Colin Rice replied to the topic 32 and planning for retirement what next? in the forum Help Needed! 3 years, 2 months ago
I would consider keeping the Penrith property and borrow against it as @terryw suggested.
Speak with a broker who understands property investment loan structuring first up to see whats possible.
Colin Rice replied to the topic Problem about Switching ip to interest only assessment in the forum Finance 3 years, 4 months ago
Pre royal commission this was a relatively easy fix, now, as @terryw has already stated it will require a full application to assess serviceability under the new repayment schedule. Being self-employed, depending on your scenario can also complicate matters.
Colin Rice replied to the topic Problem about Switching ip to interest only assessment in the forum Finance 3 years, 4 months ago
Pre royal commission this was a relatively easy fix, now, as @terryw has already stated it will require a full application to asses serviceability under the new repayment schedule.
JustinmG replied to the topic Portfolio Package & Cross collateralised in the forum Help Needed! 3 years, 8 months ago
JustinmG replied to the topic Structures for larger positively geared portfolio in the forum Help Needed! 3 years, 8 months ago
That’s for the reply guys.
Thats exactly what I was thinking @benny & @terryw .
I thought it may be a quicker process for me to gather a couple of properties in my individual names, but will stop me growing anything substantial fairly quickly.will you be posting the new information on structures and due diligence on the forum here @stevemcknight…[Read more]
sinnersavedbygrace replied to the topic Surely that CAN'T be right !! ….. or is it?? in the forum Opinionated! 3 years, 11 months ago
Guys, sorry but what am I missing here. I did the numbers on excel but I didn’t get to the $40k that you both did.
I got the final number of $891,289.6. Here is my excel calc (link to the shared file in Dropbox)
I’m sure…[Read more]
sinnersavedbygrace replied to the topic Investment property finance – Tax in the forum Help Needed! 3 years, 11 months ago
I was reading a list of must-read thread for beginners that Benny put together, and this article is one of them.
This is great! I have a question please sir. My question is why this option is not available – Refinance the old PPOR and use the cash from that refinancing to pay down the debt in the new PPOR?
Best regards,
Anton
sinnersavedbygrace replied to the topic Need Help with Trust Deed in the forum Legal & Accounting 3 years, 11 months ago
Thanks for your reply @terryw.
I think what he meant by ‘straight forward’ is that there is a general template that list all the usual clauses for simple Trust structure with few family members as beneficiaries.
But if you think there is no such thing as general template for Trust Deed, I will have to find a lawyer/accountant to set this up…[Read more]
George Poullos replied to the topic Thoughts on setting up a trust to hold an inherited investment property in the forum Help Needed! 6 years, 3 months ago
Your situation sounds like it it’s in need of specific legal/tax/estate planning advice.
Perhaps get in touch with @terryw from this forum. He specialises in these areas.
Brian replied to the topic My vendor did not pay for council rate in the forum Help Needed! 6 years, 6 months ago
Thank you guys for your quick reply @benny @terryw
There were many back and forth emails between me and my solicitor just to trying to chase up with the issue.
My solicitor forwarded the bills, overdue notice and the settlement adjustment agreement to vendor’s solicitor and he replied us saying his client is going to pay.
I am not sure how…[Read more]
Brian replied to the topic My vendor did not pay for council rate in the forum Help Needed! 6 years, 6 months ago
Thank you guys for your quick reply @benny @terryw
There were many back and forth emails between me and my solicitor just to trying to chase up with the issue.
My solicitor forwarded the bills, overdue notice and the settlement adjustment agreement to vendor’s solicitor and he replied us saying his client is going to pay.
It seems like my…[Read more]
Benny replied to the topic My vendor did not pay for council rate in the forum Help Needed! 6 years, 6 months ago
Hi Brian,
“our vendor did not pay the council rate that we have agreed to the settlement adjustment sheet.”
Now, I am not someone versed in all the ways of property and the legals surrounding them, but I have a bit of experience. Still, if others more wise can offer extra thoughts, please do so.
AFAIK, settlement involves a lot of agreeing…[Read more]
Benny replied to the topic Where to invest $400k in the forum Help Needed! 6 years, 7 months ago
Hi Pascoe82,
Once again, Terryw is “teaching us to fish” rather than giving us one. One super important learning re Offsets (and indeed ANY accounts relating to property – savings, redraw, cheque, etc) is spelled out rather succinctly by @terryw here:-
https://www.propertyinvesting.com/topic/4997918-redraw-from-an-offset/#post-5029521Have a…[Read more]
Benny replied to the topic Where to invest $400k in the forum Help Needed! 6 years, 7 months ago
Hi Pascoe82,
Once again, Terryw is “teaching us to fish” rather than giving us one. One super important learning re Offsets (and indeed ANY accounts relating to property – savings, redraw, cheque, etc) is speeled out rather succinctly by @terryw here:-
https://www.propertyinvesting.com/topic/4997918-redraw-from-an-offset/#post-5029521Have…[Read more]
Benny replied to the topic Equity release, Offset or Line of Credit? in the forum Finance 6 years, 10 months ago
Hi Steven,
On page 1 of the “Big Picture” thread is a post about Offset Accounts. You can find that one here:-In the embedded link, there are several useful posts relating to Offsets and how to use them.
Then, on page 2 of the “Big…[Read more]
David Thiu replied to the topic How To Make Offer on Property? in the forum Legal & Accounting 6 years, 11 months ago
@Terryw: I’m not ready to make an offer yet… Was just gathering information on how to proceed with the execution. I’ll probably have to contact the agent to find out more information about what the vendor’s needs are and tailor an offer to suit them. All I have is the form behind the property brochure, but it only gives you one option for offer.…[Read more]
Corey Batt replied to the topic Structuring and Financing for Positive Cashflow Portfolio in the forum Finance 7 years, 1 month ago
Everyone asks it. Not only because this loophole (it really wasnt one, specific lenders had very specific policies permitting it under certain circumstances) has closed and there’s a standardisation of input of data through a third party channel for most institutions – it’s being asked and to not note it is mortgage fraud.
Lenders are digging…[Read more]
David Thiu replied to the topic Structuring and Financing for Positive Cashflow Portfolio in the forum Finance 7 years, 1 month ago
@Terryw: Thanks for the clarification. I just didn’t understand how an entity could borrow money without proving any source of income.
@Jaxon: My goal is to make +$500 positive cashflow per week, and I’m thinking maybe this could be achieved by finding 10 properties yield $50 positive cash flow per week. Maybe renovate and increase the rent? I’m…[Read more]
David Thiu replied to the topic The Siacci System for Vendor Financing in the forum Buy, Swap & Sell 7 years, 2 months ago
@Terryw: I’m not really sure – that’s why I wanted to learn more about the Sciacci System, and how their strategies can be implemented for renovations… Maybe this is more like an Option to Buy the property for e.g. $300,000, whereby you have early access to the property for the renovation, and then you onsell that option for $400,000? I don’t…[Read more]
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