Re the mock up – good call but can think of nowhere to stage it, not to mention the dramas n $$$ of putting together a real ‘exhibit.’
So am now considering getting a virtual mock up done so people can do a walk thru etc – may well be a good step as I think yor’re right – people have trouble visualizing the end product…[Read more]

Don’t know of any offhand, but you might try Owner Builder magazine, lots of people share their ideas + plenty of trades specializing in O/B advertise in it.

Cheers

theloanarranger

Pick a broker, any broker..
There’s still 1 or 2 lenders who’ll give you a discount on their fixed rates on certain loan levels, but it’s nothing to write home about – around 0.1 or so off advertised rates. If you intend fixing it all find out what you can get elsewhere and then have the unless-you-match/better-this-I’m-outta-here…[Read more]

On face value I can’t understand how the 25 y/o unit is costing you $200 p/m (unless you’re paying way high interest..??) It should be creating + cash flow, in which case I would NOT be selling it.. Whether to renovate would be a decision based on if it would increase the rent, increase your deductions or to keep your tenant…[Read more]

Mind you, I had a good laugh when I read the article too – I’ve had a few of their ex-clients with stories to tell, and problems to fix..

theloanarranger

My colleagues and I were scratching our heads when various lenders brought out regulated Lo Doc Loans – I appreciate most are funded offshore -but still believe the majority would breach the UCCC if…[Read more]

I too hate selling unless absolutely necessary.

Be aware that if you sell the IP you probably won’t have as much $$$ to play with, after sale costs, CGT, etc – and you’ll forgo any more capital appreciation. Only way I’d sell the IP (don’t forget market in most areas is slowing/retracting) is if you could use the $$$ freed up from a…[Read more]

Steve McK has stated in his book that he favours self gratification

He does..???? [ohno] That would explain the glasses..
[biggrin]

theloanarranger

If you want to send me your contact details, or details of the deal, etc either send me a PM or (preferably) an email – I’m not on the forum boards continueously.

I’m a MB in Sydney, grew up in country NSW..

Cheers,

theloanarranger

Unless the outlaws still have a reasonable mortgage on their property and/or they could expect the property to rise in value substantially, they might bebetter off to sell it. Reasoning being that any loan they raise on their property to buy a new o/o property will NOT be tax deductable, so they’ll have a o/o loan (even though it’s secured…[Read more]

If all else fails, try going to the relevant council, (the rates dept)and ask to see the sales register – basically a list of all property transactions going back several years within council boundaries.
Some councils charge, others don’t. Should give you the address, price paid and settlement date.

theloanarranger

Re occ: broker ‘n private sale consultant

theloanarranger

theloanarranger

theloanarranger

If you think a lower val price is possible, consider getting a val done either privately (ie you pay for it, and ensure the valuer is on your lenders panel, so you can use it later), or use another lender than your existing to do the val. (probably still have to pay for the val, but will probably be cheaper than getting one done yourself,…[Read more]

theloanarranger

But if they look after your property well, treat the tenants like family – if…[Read more]

If it’s the members of the club, and you have to borrow the funds to do it, think very long and hard before you go down this path..

Every borrower would be potentially responsible for the entire debt – would get very messy very easily.

If everybody’s going to throw in and buy it, what happens when someone wants out? Or…[Read more]

I would be talking to another accountant/solicitor or 3 to ensure that the course of action you about to undertake is definitely the best one for you, to avoid any costly repeats.

Should you need a loan, you may qualify for a Lo Doc equity loan of some description. There’s a plethora of them nowadays, from virtually all…[Read more]

Another rule of thumb – price should be reflective of 10% rental return -…[Read more]

If I assume rightly, you need to give back the…[Read more]

If the answer to Q1 is very positive, haggle like crazy but don’t…[Read more]

theloanarranger

theloanarranger

theloanarranger

To redraw equity I assume you believe the value of the property will increase fairly quickly..?
Should you want to draw money out you would have…[Read more]

It would help to know if you have an owner occ property – is that the equity you will be tapping into? If so, simplest would be to get a line of credit on that up to 80% of valuation, and use the excess over any existing debt for a deposit (20% if possible to avoid Mort Insurance costs) and get a cheap as chips I.O. loan for the…[Read more]

I’m a strong avocate of selling privately, although with IP’s it’s far from straightforward. BUT when you decide to sell, take the time to write to your tenant, and give them first option. (After all, they must like the place – they chose to live there). Not a great chance of success, but phrased correctly the letter will keep…[Read more]

+CF props DO allow you a lot more scope though, i.e. instant income, additional borrowing capacity, etc.

theloanarranger

Giving up for the $$ savings alone doesn’t work for me – I’d still buy at twice the price, despite realizing how much…[Read more]

Far be from me to push my own cart, but I am in Sydney and been broking for many years. Know property, as was formerly an R/E agent (prior to deciding ethics more important..) and now a senior consultant to a R/E Private Sale company. Am more than happy to discuss any and all scenarios. Find me at donc@thinkhomeloans.com.au or on 041…[Read more]

theloanarranger

A coupla quick thoughts – if you are keeping the old house as an investment with debt level of $140k, it would go close to being +CF on those rents you mention. Suggest you change your repayments to Interest Only on this loan asap – there is no point reducing this debt if you are going to keep it, and about to have a large debt
on an…[Read more]

theloanarranger

theloanarranger

Voila! He gets 99% of the income/deductions, etc but you both would control the loan/asset. (He can kiss the FHOG goodbye tho..)

theloanarranger

Sounds like they’re offering a managed mortage reduction/investment programme. My company offers similar sevices – for people who want it all done for them.. Nothing you can’t do yourself with a hands on attitude and a lttle education – for a fraction of the cost..

theloanarranger

I am biased, but a)you can’t live in your shares,
b)can’t add value to them, c)pay tax on your profits, and d)will find it pretty hard to get a flatmate to help you buy them..

Depends where you live and what your R/E market is doing re timing your purchase, but try working out the diff between what you pay in rent and what it would cost…[Read more]

My 2 cents worth.. Your break costs will probably be chunky – check to see if your potential savings justify doing it to start with..

It’s my belief that lenders set their fixed rates with a view to making a quid, and with 3 + 5 year fixed rates sub 7% available from a few lenders (and the rest not that far away) their crystal…[Read more]

PS choose your property manager with care..

theloanarranger