I hope I am mistaken but that tells me your banks wants to cross securitise your properties. Be careful in how you structure your loans for your next IP.

Also equally as important – do a cashflow analysis so see what are your net operating costs vs the potential for CG growth. 

Regards

Shahin

Short answer – no to all your questions. 

Longer answer – the banks don't care where you have your savings when it comes to the loan. When a lender talks about 'existing customer' this means lending not savings (in loan terms).

The benefits of having all 4 loans with one bank is that you have more negotiating power however its never that simple.…[Read more]

Ok so the equity you have in your current property at 80% is $236k. The question then becomes how much do you use for your next IP purchase. Be careful about using all of it. If you have an aggressive IP strategy it may make more sense to borrow less.

I would look at something with land content – opens the door for renovation, extension,…[Read more]

Ok what's the current loan balance against the property?

Depends on what sort of stats you are looking for but there are stats via RP Data, APM, Residex, etc.

I would focus more on a strategy that an investment type (i.e. unit, house, location). You can purchase land with the same yields but you will also get potential to develop the land. On…[Read more]

How are you calculating equity?

Also why purchase a unit for $230k with a rental of $270 p/w? IS there strong CG potential?

Regards

Shahin

No worries – they also do surveying so they can give you a quote on those things as well.

Regards

Shahin

You can do this with mainstream several lenders under a relocation loan. The interest will be capitalised so the fact that you don't work is not an issue.

If you are doing a vacant land and build then you will have 12 months to construct and sell the current property.

Regards

Shahin

Some councils have a 'Pre DA' consultation. Basically you submit concept drawings rather than the whole box and dice. They give you a general idea of if it works or if it doesn't, what things to consider, and what things to include in the DA submission.

A surveyor cannot sort out the DA but usually companies that offer surveying offer DA/TP…[Read more]

If you haven't done so already – ascertain the councils DA guide and explore the options. Get an idea of what can be done and what cannot be done.

Secondly, contact the town planner at the council and talk to him/her about what you want to do. You generally have only 15 minutes so you need to be very specific with your questions. Make sure you do…[Read more]

Why did you go with Anchorage? Did you have a default in the past?

Regards

Shahin

Ok so LVR is ok – you should have an issue with this. Find a good broker and he/she will sort it out within hours.

Regards

Shahin

Some lenders allow for rental income only depending on a few conditions. What's the value of your PPOR?

Regards

Shahin

Most brokers and bankers can get you the APM Reports for free so don't waste your money. You should only be looking at the past sales and the current properties on the market. The system valuation of the property is often out. 

I don't rate ANZ too highly. They only go to 70% LVR on 2 titles which is a massive road block as many investors look to…[Read more]

If you are a buyer that looks for property in various states then this is a good website:

http://www.firsthome.gov.au

Regards

Shahin

Because the council will not issue completion of the second stage (i.e. subdivision) if the first stage is not complete (i.e. the construction). This is how the lender will view this. This would definitely be unacceptable for the lender. I know what things can be pushed and negotiated when it comes to policy but this is not one of them.

Your…[Read more]

Which city/area are you looking at? 

Re placing an offer – many finance professionals have access to RP Data or APM reports. These reports give you a list of recent sales which can be used to determine an offer. This information is quite useful when negotiating a price.

Re loan structure – your broker or banker can assist with this. Make sure…[Read more]

It doesn't work that way – both the lender and in turn the valuer will go by how it is staged in the DA, i.e. construction first and then DA. 

Does the building contract include everything? Did you remember to include things like demolition costs, site costs, fencing, retaining walls, driveway, etc? This all goes towards the construction…[Read more]

That is quite common with Serviced Apartments. 

Regards

Shahin

For PPOR or for investment? Very small area full of units close to Parramatta CBD. Low vacancy but a high'ish crime rate.

Regards

Shahin

Wow he does sound like a douche – either find another banker or a broker that (sorry to sound cheesy) will actually help you grow your portfolio.

Re your question – it depends on a few things and there are pros and cons for LOC vs a Standard VL but generally yes that's how I structure the loans.

Regards

Shahin