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Teylu. yes I am a mortgage broker located in North Sydney. Happy to help you when your ready
Well put aussierogue!
Goldmember
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi
Here are a few ways to get the deposits:
-Wrap- and get the $7000 FHOG as deposit
-Wrap Cashouts – reinvest back into more wraps
-Lease option – Option fees
-Buy under value – revalue and with draw equity
-Buy and add value – revalue and withdraw equity
-Buy under value – borrow based on valuation not contract
-Borrow deposits – offer family and friends 15% pa
-Use credit cards – short term until you can get a valuation to access the equity
-Get seller to pay for stamp duty etc – reduces you upfront costs
-JV partners -they pay deposit
-Work at a good job and save
-Save all positive cashflow and reinvest
and
-A combination of the abovethat is all I can think of at the moment!
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Thanks Teylu.
Please call me ‘Gold Member’ from now on.[
]Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Buy using a trust. You can then disdribute the income to relatives that pay less tax than you. You could also distribute to a company and the company will only pay 30% tax.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Brett
What happens if your trading company is sued? Your house will be vulnerable. Why not just set up a trust? The income can then be distributed to your trading company anyway. Plus it gives you more options later on as well.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
They held a seminar in Sydney recently. I would be interested to hear how it all went too.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Have you thought about keeping those blocks?
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I don’t think you need to give any reason. You should be able to live next door and still claim the CGT exemption. Ring the ATO and check (but don’t give your name of course).
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Most banks will lend to a newly created company. They cover themselves by getting personal guarrantees from the directors. Infact, some banks will not lend to a company that is trading as it is too risky (trade related debts etc).
Have you had some advice on this? I wouldn’t be buying in a company name unless it is a corporate trustee. Speak to an accountant (a good one).
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
My company has access to private funds for property investment. Rates are higher and start around 8%. Conditions vary greatly depending on the location, LVR etc. I recently had a client who purchased an inner city unit off the plan. banks are very wary because of teh location, but the private funder would give 80% of valuation at 8.X%.
Terryw
Discover Home Loans
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Bluestone are a non conforming lender mailnly for people with credit problems but can be actually very good with large loans (apprx $1.5mil +). often normal lenders won’t do these high lends at teh same LVR.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Arty
yes we are mortgage brokers.
Stuart
I love ANZ products, but….. There are some good lenders out there. the smaller ones seem to be better at the customer service are.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
What? ANZ in the lead?
I recently found that 2 of those properties that I had loans for with ANZ had a major problem. The titles were not in my name-18 months after being purchased. After many phone calls and complaints etc, I found out that ANZ had not transferred the titles.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Melanie
You forgot to mention claw backs!
If a loan is paid out or refinanced within 12 months the borkers usually have to give back all or part of their commission to the lender. Thats one reason why it is not wise to rebate any commission to the client.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
I used ANZ 95% IO loans with LMI added on top (5 loans in one year). ANZ are pretty good on serviceability and also offer 100% offset accounts on IO loans.
The problem with ANZ is the mistakes they made. nearly every settlement has problems. And now I have sold 4 of these properties recently and settlement was delayed by ANZ stuff ups.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
There are a few banks now that will accept only 3% genuine savings if the FHOG is used, and one that may do it at 2%. But the location of a $70,000 property may be a problem for mortgage insurance.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Junior, No Doc loans are also called Asset Lends.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
clownsta
To get a deposit bond these days is just as hard as getting finance. You will basically have to have a pre approval in place or to show the deposit bond company that you will qualify for a loan (now). There are low doc type depsoit bonds, but still hard to get. You will need a letter from you accountant saying you a a client of theirs for x number of years, and you can afford this property. Not many accountants will put themselves on the line for something like this unless they really know you.And, depending on the location, most banks (the the 2 mortgage insurers) are vary wary of certain areas at the moment, so you may need at least 20% deposit to get a loan at compeltion (if you can’t sell).
3 years is a long time, but who knows what will happen to the property market (terrorism, wars etc are unpredictable).
But if you can secure it and onsell, you won’t actually get access to your profit until settlement.
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Hi Calron
There is a catch-The interest rates are high. This is meant to be short term finance only, so once the project is completed you could refinance with a lower rate. It will also depend on the location, anywhere on the east coast may be OK, but not country areas.
It works by getting 70% of the end value which is often enough to get 100% finance. based soley on valuation with no, credit checks, no financials etc (not even an application form).
Terryw
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
If you would like to construct the units you could get 100% finance based on the value of the end product only. No credit checks, tax returns etc needed. (Depending on the location). size doesn’t matter!
From what I have seen ,unit construction works out to be about $130,000 per unit.
Terry
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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