It would be best to speak to a a lawyer who specialises in this area.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

It doesn’t really matter whether you are buying residential or commercial – it would make no difference.

At least consider setting up a trust. Talk to another accountant for a different point of view.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Mano

I am no expert, but have done 3 LOs. What do you want to know?

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Hi RMK

Sounds like a good deal. Are you sure about the finance tho?

$1 mil borrowings on $1.35mil val = 75% LVR

Based on purchase price this would be 122% LVR.

Borrowing on value would be possible, but this LVR is rather high. I am not saying it would be impossible, but just wish to point out it will be rather rare to go this high.

good…[Read more]

LifeX, good luck and let us know how you go. I hope your LVR is less than 80% as it will be much easier.

As for loans being called in, there is a rumour going around that one of the major banks recently called in the loans for a certain big wrapper. He had to refinance about 40 loans in a hurry.

Terryw
Discover Home Loans
North…[Read more]

siacci

The loan will not be larger just because of x-coll, the security base would be larger, but it would not affect the loan, so therefore the commissions won’t change either.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Randallc

I am not familiar with Rick’s LO style, but if it would normally rent for $330 pw and you want to charge $475, this is $145 pw extra in rent, but you only give a $25 pw credit. So it seems very expensive to me. Plus the option fee and renewal fee.

This may be compensated by the high growth (projected) in the property.

It sounds good…[Read more]

Steven

ANZ actually let you go over 95% with LMI capitalised. ie LMI on top of the 95% loan. (I’ve personally done this 5 times).

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au

Bnr

Sure. There are various ways you can structure it, but check with your solicitor first.

Terryw
Discover Home Loans
North Sydney
terry@discoverhomeloans.com.au