Are you buying interstate or within the area you are living in?

I would need more information but at 80% and four dwellings on a single title is doable. You would be looking at CBA or Adelaide as the best lenders for this scenario. Best to get a CBA banker or broker to look at the whole application and then structure it accordingly. 

I haven't personally but I have had 3 client who have. Feedback from excellent from 2 – not sure about the third. All 3 said he was pricey.

Shukri is excellent but very pricey. 

depends on a number of things but you could finance it with a standard product and pay the lower interest and concurrently set up a loc in case you need further funds or increase the existing loan amount. some consideration to loan purpose would need to be given but it sounds like you are across that.

how many units within the title? also what LVR and interest rate are you wanting?

Freckle wrote:
Just to screw with your head places like inner Sydney can be that exception. Geologically it sits on a sandstone base with a clay overlay in parts. Many of the inlets and bays are sandstone which makes them extremely stable but expensive to build on.

and they still build on waffle pods!

Which state or council is this?

Best to pick the professional based on reputation rather than simply who does both. There are some really excellent B and P guys in Sydney who are very well priced.

The mortgage product is standard, i.e. variable, fixed, LOC, etc. We did a similar loan for a forum member whereby they subdivided their block and kept the loan with the current lender but moved the subdivided block to another lender due to the valuation amount of the other lender.

So in short yes doable and very common. To be on the safe side -…[Read more]

Grab yourself a good accountant to discuss possible tax scenarios. From a finance perspective you need flexibility, and cashflow so I would lean towards a variable interest only loan. Make sure that the loans for each property are separate for a number of reasons. 

Strategy is good – the strategy becomes undone when there are unexpected costs in…[Read more]

Couple of points:

1. Yes you can do want you are saying and it is a very common strategy. From a finance perspective you will need to let the lender know. The lender will order a valuation to check a few things – DA, LVR, price of each block, etc. Make sure you run this by the broker or banker upfront. Many lenders offer upfront valuations so if…[Read more]

1. Your conveyancer should be able to recommend a good B & P that they work with or ask for recommendations on the forum but be quick this is very important
2. Yes
3. Yes – you need to ascertain a formal approval asap as the bank may need to order a valuation
4. If you need rental income for servicing purposes – the lender will required a proposed…[Read more]

1. Order a Building Inspection – you dont need pest inspection for strata.
2. Ascertain the AGM report and sinking fund and have your solicitor review this
3. Get finance ready. No one can answer your questions re finance structure unless they have sat down and determine current and future strategy. Generally speaking a lot of investors go for…[Read more]

If the plan is to buy and hold today and then develop, subdivide, etc at a later stage then consider houses rather than units. You are on the right track with Parramatta and Newcaslte areas. Parramatta is a beast that just keeps growing. Some interesting news re Parramatta that came out…[Read more]

Get an 80% lend – this will allow you to use a portion of the $330k. Have the account as an IO with a linked offset. Have the excess funds sitting in the offset account.

You will may the lower interest but when/if you convert it to an IP the property becomes taxable due to the principle amount on the loan. Have all your salary deposited into this…[Read more]

Financing for NRAS properties have changed a lot since they were first introduced. Many lenders will now go to 90% LVR. The biggest variable is the valuations. We do about one NRAS property a month and probably one out of 7 comes back with a lower valuation.

NRAS properties are good but you just need to ensure that you do not over pay on the stock.

Before you get your finance – come up with the strategy and from there you will be able to determine how much you of the $250k you spend on IP 1, IP 2 and so and even the area to purchase.

Properties in Newcastle, Parramatta and Inner West have completely varying strategies which tell me you havent really nutted out your longer term plan.

I…[Read more]

Is this in Sydney? If so which council?

All sounds good simon but how are you looking to get CF + property? Are you going to manufacture the cf?

Regards

Shahin