Here is a quote:

So, here’s my fair-dinkum (that’s Aussie for ‘real’) challenge to you, Robert G Allen.

If your claims are true and you can turn just TEN ordinary Australians into millionaires with your methods, I will pay you $1 million. If not, you pay me $1 million.

http://www.jenman.com.au/NewsNews1.php?id=267

Terryw
Discover Home Loans
N…[Read more]

Yesfella,

I would also be interested in hearing more about how you structure your deals.

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

Hi Yesfella

I don’t know any in Newcastle, but there is one in sydney, in case you don’t have any up there.
Anthony Cordato
http://www.businesslawyer.com.au

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

It may not be a mortagee sale. These usually go to auction. It maybe the agent just made an intention ‘slip’ just to suck your in and get your attention.

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

Do a search for “Lewis O’Brien” and you should find some contact details.

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

I was speaking to my accountant last week and he said one of his clients formerly owned a pub. They had just sold it recently and they received a call form the new owner who was very happy as it was taking much more than expected. The accountant asked him for a few numbers and they compared takings to previous years. It seems it was suddenly…[Read more]

I have only done 6, and only one of those did a ‘runner’ ie left in the middle of the night. It was not really a hassle though, there was a short period where I had no income coming in, but I kept the deposit, kept the property which had grown 20% in value and I got a court order saying the tenant still owed me money. I chased him briefly, but…[Read more]

I have used a few different insurance companies, CGU, Combank, and Westpac. I think they all give multiple policy discounts, but there ain’t much difference in the charges between them all. I’ve also used an insruance broker, but don’t think it is worth it with the fees they charge.

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

Kay

You can use your LOC for anything, that’s why they are so dangerous for some people.

If you use some of the LOC for buying a car etc, then the money you have available for deposits will decrease accordingly.

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

BTW, there are solicitors that can help with the removal of defaults etc from the credit record. If the defaulter has not followed the letter of the law when making the listing, they can be sued. Often the threat of legal action is enough to get them to remove the entry.

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

I don’t want to say too much, but this person had just overcommitted by buying too many properties too quickly (even not having deposits did not stop her). The market just turned a bit too quick. She has not got a job and has not even made one payment on some of her loans, ever!

On the positve side, she has fairly large amount of equity across…[Read more]

Hi Mel

The client has a few coastal properties and was trying to hold her till summer when she could get more money. She basically has everything on the market now, but won’t make it in time.

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

They do occur in Australia. I have one client who is currently being foreclosen upon in about 3 weeks. (She is beyond help loanwise).

I think you will find that these mainly go to Auction, and they generally do not advertise that they are foreclosures. So they should be selling for market price, which makes it hard to find a…[Read more]

Ticky

What was the cause of the blockage? Was it just a large POO or were the tenants flushing things down the toilet that they shouldn’t have??

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

This happened to me long ago too. I wnet to the Colonial Bnak (before I became a broker) and the guy there miscalculated the mortgage insurance by about $3000. I complained to him and the bank manager, but they just shrugged it off, despite the fact that I had it in writing. So in the end, I just wore it.

But you may be able to get compensation,…[Read more]

I actually have a court judgement on my CRAA because of this. The council was sending the rates notices to the wrappee who was ingnoring them. The council eventually too it to court and put the judgement on. I immediately paid it ($500), but it still hurts when getting finance. All this happend on the first wrap I did about 4 years ago, and I have…[Read more]

It will be hard. They will probably need to look at your track record, off the plan sales etc. Some are willing to lend on future value.

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

Roofarmer

I beleive that you can distribute the gains to any beneficiary and the tax payable would depend on their income. I assume it would be 30% only if distributed to a company.

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

You could try Bruce Whitting at http://www.mintgroup.com.au
He is very good, but used to be hard to get to see. Now he has a number of accountants and consultants working with him. Not sure about after hours, but you could ask.

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

Mumarina

I think the answer to your questions would be “it depends”. Generally brokers can’t really get you a better deal than the bank, but sometimes bank staff do not offer their clients standard discounts when they are available (unless you ask).

Brokers can sometimes strucuture a loan deal to increase borrowing capacity. Bank staff could…[Read more]