That's incorrect as I have done numerous this week but max was 1.00%. 

The thing you need to understand is that the discount doesn't mean anything – you need to look at the actual standard variable rate to start with. If you do this you will realise that the 1.00% discount off ANZ's rate is great vs the other majors.

Regards

Shahin

It helps if you note which State and even council the property is located in?

Regards

Shahin

Here is an example of what I mean:

Existing Property:

Loan A/C 1 – $x (Purpose is the 20% Deposit for the IP purchase – this will be tax deductible as the purpose of the funds are for the purchase of the IP)

New IP Property:

Loan A/C 2 – $x (Purpose is 80% of the IP purchase – this too will be tax deductible as the purpose of the funds are for…[Read more]

ANZ will not do this under resi terms no way. What LVR are you wanting and just to be clear you are wanting to do this under resi or commercial?

Regards

Shahin

That is a lot of equity but I think you mean 80%. Is the property unencumbered? 

Actually the answer to that question is irrelevant. The point is you have equity. You need to ensure that the structure of the loans are correct and you set up the loans standalone (i.e don't cross securitise). 

Regards

Shahin

Do you currently own property? What is the equity that you have in your current property?

Regards

Shahin

Its not a very stable strategy to purchase property based primarily on negative gearing. Why do you want to lose money and hope for CG in the future? 

There are no issues with negative gearing however have a plan to turn it into either cashflow positive property or ascertain CG/equity to build your portfolio from there. 

You can claim one…[Read more]

Yeah I found have that it is very hard for ANZ to go into the 5.3's. Having said that it is still quite competitive.

Regards

Shahin

In the name of everything that is holy and sacred what is this drivel? 

I have to hand it to you John or Rob – you keep getting taken to the cleaners and you just keep coming back for more. You have skin thicker than a rhino's backside.

Regards

Shahin

PLC posts on this forum and I believe he is in Melbourne.

Regards

Shahin

The biggest thing you need to consider is site costs. Secondly, no matter which builder you choose – you will find that you will always need to keep an eye on the development/construction.

Regards

Shahin

How much deposit do you have? One thing to consider in the PPOR vs IP debate is CGT down the track.

Regards

Shahin

Do what Terry has stated plus go IO.

Regards

Shahin

Look it depends on a number of things so its impossible to give you a certain figure. Things like drainage, Stormwater, excavation (soil, rock, etc), RL's etc can all make a big difference.

Ballpark construction costs for turnkey would be $550k-$600k 4 bedroom double story duplex.

Regards

Shahin

Do you have a report on recent sales that could be used to potentially negotiate the property down?

Regards

Shahin

You are now on the right track. What I would look at is the potential to create dual income on the property. This would allow you to live in one and rent the other out. You wouldn't need to do this today but it will allow you to do this at a later stage. Get a property with decent land content and compromise on the house content.

Regards

Shahin

This is a scenario where I would recommend that Joey ascertains the loan for the deposit from their current lender since she has paid LMI with the current lender. They can get valuation upfront with another lender but the val would need to come back at $500k for it to be feasible (I don't think it hurts getting a val via ANZ since they do modelled…[Read more]

What do you mean by maintain? You do not need to do anything per se but you cannot build over the easement.

Regards

Shahin

Ok you have a few options but it comes down to the strategy that you are confortable with. When I mentioned development – I will give you a quick example. I purchased a property 2 months ago in Newcastle near the uni. It was for $330k and it was a 1000sqm block. The rent is $370 per week. It is negatively geared by quite a bit however i am in the…[Read more]

So you can't simply change to IO over the phone?

Regards

Shahin