Hi JT7,

What do you specifically get out of it? Cash flow analysis? Investment Strategy planning? etc

Regards

Shahin

I have personally done 3 dwellings on a title and then subdivided. Where is LMD? Are you referring to units, villa, or townhouses? Have you got DA and CC already? What are the sites costs like?

Regards

Shahin

Heritage are a bit harsh when it comes to lending policy as well as servicing however if your rate is under 5.50% then you have got a good set up with them.

Regards

Shahin

Builders are never good or bad as they rely on tradespeople who may or may not do a good job. 

Regards

Shahin

I am interested too as I think the idea is fantastic. 

Hi Susan,

We deal with these scenarios all the time and had a loan approved for a member in Coogee recently.

If the property is an investment property and meet all the other conditions of the loan (i.e. servicing, employment, property type,  etc) I would suggest you either:

1. Go to Westpac directly or
2. Tell you broker that Westpac has a no…[Read more]

BTW you have dodgy a king kong sized bullet! I would counting myself lucky regardless of the upfront costs.

Regards

Shahin

Hi Jean,

I just had a look and wow seriously. Are you sure the builder has a licence to build?

Do you know how expensive it would be to fix the storm water pipe and they didn't put drainage on the balcony?

People that do not understand NRAS will generally knock it. General stock (particularly those in Brisbane) are overpriced however if you…[Read more]

If you are in NSW you will need to lodge an application with the department of fair trading. 

Regards

Shahin

Set yourself a checklist such as price range, net yield percentage, minimum population of the town you are investing in, availability of transportation, employment and amenities. Also start expanding your search and look at opportunities interstate that may suit your criteria. 

Regards

Shahin

What were some of the things outlined in the building report?

Regards

Shahin

There you go Matt – I bet that the property is Over 55's. Whilst this is not necessarily bad – it does carry restrictions which would affect finance and in turn resale.

Run this by your banker/broker before signing on the dotted line.

Regards

Shahin

Absolutely and this is also quite common in the commercial SMSF space.

Regards

Shahin

Hi Brendon,

I know its a bit of a cliche response but it is honestly hard to answer that question with the accuracy it deserves. 

It is dependent on a number of factors. What type of investor are you? Are you a passive investor? I have a lot of buyers (particularly overseas buyers) that come in and want a brand new unit with minimal ongoing…[Read more]

Hi Mate,

Lots of things to note so I will do it in bullet format:

1. You can invest via SMSF in property with $50k
2. You need at least 20% plus government charges as a deposit so with a deposit of $50k you will be looking at a purchase of $210,000.
3. You will need to set aside around $2k-3k in set up fees for the SMSF entities
4. You will be…[Read more]

Just to extend on the above point – assessing a loan for an SMSF loan has no bearing on your personal liabilities unless you are going above the 9% contribution. Then you will be required to provide your full personal asset and liability position. 

Regards

Shahin

Hi Matt,

Just to clarify the topic of finance – a buyer may be ok in terms of being able to service the property and that's great.

However lenders do have certain restrictions on the type of security whether its community title, display homes, company title, serviced apartment, etc. As an example, I had one client that had a lot of deposit for a…[Read more]

Don't forget to get your conveyancer or solicitor to have a look at this if you are new to the game.

Regards

Shahin

Save, avoid the car (even sell it) and use public transport, sell any unwanted goods, get a second job (nights or weekends) and expand your property search criteria as there are lots of good stock in the lower price bracket. 

Regards

Shahin

Definitely have a look at the strata report. By onsell I mean are there any restrictions associated with the property that may stop you from selling the property if you need to.

If the net yield is 10% then that's good.

Regards

Shahin